I.D. # 001983840 – Bus 160 – Tidbit #3 Tidbit #3: “Oil, gasoline up on supply, Iran worries” Yahoo News, posted on 9/27/2007 http://news.yahoo.com/s/ap/20070927/ap_on_bi_ge/oil_prices;_ylt=Ag41xAeDLVl1vnAu RriGhYNu24cA Researchers, traders, and investors are worried that the supply of the crude oil is dropping. The inventory of the crude oil is noticeably less than what the forecasters have expected. They are thinking that there are three possible reasons for the lack of crude oil inventories. The Iran is delaying the supply of the crude oil, the economy is booming so that the gas consumption has risen, or it is a just a fling that is taking place for a short amount of time. The focus is mostly on Iran and their oil supply. Some even said that the west will act to control Iran and its oil supplies no later than end of 2007. The concern is not only in U.S. The price of crude oil has risen close to $79 a barrel on the ICE Futures exchange, London. Also the price of crude oil has risen very much in Asia.
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