Demand for Crude Oil Has Fuel Prices Pouring Over the Top

Hampton, Tudor
June 2005
ENR: Engineering News-Record;6/27/2005, Vol. 254 Issue 25, p54
Trade Publication
This article reports that energy markets showed early warning signs of inflation last October, when the price of crude oil reached more than $51 a barrel during regular trading on the New York Mercantile Exchange. Global price swings, blamed on labor unrest in some oil-producing nations, on top of tight supplies and high demand, sent nominal fuel prices soaring to their highest in history and their inflation-adjusted highest since the early 1980s. A relatively calm winter season; price-wise followed by another record-setter in early April, has construction professionals on the watch for more price swings and making bid adjustments whenever possible.


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