Oil Prices

The fullest effect of the world’s economic slow down was felt on Wednesday when the OPEC's oil prices per cartel appeared powerless in its mission to shoot up prices even after agreeing a record breaking cut in their oil production. OPEC corporation is the leading oil merchant of the world, who at present controls nearly 40 per cent of the world’s total oil supplies, and had now announced a f

Fact: Oil prices have crashed from about $150 to $50 a barrel in the past months. (Source)Fact: The price of crude accounts for about 58% of the price of fuel at the pump (Source)Question: As crude fell to 30% of its peak price, and the price of crude makes 58% of the price of fuel at the pump, then how much should the price of fuel at the pump be today, compared to the "peak crude price" times?Qu

Navtej Kohli  had shows his views to take higher oil prices and global economy , now the crash in the world economy where not only US , UK such like big counties had shaken but also Asian market showed negative results and faces economy melt down . Although many countries government had tried to [...]

Crude-oil futures tumbled 6% to below $70 a barrel in New York, despite widespread expectations that the Organization of Petroleum Exporting Countries (OPEC) will reduce production at an emergency meeting later this week. Normally a planned cut in the crude oil supply would drive up the price of oil and eventually the price of gas at the pump. But the weakening economy, falling corporate earnings,

The US Department of Agriculture (USDA) said that food prices in the country are expected to surge between 4% and 5% in 2008, as reported by Guardian.co.uk. The department further revealed that the country has witnessed the highest annual increment of 5% in food prices since 1990. The prices of corn in June 2008 flared [...]

Oil prices continue to plummet in response to the crisis on Wall Street. Prices dropped more than a $10 a barrel in a dramatic crash as the continuing calamity in the stock market stoked fears of an economic disaster and signal another drop in U.S. energy demand. Only two months ago crude was at $145 a [...]

Despite oil prices falling around 23% over the past two months, we are still paying high prices at the pump. The reason for this is that the Australian dollar has also fallen around 14% against the US dollar during the same period, which has effectively eroded any benefit from lower oil prices.If the price of petrol is to fall, we need oil to continue its downward trend and the Australian dollar t

Saudi Arabia expressed satisfaction with recent steep falls in oil prices on Tuesday and appeared in no mood to change OPEC’s output policy at a meeting here as crude slipped to near 100 US dollars a barrel. “We have worked very hard since June’s meeting to bring prices to where they are now. I think everything [...]

The US dollar, inspired largely by plunging oil prices and growing pessimism over the economic health of the EU and the U.K, is going gangbusters of late. It traded at $1.4455 Wednesday, a seven-month high against the euro. On the other hand, oil prices continue downwards to $107.48 a barrel, as Hurricane Gustav’s path of destruction was [...]

The Dollar surged on Friday, recovering from the previous day's losses, as gloomy British growth data backed views of a slowing global economy and raised prospects of interest rate cuts outside the United States. A sharp drop in US crude oil prices to below $115 per barrel and comments by influential investor Warren Buffett that he has no bets against the Dollar also added to the US currency's upw

While many of us are heaving a sigh of relief on the recent events that saw oil prices going below $115, it is still far from normalizing to the prices that we had enjoyed some months back. Apparently a lot of political issues have been the cause and bordering nation disputes have likewise made oil [...]

As you are probably aware by now, the price of oil and thus gasoline at the pump is based on supply and demand. Demand has been low for the last few months. The price of oil had been going down slowly, I said "had" because it is now going back up. My guess is that the general public has decided that gasoline is now cheap enough to drive more. That in turn has driven the price back up. The cost of

Renewed weakness in oil prices and a break of 1.4850News and Events: The Dollar rallied to an almost six-month high against the Euro on Thursday amid growing concern over euro zone economic weakness and accelerating inflation in the United States.Traders sold the Euro after reports showed contraction in the Euro zone's economy in the second quarte

Navtej Kohli’s blog brings update on unsteady oil prices. World oil prices rebounded modestly from recent falls since a pipeline carrying crude from Central Asia to the West exploded locking up the oil supply for about 15 days tentatively. New York’s main contract, light sweet crude for September delivery rose 1.44 dollars to close at 120.02 dollars [...]

