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U.S. Jobs Data Propels Crude Oil Above $80 a Barrel

March 06, 2010 By: oilguy Category: Peak Oil

Jobs data indicating that U.S. economic recovery might be picking up steam finally pushed crude oil futures decisively over the stubborn $80 a barrel threshold. Nymex’s benchmark West Texas Intermediate settled Friday at $81.50 a barrel, a seven-week high, after topping $82 in intraday trading.

Full article at: http://oilprice.com/article-us-jobs-data-propels-crude-oil-above-80-a-barrel.html

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Oilfield Facts

“The Hubbert peak theory (also known as peak oil) posits that future petroleum production (whether for individual oil wells, entire oil fields, whole countries, or worldwide production) will eventually peak and then decline at a similar rate to the rate of increase before the peak as these reserves are exhausted.”
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U.S. Jobs Data Propels Crude Oil Above $80 a Barrel

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