Latest topics
Oil prices fluctuate amid uncertain financial conditions in Europe
Page 1 of 1
Oil prices fluctuate amid uncertain financial conditions in Europe
Economics 10/20/2011 4:08:00 PM
Oil prices fluctuate amid uncertain financial conditions in Europe
KUWAIT, Oct 20 (KUNA) -- Current fluctuation of oil prices is attributed to prevailing doubts whether Europe has succeeded in resolving the financial crises, namely that of the sovereign debts of some European Union member states, said the Global Investment House (Global or GIH) in a report released on Thursday.
September witnessed unstable prices of the crude with attention of the concerned quarters, namely the investors, pinned to the European debts crisis, amid forecast drop of demand for oil in the continent.
European industrial indexes, for the first time since two years ago, turned bearish, particularly after Greece declared it was defaulting on its debts and payment of dues in the last quarter of this year.
Global forecast tremendous pressure on the oil prices with new negative news about cut of the credit rating of other EU states, namely Spain and Italy.
US Federal Reserve's prediction of further global economic sluggishness boosted anticipation of greater effects on the prices of oil.
Projected high demand for oil is expected to be from China, despite indication of drop of industrial activities, in September. Moreover, fall of manufacturing industries in the europe zone, for the first time since three years ago, would also boost the negative anticipations about the global demand for energy.
Global foresaw no hike of the demand due to the unstable prices.
The world demand for oil amounted to 87.8 million barrels till the third quarter of 2011. It is expected to drop 400,000 barrels per day in the end of the year, according to OPEC studies.
http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2197751&Language=en
Oil prices fluctuate amid uncertain financial conditions in Europe
KUWAIT, Oct 20 (KUNA) -- Current fluctuation of oil prices is attributed to prevailing doubts whether Europe has succeeded in resolving the financial crises, namely that of the sovereign debts of some European Union member states, said the Global Investment House (Global or GIH) in a report released on Thursday.
September witnessed unstable prices of the crude with attention of the concerned quarters, namely the investors, pinned to the European debts crisis, amid forecast drop of demand for oil in the continent.
European industrial indexes, for the first time since two years ago, turned bearish, particularly after Greece declared it was defaulting on its debts and payment of dues in the last quarter of this year.
Global forecast tremendous pressure on the oil prices with new negative news about cut of the credit rating of other EU states, namely Spain and Italy.
US Federal Reserve's prediction of further global economic sluggishness boosted anticipation of greater effects on the prices of oil.
Projected high demand for oil is expected to be from China, despite indication of drop of industrial activities, in September. Moreover, fall of manufacturing industries in the europe zone, for the first time since three years ago, would also boost the negative anticipations about the global demand for energy.
Global foresaw no hike of the demand due to the unstable prices.
The world demand for oil amounted to 87.8 million barrels till the third quarter of 2011. It is expected to drop 400,000 barrels per day in the end of the year, according to OPEC studies.
http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2197751&Language=en
*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie- Elite Member
- Posts : 1812
Join date : 2011-06-24
Re: Oil prices fluctuate amid uncertain financial conditions in Europe
Its just part of what I call the Hot Money Plays. Oil like gold and silver will always go up and down, just like any other comodity. Go RI and then lets watch oil and gold hit bottom within 6 months and we'll see better times world wide. AJ
Guest- Guest
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Yesterday at 6:02 am by Ditartyn
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Mar 23, 2024 9:25 am by swizzlestick
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Sun Jan 28, 2024 3:28 pm by Mission1st
» Tucker talking Canada
Wed Jan 24, 2024 6:50 pm by kenlej
» Almost to the end The goodguys are winning
Mon Jan 22, 2024 9:03 pm by kenlej
» Dinar Daily Facebook Page
Mon Jan 22, 2024 3:34 pm by Ponee
» The Fundamentals of Finance and Pimpy Live
Thu Jan 18, 2024 7:17 am by Dinarhater
» Why Won't the Iraqi Dinar Scam Die?
Wed Jan 17, 2024 5:19 pm by RamblerNash