Oil prices appear headed toward $70/barrel

By ASSOCIATED PRESS
April 1, 2006 06:59

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Oil prices appear headed back toward $70 a barrel, a level not seen since Hurricane Katrina battered the Gulf Coast, and sporadic shortages have raised gasoline prices in the United States. While last summer's price spike triggered outrage in Congress and hurt sport utility vehicle sales, it caused only a hiccup in motor-fuel consumption. And for now, with demand back on the rise, the economy seems capable of absorbing uncomfortably high prices. Analysts warn, however, that consumers and businesses could be just one major supply disruption away from more serious financial consequences. Sherry Cooper, chief economist at BMO Nesbitt Burns, said the ramifications of $70 oil and $3 -a-gallon (65 euro-cents-a liter) gasoline would be "more mild" the second time around "because we're getting kind of used to it."

Related Content

July 17, 2018
Iran files International Court of Justice suit against U.S. over new sanctions

By REUTERS