According to a recent report by Bloomberg, Libya’s largest refinery – Ras Lanuf, has been shut down due to the fights between the rebels and Qaddafi’s army. Currently there were no reports of any damage, however if there will be…
Category: News Feed
Is Portugal next in line for a bailout?
After the bailout plans that were handed to Greece and Ireland by ECB, it’s now time to see if Portugal is next in line. Currently, Portugal’s government bonds (10 years) have a yield of 7.48, which is a 3.42% increase…
Does the Middle East turmoil affecting natural gas prices?
After yesterday’s high gains in Natural gas prices, not only natural gas spot price but also future price (Henry Hub) April devilry as it rose by 3.15% to reach 3.93$/mmbtu. There are some speculations around this recent rise, as reported…
OPEC members are to raise their oil output
According to FT due to the recent turmoil in the Middle East, and in particular in Libya – an OPEC member and responsible for nearly 2% of the oil output worldwide – OPEC members (Kuwait, the United Arab Emirates and Nigeria) have…
The turmoil in Libya progresses and fueled by oil
The Libyan turmoil progresses as the fights between the rebels and Qaddafi’s people don’t seem to subside. Currently the rebels are trying to push towards the Qaddafi’s hometown of Sirte in the east. As a result the current turmoil…
U.S Labor report didn’t show improvement in employment
The Bureau of Labor Statistics published the U.S. employment report last week on Friday, March 4th, for the month of February 2011. There is an ongoing rise in job gains, however in a slower rate than reported during the previous…
Norway Oil Drillers Suffer Worst Dry Spell in Decades as Reserves Dwindle
There is an interesting post on Bloomberg about the recent dry spell of Norway oil drills. This might be one the reasons for the ongoing rise in Brent oil over other major oil prices such as WTI. For more on…
Riots in Iran raise the Middle East uncertainty
After the riots in Egypt and Tunisia have subsided and the turmoil in Libya continues, the next country in the Middle East causing the stir up in the region is Iran. Many have thought it will only be a matter…
US armed forces are repositioned in Middle East as Libya turmoil continues
As the Libya turmoil progress, the UN continues to add additional sanctions on Qaddafi, including arms embargo and seizing assets of Qaddafi and his family in attempt to stop the bloodshed in Libya. There are also reports of US armed…
UN Security Council sanctions Libya
As the Libya turmoil continues, the UN Security Council decided to pose economic and commercial sanctions against Libya and also called for the immediate investigation of the crimes being committed in Libya mainly by Qaddafi and his people. In the…