Russia has its own mysterious reasons for invading Georgia, one of its neighbors to the South, and there is some speculation that it would like to take on... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Investment firm Lehman brothers has indicated that they believe oil prices have peaked for the next few years, citing signs that tight supply and demand conditions are loosening. Oil peaked at over $147 barrel on July 11, and now has retreated back to $115.  Hopefully to continue to drop. High prices have led to reduced global and [...]

The Price of Oil has dropped again yesterday, to 118.60 as speculators backed away – coinciding (coincidentally) with the third day of protest by House Republicans. The House was called into recess last week for a five week vacation by Speaker Nancy Pelosi. Pelosi had continued to block a vote on an energy plan that would allow for offshore drilling, a popular energy plan with U.S. consumers.

The U.S. Federal Reserve is expected to hold interest rates steady on Tuesday, acknowledging financial conditions remain strained, but making clear it is still worried about inflation despite a... Thank you for the time reading this feed. To get more helpful content, tips, and links please drop by my blog site - click on the topic link above.

Above is a daily candlestick chart of crude oil and as you can see oil prices have fallen sharply over the last month. What I find interesting is that oil has formed a bullish engulfing pattern at a key support area. In my opinion this is quite bullish for oil. Below is a longer term view of crude oil which puts things in perspective as far as I am concerned. You'll notice how the 110 moving

Crude oil prices above 120 dollars a barrel are "abnormal" but they could fall to around 78 dollars under the right circumstances, the president of OPEC said Tuesday. "If the dollar continues to strengthen and the political situation improves, then the long-term prices will be about 78 dollars," Chakib Khelil said while on a visit to Indonesia.He added that the market was well-supplied with oil, r

90% of the world’s traded goods are transported by boat. As oil prices soar, tall wind-powered ships are looking like an increasingly viable alternative. Though this tall ship travels at a top speed of eight knots--half the speed of a modern cargo vessel--it is pollution-free. The 50,000 other merchant ships emit 800 million tons of CO2 each year.

  Oil right now is the Obama of commodities: The one remaining thing left bobbing in a sea of ennui and disenchantment. Lightweight yet full of perceived potential usages. An object of hope for the drowning, the desperate, the drifting. And those who prefer the rainbow sheen of surface refraction to deeper exploration. (...)Read the rest of [...]

High prices of crude oil may be due to a shortage of crude oil. The high prices of oil products - bought by consumers, as drivers - more inclined to other factors, such as taxes.Crude oil prices react to the balance between supply and demand in the short term, and the pace of investment in the longer term. If investments are not sufficiently in advance, oil supplies could be reduced in the longer

Crude oil prices dove nearly $16.20 a barrel last week on continual concerns that a weaker economy will lower overall demand on oil. Also tension between the U.S. and Iran have cooled off have helped lead to lower prices. The news spread across other major commodities, sending the CRB commodities index down 7.4 percent for the week.

Oil prices rebounded Thursday, gaining more than $2 at times as traders questioned whether this week's two-day plunge signals a real turnaround or just a breather for the bulls. Light, sweet crude for August delivery was up $1.51 cents at $136.11 a barrel less than an hour after floor trading opened on the New York Mercantile Exchange. The contract earlier rose as high as $136.75 and dipped as low

Amazingly, tbe price of oil has dropped considerably the post few days and yet I am hearing more and more about decreasing the time it takes to get a nuclear power plant up and running. People! Wake up and remember 3 Mile Island and Chernobyl. Do we really want to be stampeded into making rash decisions and rushing into pushing forward with a power source that leaves us with the problems of dea

The reason our utilities are so low is due to a) We live in CA and b) We keep the thermostat set really low or really high. Last winter, we did our first season together without any heating(*). It was my second season without any heat having gone “heating-less” for a winter in a central [...]

Prices for front month crude oil contracts fell as much as $10 during the trade session as economic health worries, decreased demand and a mixed dollar played significant roles in the price drop.Social Bookmarking Add to OnlywireAdd to: | Technorati | Digg | del.icio.us | Yahoo | BlinkList | Spurl | reddit | Furl |

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

“Many on Wall Street are cheering the possibility that further “demand destruction” will ultimately lead to significantly lower oil prices. After all, this is basic economics. Prices are a function of supply and demand, and as demand drops, prices must follow. This is simple logic, wrongly applied.” [...]

