According to the recent IEA – International Energy Agency monthly report on oil markets around the world for the month of May 2011: OPEC’s oil output rose to 29.18 mb/d, but is still below the pre-Libya turmoil era by 1.25…
Tag: crude oil prices
Oil prices monthly outlook –June 2011
Crude oil prices started off the month of May with sharp falls which were stimulated, in part, by the appreciation of US dollar against major currencies; oil prices gained back some of their value by the end of the month.…
Oil prices started June with little changes – Weekly recap 31 May- 3 June
Crude oil prices started off the last week with falls but afterwards they have remained with little changes during the week. It seems that the financial market is still seeking direction for crude oil prices. The recent disappointing US labor…
Oil prices fell while gold prices inclined –June 1
June started with moderate changes in major commodities prices as they are still seeking direction with gold, crude oil and silver continue to zigzag as they did in the past couple of week. Here is a summary of the main…
Oil prices inclined during last week – Weekly recap 23-27 May
Crude oil prices, much like other commodities prices, made a comeback, mainly during the first half of the week. There are several factors to consider the recent upward trend of crude oil prices including the weakening of the US dollar,…
Gaddafi seeks a ceasefire agreement again
According to Reuters, Libya’s Gaddafi is seeking a cease fire agreement with the rebels and the NATO. Spain is among the countries that are reported to receive the ceasefire offer. It doesn’t seem that the offer will be excepted by…
Major currencies drop against the US dollar
The major currencies including Euro to US dollar conversion rate and Australian dollar /US dollar due to speculation over these economies’ progress. The Euro to US dollar conversion rate is declining probably due to the speculation around the economic recovery…
Oil prices didn’t move much last week – Weekly recap 16-20 May
Crude oil prices, just like other major commodities’ prices, continue to slow down in the level of change during last week; as a result, oil prices didn’t present a clear upward or downward trend; this might be due to the…
EIA outlook for 2012 shows oil market will tighten
In last week’s oil outlook of the Energy Information Administration for 2011 it was reported that EIA analysts expect that the OPEC crude oil production will decline in 2011 by 450,000 bbl/d compared to 2010, but the non-OPEC countries will…
Euro Area annual inflation grew by 2.8% April 2011
The Eurostat published yesterday that the Euro Area inflation rate grew by 2.8% (Y-2-Y) during April 2011. This is a moderate increase from March’s inflation rate of 2.7%. The EU inflation rate during April reached 3.2%, an increase from 3.1%…