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| Articles about Oil Prices |
| Oil Prices Tumble in Biggest Weekly Drop Ever | | 2008-07-19 20:20:36 | | NEW YORK — The price of oil recorded its biggest weekly drop ever, and a gallon of gas finally pulled back from its record high. So is it time to declare the energy bubble popped?
Experts won’t go that far just yet.
“It’s too early to say we’ve seen the worst of it,” said Tom Kloza, publisher [...] | | By: TexasFred's | | |
| | Economic Fears Slice Oil Prices for Second Day | | 2008-07-16 23:40:38 | | By JAD MOUAWAD and MICHAEL M. GRYNBAUM
Concerns about a slowing economy and rising inflation pushed oil prices down sharply for a second day on Wednesday, an unusual dip in the oil price rally that began more than six years ago.
The two-day decline totaled more than $10.50 a barrel, but analysts cautioned that it was still [...] | | By: ArticlesModern | | |
| | Some good news finally: Oil prices tumble on selloff | | 2008-07-15 13:40:00 | | Oil prices tumbled on Tuesday as US stocks sold off amid worries about America's economic health.Prices dropped more than $10 a barrel from their highest point of the day. At midday, light, sweet crude fell $6.27 to $138.91 in an extremely volatile session.The turnaround may not signal a lasting shift in sentiment prices have swung violently in recent days as they flirted with record highs. But it does underscore investor uncertainty about the sustainability of sky-high prices and their effect on the broader economy. ``They're slamming this pretty good. But remember, these $10 moves are becoming a little more commonplace,'' said Phil Flynn, analyst at Alaron Trading Corp. in Chicago.Earlier, the contract rose as high as $146.73 and fell as low as $135.92.The ingredients for further gains were in place early on. The dollar fell to a new low against the euro, prompting investors to pour money into oil as a hedge against inflation and made crude cheaper for overseas buyers. Meanwhile, thr | | By: Indian stock markets | | |
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| Reasons why soaring oil prices is good ? | | 2008-07-14 09:21:00 | | It's not rocket science. For many, a roundtrip bus or metro fare is easier to stomach than oil prices that in some places have reached new heights.Three quarters of Americans now believe more money should be spent on developing and improving mass transit systems, and cities are responding.Expansion and renovation projects are in the works for many cities in the US. Europe, meanwhile, is taking transit to the next level: Paris, which has been updating its light rail network , is installing energ y-ef ficient trains on several Mृtro lines, while London plans to increase its system's overall capacity by 50% by 2022.As fuel prices increase, bike shops across the US are reporting record sales, and Britain is even promoting a n at i o n a l “Bike Week” to encourage commuters to ride, not drive, to the office.Not only is twowheeling a cheaper way to travel, it’s also healthier. According to a research, for every dollar increase in the average real price of gas, overweight and obesity | | By: Indian stock markets | | |
| | Why Are Oil Prices Rising? | | 2008-07-06 12:09:00 | | By: James KingsdalecSaturday, July 05, 2008 4:11 PMJune was a good month for energy stocks and for the EIS portfolio but the broad market tanked. The impact of high energy prices on both inflation and consumer discretionary spending is being reflected in stock prices. Energy pressures present a special risk to economic stability by coming on top of the twin collapses in the credit and real estate markets.So far Mr. Market seems able to distinguish between the very healthy energy sector and the tenuous economy. I fear that at some point we’ll get a sustained - 1930’s style - bear market in all stocks which will take down the energy stocks along with everything else. In fact we’ve seen a few days like that already, generally followed by big pops in energy stocks later.That fear is why I have a commodity strategy included in the EIS portfolio. It is insurance against the collapse of energy stocks as part of a general market collapse. I implement it with options on long dated crude a | | By: How to be Rich, Happy and Free from Scams | | |
| | Real oil prices | | 2008-07-02 04:48:42 | | Real oil prices. Despite their substantial increase since 2003, oil prices during 2004 were 45% less than what they were in 1981. In constant 2000 dollars, oil prices averaged $61.75/bbl in 1981, but they hit only $35/bbl in 2004. The average of real oil prices in 2005 was slightly higher than 2004's average, but the 2005 figure was still more than 40% lower than the 1981 average. If we include the effect of dollar devaluation when measuring the purchasing power of OPEC oil exports. we find that real oil prices have declined even further. In fact, 2005's record oil prices would be similar to rates that prevailed in 1983, when oil prices declined by about 30% from their 1981 peak. Per capita income. Current per capita income in Saudi Arabia, for example, is much lower than the record levels achieved in the early 1980s. It is slightly higher than half what it was in 1981. Furthermore, despite record oil prices, current per capita income in Saudi Arabia is equal to that of 1972, a year be | | By: Finance fantasy | | |
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| Oil Prices: Backward to the Future? Part V | | 2008-07-02 00:22:17 | | Recommended ReadingFor a grand historical sweep of the role of oil in economics, politics, and the modern world in general, see:Daniel Yergin, 1992. The Prize: The Epic Quest for oil, Money, and Power. New York: Simon & Schuster.A more sophisticated look at the ability of foil futures to predict spot prices can be found in:Imad A. Moosa and Nabeel E. Al-Loughani, 1994. "Unbiasedness and Time-varying Risk Premia in the Crude oil Futures Market," Energy Economics 16(2): 99-105.Sergey V. Chernenko, Krista B. Schwarz, and Jonathan H. Wright, 2004. "The Information Content of Forward and Futures Prices: Market Expectations and Price of Risk," Board of Governors, International Finance Discussion Papers no. 808 (June). The explanation of backwardation gets a more detailed (and technical) treatment in:Robert Litzenberger and Nir Rabinowitz, 1995. "Backwardation in oil Futures Markets: Theory and Empirical Evidence," Journal of Finance 50(5): 1517-45.A good introduction to arbitrage in the futu | | By: Finance fantasy | | |