Oil prices nosedived by almost five dollars on Tuesday as falling global equities and resurgent concerns about an economic slowdown stoked fears about future energy demand, traders said.The oil market, which hit record heights close to 147 dollars a barrel last week, also sank after the Group of Eight (G8) rich nations warned on soaring crude costs and appealed for more production, they added. Rea

The hard facts on Oil Prices The world price of oil in US dollars has doubled in the last year (June 2007 to June 2008) from US$67/barrel to over US$135/barrel The world price has gone up by 6 times in 6 years, from US$20/barrel in 2002 to over US$135/barrel by mid 2008 With hindsight we can see that the great cheap oil era lasted 16 years from 1986 to 2002 when the price was

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

Prices of crude oil dropped over $1 a barrel Friday on hopes that tensions related to Iran's nuclear program would cut the chances of American or Israeli attack. Crude oil prices had reached an all-time high of $145.85 Thursday.

Dr Chakib Khelil, the President of Opec, predicts crude oil prices will rise again over the coming weeks, particularly if the European Central Bank decides to raise interest rates. Dr Khelil believes the falling dollar is contributing to the surging price of crude oil. He takes the view that boosting Saudi Arabia's oil production will not solve the problem. Delegates at the World Petroleum

  Oil prices jumped beyond 142 dollars a barrel on Tuesday after the president of OPEC said there was uncertainty surrounding future investment in facilities to boost crude output.

As we've pointed out earlier, oil refining is not the business to be in these days. Refiners have been hit hard by skyrocketing crude oil prices because they... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Last night on Coast to coast - Ian made a great comparison of OPEC to a parasite sustaining its host just enough to live comfortably off of it. This is not a good situation. Stratospheric crude oil prices precipitated by speculation are wreaking havoc on the US economy. Based on income tax withholdings data from the Daily Treasury Statement, the wages of all U.S. workers on payrolls were

“Oil prices have barely budged based on the Saudi Summit. There has been no summer sell-off, and I’d be surprised to see a significant pullback as the summer driving season kicks into gear.” — Byron King by Byron King Baltimore — (TFN): The returns are coming in from the distant precincts of the oil patch, and the [...]

VIENNA, Austria (AP) — A faltering dollar, Mideast tensions and concerns over supply disruptions out of Nigeria propelled oil prices above 8 a barrel Tuesday, less than away from crude’s trading record…. Related posts `Oz,’ `2001,’ `Vertigo’ among AFI top genre flicks (0) `Oz,’ `2001,’ `Vertigo’ among AFI top genre flicks (0) `A Catered

VIENNA, Austria (AP) — A faltering dollar, Mideast tensions and concerns over supply disruptions out of Nigeria propelled oil prices above 8 a barrel Tuesday, less than away from crude’s trading record…. Related posts `Oz,’ `2001,’ `Vertigo’ among AFI top genre flicks (0) `Oz,’ `2001,’ `Vertigo’ among AFI top genre flicks (0) `A Catered

Airline shares descend as oil prices rebound By Christopher Hinton, MarketWatch Last Update: 6/20/2008 3:13:00 PM NEW YORK (MarketWatch) — Airline stocks were declining Friday on rebounding oil prices. The Amex Airline Index (XAL) slipped 7.5% to 17.99 points with all of its 14 components in the red. The index climbed more than 10% in prior-day trading after China said it would [...]

Oil prices fell almost $5 a barrel to $131.93 today. That's a pretty big drop, and the airlines responded accordingly, as they had a huge day. As you might imagine (especially from the title), I also had a good day as a result. The portfolio gained over $8,400 today, on the strength of both AMR & UAUA (+$9,100).Today's gain erased all of Tuesday and Wednesday's losses, plus added another $2,200. S

Crude oil declined for a third day amid concerns that slower economic growth will curb consumption of oil products. Oil has retreated more than $7 from yesterday's record of $139.89 a barrel. German investor confidence dropped to the lowest in more than 15 years in June as surging inflation hit... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

SINGAPORE: Oil prices eased on Monday after the United Nations chief said top OPEC crude producer Saudi Arabia agreed to increase production and did not want to be blamed for the impact of soaring prices. New York’’s main oil futures contract, light sweet crude for July delivery, was 86 cents lower at 134.00 dollars a [...]

