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"Oil prices continue to be supported by political issues, whether they be gas or Gaza related," Rob Laughlin, broker at MF Global, said. U.S. crude for February delivery was up $1. (International Herald Tribune -- Technology)
Young Farmers & Ranchers provide inspiration and hope (20) Jan 6, 2009
These are major issues, let alone the tremendous volatility in corn, soybean and oil prices. In spite of the uncertainty, the Widbooms remain enthusiastic about agriculture. (Minnesota Farm Guide, MN)
Asia markets up; U.S. stocks lower Jan 6, 2009
Asian markets also rallied on Monday, but U.S. stocks fell, retreating after last week's big rally as investors digested President-elect Barack Obama's stimulus plan, monthly auto sales and surging oil prices. The Dow Jones industrial average lost 81 points, 0. (CNN -- International)
Arthur J. Gallagher & Co. Announces Fourth Quarter 2008 Earnings Release and Conference Call Dates Jan 6, 2009
These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expected, depending on a variety of factors such as changes in worldwide and national economic conditions, changes in premium rates and in insurance markets generally and changes in securities and fixed income markets as well as developments in the areas of tax legislation and crude oil prices. Please refer to Gallagher's filings with the Securities and... (PR Newswire)
Citgo Stops US Oil Gifts in Sign Chvez Feels Pain Jan 6, 2009
Citgo Petroleum Corp., the U.S. refiner owned by the Venezuelan government, will suspend charitable contributions of home heating oil to poor U.S. households -- a sign that falling oil prices may hamstring Venezuelan President Hugo Ch;vez, whose administration has used an oil windfall to win voters' loyalty at home and allies abroad ... Mr. Kennedy said Citgo cited falling oil prices and the world economic crisis for forcing the company "to re-evaluate all of its social programs." Neither Citgo... (Wall Street Journal)
Tech Stocks Seize Day Across Asia Jan 6, 2009
Oil prices have rallied significantly in the new year, nearing $50 a barrel. In Asian trading on the New York Mercantile Exchange, light sweet crude for February delivery lost 68 cents to $48. (Forbes)
Citgo Halts Heating Oil Donations To Poor Jan 6, 2009
Kennedy said the Venezuelan government's Texas-based oil subsidiary cited falling oil prices and the world economic crisis for forcing the company to reevaluate all of its social programs, including the heating oil program aimed at 400,000 households in 16 states. The program, started in 2005 with , a nonprofit headed by Kennedy, sent 100 gallons of free oil a year to eligible households. (CBS News)
Did I just buy an SUV? (214) Jan 6, 2009
When oil prices come back or the money continues to run out you will regret that vehicle. Unless you have clear commercial needs it is just wrong regardless of the up front cost. (Salon)
TSX up for fifth day in a row Jan 6, 2009
TORONTO Canadian stocks eked out a fifth consecutive day in positive territory on Monday as oil prices continued to rally and financials stocks climbed higher following equity-financing announcements from two of Canada's top six banks ... "Whenever geopolitical risk increases, there is almost always a big jump in oil prices," Nguyen said. (Ottawa Citizen)
Investors bolted ravaged markets in December, but opportunities ... Jan 6, 2009
The sector was slammed by oil prices which dropped from a US$150 per barrel level to less than US$40. Weaker commodities also affected small capital equities under Morningstar's focused small-to mid-cap equities, which was down 48. (CBC.ca)
Chavez's free heating oil program on hold Jan 6, 2009
Citizens Energy, the Boston-based non-profit that oversees the program, announced Monday that the free fuel is on hold as Citgo tries to recover from sinking oil prices and a wounded world economy ... Oil prices have dropped about 70 percent since record highs in July. (Anchorage Daily News)
Natural gas group to ask Legislature for funds Jan 6, 2009
Oil revenue account for about 90 percent of unrestricted state revenue, and oil prices have plunged in recent months. Harold Heinze, chief executive of ANGDA, believes time is of the essence for his spur line project. (Anchorage Daily News)
Our view: Alaska at age 50 Jan 6, 2009
At the time, oil prices had crashed, causing the state's superheated economy to collapse and 20,000 people to leave. The ineffective oil spill cleanup cost some $2 billion and helped pull Alaska out of the state's worst-ever recession. (Anchorage Daily News)
Outlook 2009: Nebraska Jan 6, 2009
