Archive for the ‘Oil’ tag
Why are commodity prices rising?
I thought we were in a crisis!
Just today I read that the commodity prices are rising for instance the prices on oil, copper and nickel have gone up. This makes me wonder, because logicly the prices on especially oil ought to fall. I mean we are in the middel of a financial crisis and the last thing that ought to happen it rising oil prices.
The price on oil influences most commodity prices
We know for sure that most prices go up when the oil becomes more expensive. Stuff such as grocceries; fruit, soap, bread and meat become more expensive to carry around the wold, which makes to prices go up. read more aboute how positive new on the financial situaiton generates a bad financial situation here
U.S. oil back on the $ 50
The price of oil
The U.S. WTI oil, is after a few days in plus of $ 52 class rediscovered his rent at $ 50 each. barrel. It happens after a barrel of WTI oil trade in New York this morning was up and cost $ 53.50.
The oil and the stock market
It is, according to Bloomberg News the sour stock market sentiment, which should get the blame for oil’s rebound from the past few days around the level of $ 52.50 per. barrel. read more aboute the jumpy oilprices here
French oilgigant will not produce more oil
Will the demand on oil keep incresing?
While many expect the consumption of oil and production of the same black energy will increase, said the French oil giant Total CEO that the top is almost reached. It writes the Financial Times.
Unable to become more effective
Christophe de Margerie, Head Total, does not believe that the world will ever be able to extract more than 89 million. barrels of oil a day, a marginal increase from levels around 84 million. barrels today. The background is high production costs and political problems in oil rich countries like Iraq and Iran. read more aboute the Oil company Total here
The russian rubel is devalueating
Bad news
It is no longer a good time for russian economy and this is showing through devaluation of the russian valuta – the rubel – that these past month has falling drasticly. Russia can however take a look at the economies in the rest of the world, where the likely situations are taking place.
Down by one fifth
Today the rubel went to a new lowpoint reaching the lowest value toward the euro and dollar since the breakdown of the Sovjet Union. A euro costed today 42,55 rubels while a dollar costed 32,24 rubles. This means that the rubel has lost one fifth in value since the financial crisis started for real in august last year. read more aboute the devaluation of the rubel here
Oil prices going down…
The latest job numbers did the trick
The oilprices are now under 40 dollar as the latest numbers from the jobmarket hit the streets today at 2.30 pm. The price on a barrel of WTI-oil fell by 4,8 percent reaching 39,70 dollar a barrel. This is the lowest prices on oli for a while. And this despite the gaz crisis in Eastern Europe.
Expected unemploymentrate
The american jobmarket report from december showed that the unemploymentrate had raised to 7,2 percent, which was much higher than the expected 7,0 percent. read more aboute the falling oli prices here