The markets are always watching. Millions of eyes around the world watching and sharing figures, financial reports, data and international news.

So, What Can Effect The Price Of Oil?

So, what can effect the price of oil? Perhaps a conflict zone is getting worse. Bad weather effects oil production. Terrorist strike on a major oil depot. Shipping problems in the Suez Canal. Peace announced in a war-torn region. A large economy goes in to recession or otherwise, betters their expected financial results. Colder winters mean larger heating bills, warmer summers mean more power used for air conditioners and people travel more for fun in the sun. Stock pile quantities of oil. Industry experts' comments on the future use of oil. Good or bad news from the major oil companies. New technology. Demand compared to supply. Exploration activity.

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All the above and much more can have an effect on the oil price. Some will have a positive effect, others will have a negative effect.

The price effects everyone on the planet with the possible exception of the people in the Andaman Islands and some Amazon or Asian jungle tribes.

About The Author
Helena Montgomery
Chewells Contributor

Helena is our longest serving contributor. She lives in an area heavily dependant upon the oil industry. She... »

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Replies

• Junzo (Aug 26, 2024)
  Last people that tried to get on the Andaman Islands were speared by the locals.

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