Falklands : Hydrocarbons Daily Record (06 November 2007)
Submitted by Falkland Islands News Network (Juanita Brock) 07.11.2007 (Article Archived on 21.11.2007)
Supply worries, the weak dollar and geopolitics helped to increase the price of crude today.
HYDROCARBONS DAILY RECORD (06 NOVEMBER 2007)
By J. Brock (FINN)
CRUDE PRICES Tuesday, 06 November 2007:
Light Sweet Crude traded at $96.59 up $2.61 on the New York Mercantile Exchange. Brent Crude was trading at $93.10 up $2.61 on London’s ICE Futures Market.
ANALYSIS Tuesday, 06 November 2007:
Crude prices continue to increase due to a variety if reasons including geopolitical concerns, inadequate supply, increasing demand and the weak dollar. Investors are using crude futures to insulate themselves from the weakening dollar. Nervousness about the bombing of an oil pipeline in Yemen and a suicide bombing in Afghanistan also have added to price increases.
SHARE PRICES: MONDAY, 05 NOVEMBER 2007
London Stock Exchange:
TLW: 647.000 up 3.00 DES: 27.50 down 0.75, FOGL: 143.50 unchanged, RKH: 50.50 unchanged, BOR: 36.50 down 0.50, PRE: 15.50 up 0.50, GBP: 9.50 down 0.25, GPK: 425.00 unchanged, BLT 1750.00 down 55.00 RDSA: 2033.00 down 12.00, RDSB: 2017 down 17.00, RDSD: 39.21 unchanged.
New York Stock Exchange:
XOM: 87.66 down 0.27
SHARE PRICES: TUESDAY, 06 NOVEMBER 2007
TLW: 668.00 up 20.50 DES: 27.00 down 0.50, FOGL: 151.50 up 8.00, RKH: 50.50 unchanged, BOR: 36.50 unchanged, PRE: 15.50 unchanged, GBP: 10.00 up 0.50, GPK: 425.00 unchanged, BLT 1775.00 up 75.00 RDSA: 2020.00 down 10.00, RDSB: 2008 down 9.00, RDSD: 29.05 down 10.16.
New York Stock Exchange:
XOM: 90.19 up 2.53
THE MARKETS ON MONDAY, 05 November 2007:
FTSE100: 6,461.40 down 69.20, FTSE 250: 11,314.40 down 128.27, SmallCap: 3,377.20 down 31.58.
DJI: 13,453.40 down 51.70, NASDAQ: 2,795.18 down 15.20, S&P500: 1,502.17 down 7.48
THE MARKETS ON TUESDAY, 06 November 2007:
FTSE100: 6,474.90 up 13.47, FTSE 250: 11,334.90 up 20.47, SmallCap: 3,3788.10 up 14.89.
DJI: 13,622.33 up 78.93, NASDAQ: 2,812.43 up 17.27, S&P500: 1,514.43 up 12.26
INTERNATIONAL DEVELOPMENTS:
(Rwanda)
Analysts say that in 18 months the government of Rwanda should know the extent of acreage where there might be hydrocarbons. An agreement was signed by the government and Canadian firm Vangold Resources Ltd to explore for hydrocarbon potential evaluation over north western Rwanda. According to a press release on Friday Company will “conduct a detailed and comprehensive study of the area to identify those areas of greatest prospective interest.” Exploration will include an aerial survey.
REGIONAL DEVELOPMENTS:
El Cronista, the Argentine business newspaper reported on Tuesday that gasoline prices in the country have slowly increased recently without pressure from the Kirchner government. According to the article gasoline prices have increased to nearly $0.86 per litre in some provincial cities. That would be a 36% increase since mid-April, when retailers began to increase prices at the pump.
(100X Translation Service)
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