Crude oil prices rose dramatically on Monday making the largest one day jump in history. The price went up as much as $25.45 a barrel at one point before settling at $120 a barrel by the end of the day.
Prices swung lower Tuesday, falling below $107 a barrel. It was crude’s first down session in [...]
In the US markets, stocks declined after a sharp rise in oil prices put fire into the sell off on Wall Street which started with worries about the government\’s ability to bailout the financial system. The Dow plunged 372.75 points, or 3.27%, to 11,015.69.
Shares of Indonesian coal miners and plantation companies fell sharply on Wednesday due to falling international oil prices, dragging down the entire market.Indonesia's largest coal producer, PT Bumi Resources Tbk BUMI.JK, dropped as much as 4.95 percent to 4,800 rupiah ($0.521) before recovering slightly to 4,900 rupiah.State owned coal miner PT Tambang Batubara Bukit Asam PTBA.JK sank 10.5 perce
Oil plunged almost $3 a barrel on Tuesday to its lowest since mid-April, extending the previous day's rout on initial signs that a weakened Hurricane Gustav spared major Gulf oil facilities.Early checks by some US refiners reported no damage from Gustav, which weakened to Category 2 before roaring ashore near Port Fourchon, Louisiana, on Monday. At least two others were expected to dip into the US
Economists are notorious for making inaccurate predictions. Many failed to predict the boom and bust in tech stocks and later the housing market. A matter of debate at the moment, is the extent to which rising oil prices are due to speculation and the extent to which they are due to supply and demand?A recent report from the Energy Information Agency, suggests that supply and demand factors are mo
Oil price rise dissertation writing deals with the reason for the increase in the price. The world crude price has risen by 100 percent in the last one year. What, how ever is causing the world crude price to rise?
Three distinct arguments have been preferred by oil pundits to explain the crude [...]
Oil has risen more than 50 per cent in 2008. This is cause by speculative activities that investors seek to hedge against the falling dollar and inflation.
Partly, US crude oil stocks down two millions barrels to 299.8 million barrels. This is the first time the stocks is below 300 million barrels since Jan 2008.
As for [...]
As the cost of shipping continues to soar along with fuel prices, homegrown manufacturing jobs are making a comeback after decades of decline. . . . The rise in transportation costs are fueling what some economists are calling "reverse globalization." ...a company that makes heaters is moving all its production back to Kentucky (from China)...
Did you notice or feel that traffic has been smooth right after the announcement of the new oil price? Well, I do feel that less cars on the road and haven’t been experience much traffic jam. Seems like people started to car pool or take public transportation to work to help reduce expenses. This might be the only good news after the increase of oil price. When fuel becomes expensive, people wil
The wind energy industry is growing rapidly on the back of technological advancements, political will and government subsidies. Utility companies, independent power providers, institutional investors and oil companies are all seeking to capitalize on lucrative support mechanisms to unlock greater commercial and competitive advantages, meet their renewables targets and boost their green credentials
Oil prices swooned after China’s National Development and Reform Commission said it will hike the price of gasoline, diesel, aviation fuel and electricity.
The Chinese government lifted fuel prices by 11% in November but had kept them frozen at that level, part of an effort to avoid boosting [...]
CNG a cheaper cooking option?SUNDAY's article, 'He owns 3 cars, all fitted with CNG kits', reported that compressed natural gas (CNG) is priced at $1.38 per kg.At this price, 12.7kg of CNG works out to $17.53.Why then do I have to pay $36 for a 12.7kg tank of Esso gas for cooking?This is a difference of about 105per cent.Would the CNG stations consider setting up equipment to refill cooking-gas cy
Oil prices are raising still, soon it will reach the $150 pick.
I found the idea to create a new website based on the Ning platform called: “Tunisie Co-Voiturage”.
Co-Voiturage is a...
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Recently, Malaysians were shocked by the Prime Minister when he announced that the petrol price will hike from an initial of RM1.91 to RM2.70 per liter. This equals to around 40%. Diesel on the other hand, rose from RM1.58 to RM2.58. That’s a jump of RM1.00!
To help Malaysians combat their burden resulting from the [...]
