7 January 2008
With the price of oil tipping over $100 a barrel for the first time in history shortly after the turn of the year following a controversial ‘vanity trade’ by an overnight dealer, it has emerged that bets are being placed on the price topping $200 a barrel during 2008.
Figures from New York’s Nymex commodities exchange show a 10-fold rise in options being taken on a price rise to $200 over the next year.
Most investment houses forecast oil will average between $80 and $90 a barrel this year, and the options bets have been dismissed as long-shot insurance against a low-probability event.
Qantas set for surcharge rise
Qantas today said it is to raise fuel surcharges on international routes for the second time in less than a year.
Australia’s largest airline said the increases of as much as 16.7%, to take effect from 17 January, were in response to record fuel prices.
Passengers flying between Australia and Europe will have to pay a surcharge of A$210 (£93.56), up from A$185.
http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=428938&in_page_id=3
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