Weekend News Wrapup 6/26/05
Will
oil prices rise even higher?
Hindu Business Line - India
... is reported
to have said: "Oil demand will increase when facing summer
and winter...We (OPEC) are worrying that the tendency is that (prices)
will increase". ...
Drivers
get hit at gas pumps as oil prices climb
San Francisco Chronicle - San Francisco,CA,USA
...
Last week, crude oil futures settled at a record of just below
$60 a barrel, after prices jumped on speculative buying and fears
of supply disruptions. ...
Rising
Oil Prices Pull Down Markets
Washington Post - Washington,DC,USA
It was April
all over again on Wall Street, where for the second time this year spiking
oil prices sent the stock market spinning to serious losses.
...
Industry
feels pinch from rising oil prices
Financial Times - London,England,UK
...
have a particular urgency this week as Congress considers an energy bill
that many claim should help ease pressure on oil, electricity and
natural gas prices. ...
Rising
oil prices to keep a dampener on markets
Age (subscription) - Melbourne,Victoria,Australia
...
"For Australian consumers, the rise in oil prices is
bad news," said AMP chief economist and head of investment strategy
Shane Oliver. ...
Beyond
the gasoline pump, surging oil prices are felt throughout
...
Pioneer Press - St.
Paul,MN,USA
... Rising oil prices "create
opportunities for others in the economy," Roe said. ... Food
bills jumped in March when crude oil prices topped $50 a
barrel. ...
Algerian
energy minister expects oil prices to reach 100 US dollar
...
Monsters and Critics.com
- Glasgow,UK
Energy and Mining Minister Chakib Khelil reaffirmed
yesterday that oil prices could reach about 100 [US] dollars
per barrel. He ...
Stocks
Little Changed As Oil Prices Fluctuate
Black Enterprise - New York,NY,USA
Wall Street's
fixation on oil prices left stocks little changed Wednesday,
although investors managed to react stoically to the government's
report of a drop ...
Yen
May Decline on Record Oil Prices, China Revaluation Rebuff
Bloomberg - USA
June 27 (Bloomberg)
-- The yen may weaken for a fourth day in Asia on concern record oil
prices will hamper economic growth in Japan, which imports almost
all ...
Oil
prices may push above $60 record: survey
Gulf Times - Doha,Qatar
CALGARY: Crude oil
prices, which jumped to $60 for the first time this week, are likely
to rise on speculation increasing fuel demand will drain US inventories
...
THE BIG SQUEEZE
BY BIG OIL
Kansas City Star -
MO,USA
... profits. In some instances, according to the
FTC document, the oil companies cooperated among themselves to reduce
refinery capacity. ...
Demand
Destruction By Bill Henderson
Al-Jazeerah.info
- Dalton,GA,USA
... Traders are supposedly spooked by
tight supply concerns, lack of refinery capacity, and worries
about possible production hiccups in the now increasingly ...
Coffeyville
plant brews oil, profits
Kansas
City Star - MO,USA
... Gulf Coast fuel has to be shipped
by pipeline and at least one major line, Explorer, was running at capacity.
If there is a demand spike, refinery outage or ...
Oil
Futures Settle Near $60
The
Ledger - Lakeland,FL,USA
Crude oil futures settled
at a record near $60 a barrel Friday as prices rose on speculative buying
and fears of supply disruptions due to refinery glitches. ...
Traders
pan OPEC plan to hike output
Taipei
Times - Taipei,Taiwan
The Organization of Petroleum Exporting
Countries' (OPEC) inability to bring down the cost of oil has
helped push US gasoline prices above US$2 a gallon (US ...
Opec
in talks to halt oil price rises
Telegraph.co.uk
- London,England,UK
Sheikh Ahmad al-Fahd al-Sabah, the president
of Opec, is this weekend holding discussions with Saudi and Qatari
oil ministers in a bid to cool soaring oil ...
Pressure
on Opec as oil hits $60
Financial
Times - London,England,UK
By Javier Blas in London. US crude
oil futures yesterday hit $60 a barrel amid high demand in the US for
middle distillates, such ...
Algeria's
Khelil sees oil above $50 this year
Reuters
South Africa - Johannesburg,South Africa
... OPEC
agreed last week to raise its formal production quotas by 500,000 barrels
per day to 28 million barrels per day, roughly matching its current actual
output ...
Innovator
resigns from exchange board
Houston
Chronicle - Houston,TX,USA
NEW YORK - Michel Marks, who launched
petroleum futures when the OPEC cartel had virtually complete control
of oil prices, has resigned from the board of the ...
Algeria's
Khelil sees oil above $50 this year
Reuters
South Africa - Johannesburg,South Africa
... Energy and
Mines Minister Chakib Khelil said on Saturday that oil prices will not
go below $50 per barrel this year, pressured by a lack of refinery
capacity. ...
Refining
Southwest
Arizona Republic -
Phoenix,AZ,USA
... He declined to name them but offered
the gist of his sales pitch. "The country continues to be short on
refinery capacity, and the place where it is ...
Oil
at $60 today; $100 tomorrow!
AME
Info - United Arab Emirates
... On thing that is sure
is that refinery capacity around the world is insufficient,
and that it would take five to 10 years of refinery construction
to keep pace ...
Oil
nudges $US60 a barrel
Newstalk
ZB - New Zealand
Insatiable demand and a lack of refinery
capacity are responsible. Oil industry expert Ray Holloway says
one country is a particular ...
Dubai's
sugar refinery plans to boost capacity
Khaleej Times - Dubai,United Arab Emirates
LONDON
-- Dubai's Al Khaleej sugar refinery, the largest in the Gulf,
plans to raise white sugar refining capacity to 7,500 tonnes per
day by the end of ...