Executive director of the Nebraska Corn Board, Don Hutchens, says his board will monitor the status of the ethanol industry as falling oil prices place pressure on that industry. "We're optimistic that the incoming administration will support alternative energy sources and we'll be working hard to make sure sufficient policies are in place to support ethanol production," he says. (Midwest Bulls Eye, NE)
Surging Dow hits brakes, off 82 points Jan 6, 2009
The decline came as U.S. automakers reported steep sales declines in December and oil prices rose. Among Colorado s most active stocks, Kodiak Oil (KOG) jumped 40 percent, to 49 cents. (Denver Business Journal, CO)
Europe stocks mixed amid Asia gains Jan 6, 2009
Crude oil price rose in Asia trade, with light, sweet crude for February delivery up 42 cents at $46. 76. (MSNBC -- Business)
Investors fear repeat of 2000 election turmoil Jan 6, 2009
NEW YORK (CNN/Money) - As if near-record oil prices, a sluggish job market and jitters about the economy aren't enough, investors have been worrying about something else: another prolonged dispute over who's president after Nov. 2 ... "I'd say it's a one-in-five chance we won't know at the end of November. There are thousands of lawyers who are looking at litigation in Ohio, in Florida and in Wisconsin. "It's a cliche, but it's a true cliche that markets don't like uncertainty," he added.... (Yahoo News -- Presidential Election 2000)
IRAQ: Budget cuts threaten IDP housing projects Jan 6, 2009
In November 2008 the government cut $13 billion from its draft budget in light of falling oil prices (now down to around $47 a barrel from a summer peak of $147) ... "The government shrugged off calls that it should make use of international financial aid and record oil prices to pump money into housing and infrastructure projects. Instead it offered financial aid with no long-term plans," Nadhum said. (AlertNet)
Wall Street US stocks slide Jan 6, 2009
The S&P 500 climbed to a two-month high last week after General Motors Corp. got its first cash infusion from the government, fewer Americans filed jobless claims and rising oil prices lifted energy shares. The benchmark index for US equities posted its steepest annual tumble since the Great Depression in 2008, falling 38% amid simultaneous recessions in the US, Japan and Europe. (Sydney Morning Herald -- Business)
Stocks post first gain in new year Jan 6, 2009 Dollar's winning streak ends Jan 6, 2009 Car sales slide in 2008 Jan 6, 2009 Simple Ways to Make Any Car Run More Efficiently Jan 6, 2009 Stop picking on Jimmy Carter Jan 6, 2009 * Gazprom takes hard line in gas dispute Jan 6, 2009 * Asian stocks rise on US rally, stimulus optimism Jan 6, 2009 Mexico warlock predicts US troops on border Jan 6, 2009 TOUGH TIMES FOR EL LOCO Jan 6, 2009 The Fives: Predictions for 2009 -- Aliens on the way, the caldera explodes and a Clinton in the Oval Office Jan 6, 2009 Gas prices ticking up Jan 6, 2009 Oil prices help Canadian markets recover 11 pc Jan 6, 2009 US stocks end low on earning concerns Jan 6, 2009 Gold extends losses Jan 6, 2009 Asian stocks up on hopes of recovery Jan 6, 2009 Stocks to watch: Tech Mahindra,Great Offshore,BGR Energy Jan 6, 2009 Venezuela suspends heating aid to the U.S. Jan 6, 2009 Nigeria: AC Slams Obasanjo Over Comments on Global Financial Meltdown Jan 6, 2009 Stocks turns cautious after last week's rally Jan 6, 2009 Oil tips above $48 on violence in Middle East Jan 6, 2009 Canada's Dollar Gains Against Its U.S. Counterpart as Commodities Advance Jan 6, 2009 Canada Stocks Rise as EnCana Gains on U.S. Stimulus Plan; Barrick Declines Jan 6, 2009 Enrollment plummets, while oil prices soar Jan 6, 2009 Gold slips 2 per cent Jan 6, 2009 Raw materials prices have record drop Jan 6, 2009 Dire European data shows severe recession Jan 6, 2009 Auto makers look to Mexico Jan 6, 2009 Relief at pump may come at high price Jan 6, 2009 Petrominerales Resumes Operations at Orito and Las Aguilas Jan 6, 2009 Venezeula suspends heating oil aid Jan 6, 2009 U.S. stock markets slip as automakers report sales Jan 6, 2009 Euro-zone inflation rate slid in December Jan 6, 2009 Lowest gas in Texas no longer in Alpine Jan 6, 2009 Iran wants to show regional power over Gaza crisis Jan 6, 2009 Gas prices reverse direction Jan 6, 2009 Drop in Inflation Lifts Europe Stocks Jan 6, 2009 Business Highlights Jan 6, 2009 World stocks rally on some rare corporate cheer Jan 6, 2009 Mexican warlock predicts US troops on border Jan 6, 2009 Venezuela's Chvez shuts off free oil program for US poor Jan 6, 2009 Crude oil up 5% Jan 6, 2009 Wall Street falls on weak telecoms, banks Jan 6, 2009 