Falklands : Hydrocarbons Daily Record (20/07/06)
Submitted by Falkland Islands News Network (Juanita Brock) 21.07.2006 (Article Archived on 04.08.2006)
Investors are turning their backs on the Mid East for now and looking for safe businesses in which to invest.
HYDROCARBONS DAILY RECORD: THURSDAY, 20 JULY 2006
By J. Brock (FINN)
At 1800 LMT on Thursday, 20 July 2006 Light Sweet Crude gained .42 Cents and settled at $73.08 on the New York Mercantile Exchange and Brent Crude fell .08 Cents to $73.72 per barrel on London’s ICE Futures Exchange.
TRENDS:
Prices are above $73.00 even though there is confidence in the good supply of gasoline in the United States. Indicators that are keeping the price high include the continued shelling in the Mid-East. Today it was worse. Investors, however, still look for safe areas to put their money until the current conflict subsides.
THE MARKETS
FTSE:
At the close of play, the FTSE100 was 7.1 points lower at 5,770.9 with the FTSE250 up 22.8 points at 9,207.2 and the FTSE Small caps 10.8 points better at 3,358.6. Volume remained below average with just 2.2 billion shares changing hands in 312,327 deals.
DOW JONES AND NASDAQ:
The Dow Jones Index lost 83.82 points or 0.76% and settled at 10,928.10 and the NASDAQ gained 41.29 points or 0.7% and settled at 2,080.71.
DEVELOPING FACTORS:
(Israel and Lebanon)
Reports today say that investors are finding other hydrocarbons entities in which to put their money are continuing and they are voting with the purse strings until things cool down. South American hydrocarbons are relatively safe at the moment, even though many governments have tried to claw back earnings to benefit their people.
LATIN AMERICA:
Generally investors are looking at using their money where it is conflict-free. Latin America looks as if it may fit the bill and investors are seeking alternatives even though the people are slated to get more of the oil dollars..
(Falkland Islands)
Falklands Oil Stocks End of Day Price for the 20.7.06
Desire Petroleum down 0.75p or 2 % on the day to stand at 37.50p
Falklands Oil and Gas unchanged on the day to stand at £1.14.50p
Rockhopper Exploration down 1p or 2.8% on the day to stand at 35p
Border and Southern unchanged on the day to stand at 45.5p
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