RIA Novosti declared that Gazprom Neft, the oil producing arm of Russian energy giant Gazprom net profit calculated under Russian Accounting Standards dipped 56.5%YoY in January to June 2009 to RUB 26.359 billion. For full story, click here
The Russian ruble weakened sharply in early trade Friday, moving close to levels not seen since early spring as international crude oil prices continued to dip. For full story, click here
Russian oil company Tatneft declared that its net profit surged 25 percent year-on-year in the first quarter on the back of sharply lower costs and taxes but still learned less per barrel than its peers. For full story, click here
The jump was all too clear. A surprise drop in U.S. oil inventories caused crude prices to jump 14 per cent on Thursday, in New York, powering a broad commodities rally that pushed copper and corn higher. The only noticeable drop was in gold, which closed lower for the first time in three days.
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.
Think of how your day would go if you couldn’t use the internal combustion engine, plastic, most electricity, the products of commercial agriculture or anything that has traveled by ship.
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