It is reported that Morocco’s January crude oil imports stood at MAD 720.6 million, dropping 71.8% YoY as compared to the same period in 2008. For full story, click here
Continue reading "Morocco’s crude oil imports in Jan dropped 71.8%"
Tuesday, November 11, 2008
It is obvious that a barrel price below $60 on the NYMEX is bad news for oil companies. Part of the drop reflects a strengthening American dollar, but recent demand forecast revisions are bleak. Governments, companies and investors think a prolonged recession or period of low growth is in the offing, and everyone should take note.
Continue reading "Benchmark:South of US$60"
Tuesday, November 4, 2008
Along with OPEC production cuts and healthy company numbers, (both discussed below) the market is clearly disjointed. The tenor of discussions in the business pages and networks lately suggests that Yeats was right, and the centre cannot hold. Recession or recovery, echo boom or bust, few are predicting prolonged instability somewhere between these extremes.
Continue reading "Benchmark: Things fall apart?"
Monday, September 29, 2008
Another rough day for investors this Monday. As it became clear that the American House of Representatives would reject the authorization law for the executive’s $700 billion financial sector bailout plan, commodities began to tank. Oil futures shed more than $10 of their value during the day, dropping to $96.37 per barrel.
Continue reading "Benchmark: Troubled waters"
Monday, September 15, 2008
Though ConocoPhillips (NYSE:COP) and Placid Refining Company are both receiving hundreds of thousands of barrels of crude from America’s federal reserves to continue refinery operations, and two rigs in the Gulf have been knocked adrift, the overall impact of Ike appears fairly benevolent to energy companies.
Continue reading "Benchmark: Focus on Ike and Nigeria"
Friday, August 1, 2008
Crude declined second day, after posting its biggest monthly drop since 2004 in July, on concern due to concerns about falling global consumption and slow economic growth. For full news, click here
Continue reading "Crude falls for second day due to demand concerns"
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Monday, March 16, 2009