Travellers snap up cheap airfares Jan 6, 2009 Chile inflation slows as prices plunge in December Jan 6, 2009 Current Account Deficit Narrows Amid Declines in Price of Oil Jan 6, 2009 Opportunities in the Middle East Jan 6, 2009 Top Glove Q1 net profit up 16% at RM34.2m Jan 6, 2009 CPO price goes past RM1,800 Jan 6, 2009 Plantation stocks help push KLCI up 26 points Jan 6, 2009 The motorcycle option to easing congestion Jan 6, 2009 Adjusting to recession demands Jan 6, 2009 Oil gains as Opec plans meet Jan 6, 2009 Steel yourselves for car price increases, warns Nissan chief Jan 6, 2009 Chavez Pulls Plug on Joe Kennedy Oil Welfare Jan 6, 2009 GAS UP: An increase means you\'ll pay a bit more to fill your tank. Jan 5, 2009 History suggests oil prices will rally Jan 5, 2009 Office vacancies loom as problem Jan 5, 2009 Protect Your Home From Rising Energy Costs Jan 5, 2009 Oil price rises on Gaza conflict Jan 5, 2009 Privatization plan to bolster state revenues Jan 5, 2009 Falling oil prices 'benefit UK' Jan 5, 2009 Cancer-preventive compounds in broccoli discovered Jan 5, 2009 Price fixing run amok Jan 5, 2009 U.S. and Germany weigh tax moves Jan 5, 2009 Gas Tax Hike Jan 5, 2009
"The market closed off its highs, but I think we had the day today we thought we might have had yesterday,'' said head of private wealth management at Wilson HTM Investment, Derek Growns, noting that banks recovered from yesterday's losses while mining stocks generally held up. Resource stocks benefited in part from a rise in the oil price, which has been driven higher by the Israel-Palestine conflict. "The oil price rallied, but whether it's short lived or not depends on what happens in the... (Sydney Morning Herald -- Business)
Cheap airfares bolster demand Jan 6, 2009
It also reflected a sudden fall in oil prices from record highs in July and subsequent reductions in fuel surcharges on tickets. The managing director of Webjet, David Clarke, said bookings had continued to be strong in the first days of January, which he partly attributed to an advertising campaign. (Sydney Morning Herald -- Business)
The dollar opened firmer, as a higher oil price helped the currency defy market expectations of a decline during overnight European and US sessions. It poked its head above $US0. (Sydney Morning Herald -- Business)
Also affecting demand over large parts of the year was the high oil price. In July the oil price peaked at $US147 a barrel, before retreating to the $US40 range in recent weeks ... The future of the US automobile industry has been thrown into doubt after the run-up in oil prices made the cars produced by the Big Three automakers - GM, Ford and Chrysler - less desirable to consumers. (Sydney Morning Herald -- Business)
Published: Tuesday, December 9, 2008 12:00 AM CST (ARA) - Oil prices may have declined from this summer's record-breaking highs for now, but automotive fuel efficiency is still on the minds of families across America. As the holiday season approaches, the nation's highways and roads will become increasingly busy and our dollar will be stretched even further. (Atlantic News-Telegraph, IO)
Carter was maligned for events and forces over which a president has little control: inflation fueled by soaring oil prices stoked by the Arabs and OPEC.. Obama take note: American politics is as much about bigotries as it is about issues. (Yahoo News)
PIPELINE: European countries now pay about US$500 per 1,000 cubic meters, but the price is expected to decline as the gas market begins to reflect the fall in oil prices AP, MOSCOW Tuesday, Jan 06, 2009, Page 6 ... European countries now pay about US$500 per 1,000 cubic meters, including transit costs, but the price is expected to decline significantly as the gas market begins to reflect the fall in world oil prices. (Taipei Times, Taiwan -- World Business)
Crude oil price rose in Asia trade, with light, sweet crude for February delivery up US$0. 86 at US$47. (Taipei Times, Taiwan -- World Business)
Vazquez erroneously predicted last year that oil prices would be stable and that Cuba's Fidel Castro and singer Britney Spears would die. This year, he says Spears will continue to triumph. (Atlanta Journal-Constitution)
That's what former congressman and Kennedy scion Joseph Kennedy II is hoping - though plummeting oil prices may ground St. Hugo's sleigh this year ... Or, at least, Kennedy was a tool: Citizens Energy announced yesterday that falling oil prices have forced Citgo to suspend the program - prompting Kennedy to urge fuel recipients to write to Chavez to tell him what a "difference" he's made ... When oil prices were high, he poured money into buying friends overseas - propping up Castro's 00004000... (New York Post -- Opinions)
