http://tinyurl.com/5pqwqo Murky oil dealings to stay beyond regulators’ reachReuters?- 7 hours agoBy Jane Merriman – Analysis LONDON (Reuters) – Record oil prices have prompted calls to tighten regulation of oil futures exchanges, where politicians have … Go to the author’s original blog: Murky oil dealings to stay beyond regulators’ reach – Reuters http://oilfutures.titeblog.com/?p=1607
INTERNATIONAL. Oil prices fell again Wednesday after the US government reported gasoline supplies rose far more than expected. Light, sweet crude for September delivery, the new front-month contract, fell US$3.98 or 3.1% to settle at US$124.44 a barrel on the New York Mercantile Exchange. The August contract expired Tuesday at US$127.95. The Energy Department’s […]
Energy: Saudi monarch wants lower oil price Casablanca, 16 July (AKI) – Greedy speculators are driving world oil prices too high and these can only be stabilised if producers and consumer countries cooperate more, Saudi Arabia’s King has said. In a wide-ranging interview with Italian daily La Repubblica on Wednesday, the Saudi monarch denied his […]
UAE UAE Oil Minister-No joking! photo from www.cache.daylife.com The UAE will cut oil output by 150,000 to 200,000 barrels per day for 40 days in October and November for maintenance, reported Reuters, citing an official at state oil company Adnoc. The scheduled shutdown will reduce the country’s oil output by up to 7.5%. The UAE […]
http://www.thefrontierpost.com/News.aspx?ncat=bn&nid=356 The Frontier Post Commitment to Journalism hat tip-Rachel E. DUBAI (Agencies): The $1 trillion infrastructure spending under way in the GCC will stay on track as long as oil price does not plummet below $29 per barrel, say analysts with a global asset management company. According to analysts at Pictet Asset Management, the GCC […]
. New York’s main oil contract, light sweet crude for August delivery, slipped 41 cents to close at $US128.88 a barrel. From Tuesday through yesterday, New York crude had plunged more than $US15. In London, Brent North Sea oil for September delivery dropped 88 cents to settle at $US130.19. “Market participants have become increasingly anxious […]
OPEC Hints at Less Need for More Oil OPEC gave a downbeat outlook for world oil demand amid faltering economic growth and increased fuel conservation, signaling the group may see no need to pump any more oil through the end of the year. http://online.wsj.com/public/page/economy.html?mod=2_1577
http://www.bi-me.com/main.php?id=22515&t=1&c=34&cg=4&mset=1011 INTERNATIONAL. Crude oil tumbled more than US$6 a barrel in New York, the biggest daily drop in more than 17 years, as the market worried that the weak US economy would hurt the global demand for crude. Crude futures for August delivery fell as much as US$9.26 to $135.92 today. Oil futures reached a […]
Frank Gaffney Discusses the War with Iran and Terror Free Investments
The War With Iran Last week’s Iranian missile tests prompted another round of fevered speculation that war might erupt between Iran and the United States. Largely lost in the frenzy is an unhappy fact: The Iranian mullahocracy has been at war with this country since it came to power in 1979. The problem is that […]
Giant oilfield to raise Saudi output By Andrew Walker Business correspondent, BBC World Service, Khurais, Saudi Arabia Workers brave the heat to get the project finished in time The desert sun is beating down. The temperature is 44 degrees Celsius. And yet there are men working in the baking heat. Not all that energetically, perhaps, […]
Agence France-Presse – 11 July, 2008 www.gulfinthemedia.com/index.php?id=415724&news_type=Economy&lang=en OPEC yesterday cut its long-term estimate for world oil demand, saying consumption by 2030 would be 3.7 percent lower than previously forecast as soaring prices drive efforts to save energy. Oil prices hit record highs of just below $ 147 last week and have more than doubled […]
July 12, 2008 Will Saudi Arabia manage to raise their production to 12.5 million barrels per day? BusinessWeek has a reliable source that says the Saudis can not ramp up their production nearly as much as they claim they will. But the detailed document, obtained from a person with access to Saudi oil officials, suggests […]
By Mark Shenk http://www.bloomberg.com/apps/news?pid=20601082&sid=a44rSm5beTY8&refer=canada July 11 (Bloomberg) — Crude oil and gasoline rose to records on growing concern about violence in the Middle East and supply disruptions from Brazil to Nigeria. Oil jumped as high as $147.27 a barrel in New York after the Jerusalem Post said Israeli war planes practiced over Iraq. […]
Nigeria gasoline drivers strike over fuel prices 11 Jul 2008 13:28:05 GMT <!– 11 Jul 2008 13:28:05 GMT ## for search indexer, do not remove –> Source: Reuters By Randy Fabi http://www.alertnet.org/thenews/newsdesk/L1131014.htm ABUJA, July 11 (Reuters) – Nigeria’s gasoline tanker drivers went on an indefinite nationwide strike on Friday in protest over high […]
