European Central Bank (ECB) chief Jean-Claude Trichet warned on Wednesday (14 September) that oil prices are likely to stay high for several months, but hurricane Katrina is not to blame.
"Oil prices have continued to rise, increasing considerably since the beginning of the year, and developments in futures prices suggest that market participants expect the current tightness in oil markets to persist", he told MEPs on the economic affairs committee.
Prices currently stand at aro...
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Already a member? Login hereAndrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.
Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.