Written by executive editor Tom Stundza, Purchasing's Energy Flash Report is a concise end-of-the-quarter round-up of news and events that influence spot-market pricing for energy products. The report also provides an early look at pricing action expected in the coming quarter.

Here's a sneak peak at the latest edition of Energy Flash Report (Q2, 2008, posted June 24): 

Oil prices surge to record levels while politicians, market insiders argue about causes

Despite weakened domestic demand for energy, buyers are facing a summer of soaring prices for oil-based products, natural gas and electricity. But, as the quarter closed, meetings were being held in Jeddah, Saudi Arabia, and Washington to determine ways to reduce purchase prices of crude oil, gasoline and other energy products. Supply uncertainties still exist in several oil exporting regions which, when coupled with healthy demand growth in emerging market countries, have pressured oil prices skyward. Also in the mix are such non-market factors as intensified speculator interest on commodity exchanges.

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