FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

Oil prices continue to rise

Despite assumptions by governments such as those in Japan that the price of oil will fall further in the short to medium term, the exact opposite has occurred this week. Even though confidence in the US economy has fallen significantly over the last few weeks, recent figures from the US government suggested that initial indications of a fall in the US economy may have been overdone. This has forced a revision of the first-quarter fall in GDP with the initial figure of 6.1% now revised down to 5.7%.



As a consequence, it now appears as though the US economy may not be as weak as first thought, at least at this moment in time, and the consumption of commodities such as oil is continuing at levels higher than many expected. As a consequence, many people expect the price of oil to rise yet further with a target price of $75 a barrel in the short to medium term. However, recent noises out of America suggest that the economy may not be as buoyant as many thought, and think at this moment in time, suggesting something of a two-way pull in the short to medium term.



Those with motor vehicles in the UK will no doubt have noticed the ever rising price of fuel which is a direct reflection of the strength of the oil market.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue