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Oil price: where next? - and thoughts for 2010
22 hours ago ago from Commodities Options | Commodities Futures | Commodities Prices
In February this year, global oil production / demand hit an interim low of 84.0 million barrels per day (mmbpd) and the average price of West Texas Intermediate (WTI) that month was $39.16 / bbl. Since then, demand has recovered to 85.9 mmbpd in November and the average price was $78.08 / bbl. A rise in demand of 2.3% has led to an oil price rise of 99.4%. read more
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10 hours ago ago from Incoming
Apocalypse Now delayed... From time to time I check at The Oil Drum to see what thoughtful, but definitely pessimistic minds have to say about changes in our energy supplies and consumption patterns might mean in the future . TOD has, of course, been as caught off-guard by the decline in oil use/price - ostensibly due to the recession - as oil producers. And they are seriously starting to wonder when the demand will pick up. The ...
Related contentDailyFX – Crude Oil Unwinds Early Gains as OPEC President Warns of Potential Production Increase
8 hours ago ago from Asx200's Blog - CFD.net.au
( CFD.net.au Contract for Difference, Share, Forex, ETFs, Commodities Traders ) Commodities Energy Crude Oil Unwinds Early Gains as OPEC President Warns of Potential Production Increase Crude Oil (WTI) - $80.05 // -$0.45 // -0.56% Crude is attempting once again to reverse its most consistent and aggressive bull trends since early June. Volatility ility was stoked through the morning with a hearty round of ...
Related contentPalm futures to extend uptrend
9 hours ago ago from All About Work & Financial
Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives are likely to be steadier next week, extending last week's uptrend, dealers said. "Currently, demand for the local CPO is a bit slow, but the positive fundamentals of the commodity will help push prices higher," he said. He also said the price has fallen on correction and is now pointing at a further upside. "If the same situation persists, prices can settle at above the ...
Related contentHow to Keep Your Home Heating Oil Prices Under Control
22 hours ago ago from Massage Oils Massage Oils
Knowing just how much you're going to spend on heating oil for the coming winter is your guess just as much as the suppliers. Supply and demand becoming less important as to the fluctuation in the market which these days is based more on stock market speculation. Keeping your budget under control seems to be a no win situation and can play havoc on your finances. After the worst financial crisis in 60 years, the concern about home ...
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OPEC Is in the Catbird Seat
2 hours ago ago from BloggingStocks
Let's just say OPEC is in an enviable position. Come to think of it -- when hasn't OPEC been in an enviable position? OPEC heads into its December meeting next week "in the catbird seat," to cite an old phrase popularized by the late, great Red Barber . OPEC does not have to cut production to keep prices high -- they're already high: oil closed Friday up 40 cents to $73.05 per barrel. The roughly doubling of oil's price in 2009 is the main ...
Related contentHale "Bonddad" Stewart: 2009 Economic Year in Review: How Did We Get Here?
22 hours ago ago from Huffington Post
Because we are approaching the end of the year, it is appropriate to take a look back at the economy for the last year to see how we're doing. This will be a two part series. The first is, "How Did We Get Here?" It will be a retrospective of the economic numbers for the collapse. The second part will be a "Where We Are Now" piece which will show, well, where the economy is now relative to where we were about a year ago. So, let's get started. ...
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