Articles Tagged "Economic"

Higher Oil: Sign Of Economic Growth

It was a stock that people loved to hate. During the first half of 2008, investors cringed when they saw rallies in the price of oil. As crude surged to $150 a barrel last year, equity investors bemoaned the hit, and worried and gossiped about the outlook for consumer-oriented firms which would need to spend more on gas. Then the tide turned.

Crude oil traded near highest in four months as stocks rise

Crude oil traded near the highest level in almost four months after the U.S. stock market rose, a sign that economic growth and fuel use in the world’s biggest energy-consuming country may rebound. David Moore, a commodity strategist at Commonwealth Bank of Australia Ltd. in Sydney, stated: There’s been a positive reaction in the equities [...]

Crude declines on economic worries

U.S. crude oil futures declined 4 percent, sliding with Wall Street on concerns about the economy amid uncertainty about government steps to protect ailing banks. Phil Flynn, analyst at Alaron Trading in Chicago, said: The fall in stock prices (on Wall Street) is pulling crude futures down, but the earlier Petrologistics report on OPEC’s lower production [...]

Benchmark: Things fall apart?

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.

OPEC Risks Split on Poduction Cuts as Economies Reel, Oil falls

OPEC members plan to slash production and raise prices just as developed nations face their worst recession since 1983. Algerian minister and OPEC president, Chakib Khelil, said: There is a consensus to reduce production, but there is no agreement on how much to cut. Reduction at the group’s Oct. 24 meeting in Vienna may be only [...]