The last few weeks the price of crude oil went up. The price is now at $106.65 a barrel. Compare that to a august and october 2011, whe the price was at about $80 a barrel. This has a lot to do with the problems in the middle east, especialy Iran. There are growing tensions between Israel and Iran over Iran's nuclear program. The possibility of an Israeli attack on Iran is very big now. In the coming days or weeks we can expect the price of oil to rise. Experts say it can reach $140 a barrel like back in 2008. The gas prices in the U.S. are at an record high, especialy for this time of the year. But the again, what if Iran gets its hands on a nuclear weapon. That will also increase the price of oil. The best outcome is that Iran stops its uranium enrichment, so the price of oil can stabelize. But i don't think Iran will listen to the west. I think a possible attack on Iran by Israel is more likely. And if Israel attacks Iran the U.S. will get involved and we have another war. This is an extreamly dangerous situation, because it could be the start of a new world war. The U.S. economy is realy bad and a war could take the world in another recession. Just take a look at the crude oil chart below.
In suriname the price of gas also rised at the pump the last vew days. If gas prices go up, everything goes up. Lets hope that nothing happens in Iran and that it will stop with it's nuclear program before it's to late.
