by Matt Taibbi, Rolling Stone:
We’re going to get into this more at a later date, but there was some interesting late-breaking news yesterday.
According to numerous reports, the European Commission regulators yesterday raided the offices of oil companies in London, the Netherlands and Norway as part of an investigation into possible price-rigging in the oil markets. The targeted companies include BP, Shell and the Norweigan company Statoil. The Guardian explains that officials believe that oil companies colluded [...]
China’s been busy. This would be a good time to buy yuan as a hedge against the US fiat dollar.
7.000 yuan = $1372
https://www.sterlingcurrencygroup.com/buy-currencies.html
Yuan reaches record high against the US dollar
Further appreciation predicted, which would fuel inflation on the mainland and in Hong Kong
http://www.scmp.com/news/article/1213468/yuan-reaches-record-high-against-us-dollar
Petrodollar:
A petrodollar is a United States dollar earned by a country through the sale of its petroleum (oil) to another country.[1] The term was coined in 1973 by Georgetown University economics professor, Ibrahim Oweiss, who recognized the [...]
Bullish on Oil Prices? Two Reasons You Might Change Your Mind
George S. Mack of The Energy Report (4/2/13)
The downturn beginning in 2008 triggered a macroeconomic meltdown that would disrupt all markets, domestic and global. Demand for petroleum diminished just as new technologies were beginning to gush out oil and gas in never-before-seen volumes, creating a perfect storm that would depress prices. Now that oil prices have rebounded, is the worst [...]
from WSJ:
China will allow over-the-counter gold trading between banks for the first time Monday, a significant financial reform for the world’s second-largest buyer of the precious metal.
The move reflects the Chinese government’s latest effort to develop Shanghai into a major gold trading center, and mirrors similar developments in the country’s currency and oil markets.
The introduction of interbank trading is intended to develop China into a liquid and market such as [...]
from WSJ:
China will allow over-the-counter gold trading between banks for the first time Monday, a significant financial reform for the world’s second-largest buyer of the precious metal.
The move reflects the Chinese government’s latest effort to develop Shanghai into a major gold trading center, and mirrors similar developments in the country’s currency and oil markets.
The introduction of interbank trading is intended to develop China into a liquid and market such as [...]
On June the 30th 2009 oil mysteriously jumped by more than $1.50 a barrel during the night, to reach its highest price in eight months, the kind of swing that is caused by a major geopolitical event.
The amazing, true cause of this price spike has now been released by a Financial Services Authority investigation (FSA).
Although not authorised to invest company cash in trades Steve Perkins, a long standing, senior broker [...]
From OilPrice.com:
On June 30th 2009, oil mysteriously jumped by more than $1.50 a barrel during the night, to reach its highest price in eight months, the kind of swing that is caused by a major geopolitical event.
The amazing, true cause of this price spike has now been released by a Financial Services Authority (FSA) investigation.
Although not authorized to invest company cash in trades, Steve Perkins, a long standing, senior broker [...]
US oil stock release imminent, consultant says
London (Platts)–6Sep2012/346 pm EDT/1946 GMT
The US will release oil from strategic stockpiles in the coming days, UK-based consultancy Petroleum Policy Intelligence said Thursday, quoting sources which it did not name.
“Faced with persistently high oil prices that are believed to be undermining other policy measures aimed at re-invigorating economic recovery, the US will go ahead with a release of strategic oil stocks in the coming [...]
Following recent fluctuations in the global oil markets, crude prices have neared USD 109 per barrel over tensions with Iran.
New York’s main contract, West Texas Intermediate (WTI) light sweet crude for September, jumped USD 4.27 to settle on USD 91.40 a barrel.
http://www.presstv.ir/detail/2012/08/05/254541/oil-prices-soars-over-iran-tensions/
We’re the fuel tax capital of Europe: British motorists pay up to 60% duty and VAT on petrol – the highest figure in the EU
Without tax duties prices for [...]
by WashingtonsBlog
Big Oil Is Gaming the System to Keep Domestic U.S. Prices High
Leah McGrath Goodman – who has written for the Financial Times, Barron’s, The Wall Street Journal, Forbes and Fortune – notes that the U.S. is now an exporter of refined petroleum products, but that Americans aren’t getting reduced prices because the oil companies are now pricing the fuel according to European metrics:
The U.S. is now selling more petroleum products than it is [...]
By Washington’s Blog
Leah McGrath Goodman – who has written for the Financial Times, Barron’s, The Wall Street Journal, Forbes and Fortune – notes that the U.S. is now an oil exporter, but that Americans aren’t getting reduced oil prices because the oil companies are now pricing the oil according to European metrics:
“The U.S. is now selling more petroleum products than it is buying for the first time in more than six decades. [...]