Oil Price Superspike Coming Soon - Goldman Exec
Last Update: 6/9/2008 12:55:57 AM
KUALA LUMPUR (Dow Jones)–The global crude oil price “superspike” predicted
several years ago is coming sooner because of strong demand and low inventories,
a senior executive at Goldman Sachs (GS) said Monday.
“The market is going to climb higher and higher until someone (global consumers)
say
From The AgeOIL prices surging beyond $US130 a barrel may slow global economic growth, Japan's Trade Minister has warned.He called on consumer nations to use less energy."Assuring energy security is now a top priority of all countries," Akira Amari said at the opening of the energy ministers' meeting of the Group of Eight industrialised nations plus China, India and South Korea in Aomori, northern
US market crashed big time and there is no good news that had the market going up the Dow closed down by 394.64 to finally close at 12209.8 points.
What moved the market
>May unemployment rate jumps to 5.5% from 5.0%, drives concerns about consumer spending retrenchment
>Morgan Stanley says oil could hit $150 by July 4; [...]
Inflation data came out on friday which stood at 8.24% Vs 8.10% for week ended May 24. This is all before even the Oil price raise kicks in to the food prices , already im hearing that the vegetable prices have started raising so in 2 weeks time we can see the Inflation reaching 9 [...]
BBC News - 7 June 2008 Original URL Oil prices have jumped amid increasing production worries The price of oil has made a record jump to nearly $139 a barrel, amid reports it could reach $150 by July because of rising demand and political tension. Crude in New York gained more than $10 - its biggest-ever one-day rise. The spike in oil prices coincided with a dollar slump, plummet
During the last meeting before the increased of oil price was announced. Abdullah: I want the oil price to be increased by 78cents on Thursday instead of August. We are going to announce it to the public about the new price. (Supposing there is a good minister in the cabinet of BN). Minister #1: Sir, but we said before we are going to increase it gradually until August. If we increase it now, t
By Chris Baltimore
WASHINGTON (Reuters) - The phenomenal rise in oil prices show signs of a bubble, but a crash is not imminent, billionaire hedge fund manager George Soros told U.S. lawmakers on Tuesday.
“We are currently experiencing the bursting of a housing bubble and, at the same time, a rise in oil and other commodities which [...]
By Chris BaltimoreWASHINGTON (Reuters) - The phenomenal rise in oil prices show signs of a bubble, but a crash is not imminent, billionaire hedge fund manager George Soros told U.S. lawmakers on Tuesday."We are currently experiencing the bursting of a housing bubble and, at the same time, a rise in oil and other commodities which has some of the earmarks of a bubble," Soros said in prepared testim
It's difficult to turn on CNBC, read any newspaper article on oil prices, or listen to other discussions of the topic of oil prices without hearing this theory: really, it's the decline in the dollar that's responsible for the rise in oil prices. "They" advance two reasons for this: first, dollar-denominated oil traded on the NYMEX must go up equal to the amount that the dollar goes down, or it
With the ongoing hike of oil price, many people nowadays are getting infuriated by it, many of them are the ones who are already hard up on life and the effect of the ongoing rise of oil is making life a bit too harsh for them.
Lets face it, the oil in the world today is [...]
The market, which moved between positive and negative zone in early trade, surged in the second half of the trading session led by rally in information technology and cement stocks. A sharp fall in crude oil prices and firm European markets also added to positive sentiments. However, capital goods stocks witnessed selling pressure.The rally on the bourses gathered steam after the Finance Ministry
Late post today as I've just returned from vacation--I try to get new posts out early Monday mornings, but at least it's still Monday...Oil prices have certainly been in the news lately, and I've written here and elsewhere that the concept of Peak Oil has "tipped" in the mainstream media and in the markets. Many people still think that oil prices are just a bubble. Others think that the recent r
To to so much its times of oil price in Indonesia go up again. All industry in Indonesia return have to fight against market and apply market strategy. This increase bring change which is very mean for all resident in Indonesia.
This oil increase of price represent oil increase of price in Indonesia which to its [...]
George Soros thinks oil prices are starting to look like a classic bubble. His view is that current increases in the price of crude are based more on...
