Sign up for myFT Daily Digest to be the first to know more about fat.
Signs of global inflation pushed oil prices to more than $ 80 a barrel for the first time in three years in markets struggling with the prospect of a reduction in oil prices by the end of the year.
Brent, the global brand, rose 0.8% to $ 80.19 a barrel during an Asian trading session on Tuesday, beating three-year-old the second day in a row. Tuesday’s rise brought the price of nonsense almost 55% up the year so far.
Brent’s recent profits came at a major conference in the electronics market, with competition growth between Europe and China is helping drive oil prices to draw rates in recent weeks.
The failure of global gas production, as well as the co-operation of China to reduce the risk of industrialization, is expected to push the reverse because industry has changed its use of oil to generate electricity.
The clean-up of power by the Chinese authorities, one of the main sources of annual emissions as Beijing prepares to host the Winter Olympics in February, has resulted in any spread which has disrupted factory operations and left many powerless houses in the northeast of the country.
Chinese power producers have struggled to cope with the decline in production which has boosted the country’s oil prices by up to 96 percent this year.
Oil prices are set to rise again in China, with Shanghai rising by 27% from a test at the end of August, forcing Beijing this month to announce First public market of oil stored by the state for domestic producers.
So far, the UK has been occupied by a oil problem It is caused by a decrease in the number of pilots, while motorists stay in the oil lane with a dry spot after buying a panic.
“We’re not just looking at the UK and Europe, but the potential global crisis that will come in the winter,” said Robert Rennie, chief marketing officer at Westpac.
He noted that with the advent of renewable energy in the world, as countries reduce travel restrictions on coronavirus, oil could be depleted worldwide, US standard slightly lower than at the end of the end of the year.
“Throw in the overhead electricity that has come out of China and worry about the volume of things in the world, and it is understandable that we are seeing a lot of pressure on useless things,” Rennie said.
The spread of oil shortages prompted Goldman Sachs this week to launch a powerful global campaign for the coming months. Predictability bank Brent could hit $ 90 a barrel in less than a year.
In China, state-run media tried to alleviate their concerns by promising to end the climate crisis.
A front-page report on Tuesday in the Economic Information Daily newspaper, a newspaper run by the state-run news agency Xinhua, said government officials were taking steps to reduce power shortages and prevent unpredictable power cuts.
A weekly electronic newsletter
Energy is the most important business in the world and Source Source is his story. Every Tuesday and Thursday, directly in your email, Energy Source brings you important news, future analysis and in-depth insight. Sign in here.