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 d

Intercontinental Exchange may be forced to limit the size of U.S. oil trades on its London energy market, U.S. Commodity Futures Trading Commissioner Bart Chilton said Friday. Intercontinental, known as ICE, controls about one-fourth of the trading of U.S. West Texas Intermediate oil futures, with... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Why is Badawi still smiling? Find out for yourself! You don’t have to be a rocket scientist to pass the test…   Oil producers   I produce lots of oil The international oil prices go up I make lots of money: I win   Non oil producers   I don’t produce any oil The international oil prices hike the gasoline prices I loose lots of money: I [...]

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

If you want to know the latest news in oil sector and also wish to keep track of the wavering oil prices, Navtej Kohli wordpress blog is your one stop destination. After two days of decline, prices jump $6 in early trading. Refiners have resisted buying more oil during the latest price run-up, leading to an [...]

SINGAPORE: World oil prices fell in volatile Asian trade on Thursday after rising earlier following a US government report that showed American crude reserves dipped for the fourth week in a row. New York’’s main oil futures contract, light sweet crude for July delivery, was 1.12 dollars lower at 135.26 dollars a barrel [...]

Image: Flickr Mountain MikeRural areas in the U.S. are now feeling the profound effects of mounting gas prices, more so than in other parts of the country, due to the combination of lower incomes and heavier dependence on farming equipment, tractors, pickup trucks and vans. In addition to other trends (gasoline theft, buying less meat, switching jobs for a shorter commute), the dilemma has l

“Take a look at the chart of Western Refining (WNR:NYSE)… High oil prices have been disastrous for WNR.” — Andrew Mickey by Andrew Mickey Baltimore — (TFN): Oil hits $140 and could be going to $200. Buy oil stocks. Oil prices go up, oil stocks go up too, right? Actually, that statement couldn’t be further from the truth. Take [...]

“Al-Naimi has pumped hope back into the system after last week’s inflation terror hit the markets. Oil prices closed at $134.39 on the New York Merchantile Exchange.” — Stephanie Grimmett by Stephanie Grimmett Baltimore – (TFN): Well, at least oil prices are sensitive in both directions. Saudi Arabian oil minister Ali al-Naimi called for a conference [...]

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

NEW YORK: Oil prices have shot up more than $10 to a new record above $139 after a major investment bank predicted a spike to $150 in the coming weeks and rising tensions in the Middle East left investors uneasy about supply.Light, sweet crude for July delivery jumped as high as $139.01 on the Nymex [...]

People are complaining and the economy is still down and yet we see another round of oil price hikes, it seems like this never ending story will keep on headlining the news daily. Apparently another price increase for crude oil has been declared but you don’t see people lining up and filling up their tanks [...]

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

“It’s not excluded that, after having carefully examined the situation, that we could decide to move our rates for a small amount at our next meeting. I didn’t say it’s certain. I said it’s possible.” — European Central Bank President Jean-Claude Trichet by Stephanie Grimmett Baltimore – (TFN): You can blame a frenchman [...]

I'm just about to go to work, so this will be a bit of a combined quick hit post.Not so long ago I posted my annoyance with somewhat backwards, in my view, behaviour regarding environment and health. As I was doing my news rounds today, I came across this piece on ways beyond the old changing light bulbs in order to reduce GHG emissions:Using a spring-driven clock instead of an electric prevents 4

EXPLAIN IT FOR ME AGAIN, PLEASE, YE DEFENDERS OF BIG OIL I know I’m a pain in the ass, but this isn’t making sense yet. --Jimmy Z The price of a barrel of oil is down to about $122, down $9 from last Wednesday – a full week of dropping prices. Gasoline consumption is down all over the country.  So (and you can guess my question), why aren’t the pump prices dropp

Living The American Dream In the past decades, a new form of family vacationing taken root, or perhaps route would be a more ironic term, in the hearts of American families. Ah yes, the RV. These tin cans are a large investment and represent cherished memories and the promise of more to come.   A home away from home, newer models of the RV can be upgraded to have all the amenities of a home.

Let us dwell on three key US statistics, one of which is no longer published to cover the national embarrassment. The synthetic recreation of M3, the former lode star of monetary aggregates, shows a year-to-date increase of 16.7 per cent. That crudely means there are 16.7 per cent more dollars in circulation than a year [...]

