Oil prices rise over 2% amid supply worries

Oil futures prices rose on Monday amid growing supply concerns ahead of the coming winter and the Ukraine crisis, which continues to add extra pressure to international crude oil trading. Most recently, Shell Chief Executive Officer Ben Van Beurden warned about the current energy crisis and that this one could last more than one winter. “t may well be that we have a number of winters where we have to somehow find solutions through efficiency savings, through rationing, and as a very, very quick build out of alternatives,” he told reporters today. The remarks come after last week’s gains as market participants weighed the possibility of a reduction in production by the Organization of the Petroleum Exporting Countries. West Texas Intermediate (WTI) for deliveries in October rose by 2.71% at 10:07 am ET to sell for $95.70 per barrel. A minute later, Brent for inventories for the same month increased by 2.09% to go for $103.45 per barrel. NN: As you know we are in a major oil trade. Carefully follow the suggested strategy. We will increase our line as our confidence grows and the prices  rise. Warning its not all sun tan lotion and Piña Coladas.  Iran wants to rain on our parade…. That’s ok between the civil war on Libya, the normal fuck ups in Kazakhstan and Iraq civil unrest rising i am sure their will be sufficient supply disruptions to bring a smile to your face.