VOA常速英语2007-Higher Oil Prices Likely For Remainder of 2007

By Mil Arcega
Washington
30 October 2007
 
Oil prices peaked sharply higher Monday, fueled in part by ongoing¹ concerns about dwindling² supplies. In New York, crude contracts for December hit an all time high near $94 a barrel. Some energy traders say the latest surge means prices as high as $100 a barrel may not be far off. VOA's Mil Arcega reports. 

Uncertainty³ over crude supplies intensified⁴ Monday as nervous traders sent oil prices to new highs. And with demand expected to increase as the temperatures [jn the Northern Hemisphere] turn colder, analysts⁶ say prices are likely to remain high for the rest of the year. 

"I don't think crude oil is coming off any time soon," says Michael Theesfeld, a trader for HPR Commodities. He says a number of factors are to blame -- from lower inventories⁷, to a weak U.S. dollar, to escalating⁸ tensions in the Middle East. "There is a lot of speculative⁹ interest in the market and there's a lot of uncertainty in the market, and I think that will continue to make crude oil go higher, at least stay at these levels, and I don't think $100 is out of the question."

Mexico's decision over the weekend to reduce oil production because of stormy weather, and recent attacks on oil rigs in Nigeria are also cited as reasons for the artificially high prices.

"That means oil prices are $20, perhaps higher, than they would be if we didn't have these problems going on in the Middle East and Nigeria," says Addison Armstrong, a procurement¹⁰ analyst⁵ for Tradition Energy.

While a weaker U.S. dollar has made oil cheaper to buy in some countries, it has made it more expensive for American consumers. Market strategist Art Hogan at Jeffries and Co. says refineries¹¹ are passing the higher costs to consumers and that includes the price of heating oil. "If they have to pay $90 to make your heating oil for you, they have to pass that cost also to you. And you're going to see the increase in price on a percentage basis."

Demand for oil is expected to be higher this year amid predictions that seasonably cold weather patterns [in the Northern Hemisphere] will return following last year's mild winter.

1 ongoing   

adj.进行中的，前进的

参考例句：

• The problem is ongoing.这个问题尚未解决。
• The issues raised in the report relate directly to Age Concern's ongoing work in this area.报告中提出的问题与“关心老人”组织在这方面正在做的工作有直接的关系。

2 dwindling   

adj.逐渐减少的v.逐渐变少或变小( dwindle的现在分词 )

参考例句：

• The number of wild animals on the earth is dwindling. 地球上野生动物的数量正日渐减少。 来自《简明英汉词典》
• He is struggling to come to terms with his dwindling authority. 他正努力适应自己权力被削弱这一局面。 来自辞典例句

3 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

4 intensified   

v.（使）增强， （使）加剧( intensify的过去式和过去分词 )

参考例句：

• Violence intensified during the night. 在夜间暴力活动加剧了。
• The drought has intensified. 旱情加剧了。 来自《简明英汉词典》

5 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

6 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

7 inventories   

n.总结( inventory的名词复数 )；细账；存货清单（或财产目录）的编制

参考例句：

• In other cases, such as inventories, inputs and outputs are both continuous. 在另一些情况下，比如存货，其投入和产出都是持续不断的。
• The store must clear its winter inventories by April 1st. 该店必须在4月1日前售清冬季存货。

8 escalating   

v.（使）逐步升级( escalate的现在分词 )；（使）逐步扩大；（使）更高；（使）更大

参考例句：

• The cost of living is escalating. 生活费用在迅速上涨。 来自《简明英汉词典》
• The cost of living is escalating in the country. 这个国家的生活费用在上涨。 来自辞典例句

9 speculative   

adj.思索性的，暝想性的，推理的

参考例句：

• Much of our information is speculative.我们的许多信息是带推测性的。
• The report is highly speculative and should be ignored.那个报道推测的成分很大，不应理会。

10 procurement   

n.采购；获得

参考例句：

• He is in charge of the procurement of materials.他负责物资的采购。
• More and more,human food procurement came to have a dominant effect on their evolution.人类获取食物愈来愈显著地影响到人类的进化。

11 refineries   

精炼厂( refinery的名词复数 )

参考例句：

• The efforts on closedown and suspension of small sugar refineries, small saccharin refineries and small paper mills are also being carried out in steps. 关停小糖厂、小糖精厂、小造纸厂的工作也已逐步展开。
• Hence the sitting of refineries is at a distance from population centres. 所以，炼油厂的厂址总在远离人口集中的地方。