Close on the heels of President George W Bush’s remarks linking Indians’ food habits to rising global prices of commodities, the United States has now partly attributed the surge in oil futures to the increased demand in India and China. “There are a lot of different ways that we can reduce our dependence, but we [...]

By Associated Press 28 May 2008 Original URL Declining oil reserves and investment have forced Indonesia to quit the Organization of Petroleum Exporting Countries even as other members cash in on soaring global prices, the energy minister said. Purnomo Yusgiantoro said Wednesday that Southeast Asia's only OPEC member no longer belonged among exporting heavyweights like Saudi Arabia, Venezue

“Many investors are feeling left out because they haven’t been part of the incredible bull run energy companies have enjoyed in the last few years. But have no fear. It’s not too late to grab a piece of the pie.” — Keith Fitz-Gerald by Keith Fitz-Gerald Baltimore – (TFN): Many people are [...]

Regulators are going to look more closely at the trading of oil. According to The Wall Street Journal "U.S. regulators disclosed a broad nationwide probe into... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

“Yes, oil is overbought. Yes, oil is going to correct at some stage. But let’s get this clear - it’s not a bubble.” — Dominic Frisby Blogger’s note: Dominic Frisby had some great commentary on our current record oil prices in a recent Money Morning (UK) message to his subscribers. Dominic is from our London affiliate [...]

5-27-08 GMT - Oil prices declined for the first time in over a week today leading to a rise in US Stocks. If oil prices continue to retreat it could give the Fed breathing room concerning inflation and give them more reason to not lower interest rates. If oil continues to decline and US stocks continue [...]

Dubai is feeling the searing heat of the oil boom in the Middle East with exports rocketing by 79 per cent in the first quarter, and total non-oil trade in the region’s commercial hub city up by 46 per cent to $58billion. This is a fantastic performance by any yardstick. Note that these figures exclude oil [...]

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

The Indonesian government finally announced an increase in fuel oil prices despite strong protests from different organizations in the country. On the occasion, the government also announced its decision to provide direct cash assistance to low-income families who will be affected by consequences of the government`s measure to raise fuel oil prices.Energy and Mineral Resources Minister Purnomo

High oil prices are derailing the mortgage market this week, taking an almost-vertical path higher.  Since mid-February, prices are up by 50 percent. Rising oil prices can be a threat the U.S. economy because with every extra dollar that Americans pay to energy companies, there is less money available for every other company that makes up our national economy. Strangely, it comes at a time w

When oil was at $65 almost no one believed it would double. There were a few nuts making the case, but they were ignored like Galileo was when he said the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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

Raising production has not been enough to curb the buying frenzy this spring. Goldman Sachs has warned that prices could reach $200 in a final spike, and even the bears at Lehman Brothers say there may be enough momentum to keep the boom going until Christmas. It is unclear whether hedge funds and investors piling into [...]

“Now, Congress has voted to stop adding oil to the national Strategic Petroleum Reserve (which was created in the 1970s to smooth out pricing disruptions and supply problems). Talk about missing the point!” — Keith Fitz-Gerald by Keith Fitz-Gerald, Money Morning Baltimore – (TFN): First there was the trillion-dollar pork fest [...]

Someone is not telling the truth about oil supply and demand. It appears to be the fellows over at OPEC. According to Bloomberg, Abdullah bin Hamad al-Attiyah,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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,

“I don’t put a lot of faith in macro predictions — as no one can predict the future. But you can study track records. You can look at history. History reveals some interesting clues about what the future may hold.” — Chris Mayer by Chris Mayer Baltimore – (TFN): Has [...]

Although crude oil prices had recorded another new high at US$130 per barrel yesterday but surprisingly companies like Keppel Corp and Sembcorp Marine are not taking advantage of this news related to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Oil futures crept higher Monday while retail gas and diesel prices reached new records, adding to the pressure on drivers planning road trips for the coming holiday weekend. Americans are now paying an average of $3.79 for a gallon of regular gas, according to a survey by AAA and the Oil Price... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Sales of new SUVs and pickup trucks have fallen about as far as the cost of a barrel of oil has soared. SUV sales were down by almost a third in April from a year earlier, and light truck sales at General Motors were off 32% over the same period. Chrysler’s dropped 31%, Ford’s 25%. Many who already own one or more are putting them on the sale block — with less-than-spectacular succes

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... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

“We saw exactly the same thing with uranium last year, we saw it with wheat, corn and soybeans this year; we saw it with copper, lead, zinc and nickel, we’ve just seen it with rice.” — Dominic Frisby by Dominic Frisby, MoneyWeek Baltimore – (TFN): When a commodity or [...]

