1 August 2007
Demand from US refineries has increased for six successive weeks
Oil prices have climbed to a record high of $78.71 a barrel amid worries about whether oil supplies can meet global demand.
The price of a barrel of US light, sweet crude passed the previous high of $78.40 a barrel, reached in July 2006.
Prices have risen steadily in the past few weeks following disruption to output in Nigeria and the North Sea and set a new closing high on Tuesday.
The latest rise was triggered by data showing a fall in US crude stockpiles.
Falling stocks
The Department of Energy said that oil inventories had fallen by a higher-than-expected 6.5 million barrels in the week ending 27 July.
Analysts had been forecasting a far more modest fall of about 700,000 barrels.
Oil markets have withstood recent stock market turbulence, taking their lead from positive economic signs in the US about employment and consumer confidence.
Despite a rise in output from the members of the Opec oil producers’ cartel last month, traders are still worried about the amount of spare capacity in the market amid robust demand and continuing instability in oil-rich Nigeria.
“The market is looking closely at the unexpected large draw in crude stocks,” said Jim Ritterbusch, president of energy analysts Ritterbusch and Associates.
“These numbers are enough to keep the crude rally alive.”
The previous $78.40 high was recorded during the Israel-Lebanon conflict last year.
In London, Brent crude fell 15 cents to $76.90 a barrel.
http://news.bbc.co.uk/2/hi/business/6926403.stm
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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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
