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These energy trading floors are New York Mercantile Exchange, the International Petroleum Exchange in London and the Singapore International Monetary Exchange. Similar to a common stock, the more demand for oil, the higher the price; more build up in oil or supply, the lower the cost. “Prices of crude oil markers and petrol markers are affected by a myriad of factors from overall supply/demand for crude oil, supply/demand for petrol, freight rates and competition in the crude markets, and competition in the regional and domestic markets for petrol” (Crude oil pricing, ¶14). Events like 9/11, hurricane Katrina, and the war in Iraq have introduced much turmoil in the world...
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