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Two Reasons Why Oil Prices Have Been So High Lately
14 hours ago ago from YodZiaN.CoM | Finance and Loan Information
From the 1970?s until 2004 the world has seen oil prices fluctuating but remaining under the $50 per barrel price level. However during 2004 especially in the fourth quarter we saw oil prices at record levels, seriously weakening the US dollar. Since then there seems to have been an increasing amount of reasons to sustain prices at such a high level. The first main reason is due to the war in Iraq, because Iraq is a large oil-producing ...
Related contentDailyFX – Crude Oil Unwinds Early Gains as OPEC President Warns of Potential Production Increase
14 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 contentUS top trade groups already demand an end to speculation, but why Congress not act and Media not report ?
14 hours ago ago from Trade Commission
Leading energy experts across the country agree that recent, unprecedented jumps in crude oil prices are due, in large measure, to rampant speculation in the energy commodities markets.” “19 of the nation’s top trade associations, consumer groups and labor organizations, the coalition urges “immediate reform in the widely-speculative energy commodity futures markets.” ...
Related contentIraq Poised to Transform Oil Market in Next Decade
16 hours ago ago from Iraqi Dinars Blog
by Nehal el-Sherif Deutsche Presse-Agentur (dpa) 12/17/2009 URL: http://www.rigzone.com/news/article.asp?a_id=84307 Political and security issues in war-torn Iraq have been the focus of the world's attention for more than six years. Now, the country's oil reserves are doing the talking. After a string of recent deals between the Iraqi government and foreign oil majors, experts believe that Iraqi oil will transform the global ...
Related contentMIT OIL/ENERGY EXPERT: PEAK OIL IS BS
11 hours ago ago from THE ASTUTE BLOGGERS
MICHAEL LYNCH/ENERGY TRIBUNE: After the oil price collapse of 2008, the subsequent rise to $80 this year convinced many that people that oil traders were anticipating a tight oil market with the economic recovery. Meanwhile, others felt that speculators were reacting to financial factors like the weak dollar rather than market fundamentals. The former were very much encouraged by the many advocates of “peak oil” who perceived a long ...
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OPEC Is in the Catbird Seat
8 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 contentOPEC looks likely to hold output steady in Angola
6 hours ago ago from U.S. News
OPEC looks likely to hold output steady in Angola LUANDA, Angola (AP) -- OPEC hasn't touched its oil production targets for a year, and with the economy still shaky oil ministers gathering for Tuesday's meeting in this African capital are unlikely to go tinkering with them now. Saudi Arabia's oil minister underscored that sentiment just last week. Ali Naimi, who represents OPEC's most powerful member, told the London-based Arabic daily ...
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