| | Oil Prices: Backward to the Future? Part IV | | 2008-07-01 14:34:26 | | Storage benefits may sound strange, but the notion of a convenience yield is quite intuitive. A convenience yield is simply the benefit you get from owning an object. For instance, if you own a car, you get to drive it; if you own a house, you get to live in it; it has value beyond its worth as a financial asset. Another example would be art: You can admire your Duchamp as it hangs in your living room. A share of stock provides a less ethereal example; as it can pay you a dividend of cold hard cash, something you won't get if you merely have the right to buy it in the future.How docs this work out for oil? Well, for one thing, oil's explicit storage costs are quite small because it is naturally stored in the ground. Explaining backwardation, though, requires more than low storage costs, it requires convenience yield, and not even J.R. Ewing would think a barrel of oil in his sitting room had quite the charm of a Duchamp, Rodin, or Cassait.How, then, can oil have a convenience yield? Fi | | By: Finance fantasy | | |
| | Effects of the fall in oil prices | | 2008-07-01 08:37:25 | | Oil prices have fallen by more than 30% since October 1997, and in mid-March the price was NOK 95 p/b (USD 12.5). The underlying assumption in this Inflation Report is that oil prices will remain at NOK 105 p/b (1998 kroner) this year and in 1999, which is marginally lower than the average so far this year. By way of comparison, the average oil price was NOK 133 p/b in 1996 and NOK 135 p/b in 1997. Changes in oil prices are of primary importance to central government revenues and the current- account balance. According to our projected oil price of NOK 105, the fall in oil prices may, in isolation, entail that central government oil revenues are nearly NOK 20bn lower than calculated in the National Budget for 1998, and revenues in 1999 could be reduced by almost NOK 25bn. If oil prices remain as low as the level prevailing at mid-March, the reduction will be even greater. However, as a result of the tax system applying to oil companies, the bulk of the effect on central government reve | | By: Finance fantasy | | |
| | Does High Oil Prices Are Good For Everyone ? | | 2008-07-01 03:04:37 | | There is a simple way to lower the price of gas. The U. S. Postal Service operates a vast fleet of 200,000 delivery vehicles. Suspending Saturday deliveries, thereby removing those trucks from service one day a week, would conserve a billion gallons of gasoline, increase the supply, and drive down the price at the pump. It is an idea whose time has come.So why, with everyone espousing energy conservation, are the Powers That Be so reluctant to embrace such an obvious fuel-saving measure? As it turns out, everyone actually likes high gas prices. Here's why:1. Cash-strapped OPEC nations are seeing much-needed profits.2. Big Oil is finally making money.3. More money in Big Oil's pockets means bigger contributions to politicians' war chests.4. Big Oil-controlled Congress can push through legislation for drilling in ANWR.5. Lower consumption means Big Oil companies can pump, transport, and refine less product, saving even more oil in the long run.6. Oil commodities futures are making a kill | | By: Finance fantasy | | |
| | Oil Prices: Backward to the Future? Part III | | 2008-06-30 10:24:50 | | So it seems that futures prices are, in general, no better a forecaster of future oil prices than the spot price. The enthusiast of making oil price forecasts using futures might wonder if futures prices add information about future oil prices that spot oil prices do not. Alternatively stated, are forecasts that use both futures prices and spot prices better than forecasts that use only the spot price? Even in this case, the futures price adds little.Theory of Storage and Arbitrage The failure of the "futures equals expected future spot" theory of futures prices is far from a recent phenomenon. Many famous economists in the 193Os and 1940s, such as John Maynard Keynes, Sir John Hicks, and Holbrook Working, noted its problems, at least for "full-carry" markets, that is, markets where extensive storage took place. These economists were the first to realize that a closer look at the costs and benefits of storage might give a better explanation of futures prices.In one sense, the flaw in t | | By: Finance fantasy | | |
| | The Fundamentals of the Spike in Oil Prices | | 2008-06-29 22:15:24 | | CHICAGO, June 4 /PRNewswire/ -- "How can we explain such an extraordinary rally in oil prices? Is the answer as simple as supply and demand imbalances as many in the oil industry would have us believe? Or, is there something more sinister at play, such as speculation or, as some have accused, outright manipulation? Much to our own surprise, the underlying economic fundamentals of the market (i.e., supply and demand) go a long way in explaining the run-up in oil prices in recent years, but cannot alone account for the excessive rise we have seen this year," says Adolfo Laurenti, senior economist of Mesirow Financial, in his June issue of Themes on the Global Markets available at http://www.mesirowfinancial.com/economics/laurenti/themes/globalmkts_0608.pdfIn his June newsletter, Laurenti takes a closer look at factors that have contributed to the most recent run-up in oil prices and shares his forecast for these, including: -- Demand for oil outstripped its supply much of the last decade | | By: Finance fantasy | | |
| | Oil Prices: Backward to the Future? Part II | | 2008-06-29 07:43:07 | | A glance at figure 1 reveals several characteristics of oil prices. One is, with apologies to the great stock speculator Bernard Baruch, that they fluctuate. The second is the large (if not steady) increase since 1999. The third pattern is a bit more subtle, but equally important: Spot prices are usually above futures prices. In futures market jargon, this is known as backwardation, and the oil market is in backwardation more than two-thirds of the time. What does this tell us about the oil market?One of the first guesses about why the current spot price is above the futures price is that prices are expected to fall. In other words, the futures price is the expected future spot price. After all, if you think the spot price in six months will be higher than the six-month futures price, there's a profit to be made: You can buy the futures and in six months turn around and sell the oil at the higher spot price. People doing this should bid up the futures price until there is no more profi | | By: Finance fantasy | | |
| | | Oil Prices: Backward to the Future? Part I | | 2008-06-26 09:08:04 | | Bad as the economic consequences of higher oil prices might be, the fog surrounding their future path only makes things worse. People wonder, can they go higher? Will they fall? To gain some clarity, many observers have looked to oil futures prices as a quick and easy means to forecast the direction of oil prices. After all, that is the market where experts trade contracts for the future delivery of oil. Unfortunately, futures prices do not predict well. A close examination of the futures market may help us understand the forces affecting oil prices, but won't tell us much about where those prices are headed.
