Reading: Oil price still near record $142

http://news.bbc.co.uk/1/hi/business/7476910.stm

Summary by Siri: "Oil price still near record 142 $"

- Supplied will not match with demand.
- London and New York were trading between 140-142 $.
- Opec,oil producer's group,has been under pressure to rise production,but recent reports have shown that members are split over whether to increase output.
Increasing oil price 's factors.
- Labya has threatened to cut production because market is well supplied and was threatened by US .
- The hedge funds were blamed by analysts as a player in raising oil prices.
- Opec believed that speculators were involved in the rising oil price,but others are not convinced.
- Deutsche Bank's research note "the factors driving oil prices higher are fundamental and not speculative.
- The US House of Representatives has passed a bill that would allow the Justic Department to sue oil producers for limited supplies ,but the bill not yet review by The Senate and The White House will not agree with this.

Siri 's opinion : I think the factors are involved in the increasing oil price are speculators and hedge funds because the oil market is a future market so they can play with the markets with their huge billion.

Vocabulary

- Amid
among, between, during, encompassed, midst, over, surrounded, throughout

- a bill
- veto