Among the predictions that missed by the widest of margins are President Bush's assertion in July that "I'm not an economist, but I do believe we're growing" and oil magnate T.Boone Pickens prediction in June that "I think you'll see (oil prices at) 150 a barrel by the end of the year." At the time, oil was at 135 a barrel. By New Year's Day, it was in the 40 a barrel range. (Rapid City Journal, SD)
The war in the Gaza Strip and s decision to cut oil production have pushed cruise oil prices up nearly $9 a barrel higher closing Friday on the at $46. 34 a barrel. (Tampa Bay Business Journal, FL)
TORONTO: Higher oil prices helped the Canadian market maintain its upward trend from the New Year's first day, with energy and metal sectors posting further gains on the Toronto stock exchange (TSX). The Canadian dollar also made major gains against the US dollar, edging 1. (India Times)
Oil prices rallied above $49 a barrel before settling at $48. 81 a barrel on the New York Mercantile Exchange on the Middle East tension and speculation of an OPEC emergency meeting. (India Times)
SINGAPORE: Gold extended losses on Tuesday, slipping more than 1 per cent following Monday's drop of nearly 2 per cent, faltering as the dollar reversed recent losses. Bullion's near-term direction remained pinned to the dollar, which rose 0. (India Times)
Oil prices were steady after settling more than 5 percent higher the previous day as the Israeli-Palestinian conflict and a dispute between Russia and Ukraine over natural gas helped lift prices. Israel's violent campaign to stop its towns from being showered with rockets showed no signs of ending though, as the country's troops backed by air strikes fought to seize ground from Hamas militants deep inside the Gaza Strip. (India Times)
Crude oil prices fell in Asian trade Tuesday after Israel's invasion in Gaza strip of Palestine. New York's main contract, light sweet crude for February delivery, was down to $48. (India Times)
But with oil prices falling to less than $50 a barrel from a high of $147 a barrel in July, Venezuela faces a far different economic climate than it forecast six months ago ... The drop in oil prices has exposed a reliance on oil to finance imports of food, cars and other goods, with nationalizations and abrupt policy changes creating a dearth of investment in sectors other than oil ... While campaigning on Monday, he proposed lifting term limits for other elected officials while insisting... (International Herald Tribune)
"But what did the man do? Nothing! He failed woefully due to a combination of crass incompetence, not minding the grandstanding that characterised his years in power, sheer visionlessness and dissipation of energy on vindictiveness and frivolities. "Now, the combination of falling crude oil prices and another incompetent, clueless leadership are sure to test the will of Nigerians as they struggle to wade through the murky waters of the global economic mess in 2009. There is no need for anyone,... (allAfrica.com)
Crude oil prices rose 36 cents to $46. 70 a barrel on the New York Mercantile Exchange. (AZCentral -- Business)
Oil prices rose above $48 a barrel on Monday amid mounting violence in the Middle East as the fighting between Israel and Hamas escalated. Nymex February West Texas Intermediate rose $1 to $47. (FT.com -- Markets)
Helping support the Canadian-dollar move, oil prices were heading higher, said , a senior currency strategist in Toronto at RBC Capital Markets, a unit of Canadas biggest bank by assets. This suggests a generally improved attitude toward risk, although it is far from clear this is a trend. (Bloomberg -- Canada)
EnCana Corp. led a rally in energy stocks as oil prices rose in New York ... Oil prices climbed 5. (Bloomberg -- Canada)
The Dunn County News Online - Our Front Page. Updated Jan 04, 2009 - 07:07:07 am CST. (Menomonie Dunn County News, WI)
Firmer oil prices, which are holding just below $50 a barrel as supply fears were fuelled by Israel's incursion into Gaza and a dispute between Russia and Ukraine over natural gas, also lent some support to gold. Among other precious metals, platinum and palladium were little changed despite the spate of poor sales numbers from U.S. and other carmakers. (Globe and Mail -- Business)
OTTAWA As oil prices plummeted in November, the prices manufactures got for products leaving the factory gate dropped by a record amount, as did the cost of raw materials. According to Statistics Canada, the November industrial product price index fell 2. (Globe and Mail -- Business)
