1. The main Point of the passage oil prices have stalled in their climb to 100 US.

This is
because oil supplies have been pushed to record level and so needs to be reduced
immediately. The price had fallen in December in most places considerably.

ESSAY
The writer’s purpose was to discuss the oil prices being held at a standstill in their climb to US
100. Oil investors did not find this to be a surprise, however, some analysts believe that it is the market
speculators that caused the oil prices to reach never to be seen record levels and predict that a
correction or sharp decline in the prices are imminent in order to fix the problem. The author also gave
comparisons of the oil prices in December to show the drastic reduction in them.

From the extract, it can be seen that the writer used various strategies and techniques in order
to bring across the purpose of this extract. Such strategies include: the use of statics, dialogue and
comparing and contrast. This was shown when he said, “A separate report yesterday by the
international Energy Agency (IEA) warning of an oil supply crunch by 2015 was not enough to send
prices higher.” This shows that from even before, it had always been a struggle to push the oil prices
higher. This was followed by “The lEA concluded that growing demand for energy in China and India will
boost the world's ail needs by more than 50 per cent by 2030.” which cemented the idea that there
would need to be an increase the oil prices but it had still not come.

Another technique that was identified in the extract and was very prominent was dialogue. This
was seen throughout the extract. "At some point, the market does actually discount the bullish
possibilities," said Tim and 5 Evans, an analyst at Citigroup Inc., in New York. "That risk of exhaustion is
very present here." which highlighted some analysis view point on other analysis blaming market
speculators for the outpaced levels of oil prices. This was also a contrast to other analysis, since the
extract stated that other analysis was not sure about it. “We got kind of a mixed reaction." said Phil
Flynn, an analyst at Alaron Trading Corp. in Chicago. This brought the writer’s purpose across clearly
since it showed the different viewpoints of the analysis about the oil prices being stalled.

The comparison and contrasting of the different prices before and after the reports were made
was also a strategy used in the extract. This was displayed at “Before the report's release, prices rose as
high as $98.62, a new record. December gasoline futures fell by $3.0 cents to $2. 405 a gallon on the
Nymex, and December heating oil futures fell $2.2 cents to $2.5858 a gallon.” etc. This proves that the
oil prices continue to decrease and thus make it even harder for it pass the US 100 mark while also
bringing across the writer’s purpose.

In concluding, It can be seen that the writer’s purposed had been achieved by the use of the
various language techniques and valid and current data and information.