Where Are Oil Prices Taking Stocks?So far the stock market has mostly ignored the jump in crude oil prices, but high energy costs could eventually take their toll Link - Mon, 12 May 2008 13:52:00 GMT - Feed (1 subs) Sent using SendMeRss.com. Visit here to unsubscribe from "2-business" via X2 in Google. Recommended Feeds/Actions Subscribe DealMeRSS.com - Great Deals Delivered

London: Not so long ago, being a taxi driver in London was considered a pretty good gig. (...)

Traditionally, import of crude oil has occupied the lion share of India’s import bills and although India has been doing exceedingly well in other sectors in bringing down the trade deficit over the last decade, crude oil has always made Indian balance sheet look bad. Naturally, when the price of crude oil touched a record [...]

NEW YORK: Oil futures extended their seemingly relentless advance, rising to a new record $123 a barrel.Light, sweet crude for June delivery hit a new trading record of $123.89 in after-hours activity on the New York Mercantile Exchange after settling up $1.69 at a record close of $123.53 a barrel.Increase in oil prices has been experienced after reduction in US oil reservoirs and increase in its demand.

GBPUSD nearing key support in big picture after recent range trading. ECB and BOE on tap tomorrow. MAJOR HEADLINES – PREVIOUS SESSIONCanada Apr. Ivey PMI out at 57.6 vs. 54.0 expected US Weekly ABC Consumer Confidence dropped to -46 vs. -41 expected and -41 the previous week UK Nationwide Consumer Confidence out at 70 vs. 74 expected Australia Apr. Performance of Construction Index out at 42.6 vs. 47.7 in Mar.THEMES TO WATCH – UPCOMING SESSIONKey Risk Events (All times in GMT) UK Mar. Industrial and Manufacturing Production (0830) EuroZone Mar. Retail Sales (0900) UK Apr. Shop Price Index (0930) Germany Mar. Factory Orders (1000) US Q1 Nonfarm Productivity and Unit Labor Costs (1230) US Fed's Kroszner to Speak about Foreclosures (1245) US Weekly Crude Oil and Product Inventories (1430)

“If you were running an oil company, what would your number one priority be? Jacking up production, right? I mean, oil prices have just shot up from $50 to $120. And you know that whatever you produce, you’ll sell.” — Andrew Gordon by Andrew Gordon Baltimore — (TFN): If you were running an oil company, what would [...]

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, sugges

“Here in China, they’re using fuel at an accelerating rate. Part of that is the increasing reliance on fuel oil, but an even bigger catalyst is simply because companies like Chery Automobile, Geely Automobile (0175: Hong Kong), and Chongqing Changan Automobile Co. Ltd., are producing inexpensive, gas-powered cars for the masses.” [...]

“The Forties Pipeline System, a major transportation network that pumps about 600,00 barrels per day (bpd) from more than 50 fields situated throughout the region, was forced to close due to a labor strike at a key Scottish refinery.” — Jason Simpkins by Jason Simpkins Baltimore – (TFN): An outpouring of political [...]

“Saudi Arabia has a problem. And it’s the same one that every oil-producing nation will face someday: Its oilwells are drying up.” — Jason Simpkins by Jason Simpkins Baltimore – (TFN): The Kingdom of Saudi Arabia is the world’s leading petroleum exporter. Officially, it has reserves of about 260 billion barrels of [...]

I've blogged before about the impact of rising oil prices on land use patterns and the popularity of suburban communities, but it's only been since gas prices in California have been approaching and exceeding $4.00 per gallon that it's become a primary issue.According a story at Breitbart.com, demand from developing countries in Asia and Eastern Europe will more than make up from any reduction in demand from the U.S., sending oil prices up to $150/barrel by 2010 and $225/barrel by 2012. Clearly, an economy long dependent on cheap oil will have to adjust drastically if gas prices also rise to $6 or $8/gallon:The price of oil is likely to hit 150 dollars (Canadian, US) a barrel by 2010 and soar to 225 dollars a barrel by 2012 as supply becomes increasingly tight, a Canadian bank said Thursd