Oil takes more than a dollar in New York

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recyclinage
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Oil takes more than a dollar in New York




by recyclinage » 26/12/09, 08:14

Oil takes more than a dollar in New York

NEW YORK - Oil prices took more than a dollar in New York on Thursday, the last session of the week, after having already risen by two dollars the previous day, boosted by the drop in US oil reserves last week.

On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for February delivery ended $ 78,05, up $ 1,38 from Wednesday.

In London, on the InterContinentalExchange, a barrel of Brent North Sea crude with the same maturity rose by 86 cents to 76,31 dollars.

On Christmas Eve, a celebration for which the oil market will be closed, "the volume of trade remained ridiculously low," observed Ellis Eckland, independent analyst.

For him, prices remained supported by the announcement Wednesday of a drop in a surprising extent of oil reserves last week in the United States, the first country consuming black gold in the world.

It reached 4,9 million barrels for crude oil, almost five times more than expected, and 3,1 million for distilled products (including diesel and heating oil), twice as much as expected.

In addition, gasoline inventories fell unexpectedly, by 900.000 barrels.

The barrel had already jumped more than two dollars Wednesday in reaction to these figures.

"The total drop (in reserves) is 14,4 million barrels, in addition to a decline of 12 million the previous week," said Ellis Eckland. "This represents a drop of 2 million barrels a day, just in the United States. It is very significant."

"The weather has cooled (in the United States), so there could be a further decrease in stocks next week. We are starting to have a situation where the relationship between supply and demand could be tightening rapidly." , he added.

US oil reserves have been well above normal in recent months. This abundant supply weighs on prices.

According to the analyst, prices have also been stimulated by the progress of Wall Street, whose indices have ended at the highest since autumn 2008. The stock market is often considered by operators of the oil market as a barometer of the economic outlook.

"We are approaching the end of the year with relatively strong oil prices," noted Mike Fitzpatrick of MF Global.

"The prices remain stuck in a range" between 70 and 80 dollars, observed for his part Andy Lipow, of Lipow Oil Associates. "They can stay there for a long time to come: on the one hand we have growth in Asia which pushes up prices, and on the other, we have more and more oil coming from OPEC members."

The Organization of Petroleum Exporting Countries decided this week to leave its production quotas unchanged, but "real production will continue to increase given the rise in prices: OPEC members need these revenues," he said. 'analyst.


http://www.romandie.com/infos/news2/091 ... r77stx.asp
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by Obamot » 26/12/09, 10:33

Hi, happy holidays to you too.

It's normal, the Ricans are drying up the market with a low dollar, so the OPEC trend is bullish ... but that risks lowering the US dollars again, right? It was just my two-ball nanalyze ...
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by Former Oceano » 26/12/09, 12:46

The bacon back allowed double fat to get fat on the backs of others.
Now they are on a diet and are doing less splurge. I would even say that they are in 'mad off' mode : Mrgreen:
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by Obamot » 26/12/09, 14:49

Excellent! Another word game was also "made off" (literally: run away) ... Seems that in prison he would be at his worst and would have been beaten up…>, according to the press, he entered the hospital. But I find that journalists had better take an interest in the victims (some of whom have committed suicide).
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by Former Oceano » 26/12/09, 17:09

It is likely that some people who have invested in his company will invest in other partnerships that will make money for Madoff.
When you have a loved one who has committed suicide and the person in charge is locked up with lifers, they can accept money to do certain actions or abuses ...
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by gegyx » 26/12/09, 18:34

And his relatives with the remaining cash, can also make him die, for a time (voodoo rite) and have him resurrected in a week ...
There would have been an identical case, there are 2 millennia at this time of the year…

The prison administration must not have him cremated in the meantime ...
: Cheesy:
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by Obamot » 26/12/09, 18:40

Why, JC would have been a crook? (( : Cheesy: : Shock: : Mrgreen: )

former oceanic wrote:It is likely that some people who have invested in his company will invest in other partnerships that will make money for Madoff.
When you have a loved one who has committed suicide and the person in charge is locked up with lifers, they can accept money to do certain actions or abuses ...

Until the justice system takes care of the victims as it should (and I repeat that it does not do it, or not enough, or not well enough) it may be the law of retaliation. : Evil:
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by recyclinage » 31/12/09, 13:02

gegyx wrote:The prison administration must not have him cremated in the meantime ...
: Cheesy:


you were born dust and you will return dust

amen
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