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The fears (or hopes) of another bubble in oil and commodity prices is gathering followersWith oil prices easily crossing $130 a barrel and with no end in sight the fears, or hopes, of an oil price and commodity price bubbles are gathering a crowd.The case for the existence of an oil price bubbles and the case against the possibility of such a bubble are both convincing and interesting to observe.F
The fears (or hopes) of another bubble in oil and commodity prices is gathering followersWith oil prices easily crossing $130 a barrel and with no end in sight the fears, or hopes, of an oil price and commodity price bubbles are gathering a crowd.The case for the existence of an oil price bubbles and the case against the possibility of such a bubble are both convincing and interesting to observe.F
Weak global markets and record high oil prices weighed on the market sentiment today. However, the market breadth was positive. Consumer durables stocks were mixed. Banking, healthcare and realty stocks declined.Crude-oil futures had marked their first close above $127 a barrel Monday 19 May 2008, with the market extending last week`s strength on growing concerns about energy supply and demand fro
WASHINGTON - RISING global oil prices could significantly dampen progress that has been made so far in calming financial markets, the International Monetary Fund's chief economist said.Mr Simon Johnson said in an interview on Friday that banks that suffered losses as a result of a United States-originated mortgage lending crisis have had greater-than-expected success in raising new money but he wo
1 oz of of gold buys the same amount of gas, bread, etc that it bought in 1950.The Bible records that fact that in ancient Babylon, 1 oz of gold bought abuot 350 loaves of bread. Tday, 1 oz of gold buys abuot 350 loaves of bread.read more | digg storyLiberty Central- Conservatism's Blog of Choice
SINGAPORE: World oil traded only a little below 122 dollars per barrel Wednesday after concerns over supply in key producer Nigeria helped push prices to record highs in frenzied trading, dealers said.New York's main oil futures contract, light sweet crude for June delivery, was 21 cents lower at 121.63 dollars in afternoon Asian trade.The contract closed on the New York Mercantile Exchange Tuesday at a record high of 121.84 dollars after leaping to 122.73 dollars, an all-time intra-day high.Brent North Sea crude for June fell 15 cents to 120.16 dollars per barrel. The contract had earlier reached a new peak of 120.99 dollars before settling at a record closing high of 120.31 on Tuesday in London.Runaway oil prices have almost doubled in the past year and have surged by more than 20 dollar
SINGAPORE: World oil traded only a little below 122 dollars per barrel Wednesday after concerns over supply in key producer Nigeria helped push prices to record highs in frenzied trading, dealers said.
New York’s main oil futures contract, light sweet crude for June delivery, was 21 cents lower at 121.63 dollars in afternoon Asian trade.
The [...]
NEW YORK - Oil prices fell more than $3 a barrel Tuesday as the market absorbed data showing demand is falling even as supplies are rising. Meanwhile, gas prices inched higher at the pump, continuing...
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Concern mounts as oil price nears US$120
Supply worries and Opec’s reluctance to raise output contribute to surge
FEELING THE SQUEEZE: Anxiety is spreading as prices at the pump in the United States and elsewhere continue to set record highs. — PHOTO: AFP
INTERNATIONAL concern mounted as world oil prices edged closer to US$120 a barrel yesterday and [...]
That is the problem. Law is correct. If you try to find oil you have to look miles down in deep water or in oil sands or shales, etc. $550,000 a day just to lease an oil rig to drill and there are only 39 of them equipped for very deep water drilling. This at [...]
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By JAD MOUAWAD
Published: March 4, 2008
Capping a relentless rise in recent years, oil prices hit a record high during the day on Monday, then pulled back to close below the record.
The day’s highest trading price, $103.95 a barrel on the New York Mercantile Exchange, broke [...]
Oil prices soared by $4 a barrel yesterday, forcing a promise from the US government to dip into its emergency reserves after a dramatic explosion in Minnesota killed two repair workers and forced...