If there is $200 in the economy and company A builds a better mouse trap, lowering its price from $15 to $10 and increasing sales from 2 units to 4 units the total revenue for the company increased from $30 to $40.
This is extremely important to understand and why the elite capital owners DO NOT want a gold standard.
When company A has good times not there is $10 less in [...]
by Marin Katusa, Testosterone Pit
There’s a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country’s importance in the world: the demise of the US dollar as the world’s reserve currency.
For decades the US dollar has been absolutely dominant in international trade, especially in the oil markets. This role has created immense [...]
From Bloomberg:
U.S. House Speaker John Boehner said President Barack Obama is “diminishing the presidency by picking fake fights” as he seeks re-election.
Boehner, an Ohio Republican, cited as examples the president’s recent campaign to freezeinterest rates on student loans, to set a minimum tax on income more than $1 million, and to curb manipulation in the oil markets.
“The point I’ve been trying to make here in the last couple of weeks is that the president’s [...]
Marin Katusa: There’s a major shift under way, one the US mainstream media has left largely untouched even though it will send the United Statesinto an economic maelstrom and dramatically reduce the country’s importance in the world: the demise of the US dollar as the world’s reserve currency.
For decades the US dollar has been absolutely dominant in international trade, especially in the oil markets. This role has created immense demand for US dollars, and [...]
From Marin Katusa, Chief Energy Investment Strategist, Casey Research:
There’s a major shift underway, one the U.S. mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country’s importance in the world: the demise of the U.S. dollar as the world’s reserve currency.
For decades, the U.S. dollar has been absolutely dominant in international trade, especially in the oil markets. [...]
By Marin Katusa, Chief Energy Investment Strategist
There’s a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country’s importance in the world: the demise of the US dollar as the world’s reserve currency.
For decades the US dollar has been absolutely dominant in international trade, especially in the oil markets. This [...]
WASHINGTON – Under pressure to take action on rising gasoline prices, President Obama wants Congress to strengthen federal supervision of oil markets, increase penalties for market manipulation and empower regulators to increase the amount of money energy traders are required to put behind their transactions.
The White House plan, which Obama was to unveil Tuesday, is more likely to draw sharp election-year distinctions with Republicans than have an immediate effect on [...]
Oil as a commodity has always been a highly valuable early warning indicator of economic instability. Every conceivable element of our financial system depends on the price of energy, from fabrication, to production, to shipping, to the consumer’s very ability to travel and make purchases. High energy prices derail healthy economies and completely decimate systems already on the verge of collapse. Oil affects everything.
This is why oil markets also tend [...]
WASHINGTON — Tension with Iran and “uncertainty” in the region is adding a $20 or $30 premium to oil prices, pushing up gas prices for vehicle owners in the United States, President Barack Obama said.
“The key thing that is driving higher gas prices is actually the world’s oil markets and uncertainty about what’s going on in Iran and the Middle East, and that’s adding a $20 or $30 premium to [...]
President Obama has passed the buck to others – mainly George W. Bush – for no less than 13 problems that characterize his presidency, suggesting time and again that his own policies are not to blame for his difficulties and he is simply doing the best that can be done with the cards he was dealt.
Even so, Obama is aggressively staking a claim for successes for which Bush shares significant [...]
Thetrader.se
Some notes on statistics and unemployment, and how they can show you what you want to hear. From D. Amerman. When we look at broad measures of jobs and population, then the beginning of 2012 was one of the worst months in US history, with a total of 2.3 million people losing jobs or leaving the workforce in a single month. Yet, the official unemployment rate showed a decline from [...]
From Grant Williams’ Things That Make You Go Hmmm
After the attack on ‘speculators’ failed to lower gas prices (here’s a piece of free advice by way of a simple mathematical equation for anybody in the current Administration who may be reading: ZIRP ? Low Gas Prices), it was the turn of the other staple solution to an intractable problem; the US Strategic Petroleum Reserve (SPR):
(Montreal Gazette): A group of Democratic lawmakers [...]
Gasoline prices rose again Friday and are now averaging more than $4 in six states and Washington, D.C. Oil had its biggest gain in three weeks and natural gas prices also rose.
Retail gasoline prices were up a penny on Friday to a national average of $3.831 per gallon, according to AAA, Wright Express and Oil Price Information Service.
