Christian Science Monitor
April 7, 2012
Twenty-five cents a gallon — that’s about how much some international energy experts say the tough U.S. sanctions on Iran’s oil industry are costing Americans at the pump.
As U.S. consumers cope with gas prices that are approaching an average of $4 a gallon, some international trade experts say the cost of the sanctions the U.S. imposes — as in the case of the Iran measures — [...]
* Strong correlation with high oil price
* Corn, soybeans gain on physical markets in March -FAO data
* U.S. soybean futures jump in March on tight supply concerns
By Svetlana Kovalyova
MILAN, April 5 (Reuters) – World food prices are likely to rise for a third successive month in March, and could gain further beyond that, with expensive oil and chronically low stocks of some key grains putting food inflation firmly back on the economic [...]
by Daniel Graeber of Oilprice.com
Global Market Needs Canada’s Crude
Canada’s natural resources minister told delegates at the International Energy Forum in Kuwait that his country was on the cusp of becoming an “energy superpower.” Canada ranks No. 6 in terms of global oil production, but much of its crude exists in the form of oil sands. European leaders are considering a measure that would classify oil sands as an environmental issue, prompting [...]
The world’s top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by theJoint Organizations Data Initiative (JODI), an official source of oil production, consumption and export data.
The OPEC heavyweight saw production decline by 237,000 barrels per day (bpd) from three-decade highs of 10.047 million bpd in November, the JODI data showed on Sunday.
The draw-down was sharper for the [...]