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Oil prices soared by $4 a barrel yesterday, forcing a promise from the US government to dip into its emergency reserves after a dramatic explosion in Minnesota killed two repair workers and forced the closure of a vital pipeline from Canada that carries a fifth of American crude imports.The price of West Texas Intermediate blend for January delivery hit $95.17 a barrel, reversing two previous days of heavy falls, and will heap more pressure on OPEC ministers meeting in Abu Dhabi next week to increase the cartel's production.The fatal accident on the pipeline, operated by the energy transportation group Enbridge, disabled a link that carries crude oil from Saskatchewan to the Chicago area. Four separate conduits on the pipe were completely shut down for a while but two were reopened later.The US energy department sought to reassure the oil markets by saying it had 63.5m barrels of reserves in the midwest. "Oil from the strategic petroleum reserve is available to alleviate a severe supp
So the prices of crude oil prices are continue to rise and while we all know the next thing to follow would be higher oil and gas prices, there are some private companies who are taking advantage of the situation. Not to say that they do not have the right to raise their oil meters, it is just that some are becoming too advanced that has led some economists in the world to conclude that it is becoming and economic sabotage to any region today.
Indeed, it can be deemed as an economic sabotage in the sense that people are pretty much speechless on how to cope up with the continuous rise in oil prices. Some have been monitoring the biofuel development progress while some have resorted to other means of transportation to save on cost.
However, while these are all considered the best alternatives, it should not be a cause for most oil companies to abuse the situation. We all need money but resorting towards oil price hikes at astronomical levels without reason is simply too much.
Read mo
Oil is now being projected to hit $100/barrel in the coming weeks due to impending threat of Turkey invading northen Iraq, storms hitting Mexican gulf, OPEC not increasing supply, etc.
Behind all of...
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The Energy Information Adminstration branch of the US government released its forecast for the rest...
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SINGAPORE, Nov 1 (Reuters) - Shares of Singapore Petroleum Co (SPC) (SPCS.SI: Quote, Profile , Research) jumped as much as 6.1 percent to S$8.70 with 2.1 million shares traded as improved oil...
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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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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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OPEC has warned western countries that their efforts to develop biofuels as an alternative energy source to combat climate change risked driving the price of oil "through the roof". Abdalla El-Badri, secretary-general of the Organisation of the Petroleum Exporting Countries, said the OPEC was considering cutting its investment in new oil production in response to moves by the developed world to use more biofuels. The warning from OPEC, which controls about 40 per cent of global oil production, comes as the group of eight leading industrialised nations meets today with climate change at the top of its agenda. The US and Europe want to use biofuels to combat global warming and to strengthen energy security. OPEC has previously expressed scepticism about alternative energy but Mr El-Badri's comments mark the first clear threat that the OPEC might act to safeguard its interests in the face of a shift towards biofuels. "They are really concerned," said Julian Lee of the Centre for Glo
OPEC has warned western countries that their efforts to develop biofuels as an alternative energy source to combat climate change risked driving the price of oil "through the roof". Abdalla El-Badri, secretary-general of the Organisation of the Petroleum Exporting Countries, said the OPEC was considering cutting its investment in new oil production in response to moves by the developed world to use more biofuels. The warning from OPEC, which controls about 40 per cent of global oil production, comes as the group of eight leading industrialised nations meets today with climate change at the top of its agenda. The US and Europe want to use biofuels to combat global warming and to strengthen energy security. OPEC has previously expressed scepticism about alternative energy but Mr El-Badri's comments mark the first clear threat that the OPEC might act to safeguard its interests in the face of a shift towards biofuels. "They are really concerned," said Julian Lee of the Centre for Glo
Ethanol still has the backing of politicians, but the industry faces dropping oil prices and rising corn prices, both barometers of revenue for makers of the biofuel. Pacific Ethanol's CEO acknowledged overexcitement about the fuel and says the industry is facing "a bit of overcorrection," as Wall Street tries to determine how to value the ethanol... Forbes
Under all-round attack for hiking the petroleum prices, Prime Minister Manmohan Singh on Wedensday (June 4) justified the government's stance to increase fuel prices and said that though unpopular, it is "inevitable" to ensure uninterrupted fuel supply. He further said that the International Oil price hike has resulted in huge ...
What is it with Friday? Every time I think I've crossed the finish line, the bad news arrives like an uninvited guest. Of course, it's not all about me. It's about an entire industry facing cataclysmic change. Bloomberg reports: "Oil rose $11.33 to an all-time high $139.12 a barrel during trading. Crude oil surged more than $10 a barrel to a record as the dollar weakened after the