On the energy front, Russian gas supplies via Ukraine to southeast Europe and Turkey were halted on Tuesday in a sharp worsening of a pricing dispute between Moscow and Kiev, helping to push U.S. oil prices up 80 cents to near $50 (U.S.) a barrel. Prices in the British gas market also climbed more than 10 per cent.. (Globe and Mail -- Business)
Is the recent jump in oil prices directly related to the conflict in the Middle East. It is impossible to pinpoint exactly what causes changes in oil prices, although the explosion of hostilities is certainly a factor in the jump in prices in recent days ... But with oil prices dropping sharply, and commodity prices falling as well, the threat of inflation is taking a back seat to worries about credit and the functioning of the economy. (Globe and Mail -- Business)
This oil price, for towns such as Sidney and others through unconventional shale plays in North America, is a double-sided coin ... The oil price has dropped 68 percent from its high only months ago in July, a drop of 100 in only five months ... With high oil prices and good producing wells, production was extremely profitable. (Williston Daily Herald, ND)
Such factors include, but are not limited to: general economic, market and business conditions; fluctuations in oil prices; the results of exploration and development drilling, recompletions and related activities; timing and rig availability, outcome of exploration contract negotiations; fluctuation in foreign currency exchange rates; the uncertainty of reserve estimates; changes in environmental and other regulations; risks associated with oil and gas operations; and other factors, many of... (CCNMatthews Press Releases)
BOSTON - Citgo, the Venezuelan government's Texas-based oil subsidiary, has suspended shipments of heating oil for poor families in the United States, citing falling oil prices and the world economic crisis, the nonprofit organization that distributes the fuel said Monday ... BOSTON - Citgo, the Venezuelan government's Texas-based oil subsidiary, has suspended shipments of heating oil for poor families in the United States, citing falling oil prices and the world economic crisis, the nonprofit... (Juneau Empire)
Car companies released December auto sales and oil prices clawed back from five-year lows ... Energy companies defied the sell-off and posted gains on Monday as crude oil prices extended their rally, rising 2 ... Although oil prices are still down sharply from their July peak of $145 a barrel, they have risen nearly 20 percent over the last week, from $40 a barrel last Monday, as the OPEC cartel put in place production cuts of 2. (International Herald Tribune -- Business)
The estimate does not contain a monthly figure or a detailed breakdown, but economists said the fall stemmed mainly from a sharp drop in oil prices compared to the same period of 2007 ... 0 percent along with a sharply slowing economy and falling oil prices. (International Herald Tribune -- Business)
Much depends on whether oil prices stay at or near the low 40 per barrel range, or firm up closer to 50 per barrel. A strengthening in oil prices would signal that gasoline prices have definitely neared the bottom for the foreseeable future. (Alpine Avalanche, TX)
The Gaza crisis has offered a diversion for Ahmadinejad whose government is likely to have to cut spending in this presidential election year after oil prices fell from $147 a barrel in July to below $50, slashing Iran's main source of revenue. "You see how radicals and Ahmadinejad are using this to divert attention from the economic situation to prevent critics from opposing the government," said the diplomat. (The Star Online, Malaysia -- News)
Oil prices are up more than 40 percent since they bottomed out just below $33 a barrel on Dec. 19 ... Oil prices are up about 25 percent in the last week alone, in part because of the escalating conflict between Israel and Hamas in Gaza ... Rising oil prices have helped push the wholesale price of gasoline up by 40 percent since Dec. 24, leading to predictions by energy experts that retail gasoline prices will spike by as much as 25 percent in coming weeks. (Atlanta Journal-Constitution -- Business)
American stock markets opened higher on Tuesday while crude oil prices rose above $50 a barrel, their highest levels in more than a month, before falling back slightly. Oil prices plunged from their summer peaks of $145 a barrel as the economic downturn spread, but they have rebounded from their lows as motorists took advantage of lower gasoline prices. (Atlanta Journal-Constitution -- Business)