This Economic Commentary explains the basic workings of the oil futures market and the economic forces that set the spot and futures prices of oil.
Crude oil Futures
Until the late 1970s, oil prices were primarily determined by long-term contracts between oil producers and international oil companies. OPEC produced 67 percent of the free world's crude oil, allowing it to dominat | | By: Finance fantasy | | |
| | | | We All Know the Bad, but Hgher Oil Prices Can Be Good Too | | 2008-06-16 11:15:00 | | The price of oil goes up, whether because of supply and demand or speculation, or a mix of both. Supply will almost certainly reach its peak soon, if it hasn't already. Refiners, who pay the higher price, raise gasoline and diesel prices to protect their margins. We pay more at the pump. Goods have to be transported, which takes energy. As oil is our principal energy source, food prices rise, as do the prices of other products and services that require transportation. The price you pay for a good or service might stay the same, but the quantity or quality diminishes. For example, you may have noticed that meals on airlines have become scant or nonexistent. The list goes on.High oil prices are not intrinsically bad. Rather, they are bad only because we rely on oil. Besides the economic costs of our reliance on oil, which we experience in our daily lives, there are the social and environmental costs. Save for a few democratic oil producing states, like Norway, most of the world's oil com | | By: Slacker Wealth | | |
| | [OIL PRICES] Oil hits new all-time high | | 2008-06-16 09:24:19 | | The oil price spiralled to a new all-time high today of almost $140 a barrel after worse-than-expected manufacturing data for the world's biggest economy weakened the dollar.
A barrel of US crude for delivery in July hit $139.89 in US trading, breaking through the previous high of $139.12 set last...
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| | By: energy BLOG | | |
| | Reduce oil prices challenge by PM a gimmick - Mahfuz | | 2008-06-15 03:21:00 | | englishsection - PAS Information Chief Mahfuz Omar has found odd Prime Minister Abdullah Ahmad Badawi's challege to five Pakatan Rakyat states to lower the price of oil, as was promised in the respective parties' election manifesto.
Mahfuz questioned whether the Prime Minister does not understand or just acting so regarding powers at the state and federal level.
According to him, by making the | | By: No2umnO | | |
| | Speculators not to blame for surging oil prices: Paulson | | 2008-06-14 02:14:00 | | OSAKA - US Treasury Secretary Henry Paulson said on Saturday speculators were not to blame for surging oil prices, with 'all the evidence' pointing to tight supply and strong demand as the main cause.'In terms of financial investors and speculation and the role that plays, what I emphasise is that we're looking at that, we'll continue to look at that, but all the evidence points to supply and demand,' he said.'In the world today,' he added, 'what people want to do is look to simple short-term solutions.'I think there's a danger that if people say 'all this is speculators' then we won't do what we need to do. We don't want to misdiagnose the problem,' he told a press conference here after a meeting of Group of Eight finance chiefs.He said there had been no significant increase in global oil production capacity for the past 10 years, calling for new investment to tap sources of fossil fuels as well as alternative energy.'I think we would be making a mistake if we looked away from the maj | | By: How to be Rich, Happy and Free from Scams | | |
| | US airline catastrophe looms under record oil prices | | 2008-06-14 02:09:00 | | WASHINGTON - THE United States airline industry is set to crash as record oil prices threaten to push several carriers into bankruptcy, threatening 'our American way of life', an industry study said.'As a consequence of the skyrocketing price of oil, the US commercial aviation industry is in full-blown crisis and heading toward a catastrophe,' said a study issued by AirlineForecasts and the Business Travel Coalition on Friday.At current oil prices near US$130 (S$179) a barrel, several large and small US airlines will default on their obligations to creditors, beginning at end-2008 and early 2009, the study said.The grim industry snapshot comes as US airlines cut fleets, jobs and capacity and add fees as they struggle with spiralling jet fuel costs and a weak domestic economy.On Thursday, United Airlines and US Airways announced they would start charging US$15 for the first checked bag. Both carriers this month became the latest to try downsizing to survive the fuel crisis.The study sho | | By: How to be Rich, Happy and Free from Scams | | |
| | Oil Prices Drop at End of Volatile Week | | 2008-06-13 11:30:00 | | Crude oil prices fell on Friday but still held above 136 dollars at the end of a volatile week, as the market reacts to supply and demand news and movements of the dollar.
New York's main oil futures contract, light sweet crude for July delivery, dropped 1.03 dollars to 135.71 dollars per barrel during European office hours.
