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{{#invoke:Hatnote|hatnote}} {{ safesubst:#invoke:Unsubst||$N=Use dmy dates |date=__DATE__ |$B= }} {{#invoke:Hatnote|hatnote}} {{#invoke:Infobox|infobox}}{{#invoke:Check for unknown parameters|check|unknown=|ignoreblank=y | AKA| Date| Deaths| English_name| Event_Name| Image_Alt| Image_Caption| Image_Name| Imagesize| Location| Participants| Result| Thumb_Time| URL| accused| aka| also known as| also_known_as| alt| arrests| awards| blank1_data| blank1_label| blank2_data| blank2_label| blank_data| blank_label| budget| burial| caption| casualties1| casualties2| casualties3| cause| charges| convicted| convictions| coordinates| coroner| date| deaths| duration| english_name| event| fatalities| filmed by| filmed_by| first reporter| first_reporter| footage| image| image_alt| image_name| image_size| injuries| inquest| inquiries| litigation| location| missing| name| native_name| native_name_lang| nongregorian| notes| organisers| organizers| outcome| participants| partof| patron| patrons| place| property damage| property_damage| publication bans| publication_bans| reported death(s)| reported deaths| reported injuries| reported missing| reported property damage| result| suspects| susperps| theme| thumbtime| time| title| type| url| venue| verdict| website }}

From the mid-1980s to September 2003, the inflation-adjusted price of a barrel of crude oil on NYMEX was generally under $25/barrel. During 2003, the price rose above $30, reached $60 by 11 August 2005, and peaked at $100 oil47.30 in July 2008.<ref name="tfc-charts.com">http://tfc-charts.com/chart/QM/W</ref> Commentators attributed these price increases to many factors, including the falling value of the U.S. dollar, reports from the United States Department of Energy and others showing a decline in petroleum reserves<ref> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref><ref> {{#invoke:citation/CS1|citation |CitationClass=news }} </ref> worries over peak oil,<ref> {{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Middle East tension, and oil price speculation.<ref>{{#invoke:citation/CS1|citation |CitationClass=news }}</ref>

For a time, geo-political events and natural disasters indirectly related to the global oil market had strong short-term effects on oil prices, such as North Korean missile tests,<ref> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref> the 2006 conflict between Israel and Lebanon,<ref> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref> worries over Iranian nuclear plans in 2006,<ref> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref> Hurricane Katrina,<ref>The Macroeconomic Effects of Hurricane Katrina, CRS Report for Congress</ref><ref>Hurricane Katrina whips oil price to a record high – The Times Online, 30 August 2005</ref> and various other factors.<ref name=Gross> {{#invoke:citation/CS1|citation |CitationClass=web }}</ref> By 2008, such pressures appeared to have an insignificant impact on oil prices given the onset of the global recession.<ref name="Oil Prices Fall As Gustav Hits">{{#invoke:citation/CS1|citation |CitationClass=news }}</ref> The recession caused demand for energy to shrink in late 2008, with oil prices falling from the July 2008 high of $100 oil47 to a December 2008 low of $32.<ref name=2010prices> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref> Oil prices stabilized by October 2009 and established a trading range between $60 and $80.<ref name=2010prices> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref>


2000s energy crisis sections
Intro  New inflation-adjusted records  Possible causes   Effects   Forecasted prices and trends  End of the crisis  Possible mitigations  See also  Notes   External links   

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{{#invoke:Hatnote|hatnote}} {{ safesubst:#invoke:Unsubst||$N=Use dmy dates |date=__DATE__ |$B= }} {{#invoke:Hatnote|hatnote}} {{#invoke:Infobox|infobox}}{{#invoke:Check for unknown parameters|check|unknown=|ignoreblank=y | AKA| Date| Deaths| English_name| Event_Name| Image_Alt| Image_Caption| Image_Name| Imagesize| Location| Participants| Result| Thumb_Time| URL| accused| aka| also known as| also_known_as| alt| arrests| awards| blank1_data| blank1_label| blank2_data| blank2_label| blank_data| blank_label| budget| burial| caption| casualties1| casualties2| casualties3| cause| charges| convicted| convictions| coordinates| coroner| date| deaths| duration| english_name| event| fatalities| filmed by| filmed_by| first reporter| first_reporter| footage| image| image_alt| image_name| image_size| injuries| inquest| inquiries| litigation| location| missing| name| native_name| native_name_lang| nongregorian| notes| organisers| organizers| outcome| participants| partof| patron| patrons| place| property damage| property_damage| publication bans| publication_bans| reported death(s)| reported deaths| reported injuries| reported missing| reported property damage| result| suspects| susperps| theme| thumbtime| time| title| type| url| venue| verdict| website }}

From the mid-1980s to September 2003, the inflation-adjusted price of a barrel of crude oil on NYMEX was generally under $25/barrel. During 2003, the price rose above $30, reached $60 by 11 August 2005, and peaked at $147.30 in July 2008.<ref name="tfc-charts.com">http://tfc-charts.com/chart/QM/W</ref> Commentators attributed these price increases to many factors, including the falling value of the U.S. dollar, reports from the United States Department of Energy and others showing a decline in petroleum reserves<ref> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref><ref> {{#invoke:citation/CS1|citation |CitationClass=news }} </ref> worries over peak oil,<ref> {{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Middle East tension, and oil price speculation.<ref>{{#invoke:citation/CS1|citation |CitationClass=news }}</ref>

For a time, geo-political events and natural disasters indirectly related to the global oil market had strong short-term effects on oil prices, such as North Korean missile tests,<ref> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref> the 2006 conflict between Israel and Lebanon,<ref> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref> worries over Iranian nuclear plans in 2006,<ref> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref> Hurricane Katrina,<ref>The Macroeconomic Effects of Hurricane Katrina, CRS Report for Congress</ref><ref>Hurricane Katrina whips oil price to a record high – The Times Online, 30 August 2005</ref> and various other factors.<ref name=Gross> {{#invoke:citation/CS1|citation |CitationClass=web }}</ref> By 2008, such pressures appeared to have an insignificant impact on oil prices given the onset of the global recession.<ref name="Oil Prices Fall As Gustav Hits">{{#invoke:citation/CS1|citation |CitationClass=news }}</ref> The recession caused demand for energy to shrink in late 2008, with oil prices falling from the July 2008 high of $147 to a December 2008 low of $32.<ref name=2010prices> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref> Oil prices stabilized by October 2009 and established a trading range between $60 and $80.<ref name=2010prices> {{#invoke:citation/CS1|citation |CitationClass=news }}</ref>


2000s energy crisis sections
Intro  New inflation-adjusted records  Possible causes   Effects   Forecasted prices and trends  End of the crisis  Possible mitigations  See also  Notes   External links   

PREVIOUS: IntroNEXT: New inflation-adjusted records
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