Rising stock markets pushed the price of oil up by eight per cent today (April 2nd) despite a rise in US unemployment.
Oil hit the $52 per barrel mark despite otherwise negative news due to hopes that the rising stock market may signal the economy is bottoming out.
Speaking about the rise in Brent crude oil prices in London Peter Beutel, oil analyst at Cameron Hanover, suggested that the rise does not necessarily mean oil prices will continue to increase: "We're getting a bounce today, but I'm not sure if it will go much higher.
"The market has a lot of reasonably negative factors going into it."
Such a bounce is a good sign for industry as a whole but those companies with large supply chains, and in particular those which rely on a large amount of fuel, may see the movement as a concern.
For many businesses, a third-party supply chain management organisation can ensure that such rises in the cost of key outgoings pose as little a threat as possible to the stability of a company's balance sheet.
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