Oil Prices tumbled towards $74 a barrel on Tuesday, approaching one-month lows, after higher reserve ratios for selected Chinese banks took effect, rekindling concern that tightening measures by the world's second-largest Oil consumer would restrain demand.
The Shanghai Composite Index fell more than 2 percent, after China's central bank told the banks that needed to raise their reserve ratios to make the change on Tuesday, banking sources said.
U.S. light, sweet crude [CLC1 74.46 -0.80 (-1.06%)] fell as much as $1.12 a barrel to $74.14 and was down on the day. On Friday, it touched a one-month intraday low of $74.01, retreating from a 15-month peak of $83.95 on Jan. 11.
ICE London Brent [LCOC1 72.96 -0.73 (-0.99%)] declined. Read more...
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Tuesday 26 January 2010
Thursday 21 January 2010
Wednesday 20 January 2010
BHP Boosts Oil, Gas Exploration Spending Forecast 33% on Wells
Top Stories
According to Bloomberg, because there is an increase in drilling in the U.S. Gulf of Mexico and offshore Australia, the biggest oil and gas producer in Australia declared its forecast for petroleum exploration spending by 33 percent.
"BHP said in October it was on target for 10 percent annual growth in petroleum output in the year ending June 30." However, going with the increase in the prices of Crude Future is the environment concerned. After the Crude Oil is pulled from the ground it needs to be transported by truck, pipeline or super tanker. Using tanker trucks is the least efficient and has a greater environmental effect of the three methods of transportation. That’s when everything is going accident free, but that’s not how it always works out. There have been a handful of pipeline explosions over the past several years that resulted in the release of harmful emissions from burnt fuel and 100s of thousands of carbon based fuel spilt. These occurrences are the result of standard pipeline erosion as well as human intervention. Tanker spills are one of the most publicly noted environmental risks associated with oil production. The infamous Exxon Valdez tanker crash resulted in 10.8 million gallons of oil that was dumped into the ocean. Cleaning up an oil spill of this size is both expensive and time consuming. Although rare in occurrence, oil tanker spills have a devastating impact on the environment. Certain aspects of the oil industry will come and go with political favor. These changing trends will have significant implications on the crude market.
Tuesday 12 January 2010
Crude Oil Prices
Today, many factors impact on the Crude Oil Prices. Then, if you want to catch up with the up-to-date information, let's find it at Commodity Prices Oil and Current Crude Oil Prices.
Commodity Crude Oil:
Crude Future is one of the most actively traded commodities markets nowadays. If you are passionate about trading Crude Oil in Future, you should have a good understanding about Crude Oil Future Market. Before Trading Crude Oil, you should learn more about Crude Future fundamentals & valuable tools for the Commodity Market Oil.
The Green Movement:
Oil Production and the Impact of Environmental concerns:
The consumption of Crude Oil and the environment issues are related to each other. When the demand goes up, it will lead to the moving of the supply of Crude Oil; and this will cause the damage to the environment when the exploitation of Crude Oil occurs. Based on the statistics, there is about 10.5 trillion pounds of carbon emissions from U.S. Just imagine that if the demand increases, the Crude Oil Exploitation and the impact of environmental relating to Oil production will increase in the negative way. And this means that these impacts relating to the environment and greenhouse gases have rapidly evolved into political and social hot topics.
As we know that the process of exploring, producing, and transporting oil all has an influence on the environment.
When there is oil spill, cleaning up an oil spill of this size is both expensive and time consuming. Although rare in occurrence, oil tanker spills have a devastating effect on the environment. Certain aspects of the oil industry will be related with political favor and social issues. These changing trends will have important implications on the Crude Oil Market.
Commodity Crude Oil:
Crude Future is one of the most actively traded commodities markets nowadays. If you are passionate about trading Crude Oil in Future, you should have a good understanding about Crude Oil Future Market. Before Trading Crude Oil, you should learn more about Crude Future fundamentals & valuable tools for the Commodity Market Oil.
The Green Movement:
Oil Production and the Impact of Environmental concerns:
The consumption of Crude Oil and the environment issues are related to each other. When the demand goes up, it will lead to the moving of the supply of Crude Oil; and this will cause the damage to the environment when the exploitation of Crude Oil occurs. Based on the statistics, there is about 10.5 trillion pounds of carbon emissions from U.S. Just imagine that if the demand increases, the Crude Oil Exploitation and the impact of environmental relating to Oil production will increase in the negative way. And this means that these impacts relating to the environment and greenhouse gases have rapidly evolved into political and social hot topics.
As we know that the process of exploring, producing, and transporting oil all has an influence on the environment.
When there is oil spill, cleaning up an oil spill of this size is both expensive and time consuming. Although rare in occurrence, oil tanker spills have a devastating effect on the environment. Certain aspects of the oil industry will be related with political favor and social issues. These changing trends will have important implications on the Crude Oil Market.
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