The average price for a gallon of regular is now above $4 in [...]
http://www.nakedcapitalism.com/2012/02/chris-cook-the-oil-end-game.html
Chris Cook: The Oil End Game
By Chris Cook, former compliance and market supervision director of the International Petroleum Exchange. Cross posted from Asia Times
The end game is about to begin. On the one hand you have the noise and rhetoric. Greedy speculators gouging gasoline prices; mad mullahs preparing to wipe Israel off the map; bunker buster bombs and fleets being positioned; huge demand for oil from the BRIC countries; China’s insatiable [...]
By Michael R. Crittenden
WASHINGTON (MarketWatch) — A halt of Iran’s oil exports to Organization for Economic Cooperation and Development countries could trigger a 20%-30% spike in oil prices, an International Monetary Fund official said Thursday.
“The impact of an oil supply shock in the Middle East could be large if not compensated by a supply increase elsewhere,” said Gerry Rice, director of external relations at the IMF.
Gas [...]
From Reuters:
A U.S. aircraft carrier sailed through the Strait of Hormuz and into the Gulf without incident on Sunday, a day after Iran backed away from an earlier threat to take action if an American carrier returned to the strategic waterway.
The carrier USS Abraham Lincoln completed a “regular and routine” passage through the strait, a critical gateway for the region’s oil exports, “as previously scheduled and without incident,” said Lieutenant Rebecca Rebarich, [...]
From Reuters:
A U.S. aircraft carrier sailed through the Strait of Hormuz and into the Gulf without incident on Sunday, a day after Iran backed away from an earlier threat to take action if an American carrier returned to the strategic waterway.
The carrier USS Abraham Lincoln completed a “regular and routine” passage through the strait, a critical gateway for the region’s oil exports, “as previously scheduled and without incident,” said Lieutenant Rebecca Rebarich, [...]
From OilPrice.com:
All is not as it appears in the global oil markets, which have become entirely dysfunctional and no longer fit for its purpose, in my view. I believe that the market price is about to collapse as it did in 2008, and that this will mark the end of an era in which the market has been run by — and on behalf of — trading and financial intermediaries.
In [...]
South Korea has announced that it will buy around 10 percent of its needed crude from Iran in 2012, which will be slightly higher than last year. Meanwhile, China also defies US sanctions, stating it will resume its normal trade with Iran.
Press TV
January 4, 2011
Seoul’s demand for more Iranian oil follows the approval of a new act by the US Senate for imposing tougher sanctions on Iran’s financial and energy sectors.
Ignoring [...]
Iran insists its nuclear programme is for peaceful purposes only
(BBC NEWS) US President Barack Obama has signed into law a major defence bill including tough new sanctions against Iran.
The law cuts off from the US financial system foreign firms that do business with Iran’s central bank.
But Mr Obama stressed that he had concerns about parts of the legislation dealing with the handling of foreign terror suspects.
“The fact that I [...]
Gallup’s latest measure of US unemployment shows joblessness rising through the first part of the month, with underemployment remaining at exactly the same level as 2010. The mid-month survey provides a leading indicator for the official jobless report that will come in the next two and a half weeks, and so far it doesn’t look like it will bring much good news to the White House:
Unemployment, [...]
by ZH
Following its admission yesterday that it is now buying oil by telling clients to sell Brent to $105-107 a monther after advising anyone who cares Brent was on its way to $130, today we learn that Goldman is actively dumping its prop, pardon, there we go again, flow, FLOW, inventory of oil equities to idiots, pardon, clients. As to how dropping crude prices and [...]
http://www.aspousa.org/index.php/2011/06/review-june-13-2011/ Oil and the Global Economy Last week the oil markets were dominated by the OPEC meeting in Vienna which failed to reach agreement on production levels; that Saudi Arabia allegedly is to raise its production to 10 million b/d; and new data showing growing weakness in the US economy. Oil prices fell early in the week touching a low of $98 [...]
A participant gestures during the meeting of the Organization of the Petroleum Exporting Countries (OPEC) at its headquarters in Vienna, Austria, Wednesday, June 8, 2011. (AP Photo/Bela Szandelszky)
George Jahn, Associated Press, On Wednesday June 8, 2011, 11:43 am EDT
VIENNA (AP) — OPEC unexpectedly left its production levels unchanged on Wednesday, causing oil prices to jump, as senior officials said their meeting ended in disarray — a stunning admission for an [...]
|
It only takes a few moments to share an article, but the person on the other end that reads it might have their life changed forever
Contact Information:
Submit: articles [ at ] investmentwatchblog.com
Advertising: ads [ at ] investmentwatchblog.com
General: admin [ at ] investmentwatchblog.com
|