New York crude had struck a historic high point of 139.12 dollars one | | By: Vietnam Business Finance News | | |
| | Asian Markets Slips on High oil prices | | 2008-06-09 05:31:00 | | Asian markets could not carry their broad advance of previous week closing sharply lower today, with banking and automotive shares leading decliners as oil stayed near record highs and investors fretted the global economy could be headed into another round of credit market turmoil.Light, sweet crude oil for July delivery fell as much as 76 cents to $137.78 a barrel in electronic trading, after climbing nearly $11 a barrel to close at $138.54 Friday on the New York Mercantile Exchange. Friday`s surge in oil prices was driven by heightened concerns that Israel may attack Iran, one of the world`s biggest oil producers, and that a conflict could result in a blockade of the Straits of Hormuz, through which 20% of the world`s crude oil passes each day.Japan`s Nikkei 225 Average and the Topix index both closed 2.1% lower to 14,181.38 and 1,397.54 respectively. On the economic front, Japan`s index of leading indicators came in at 30.0 in April continuing its run for below the boom-or-bust thre | | By: Indian stock markets | | |
| | Oil Prices Raise Cost of Making Range of Goods | | 2008-06-08 04:59:35 | | By LOUIS UCHITELLE : Surging oil prices are beginning to cut into the profits of a wide range of American businesses, pushing many to raise prices and maneuver aggressively to offset the rising cost of merchandise made from petroleum.
Airlines, package shippers and car owners are no longer the only ones being squeezed by the ever-mounting [...] | | By: ArticlesModern | | |
| | Fewer, pricier flights and job cuts: airlines' response to oil prices | | 2008-06-08 03:48:00 | | PARIS - AS oil prices soar, airlines are coming back down to earth with a bump - cutting routes and capacity, ramping up prices and axing jobs as bosses freely admit the industry is in the 'worst crisis since 9/11.'Oil prices on Friday broke through the US$139-a-barrel (S$190) level for the first time in New York and US$138 in London, powered by a wilting dollar.A weakening US currency lowers the cost of dollar-priced goods, such as oil, for foreign buyers and drives up demand.With sober analysts such as Goldman Sachs suggesting the price could reach US$200 a barrel within two years, the aviation industry appears to be in a nose-dive.Airlines are particularly susceptible to hikes in the oil price, as jet fuel makes up a substantial part of their operating costs.For customers, already facing escalating food prices, and, at least in Europe, rising inflation and higher interest rates thanks to a credit-crunch, the effect is likely to be steep rises in ticket prices.'The industry needs to | | By: How to be Rich, Happy and Free from Scams | | |
| | Energy chief: Flat production behind oil prices | | 2008-06-07 11:17:51 | | AOMORI, Japan (AP) - Nations should fight rising oil prices by cutting subsidies and vastly increasing investment in energy, while oil-producing countries need to ramp up output and divulge more information about how much they produce, the U.S. energy secretary said Saturday.
Samuel Bodman, attending two days of meetings in northern Japan among energy chiefs from [...] | | By: TexasFred's | | |
| | Israel-Iran tension drives up Oil prices to all time high | | 2008-06-06 13:58:00 | | An Israeli attack on Iranian nuclear sites looks "unavoidable" given the apparent failure of sanctions to deny Tehran technology with bomb-making potential, one of Prime Minister Ehud Olmert's deputies said on Friday."If Iran continues with its program for developing nuclear weapons, we will attack it. The sanctions are ineffective," Transport Minister Shaul Mofaz told the mass-circulation Yedioth Ahronoth newspaper."Attacking Iran, in order to stop its nuclear plans, will be unavoidable," said the former army chief who has also been defense minister.It was the most explicit threat yet against Iran from a member of Olmert's government, which, like the Bush administration, has preferred to hint at force as a last resort should U.N. Security Council sanctions be deemed a dead end.This along with weaking US dollar, prompted a sudden spike in oil prices to USD 138 per barrel.U.S. crude oil prices rose more than $9 a barrel to a record $137.70 a barrel, the biggest gain in dollar terms in t | | By: Indian stock markets | | |
| | With oil prices high, Citgo takes its lumps | | 2008-06-04 09:19:45 | | Citgo Petroleum Corp. is off to its worst year in perhaps more than a decade as record oil prices cut into profits for its primary business of refining and selling gasoline and other fuels, Chief Executive Alejandro Granado said Tuesday in Houston.
“This year, even though the price at the pump is almost $4, this has [...] | | By: TexasFred's | | |
| | Web Hosting and Crude Oil Prices | | 2008-06-04 07:59:08 | | The increase in crude oil prices over the year caused an unprecedented rise in costs of web hosting companies. Prices quadrupled in one year. This made it extremely difficult for web hosting companies to survive.
Normally data center contracts are constant but due to the huge rises in energy costs, the data centers are forced to [...] | | By: Singapore Web Hosting Blog | | |
| | | Soaring oil prices may start to hurt Asia soon | | 2008-06-01 11:13:00 | | As region is net oil importer, impact on companies and consumers is rising By Bryan Lee, Economics Correspondent AS CRUDE prices breach all-time highs and the global economy is still tender from the United States sub-prime debacle, alarm bells are starting to sound over the relentless rise of oil. Analysts say oil prices may be nearing the point where Asian economies, including Singapore, will feel the pain from soaring energy costs. Slowing economic growth, led by a sputtering US economy, will make it harder for consumers and companies to shrug off the pain of bigger transport fees and electricity bills. Unlike the boom times of the past few years, wages and profits will be under downward pressure instead. While no one is pressing the panic button yet, caution is building u | | By: How to be Rich, Happy and Free from Scams | | |
| | Gas prices keep climbing even as oil prices drop | | 2008-05-29 08:09:51 | | NEW YORK (AP) - The gasoline price record keeps getting broken with each passing day. AAA puts the national average for a gallon of regular at a record $3.95. It’s jumped 35 cents in the past month and is 76-cents-a-gallon higher than a year ago.
