Thursday, July 05, 2007

Unit 1: The price of oil

The price of oil goes past $73, a 10 month high says this BBC article

a) What is the main reason given for the price of oil rising?
b) What does the phrase "Ongoing anti-government violence in Nigeria has also put an upward pressure on global oil prices" mean in terms of the market
c) Draw a S&D diagram to show these 2 effects on the price of oil

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