Supply fears fuel trading frenzy and record oil prices
Lloyds List; Apr 12, 2006
OIL prices climbed to record levels yesterday on the back of supply fears in Nigeria and Iran, writes Martyn Wingrove.
Traders in London and New York ploughed into the market to buy light crude oil as they anticipated growing demand for gasoline in the summer and a shortfall in capacity.
Fears of a disruption in supplies due to continued troubles in Nigeria and a confrontation in Iran pushed London's Brent crude prices to all-time highs.
The price rose to $69.70 a barrel yesterday morning before trading down to $69.40. In New York, the market opened with US light oil priced at $68.80 per barrel.
There are concerns that Iran, a key member of the Organisation of Petroleum Exporting Countries could reduce oil exports as a weapon against any action to halt its nuclear development programme.
It is thought the Asian nation will announce an achievement in the programme to enrich uranium that could lead to sanctions from Western powers.
US President George Bush has dismissed reports that he is seeking military strikes on the Islamic Republic, which pumps out around 4m barrels of oil per day, to halt the nuclear programme.
In the background to this, traders remain concerned over the lower levels of oil exports from Nigeria, another key member of Opec, as tribal attacks on Shell's facilities has shut-in 500,000 barrels per day of output, or one suezmax tanker every two days.
Despite these incidents and fears, members of Opec, including Nigeria, Iran and Iraq were producing on average 29.75m barrels per day in March, up slightly from the February average.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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