http://www.iht.com/bin/printfriendly.php?id=14381975 Thursday, July 10, 2008This is what “crude oil” looks like. Now we know why it is called “crude”. KUALA LUMPUR, Malaysia: Oil held close to US$136 a barrel Thursday in Asia amid lingering concerns over Iran’s nuclear conflict and reports of lower-than-expected U.S. oil stockpiles. Renewed concerns about supply disruptions out of Nigeria also […]
Commentary Sue OPEC? Congress Should Sue Itself Michael Cembalest 07.09.08, 6:00 AM ET “I have come to the conclusion that one useless man is a disgrace, two are a law firm and three are called a Congress.” So said politician and future president of the United […]
NEW YORK (CNNMoney.com) — Oil prices continued to slide Tuesday as investors focused on lower demand for fuel, less bellicose talk from the Middle East and some positive comments about the mortgage market. The price of light sweet crude for August delivery tumbled $4.61 to $136.76 a barrel on the New York Mercantile Exchange. It […]
www.chinaview.cn 2008-07-08 06:48:32 NEW YORK, July 7 (Xinhua) — Crude futures dropped sharply Monday as fears of a conflict in the Middle East eased over the weekend. Light, sweet crude for August delivery fell 3.92 U.S. dollars to settle at 141.37 dollars a barrel on the New York Mercantile […]
(MENAFN – Arab News) Gross domestic product (GDP) in the GCC was about $800 billion at the end of 2007, approximately a 5.5 percent growth rate. For Saudi Arabia, the numbers are approximately $375 billion and about 4 percent. Currently, Saudi Arabia is probably bringing in around $1 billion a day in petroleum […]
ALGIERS/TOYAKO – OPEC president Chakib Khelil warned Sunday that oil prices will continue to rise because of the falling dollar, in an interview in the Algeria-News. “The price of oil will rise again in the coming weeks. We have to follow the evolution of the dollar, because a one percent fall in the dollar means […]
Biofuels ‘will push up oil price’ http://www.bi-me.com/main.php?id=10573&t=1 INTERNATIONAL. The chief of the OPEC oil cartel has warned that investing in biofuels could push oil prices “through the roof”, the Financial Times has reported. OPEC Secretary General Abdalla El-Badri said moves to use biofuels would make his members consider cutting investment in new oil production, the FT […]
by Reuters on Wednesday, 02 July 2008 OIL UP: Oil rose more than $1 a barrel on Wednesday, within sight of Monday’s record high above $143. (Getty Images) Oil rose towards $142 a barrel on Wednesday, within sight of a record high, boosted by forecasts that global supply will lag demand and further weakness in […]
Business July 04, 2008 21:08 PM Mid-East Nations Urged To Play Key Role In Determining Oil Prices <!– –> By M. SaraswathiKUALA LUMPUR, July 4 (Bernama) — Middle East countries, which account for two-thirds of global oil output, should play a decisive role in determining the prices and not allow […]
Thursday July 3, 4:50 pm ET By Adam Schreck, AP Business Writer Oil surges to new highs above $145 a barrel; US pump prices at record near $4.10 a gallon NEW YORK (AP) — There’s no cause for celebration among American drivers this holiday weekend.Oil prices headed into the busy Fourth of July […]
and to think that Briton welcomes Shariah Law! By Mark Rice-Oxley, The Christian Science Monitor Published: July 03, 2008, 00:10 Pump nozzle in hand, Lisa Atkins keeps a close eye on the digital display rapidly adding up the pounds. Gone are the days when she’d routinely fill the gas tank to the brim. She […]
Oil Prices Hit Another All time High Posted: 30 Jun 2008 The benchmark crude oil futures price in New York topped $143 per barrel for the first time Monday on investor jitters about tightening supplies stemming from geopolitical concerns. The August futures contract for West Texas Intermediate crude oil logged $143.67 during off-hours trading […]
GCC oil revenues are unprecedented Gulf nations embark on spending spree of billions of dollars, but face growing inflation as result. KUWAIT CITY – Buoyed by record oil earnings, Gulf nations have embarked on a spending spree with hundreds of billions of dollars worth of projects but are also facing growing inflation as a […]
Foreign oil firms in Libya to sponsor football clubs Sponsorship contracts signed by 16 national, foreign companies to finance football teams in Libya. TRIPOLI – Foreign oil companies operating in Libya must sponsor first division football clubs if they want to take part in development projects, the state-run National Oil Corporation said on Wednesday.Sponsorship contracts […]
OPEC president says weak dollar, Iran crisis will drive oil prices to US $170 ALGERIA. OPEC President Chakib Khelil predicted that the price of oil will climb to US$170 a barrel before the end of the year, citing the dollar’s decline and political conflicts. In a Bloomberg telephone interview Khelil said: “Oil prices are expected […]
May 29th 2008 From The Economist print edition http://www.economist.com/finance/displaystory.cfm?story_id=11453090 Is it “peak oil” or a speculative bubble? Neither, really AFP AFTER oil hit its recent record of $135 a barrel, consumers and politicians started to lash out in every direction. Fishermen in France have been blockading ports and pouring oil on the roads in […]
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