Media Washington, July 18 reports, July 16, the U.S. government's energy minister, Steven Chu (Chu) called for an end to "volatile" oil prices, he believes that the volatility of oil prices to a large extent with the "far-sighted "relating to the speculation.
U.S. Energy Secretary called for more stable oil market to avoid any potential to endanger the economic recovery. Steven Zhu said that he had in six months oil prices more than 30 U.S. dollars a barrel from the low quickly elevated to the rank of more than 70 U.S. dollars per barrel was "disappointed."
U.S. Energy Secretary in an interview with reporters, made these remarks. He believes that oil prices caused in such a short period of time mainly due to sharp rise in the "visionary" market speculation rather than the basic principles. He said: "I have said over and over again, I will continue to do that, we are now the only hope is that the stability of oil prices as soon as possible."
Although the minister refused to Steven Chu of an appropriate price, but, he said that 150 U.S. dollars a barrel last summer's oil price is "high-shocking."
According to the Swiss financial company UBS said, the price of crude oil in the second half of this year is likely to reach 65 U.S. dollars a barrel, and then in 2010 to reach 70 U.S. dollars a barrel.
Jul. 20, 2009
