High Oil Price,Weak Euro Take Toll on Europe

摘要

Prices for crude and products have been rising in recent weeks, as have concerns about the impact these higher prices will have on global economic and oil demand growth. Brent futures hit $128.40 per barrel in after-hours trading on the Nymex at the start of this month, the highest level the benchmark has seen since July 2008, while the Nymex Ught, sweet crude contract reached $110.55/bbl, a level most recently seen last May, in the depths of Libya's civil war. ICE Brent futures have now risen almost 15% since the end of 2011, a sharp enough rise to start having a serious impact on both GDP growth and oil demand, according to research by investment bank JPMorgan Chase.