Political Undertones Fuelling Emergency Crude Stockpile Debate
As more countries look to tap emergency crude reserves in an attempt to quell soaring fuel prices, many are questioning the real motives behind the move.
As more countries look to tap emergency crude reserves in an attempt to quell soaring fuel prices, many are questioning the real motives behind the move.
A brief overview of oil price developments, supply and demand and significant market movers.
WTI-Brent crude price spread the story of 2011 for oil.
Reuters reported that European debt concerns hurt the price of brent oil.
Analysts see Brent prices easing and WTI ending the year where it began, but do not rule out more volatility over Q4.
Spread between WTI and Brent crude the emerging oil story of 2011.
Oil prices eased modestly early on March 28 after advancing rebels in Libya announced that they would be able to resume crude exports in a week and Qatar promised to help them market their product on world markets.The price remains 8 percent higher than it was a month ago, and 30 percent higher than a year ago, challenging global economic recovery.
The Trans Alaska Pipeline was shut down on Saturday following the discover of a leak at an intake pump station at Prudhoe Bay, constricting supply in one of the United States' key oil arteries. Cold weather in the Northeast during December translated into 5 consecutive stock draws in the Central Atlantic, while New England stocks fluctuated during the month.
The month of October is National Energy Awareness Month, and amid the precursory anticipation of trick or treat customs, this month offers a chance to consider some worthwhile investment opportunities in this sector.
Prior to the Gulf of Mexico oil leak in April, U.S. regulators approved about a dozen permits a month to drill in the shallow waters off the Gulf. Following the spill, a considerably more cautious approach has barely allowed one a month, despite the six-month moratorium only affecting wells in much deeper waters.
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