If you need premium, it’s also never been more expensive. The [...] | | By: TexasFred's | | |
| | Is The Problem Gas/Oil Prices, Environmentalists, or Lobbyists | | 2008-05-26 00:40:00 | | OR COWARDLY PROSTITUTES POLITICIANS?Faultline has one of the best pieces I’ve seen on gas prices. I’d probably only link to it in the evening, but it brings up something I was going to write about yesterday but was sidetracked. Mentioned is the fact that travel is lighter than usual this Memorial Day. Where I am in New Mexico I WISH! Traffic is not down. Fact is, things are booming a little in Texas, Oklahoma, and New Mexico when it comes to oil. There is so much money flying around here it is annoying. Yesterday I went in town ... | | By: The Pink Flamingo | | |
| | Dollar Supported by Oil Prices Correction | | 2008-05-23 20:56:00 | | After reaching fresh record highs, oil prices eased on Friday, giving the Dollar some support in the early trading; but the US currency stayed in sight for a one-month low against the Euro on worries...
More at: http//moneymakinglounge.blogspot.com | | By: Money Making Lounge | | |
| | Dollar Continuing Its Slide As Oil Prices Rises | | 2008-05-22 16:10:00 | | The greenback traded near a one-month low against the euro and may weaken to $1.59 per euro and 101 yen in one month on speculation a surge in oil prices to record highs will increase inflation while...
More at: http//moneymakinglounge.blogspot.com | | By: Money Making Lounge | | |
| | Oil prices close at nearly $135 a barrel | | 2008-05-21 23:45:00 | | Oil prices closed yesterday at nearly $135 a barrel, and there still has barely been a peep from President George W. Bush about the crisis. A gallon of regular gas may soon surpass $4, making it more expensive to buy a gallon of gas than a gallon of milk. Did you ever think this day would come?What do you think? Is the government doing enough to help Americans deal with this absurd price for gas, or do you think their hands are tied? Share your comments by posting right here. You don't need to be a member to post. | | By: The Hudson Line Blog | | |
| | As Oil Prices Rise, Nations Revive Coal Mining | | 2008-05-21 22:24:42 | | By MARTIN FACKLER : BIBAI, Japan — These rugged green mountains, once home to one of Asia’s most productive coal regions, are littered with abandoned mines and decaying towns — backwaters of an economy of bullet trains and hybrid cars.
But after decades of seemingly terminal decline, Japan’s coal country is stirring again. With energy prices [...] | | By: ArticlesModern | | |
| | [OIL PRICES] The prices must be controlled. Gordon Brown | | 2008-05-16 01:25:23 | | The British Primier Minister Gordon Brown blamed global factors, especially record oil prices, for the economic slowdown and rising inflation in Britain during a series of major interviews Thursday.
Speaking on BBC Radio Four's Today programme, Brown called for oil prices to be controlled and said...
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| | By: energy BLOG | | |
| | Weak global markets, record oil prices pull domestic bourses lower | | 2008-05-08 07:18:00 | | The market succumbed to selling pressure today as weak global equities and soaring crude oil prices worried investors. All the sectoral indices on BSE, barring the BSE Metal index, were in the red. Software and banking shares were worst hit in today`s fall.European markets, which opened after Indian markets, were trading lower. Key indices in UK, France and Germany were down by 0.36% to 0.52%.Asian markets, which opened before Indian market, were trading mostly in red today, 8 May 2008. Key indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.32% to 1.13%. However, China`s Shanghai Composite was up 2.17%.US markets suffered sharp losses on Wednesday, 7 May 2008, on worries about inflation and higher interest rates as oil jumped to a record. Financials stocks took a beating on concerns that new disclosure requirements for investment banks will limit their profits. The Dow Jones industrial average slumped 206.48 points, or 1.59%, to 12,814.35. The Nasdaq Composit | | By: Indian stock markets | | |
| | Dollar fell as oil prices hit record high and worries for more corporate fallout from credit crunch | | 2008-05-06 12:04:27 | | Dollar fell as oil prices hit record high and worries for more corporate fallout from credit crunchThe Dollar fell on Monday for the first time in three sessions as oil prices hit a record high, sparking debate about the strength of the US economy. Federal Reserve survey showing the banking sector remained in the grips of a credit crunch. After trimming interest rates to 2% last week, the Federal Reserve hinted it may move to the sidelines and pause its aggressive seven-month easing campaign that has reduced the Dollar's appeal to global investors. The Fed next meets on June 24-25 and federal funds futures contracts were on Monday pricing in just a 12% chance of another 25bp rate cut to 1.75%. ECB President Jean-Claude Trichet warned again on Monday of "significant" inflation risks, suggesting benchmark rates would likely stay fixed at 4% when the central bank meets on Thursday.News and Events:The Dollar fell on Monday for the first time in three sessions as oil prices hit a record hig | | By: All About Investiment | | |
| | Why the Dollar Move inversely to Oil prices ? | | 2008-05-04 09:15:22 | | The correlation between oil prices and EUR/$ has spiked to an all-time high over the last six months.Hence, lower oil prices have been associated with Dollar appreciation.Historically,the link between oil prices and the Dollar has been weak ,with average correlation between WTI and EUR/$ less than 10% over the last ten years. But the recent link is statistically quite strong. For example, oil prices are highly significant in a simple regression model for EUR/$, which also includes chances in (nominal)interest rates. For this reason, it is worth thinking about the relationship again, especially given that there are some fundamental reasons why there should be a link.Why the Dollar may be Inversely Related to Oil PricesThere are three main reasons1. differences in tax structures in US and Europe tends to make US growth more sensitive to oil prices. In the US, the tax wedge between retail level energy prices and prices in the global energy market is minimal. In Europe, taxes account for m | | By: Finance fantasy | | |
