At least 300 people have been evacuated after a cargo train derailed in Russia’s south with 17 tanks carrying oil products running off the track. At least 6 cars have caught fire.
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http://rt.com/news/oil-tanks-derail-russia-030/
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Buried in the rationale for going to war with Iraq was the idea that the United States would win itself another oil-producing ally in the Middle East. Why, then, is Iraq helping Iran shirk U.S. sanctions? According to a recent report by The New York Times, Iran has been able to use Iraq to gain access to the International banking system and U.S. dollars. The two countries have also conspired to smuggle [...] (Reuters) – Syria is preparing to complete a deal with ally Russia to secure much-needed oil products to keep its economy and military running, the head of a Syrian delegation to Russia said on Tuesday, weeks after he said an agreement had been reached. http://www.reuters.com/article/2012/08/21/us-russia-syria-oil-idUSBRE87K0U620120821 An Israeli military strike on Iran may be just weeks or at most a couple of months away,” a former Israeli intelligence chief said Friday, while stressing that he personally did not think the time was right for an Israeli attack. “It seems to me,” said Aharon Zeevi Farkash, former head of Military Intelligence in the IDF, “that [an Israeli attack] could come in the near future… that is, weeks or [...] From Bloomberg: The International Energy Agency, the adviser to U.S., Germany andJapan, isn’t planning an immediate release of emergency oil stockpiles (DOESCRUD) in response to the tension in the Middle East. “We remain prepared to respond to any significant oil supply disruption, but as no specific supply disruption is under way, we are not actively considering any action at the present time,” the Paris-based adviser said on its website today. Crude oil gained over the last three [...] * World’s largest gas-to-liquids project to start in weeks * Developed by Shell, Qatar Petroleum at a cost of $18-$19 bln * Plant to produce fuels such as diesel, kerosene, naphtha (Adds decline in Malaysian field ouput, details on renewables) By Florence Tan KUALA LUMPUR, June 7 (Reuters) – Royal Dutch Shell (RDSa.L) expects oil product output at its joint venture gas-to-liquids project in Qatar to start in weeks, bringing online the [...] * Eleven U.S. companies named in suit * Burgos gas field targeted, up to 40 pct of output robbed * More than $300 million in gas concentrate stolen By Mica Rosenberg MEXICO CITY, May 31 (Reuters) – Mexico’s state-run oil company Pemex is suing eleven U.S. companies for buying up to $300 million of fuel stolen by drug gangs and smuggled across the U.S.-Mexico border, court documents showed. Pemex’s exploration and production (PEP) [...] Click chart to track commodity prices. NEW YORK (CNNMoney) — Oil prices plunged as much as 7% Thursday as weak economic data and a strengthening dollar drove crude sharply lower. The main U.S. oil contract for June delivery were down $6, or 6%, to $103.25 a barrel midday. Brent crude, the European benchmark, fell $6.60 to $114.59 a barrel. The broad underlying fear is that the U.S. economy is [...] President Barack Obama, on a cross- country trip to sell his deficit reduction plan, said yesterday that the nation’s finances are “unsustainable.” At a campaign-style town hall meeting at the headquarters of Facebook Inc., Obama described the House Republicans’ budget plan as “fairly radical,” and said members of both political parties in Washington need to work together to start reducing the federal deficit in a “balanced way.” “We have an unsustainable situation,” [...] by ZH Another quite odd data point about the US Economy: while US wholesale inventories came at 1.1% on expectations of 0.9%, (a drop from the revised 1.3%), wholesale sales increased by 3.4% on expectations of 0.5%, (and the previous revised from 0.4% to 1.1%). A headline glance would indicate a trend of improvement, as the Inventory/Sales ratio dropped to an all time low 1.13. Yet [...] by ZH And Americans are complaining at an average gas price in the mid $3 range. In Europe, gasoline has just hit an all time record of $8.632 per gallon! As HLN.be reports: “tomorrow the price of gas will reach an absolute record. Petrol 95 can hit €1.624 per litre. This breaks the 2008 record of €1.61 per liter.” Translated into American this means that a gallon of [...] |
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