"IDCN >> nothing left now > maybe little at .0038 but they will back off da gazelle crew no doubt >> MONKEYZ > moving to .004 > they are starting to feel the heat guyz > letz press hard after lunch >> idcn >> I WILL ADD TILL MY HEAD CAVES IN THATZ HOW SURE I AM "
-------------------- please dont trade stocks on my alerts, do your dd first.
IP: Logged |
quote: HOLD ON GAZELLE TEAM >> WE STILL HAVE NOT WON THE BATTLE WE ARE 25% INTO THE VICTORY >>> IDCN >> nothing left now > maybe little at .0038 but they will back off da gazelle crew no doubt >> MONKEYZ > moving to .004 > they are starting to feel the heat guyz > letz press hard after lunch >> idcn >> I WILL ADD TILL MY HEAD CAVES IN THATZ HOW SURE I AM
posted
a small shake, some took thier profits.. this will continue +++%% for a few days, no worries, its on its way back up now... 1x.0026, 3x.003 on ask
IP: Logged |
Fri Jun 2, 2006 9:10am ET LONDON (Reuters) - Only an unlikely, significant drop in oil demand can achieve what OPEC has failed to do -- steer near-record prices back to the $50 a barrel level that consumers and producers say they can live with.
OPEC ministers meeting in Caracas promised on Thursday to keep pumping as much oil as their customers want, but on Friday prices remained stubbornly above $70 a barrel and in striking distance of April's $75.35 all-time high.
With global economic growth resilient -- the International Monetary Fund has forecast 4.9 percent average growth this year -- there is no sign of the sort of collapse in demand that followed the oil shocks of the 1970s and 1980s.
"Global growth is still looking robust," said Richard Batty, global investment strategist at Standard Life Investments, which manages worldwide assets of 118.8 billion pounds ($222 billion).
"Economic recovery is coming through in Europe and Japan. We have synchronized growth globally and need a lot of that to come off the boil. It is keeping prices underpinned."
The days when the Organization of the Petroleum Exporting Countries could dictate the direction of the oil price with a pen stroke are gone. So are the days when the group, supplier of a third of the world's oil, could genuinely be called a cartel.
The situation on the oil market today is very different from the 1970s and 1980s. The oil shocks of the 1970s and 1980s happened for a simple reason: there were sudden cuts in supply as a result of the Arab oil embargo and the Iranian revolution.
Supply worries are certainly an element in today's high oil prices. Turmoil in Iraq and fears that a dispute over Iran's atomic program could halt supplies from the world's fourth biggest exporter have added an estimated $10-15 to the price.
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