| | Rising oil prices, economy concern pull US markets down | | 2008-04-09 22:24:00 | | US markets finished lower on Wednesday (Apr. 09, 2008) after oil prices touched new record high and a poor profit forecast from United Parcel Service renews concern about the economy.Oil price set another record by touching USD 112 a barrel for the first time in the futures market on Wednesday.The Dow Jones industrial average fell 49.18, or 0.39%, to 12,527.26. The Nasdaq declined 26.64, or 1.13%, to 2,322.12.Indian ADRs also felt the pinch of rising oil prices and concern about the US economy. Out of the total ADRs only ICICI Bank, HDFC Bank and Patni Computers advanced.Losers: Company USD (Price) % Chng Sterlite Industries India 19.41 0.72 Rediff.com 8.45 4.02 WNS (Holdings) 17.15 3.98 Wipro 11.38 3.89 Infosys Technologies 36 1.64 Satyam Computer 22.46 4.38 Tata Motors 15.44 1.53 Tata Communications 24.63 3.34 MTNL 5.05 0.59 Dr. Reddy`s 14.52 3.01 | | By: Indian stock markets | | |
| | High oil prices could hit India's growth | | 2008-04-08 01:50:00 | | India's hopes of reaching a 10 percent growth rate on a sustained basis may be dashed if oil prices continue to rule at over $100 per barrel. Even the Planning Commission in its approach to the Eleventh Five Year Plan has estimated that high oil prices could affect the growth rate by up to 0.5 percent.If this assessment, clearly a conservative one, is correct then the country will find it difficult to continue on a high growth path for the next few years. As of now, there is no indication that o | | By: Brand Mantra | | |
| | Please dont raise fuel oil prices | | 2008-03-23 20:22:59 | | Semarang, People hoped the government would not raise fuel oil prices, although the price of the strategic commodity on the world market has reached 110 US dollars per barrel which forced the government to increase its oil subsidy.
“The government should not increase fuel oil prices because our life is now already difficult as the prices [...] | | By: Indonesia First | | |
| | | | OiL PRICES: Oil eases below $105USD | | 2008-03-10 10:20:59 | | Oil fell below $105 a barrel on Monday, but remained within sight of an all-time high as investors sought oil as a hedge against a depressed U.S. dollar and inflation.
A rush by financial funds into commodities and political tensions are the prime drivers of a rally that took oil to a record...
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| | By: energy BLOG | | |
| | OIL PRICES: Crude Oil May Surge to $130 This Year, BlueGold's Andurand Says | | 2008-03-07 07:32:59 | | Crude oil may reach a record $130 a barrel this year because pension funds are investing more in commodities, said Pierre Andurand, the chief investment officer of BlueGold Capital Management LLP, a hedge fund.
The outlook for oil over the next five years is also ``bullish'' as producers find it...
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| | By: energy BLOG | | |
| | Crude Oil Prices to Decline by $10 to $15, Pickens Tells CNBC | | 2008-02-21 20:57:00 | | Crude oil prices will decline by as much as $15 a barrel in the second quarter, and will touch $100 per barrel in the second half of the year, billionaire hedge- fund manager T. Boone Pickens told financial news network CNBC. ``Oil is going to back off here in the second quarter,'' Pickens said in an interview on CNBC. ``It'll be back above $100 in the second half.'' He said natural-gas prices were ``unusually high'' now, and will retreat after a current spell of cold weather in the U.S. He told CNBC that he was short on both natural gas and oil. He didn't provide any more detail on his short positions in both commodities. A short position is a bet that prices will decline. | | By: Indian stock markets | | |
| | | | Crude oil prices break through $100 a barrel barrier | | 2008-01-02 13:17:00 | | US crude oil prices hit the psychological barrier of $100 a barrel for the first time today.Surging economies in China and India reliant on oil and gasoline sent prices soaring last year, while tensions in oil producing nations such as Nigeria and Iran have increasingly made investors nervous. Fresh outbreaks of violence in Nigeria helped give crude the final push over $100 (£50.50). Bands of armed men invaded Port Harcourt, the centre of Nigeria's oil industry yesterday, attacking two police stations and raiding a hotel lobby. The fact that several Mexican oil export ports were closed due to rough weather added to the gains, as did a report that the producers' cartel Opec may not be able to meet its share of global oil demand by 2024. Light, sweet crude for January delivery shot up by $4.02 to $100 a barrel on the New York Mercantile Exchange, before slipping back to $99.15. Crude prices, which have nudged the $100 milestone for months, rose in recent days following concerns about | | By: Indian stock markets | | |
| | OiL PRICES: Rises After Report Shows U.S. Consumer Spending Surge | | 2007-12-21 23:27:16 | | Crude oil rose more than $2 a barrel in New York after a U.S. government report showed consumer spending gained the most in more than two years, signaling economic growth and oil demand may be stronger than expected.``Energy prices got a shot in the arm when consumer spending showed a much brisker pace that what people were looking for,'' said James Cordier, founder of Liberty Trading Group's OptionSellers.com in Tampa. ``That would add strength to the idea that demand could still be strong.''READ MORE... The Commerce Department report comes as oil heads for its biggest annual gain in five years. The 1.1 percent jump in consumer sales last month may reduce the possibility that the economy will contract this quarter. Oil has fallen 6 percent from a record $99.29 on Nov. 21, on concern demand may decline as economic growth slowed.Crude oil for February delivery rose $2.25, or 2.5 percent, to settle at $93.31 a barrel at 2:50 p.m. on the New York Mercantile Exchange, the highest clos | | By: energy BLOG | | |
| | OiL PRICES: Is decline on concerns about economic growth | | 2007-12-21 00:09:58 | | Oil futures gave up earlier gains and settled lower today as concerns about the economy overrode forecasts that OPEC oil shipments were falling.In particular, energy investors were shaken by today's Conference Board report that its index of leading indicators dropped 0.4 percent in November to the lowest level in more than two years, said James Cordier, president of Liberty Trading Group in Tampa, Fla. Declines in the index tend to precede economic slowdowns or recessions."That is basically fulfilling what people are fearing," Cordier said.Energy traders worry that a slowing economy will mean reduced demand for oil and gasoline.Earlier in the day prices jumped $1 a barrel after Dow Jones Newswires reported that Oil Movements, a British tanker tracking firm, said it expects crude shipments from Organization of the Petroleum Exporting Countries will fall by 230,000 barrels a day to 24.2 million barrels a day during the four weeks ending Jan. 5. The report reversed earlier Oil Movements | | By: energy BLOG | | |
| | OiL PRICES: $90 dollars before US inventories | | 2007-12-12 11:51:19 | | Oil prices climbed above 90 dollars on Wednesday as the market awaited the latest weekly snapshot of US energy inventories and after crude had jumped sharply the previous day.
