The oil price development 2011 increased to $ 111.85. This cost the barrel (159 liters) as much as most recently in October 2008. It threatens supplies in Libya. Many foreign companies have set the oil production. Libya is the third largest oil producer in Africa and promotes the eight highest levels in the OPEC (Organization of Petroleum Exporting Countries).
With the rising oil price trend in 2011, reflects the fear back in front of a spread of the protest movement in Iran and Saudi Arabia. These countries are the two biggest oil producers within OPEC.
WTI oil has
Meanwhile, the U.S. crude oil WTI (West reached Texas Intermediate) for the first time mark of 100 dollars since autumn 2008. The WTI oil price is compared to the North Sea Brent crude to be less dependent on international tensions. However, ensure the unrest in North Africa and the Middle East, even with this oil price development 2011 for strong gains.
WTI oil was before the outbreak of the financial crisis to $ 147.27 per barrel increase on 11 July 2008. There followed a rapid devaluation, plummeted during which the price of black gold to $ 33.54 by 12 February 2009. Subsequently, the amount continues to this day flight began with a value increase of $ 66.46 or +198.15 percent.
The world economy is currently in a much better shape to cope with the rising oil prices in 2011, said U.S. Treasury Secretary Timothy Geithner. This is a serious difference to 2008, when the crude oil price had scratched the mark of $ 150. Central banks would have a lot of experience to manage the situation.
The technical trend in the Brent oil price is intact since summer 2010. Thus, the prices climbed for a barrel from $ 74.83 to $ 111.85 in the last seven months (+49.47 percent).
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