SIOUX FALLS, S.D. (AP) -- Israel's ground offensive in Gaza and a dispute between Ukraine and Russia over gas imports pushed oil prices above 48 a barrel Monday, but some analysts say there's more than just unrest in the Middle East behind the rally. Israel seized control of high-rise buildings and attacked houses, mosques and smuggling tunnels as it pressed its offensive against the Gaza Strip's Hamas rulers, while the U.S. joined a number of countries calling for a cease-fire. (Pocatello Idaho State Journal, ID)
Oil prices were slightly higher amid ongoing concerns about Israel's ground offensive in Gaza and mounting worries about gas supplies in Europe as the dispute between Ukraine and Russia escalated. Light, sweet crude for February delivery was up $1. (Muscatine Journal, IO)
Vazquez erroneously predicted last year that oil prices would be stable and that Cuba's Fidel Castro and singer Britney Spears would die. This year, he says Spears will continue to triumph. (KHOU.com, TX)
A sharp drop in oil prices is forcing the country to reduce government spending ... Venezuela is halting the program at least temporarily because the sharp drop in oil prices is forcing the country to reduce government spending, the firm said in a statement from Citizens Energy Corp., a Boston-based nonprofit that's managed the program in the US.. (Christian Science Monitor -- World)
Investors are still concerned that the ongoing tension between Israel and Hamas in Gaza would disrupt oil supplies in the Middle East, a factor that has been bolstering oil prices in recent trading sessions ... Iran's state television said OPEC countries have decided to hold an extraordinary meeting on the falling oil prices in February. (Xinhuanet, China)
Energy was by far the strongest sector of the 10 in the S&P 500, partly driven by a gain of more than $US2 a barrel in oil prices to a one-month high. One analyst said recent gains in the energy sector could also be attributable to a rebalancing act for portfolio managers who saw weightings in energy and commodity stocks fall below targets. (The Australian)
It also reflected a sudden fall in oil prices from record highs in July and subsequent reductions in fuel surcharges on tickets. The managing director of Webjet, David Clarke, said bookings had continued to be strong in the first days of January, which he partly attributed to an advertising campaign. (Sydney Morning Herald)
8 percent in 2007, and oil prices and consumer spending fell in the second half of the year, the National Statistics Institute said. Consumer prices dropped 1. (International Herald Tribune -- Arts)
U.S. Current-Account Deficit Falls on Oil Prices - WSJ.com ... U.S. Current-Account Deficit Falls on Oil Prices ... WASHINGTON -- The U.S. current-account deficit hit a record in 2006, but lower oil prices and strong export growth shrank the deficit in the fourth quarter and could continue to do so this year. (Yahoo News -- U.S. Budget)
Besides an economic slowdown and slowing consumer demand, we are also seeing a steep correction in oil price from US$147 per barrel in July to the current US$50. The volatility of oil price provides little comfort to many new projects, as the real cost of building a plant is uncertain ... We believe many projects will remain viable even with oil price hovering around US$50 per barrel, as a steep correction in steel and other raw material prices recently would change the economics of a project,... (The Star Online, Malaysia -- Business)
The decline in oil price, latex price and favourable exchange rate also help in increasing the groups profit. The management is of the view that the slow down in the world economy due to the current financial crisis, has minimum impact on the group performance as glove is a necessity item in the health care sector, it said. (The Star Online, Malaysia -- Business)
Slowing economy to put a cap on crude oil price. PETALING JAYA: As crude oil price rose for the third consecutive trading day, hitting US$48 ... Bloomberg reported that crude oil price rose as much as 5% as unrest in the Middle East escalated with thousands of Israeli troops crossing into Gaza on Saturday. (The Star Online, Malaysia -- Business)
In a report yesterday, OSK said some catalysts for short-term rallies in January would include the jump in oil prices, the by-election in Kuala Terengganu, Obamas swearing-in as US President on Jan 20 as well as the Chinese New Year celebrations. It advised investors to take profit and turn defensive, as the fourth quarter results season was expected to be weak with many companies likely to implement kitchen sinking exercises. (The Star Online, Malaysia -- Business)