New York's main contract, light sweet crude for January delivery, added 67 cents to 90.69 dollars per barrel.
Brent North...
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| | By: energy BLOG | | |
| | UNITED KINGDOM: Oil prices slip back after strong rally | | 2007-12-12 10:13:19 | | World oil turned lower on Friday after rebounding above 90 dollars the previous day on easing concerns that slower US economic growth would dampen crude demand, traders said.
In London, Brent North Sea crude for January delivery lost 31 cents to 89.87 dollars per barrel. New York's main contract,...
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| | By: energy BLOG | | |
| | Oil Prices Drop Below $90 a Barrel | | 2007-11-30 08:58:31 | | Don't hold your breath. When and if crude hits $100/barrel, Design Glut will produce 100 limited edition Crude Necklaces with a high gloss black surface finish. The pieces can be seen a symbol of mourning for the fossil fuel... | | By: The Worlds Best Ever | | |
| | | UNITED KINGDOM: Oil prices jeopardize cut in UK interest rates | | 2007-11-24 12:54:50 | | Rising energy prices are making it difficult in Britain to justify a cut in interest rates, according to the Bank of England's deputy governor Rachel Lomax. Lomax, who is a member of The Monetary...
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| | By: energy BLOG | | |
| | UNITED STATES: Oil prices hit record highs | | 2007-11-22 11:20:34 | | Crude oil prices have hit new record highs, reaching about $100 per barrel as the US dollar continues its decline against the euro.
US light sweet crude hit a record of $99.29 in Asian trading while...
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| | By: energy BLOG | | |
| | Memo To The Drive BY Media: Stop Lying About The Economy And Oil Prices. . . . | | 2007-10-17 07:11:44 | | Despite 23 quarters (all under Bush) of uninterrupted economic growth that has seen market fundamentals (GDP, inflation and unemployment) far stronger than during the Clinton years the MSM has continued to tell us just how bad the economy is. One of their classic tools is to tell us that somehow high oil prices means the economy is weak. This is yet another example of how these people cannot accept it’s not the 1970's anymore.Below is a chart correlating stock prices with oil prices:One cannot look at this chart and come to the conclusion that rising oil prices indicate that the economy is week.The opposite seems to be the case as rising oil prices have meant a bullish economy. Global stock markets have been rising amidst rising oil prices. What this means is the rising oil prices reflect a global economic boom and not hard times. Essentially, the global economy is growing at a rate that outstrips oil production. All of this doom and gloom talk is nonsense.Because liberals cant leave the 70's (the decade of their greatest achievement - they got Nixon!!!!!) they cannot think about economic issues clearly. Back in the 70's oil supplies were cut off and government regulation retarded the free flow of oil to places that needed it most.It shouldn’t be this easy to debunk the news produced by such highly educated journalists over and over. . .Related EditorialsGeorge Bush Finally Advocates Fiscal Responsibility by Threatening More VetoesWho Really Owns "Big Oil?" Answer: The American People | | By: Copious Dissent - Your Daily Dose of Liberty | | |
| | OIL PRICES: Oil price hovers near record high | | 2007-10-12 11:39:45 | | Oil prices hovered around $83 this morning, remaining within $1 of a record high, after a surprise decline in US stocks stoked concerns about supplies ahead of the peak winter demand season in the...
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| | By: energy BLOG | | |
| | OIL PRICES: IEA Says $80 Oil Reflects Concern Over Winter Supply | | 2007-10-11 21:20:21 | | The International Energy Agency, an adviser to 26 industrialized nations, said oil prices above $80 a barrel are the result of a lack of confidence stockpiles will be replenished during the Northern...
