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Thursday, September 4th 2008, 3:22am
Will crude prices fall below $90?
Oil touched as low as $107.22, more than $40 off its record high of $147.27 set on July 11.
The dollar rose to its highest level since February against the euro on speculation oil prices near a four-month low will support economic growth in the U.S., the world's largest energy consumer.
We are waiting for the oil to fall below $90 first and wish to fall below $60 for stabilising many economies.
The dollar rose to its highest level since February against the euro on speculation oil prices near a four-month low will support economic growth in the U.S., the world's largest energy consumer.
We are waiting for the oil to fall below $90 first and wish to fall below $60 for stabilising many economies.
Wednesday, September 10th 2008, 6:52pm
Who is playing now?
I had said on the 7th of September that the falling oil prices will make some organisation very unhappy. No great prophecy from me. We all know it. Now it has happened. OPEC has cut supply.
Now, please refresh me... Some months ago, was it not some guy from one of the OPEC countries who said that the oil prices were rising only because of speculation? Of course, it is due to speculation. That is half the story. Now we know that speculation kicked aside, there are other major factors.
Now, please refresh me... Some months ago, was it not some guy from one of the OPEC countries who said that the oil prices were rising only because of speculation? Of course, it is due to speculation. That is half the story. Now we know that speculation kicked aside, there are other major factors.
Tuesday, September 16th 2008, 10:53am
Tumbling Oil prices
Oil prices have slid to a 7- month low. Bloomberg reports "Crude oil for October delivery fell as much as $4.17, or 4.4 percent, to $91.54 a barrel, the lowest intraday price since Feb. 11."
The main cause for this slide seems to be the bankruptcy protection sought by the Lehman Brothers Holdings Inc, once the fourth largest investment bank in America. The fear is that the current credit crisis will affect the economy and cut the demand for oil.
Analysts say that the Oil prices may continue to fall before they are stabilised. Will OPEC make good its threat to cut the Oil output, now that the Oil prices are below $100 or will the prices plunging below $90 be the relief that the consumers are waiting for.
The main cause for this slide seems to be the bankruptcy protection sought by the Lehman Brothers Holdings Inc, once the fourth largest investment bank in America. The fear is that the current credit crisis will affect the economy and cut the demand for oil.
Analysts say that the Oil prices may continue to fall before they are stabilised. Will OPEC make good its threat to cut the Oil output, now that the Oil prices are below $100 or will the prices plunging below $90 be the relief that the consumers are waiting for.
Wednesday, September 17th 2008, 5:04pm
Yes, it did go below $90 for a while.
Source of the news : http://www.tehrantimes.com/index_View.asp?code=178069
It says : London’s Brent North Sea crude for delivery in November tumbled as low as 89.80 dollars per barrel in Asian trading.
Bad news for those companies banking on huge profits on drilling equipment, drill ships.. The oil exploration may slow down with the falling prices.
It says : London’s Brent North Sea crude for delivery in November tumbled as low as 89.80 dollars per barrel in Asian trading.
Bad news for those companies banking on huge profits on drilling equipment, drill ships.. The oil exploration may slow down with the falling prices.
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