Rise
in oil prices hits airline tickets
Economic Times - India
PARIS: The latest rise
in oil prices, taking the price of a benchmark barrel past
the $60-mark for the first time, is having an impact on airline ticket
prices ...
Rising
oil prices continue to drag Wall Street down
Chicago Sun-Times - Chicago,IL,USA
NEW
YORK -- Rising oil prices plagued Wall Street again Friday
as the Dow Jones industrial average suffered its second straight 100-point-plus
loss, ending a ...
High
oil prices batter stocks
London
Free Press - London,Ontario,Canada
TORONTO -- North American
stock markets ended the week on a sour note after bullish crude oil
prices closed at all-time highs, battering stocks as investors
...
OPEC
chief contacts cartel members to calm soaring oil prices
Channel News Asia - Singapore
...
said Saturday he had contacted the Saudi and Qatari oil ministers
as part of consultations with cartel members to study measures to calm
soaring oil prices. ...
Caltex, Total
raise pump prices anew
Manila
Bulletin - Manila,Philippines
Still reeling from the proverbial
drastic climb in world oil prices, two of the players in
the domestic industry -- Caltex Philippines, Inc. ...
High
oil prices prompt fuel levy reform call
ABC Online - Australia
The Prime Minister has
warned that soaring oil prices could curb world growth and
he will be seeking advice when he visits the United States next month.
...
Worry
over surging oil prices ends winning streak for indices
Telegraph.co.uk - London,England,UK
Jitters
over high oil prices ended a three-day winning streak for
the blue-chip index and brought the FTSE 250 off its all-time high. ...
Oil
futures edge up, but hold under $60
MarketWatch - USA
SAN FRANCISCO (MarketWatch)
- Crude-oil futures edged higher Friday, but held ground
under the $60-a-barrel level with traders still mulling the unstable ...
Oil
futures stay close to all time highs
Forbes - USA
LONDON (AFX) - Oil futures
stayed within spitting distance of all-time highs, although attempts to
surpass 60 usd per barrel were thwarted by quick bouts of ...
Crude
Oil Futures Mean Higher Prices at the Pump
WISH - Indianapolis,IN,USA
...
With crude oil futures hitting the $60-per-barrel mark this
week, "the demand worldwide for energy has certainly put a pressure
on this commodity," said LH ...
Oil
futures touch US$60 in Asia
Taipei
Times - Taipei,Taiwan
Crude oil futures briefly
touched US$60 a barrel in Asian trading yesterday, hours after reaching
the psychologically important mark in New York, as prices ...
Oil
futures stay close to all time highs
FXstreet.com - Barcelona,Spain
... With
the thirst for global oil demand unabating, Barclays analysts Kevin
Norrish said: "Unless the dynamics of demand and supply change significantly,
prices ...
Oil
grazes $60 a barrel, rattles markets
Arkansas
Democrat-Gazette (subscription) - Little Rock,AR,USA
...
"As an airline owner, the more oil-refinery capacity
that can be created, hopefully we can drive prices down," said British
billionaire Richard Branson, whose ...
Alcoa
concentrates on raising aluminium production
Food Navigator - France
... Meanwhile the
company is expanding alumina refinery capacity in Australia,
Jamaica, and Suriname and constructing a smelter in Iceland. ...
$1.12
gas predicted by independent retailer
CBC
British Columbia - Vancouver,British Columbia,Canada
...
refinery level which is somewhat changed from 25 years ago when
the refineries were squeezed for margin because there was an abundance
of refinery capacity.". ...
Stocks
set to open up on oil prices
BusinessWeek - USA
JUN. 24 7:06 AM ET US stock
futures are higher Friday after record-high crude oil prices
sent stocks plummeting Thursday. Investors ...
Oil
prices settle at record near $60
BusinessWeek
- USA
... Oil prices are nearly 60 percent
higher than a year ago, though still below the inflation-adjusted high
above $90 a barrel set in 1980. ...
Wall
Street stocks fall sharply on high oil prices
Xinhua - Beijing,China
...
confidence. Crude oil prices set another record high of
59.84 dollars a barrel, the highest close in more than two decades. With
...
How higher oil prices
could help housing
MSNBC - USA
Surging
oil prices helped drive the stock market sharply lower this
week, rapidly undoing a rally that had been gaining momentum over the
past several weeks. ...
Treasuries
boosted as oil prices gnaw at stocks
Reuters - USA
... The Dow Jones industrial
average logged its second consecutive triple-digit loss, spooked by high
oil prices that place a de facto tax on consumer spending.
...
Canadian
Stocks Rise in Week on Oil Prices; Energy Shares Gain
Bloomberg - USA
June 24 (Bloomberg)
-- Canadian stocks rounded off a sixth week of gains as record oil
prices boosted energy stocks including PetroKazakhstan Inc. ...
Bonds
rise as oil prices increase
BusinessWeek
- USA
JUN. 24 6:06 PM ET Bond prices rose Friday, while
stocks fell on rising oil prices. ... Wall Street
appeared to focus on rising oil prices. ...
Oil
prices plague tech stocks again; Nasdaq down 1.8% for week
San Jose Mercury News - San Jose,CA,USA
Rising
oil prices plagued Wall Street again Friday, ending a week
dominated by concerns that energy costs would soon eat into corporate
profits. ...
Stocks
drop on climbing oil prices
BusinessWeek
- USA
24 11:15 AM ET Stocks wobbled lower Friday as investors,
unable to shake their jitters over high oil prices, shrugged
off mostly upbeat government data showing ...
Stocks
Fall Amid High Oil Prices
FOX
News - USA
... Rising oil prices are generally
negative for stocks, as they increase companies' expenses and reduce
consumers' discretionary spending. ...