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| | By: energy BLOG | | |
| | | | | | | | | | AFRICA: Nigerian troubles push up oil prices again [video] | | 2007-07-07 12:03:00 | | Oil has surged above $76 a barrel, its highest price in nearly a year. That follows fresh violence in Nigeria, where the main militant group in Niger Delta has just called off a month-long ceasefire. Gunmen attacked a drilling rig and have kidnapped five oil workers. In August last year oil briefly reached $78.65, which was an all time record.Traders says right now supply is tight and demand continues strong. Ray Carbone at the New York Mercantile Exchange: "OPEC producing countries cannot produce enough petrol - gasoline - to satisfy their own demand, and so I think that is very supportive over the long term for oil prices. I think we're going higher. I would not be surprised at all."As well as OPEC cutting the amount of crude it pumps, Nigeria's output is being disrupted by militants who want more of the country's oil wealth spent on the impoverished region where much of the industry is based. They have stepped up their attacks in the last year and a half.In addition, in the US de | | By: energy BLOG | | |
| | oiL Prices: Betting On Oil? Pay Close Attention To The Facts | | 2007-06-18 08:21:00 | | Nothing loses you money like aphorisms. “This time it’s different” is a favorite, but another good one is “Buy the rumor, sell the news.” Well, in the case of oil, you may want to stick to it. Oil, unlike, say, gold, is a commodity of utility; not only do we need it to keep warm at night, but it’s not hyperbole or penmanship to say that it fuels most of the world’s economies. Nobody except OPEC and Hugo Chavez really thinks this is a good long-term plan for the human race, but it’s the real world. It’s also, on the short term, a relatively predictable asset. A predictable amount will come out of the ground tomorrow, and the day after that. Get too far on that train of thought and you’ll have to delve into the peak-oil world, but it’s safe to say that we know where it’s coming from, we really know where it’s going and we know exactly how to get it from A to B. The infrastructure for moving petroleum around the world is more efficient and less prone to error | | By: energy BLOG | | |
| | energy Stocks: it is hung on to a rally amid higher oil prices on Friday, with brokerage FBR singling out three companies from the jack drilli | | 2007-06-15 22:36:00 | | July crude rose 35 cents to close at $68 a barrel, a closing level not seen since April 13. July reformulated gas rose 2.1% to approach a three-year high of $2.272 a gallon amid tight supply. The Energy Department reported Wednesday that refinery utilization fell to 89.2% of capacity for the week ended June 8, down from 89.6% a week earlier. A week before that, capacity stood at 91.1%. See full story. The CBOE Oil Index (OIX :774.26, +12.41, +1.6% ) closed 1.6% higher at 775 points. The Philadelphia Oil (OSX.X :0.00, 0.00, 0.0% ) rose 1.2% by the closing bell and the Amex Natural Gas Index (XNG : 532.12, +6.10, +1.2% ) also rose 1.2%, hitting a record level during the day.The end week on up note as oil tops $68 The overall market also provided a push for the energy sector as the Dow Jones Industrial Average ($DJ :13,639.48, +85.76, + | | By: energy BLOG | | |
| | OiL Prices: Amex Oil Index advances to all-time high | | 2007-06-05 23:59:00 | | Oil and gas stocks closed lower Tuesday, with investors viewing weaker crude prices and an 80-point drop on the Dow Jones Industrial Average as a good excuse to lock in gains from the sector's recent rally. At the close, the Amex Oil Index (XOI : 1,397.58, -9.08, -0.6% ) was off 0.7% at 1,397 points, whittling down its 1.3% advance on Monday and slipping back beneath the 1,400-mark it first crossed Monday. The sector was trapped in a narrow range, however, with Hess Corp. (HES : 59.57, -0.91, -1.5% ) leading percentage decliners on a 1.5% drop to $59.57 a share. U.S.-traded shares of Royal Dutch Shell (RDSA : 76.70, +0.18, +0.2% ) topped gainers, up 0.2% to $76.70, joined by Exxon Mobil Corp. (XOM : 84.26, +0.04, +0.0% ) , which eked out a 4-cent advance to $84.26, the only other oil index component to post a gain. Behind the pu | | By: energy BLOG | | |
| | | SINGAPORE: Oil prices lower ahead of US inventory report | | 2007-05-17 13:56:00 | | Oil prices were lower today in Asian trade as the market looked ahead to an expected easing of tight gasoline (petrol) supplies in a weekly US energy inventory report, dealers said. New York's main oil futures contract, light sweet crude for delivery in June, was down 15 cents at 63.02 dollars a barrel after closing up a strong 71 cents at 63.17 dollars in late US trades.
Later Wednesday, the | | By: energy BLOG | | |
| | What have we learned about Oil Prices & Six Sigma? – ABSOLUTELY NOTHING! They both still gouge their customers | | 2007-03-21 02:35:00 | | Gasoline PricesI can remember in 1972, the year before OPEC began to flex its muscles, prices were $1.28 a gallon.October 1973 - A total ban on oil exports to the Unites States was imposed by the Arab oil-producing nations after the outbreak of the Arab-Israeli War. The ban was lifted March 16, 1974.December 31, 1973 - President Nixon announced stand-by gasoline rationing in light of the Arab oil embargo. Gasoline stations had already begun voluntarily closing on Sundays.Back in the 1973-1974 period and in 1979, folks waited for an hour or more on gasoline lines that at times stretched for miles, and people could only buy gas on alternate days, depending upon whether their license plate ended with an odd or even number. The federal government even printed gas-rationing coupons, although they were never used.I can still remember all of the so-called efforts and story after story how we need to invent new ways for power so that we don’t have to rely on Foreign Oil. Heck, I even did a r | | By: qualityg says ... | | |
| | Oil prices up again | | 2006-04-29 01:38:27 | | It's time to tighten our belts once again, as oil prices continue to soar. According to Inside Line crude oil closed above $70 a barrel for the first time Monday --- a price that is sure to have a significant impact on driving habits, car purchases and consumer spending.
The Gas Watch Web site said that the current U.S. average price for a gallon of gasoline stands at $2.81. Los Angeles motorists paid the highest price as of Monday: $3.35 per gallon. The lowest price, $2.19, is paid in Saint P | | By: Ford Parts Online Blog | | |
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