That went on quite fine until the collapse of the oil price from US$145 to US$36 saw the Government reduce fuel price. This has prompted more people to start driving again. (The Star Online, Malaysia -- Business)
While oil prices have declined in the short run, we don t expect them to remain low for long. Also, the new administration is planning huge spending programs that will include programs in cleantech and renewable energy. We expect continued activity in the sector, though not at the pace seen in 2008. (San Jose Business Journal, CA)
London - Oil prices rose back above $47 on Monday as the Israeli-Palestinian conflict raged on and major crude producer Iran said Opec would hold a special meeting next month ... World oil prices fell by about 54 percent in 2008 as a sharp global economic slowdown weighed on energy demand in the second half of the year. (Business Report, South Africa)
Nissan aimed to become the industry leader in electric cars, which he said would have a boom in popularity due to growing concerns about high oil prices and global warming. "Very quickly the market is going to shift to zero emissions. What you've seen for the hybrid is nothing compared to the shift to zero emissions. "Our priority is to bring an electric car as fast as possible to the market," said Ghosn. Electric cars have so far failed to break into the mainstream because of limited battery... (Business Report, South Africa)
Kennedy said Monday the Venezuelan government's Texas-based oil subsidiary cited falling oil prices and the world economic crisis for forcing the company to reevaluated all of its social programs. The oil program has provided hundreds of thousands of low-income U.S. households with fuel assistance. (Newsmax)
On Friday, crude oil prices rose 3 percent, bringing the price of a barrel of oil to 46. 34. (Jefferson City News Tribune, MO)
Local Search Site Search. THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING. (Boston Globe)
Vacancies are suddenly climbing in the Texas city, which had been shielded until recently by skyrocketing oil prices ... But vacancies are also suddenly climbing in Houston and Dallas, which had been shielded until recently by skyrocketing oil prices. (Boston Globe)
Residential oil prices during the upcoming home heating season are expected to increase 31 percent over last year and consumers this year will likely pay an average of 2,644. Natural gas customers also are expected to see significant price increases -- about 22 percent over last year with an average cost of 1,059. (Pekin Times, IL)
Oil prices have risen as the conflict has escalated ... "The Gaza conflict added to the geopolitical risk premium embodied in the oil price," said David Moore of Commonwealth Bank of Australia ... Oil prices rose following a report that an Iranian military commander had called for Islamic countries to cut oil exports to Israel's supporters. (BBC News)
The gas taxes Schwarzenegger wants to keep are a product of the higher oil prices Californians have been paying at the pump. The money is intended to improve public transportation, but the state in the past has rerouted the funds for such things as bond payments and school transportation for students. (Yahoo News -- Arnold Schwarzenegger)
Falling oil prices 'benefit UK. Falling oil prices are predicted to be a benefit to the UK economy ... The British economy and consumers are set to benefit from falling oil prices over the coming three years, according to a think tank. (BBC News -- UK)
Its bit overplayed; like Oil Prices. Falling Oil & Commodities will help Economy. (TopNews)
Tatjana wrote on Jan 1, 2009 9:10 AM:" cont'd As the hedge fund investors deserted the mortgage market, they entered the oil investment market. Witness the connection between the rise in price per barrel of crude whilst the mortgage meltdown/bubble exploded. Of course, as the oil prices increased, many speculators jumped aboard, driving the crude price higher. Signs of a bubble were evident last spring when it was noted that oil tankers were sitting low in ports and at sea 9evidence of full... (DeKalb Daily Chronicle, IL)
Oil prices rose nearly 3 percent after a reported Iranian call for an oil boycott over Israel's offensive in the Gaza Strip. They later eased, but were still firm. (International Herald Tribune -- Technology)
The one silver lining of the ailing economy is the lower gas and oil prices weve enjoyed in recent months. But rather than let consumers enjoy that respite and save a few bucks, a federal commission is arguing that now is the time to raise gasoline taxes. (Bangor Daily News)
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