Posted on 14 July 2008 by admin
Ismael Hossein-zadeh / Alternet | Monday, July 14, 2008
The popular perception of the recently skyrocketing oil price is that there is an oil shortage in global energy markets. The perceived shortage is generally blamed on the Organization of Petroleum Exporting countries (OPEC) for “insufficient” production, or on countries like China and India for their increased demand for energy, or on both.
Popularity: 4% [?]
Posted on 12 July 2008 by admin
Jan Harvey / Reuters | July 11, 2008
Gold climbed to a three-month high in Europe on Friday, supported by firmer oil, while platinum extended gains made in Asia to rise 2 percent.
Spot gold was at $949.00/950.00 an ounce at 5:23 a.m. EDT, up from $944.10/945.30 late in New York on Thursday. Earlier it touched a session high of $949.10, its strongest since April 17.
Popularity: 3% [?]
Posted on 11 July 2008 by admin
Steve Watson / Infowars.net | Thursday, July 10, 2008
The head of Organization of Petroleum Exporting Countries has warned that the world faces unlimited oil and gas prices should an attack on Iran take place.
Abdalla Salem El-Badri, the OPEC secretary general, told reporters that because Iran is the second-largest producing country in OPEC, providing four million barrels of oil a day, the output would be impossible to replace.
Popularity: 1% [?]
Posted on 09 July 2008 by admin
Grant Smith and Nesa Subrahmaniyan / Bloomberg | Wednesday, July 9, 2008
Crude oil rose, rebounding from its biggest decline in three months, after Iran test-fired a long- range missile capable of reaching Israel and the dollar fell.
Oil recovered as the Iranian exercise, reported on state television, heightened concerns of an attack by Israel on the Middle East’s second-biggest oil producer. The dollar dropped against the yen and euro after the missile test, making commodities priced in the U.S. currency cheaper.
Continue Reading
Popularity: 1% [?]
Copyright © CyberCrier.com.Original News Theme by 
.
