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Jul 23, Crude Oil Six-Week Low. Where Now? 2008-07-23 02:25:31 Where is crude oil heading next?
Yesterday NYMEX light, sweet crude fell to $125.63 a barrel, a drop of over $20 from its $147 high set on 11 July.
The fall in US energy demand is partly responsible for this price drop. Relief that the hurricane in the Gulf of Mexico has not affected oil facilities may also be a factor in the price fall.
Only about 5 of US oil and gas production facilities had Read more:Crude
Jul 18, Is Spot Gold On the Defensive? 2008-07-18 05:55:42 With recent shattering announcements on Freddie Mac and Fannie Mae, is gold about to make a new surge or is it on the defensive?
Investors are nervous as they see the Dow heading south and financial institutions collapsing and needing a bailout from the Fed.
As the US dollar sinks further and the prospect of stagflation rears its head, what is happening to gold?
Here is an interesting video cli Read more:Defensive
Jul 10, Oil Demand Up 50 By 2030 Says Opec 2008-07-10 18:32:39 According to the OPEC 2008 World Outlook, global oil demand will increase by 50 by 2030.
The main driver of this growth will be transport, as car ownership surges in the emerging economies such as China and India.
There has been much criticism of speculative commodity trading activity in oil futures, seen as the main cause, along with a weak dollar, of the spike in oil prices.
Abdullah al-Badr
Jul 8, Zoellick Calls For Biofuels Reform 2008-07-08 05:03:13 Robert Zoellick, President of the World Bank, has called for governments to reform their biofuels policy, amid growing concerns about their impact on surging world food.
Speaking at the G8 summit in Japan, Mr Zoellick said the World Food Programme (WFP) needed about $5-$6 billion in 2008 to address the growing food problem.
He has called on the G8 to consider extra funding for the WFP.
He disti Read more:Biofuels
, Reform
Jul 3, IEA Warning On Oil Supplies 2008-07-03 09:49:30 According to the Paris based International Energy Agency (IEA), crude oil supplies will remain under tight pressure over the next five years.
The energy agency sees a continuation of robust demand along with a flattening out of non-Opec production.
Current crude oil prices, considered by many observers to be caused by excessive speculation, are in fact justified by the fundamentals says the IEA
Jul 2, OPEC Head Predicts Higher Oil Prices 2008-07-02 18:36:41 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 Read more:Prices
, Higher
, Oil Prices
Jun 27, Crude Oil Surges To Record 2008-06-27 05:08:42 Crude oil prices have surged to a record on further short term supply concerns.
In New York NYMEX light crude has touched $141.71, while in London Brent crude surged to $141.98 per barrel.
Added to the ongoing Middle East tension between Israel and Iran is the violence in Nigeria and now the Libyan announcement that it may cut its crude oil output.
All these factors are adding uncertainty and w Read more:Crude
, Surges
, Record
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