International
These 15 countries with the World’s Largest Oil Reserves
IN 2011, the government of the United States (U.S.) estimated the world’s proven oil reserves total 1.35 trillion barrels. That is, in the earth that much oil is still there waiting to be appointed to the surface.
Mostly, the oil producing countries are existing today originated from the Middle East, the Gulf of Mexico, and several other regions in the world.
As quoted by CNBC, Tuesday (06/03/2012), based on data from the Energy Information Administration and the CIA World Factbook, here are the countries that have the largest oil reserves in the world.
A. Saudi Arabia.
Oil reserves totaled 262.6 billion barrels, or 17.85 percent of total world oil reserves. Total production in 2010 was 10.52 million barrels, 2.64 million barrels of oil consumption, and U.S. exports to 1.47 million barrels. › Continue reading
Gold luster back Fading
The price of gold began to decline due to a weaker euro and lower oil prices. Thus, this precious metal failed to test technical resistance at the top of USD1.800 per ounce after a sharp rally last week.
This metal could rise sharply after data showed the euro zone money supply grew 2.5 percent in January on an annual basis. The metal is up 13 percent year to date (ytd) after the expected easing of monetary policy as the key to keeping the economy.
Quoting Reuters, Tuesday (02/28/2012), spot gold edged down 0.2 percent and ended at USD1.769, 40 per ounce, after rising 3.00 percent last week, and became the biggest weekly rise in the last four weeks. This precious metal, has been struggling to stay above USD1.780 per ounce, the highest resistance area since last December. › Continue reading
Oil Prices Parking at Lower USD106/Barel
Oil prices fell to below the level of USD106 per barrel in Asia after a report of oil supplies in the United States (U.S.) showed growth beyond the forecast.
As quoted by the Associated Press (AP), Thursday (2/23/2012), the price of oil for April delivery fell 38 cents an advanced USD105, 90 per barrel on the New York Mercantile Exchange. Furthermore, Brent crude fell 20 cents to US122, 7 per barrel in London.
American Petroleum Institute said crude inventories rose 3.6 million barrels last week while analysts surveyed predicted there will be an increase in the use of 1.7 million barrels of oil. › Continue reading
Projected price of Gold will Continue to Go Down
Predicted gold prices will continue to weaken in the coming weeks. This occurs because the potential for a stronger U.S. dollar against other currencies.
Stock market analyst Nico Omer explained for the next few weeks commodities markets will also likely depressed due to the strengthening of the dollar against the rupiah this.
“Gold is possibly bearish as the dollar strengthened and the potential world stock markets and commodity markets are likely to weaken over the next few weeks,” said Nico in a short message to Legal, Monday (02/13/2012). › Continue reading
Deal of Greece, the U.S. Stock Market Light Up
The stock market is the United States (U.S.) regained some strength after Greece and creditors find an agreement about the debt.
Previously, Greece announced that it has berkomimen to cut costs and avoid default on debt falling due within the next month. Even so, the stock market apparently still declining. Analysts said the market had expected the Greek deal and warned that Europe still faces problems.
“We still have a lot of homework,” said chief analyst at UBS Wealth Management Jeremy Zirin such as reports from the Associated Press (AP), Friday (10/02/2012). › Continue reading
Brent oil prices back down to USD113/Barel
London crude oil prices fell 68 cents, aka Brent to USD113, 90 per barrel on concerns related to the resolution of the Greek debt talks to avoid a default that still has not come to fruition.
Quoting Reuters, Tuesday (07/02/2012), crude oil the United States (U.S.), West Texas Intermediate (WTI) or Texas light sweet crude for March delivery fell $ 1, 03 to USD96, 81 per barrel in electronic trading on the New York Mercantile Exchange (NYMEX). After rising $ 1, 48 to USD97, 84 on Friday.
This, due to worries traders in Greece if political leaders fail to agree on the possibility of austerity measures demanded by the new international bailout rescue team if it did receive more bailout loans. › Continue reading
Greece Meet debt restructuring stalemate
Euro-zone finance ministers said if the Greeks could not continue the agreement on debt restructuring.
As reported by Reuters expect the euro zone ministers had a meeting on Monday to complete a second bailout for Greece, which should have been done at least mid-March to avoid clutter. But the meeting was postponed because of the reluctance of Greece and is committed to reform.
Instead, the ministers held a meeting on Saturday last, to check the progress of the loan package, which is set at 130 billion Euro October.
“The main problem is the lack of reform, or lack of previous action in Greece,” said one official.
Meanwhile, the minister also said the euro zone are not satisfied with the Greek finance minister, Evangelos Venizelos because they believe the minister is more concerned with its position within the party ahead of April elections, rather than talk about reform. › Continue reading
Gold Touch Expensive Price Since August 2011
Gold prices moved higher up to 11 percent, and put it in the highest position since August 2011 last.
Strong commodity prices is a safe haven along with market participants re-emergence of concerns over global economic conditions following the negative economic data.
U.S. home prices fell more sharply than expected in November, and consumers turned to less optimistic in January because of the economic recovery still faces hurdles.
Market participants also focused on a survey of global manufacturing even in China and the eurozone by the Institute for Supply Management’s index of U.S.. › Continue reading
Citigroup boss resigns Planning?
Citigroup Chairman Richard Parsons, is rumored to be resigning after three years of dedicated in his position. In fact, he is the person who most contributed to the bank’s control over the global crisis of 2008.
Reported The Wall Street Journal, as reported by the Straits Times, Monday (01/30/2012).
According to a source who declined to be named, The Wall Street Journal revealed when the decision was unanimous Parsons. He will officially resign in early March. › Continue reading
Oil Prices Touch USD100/Barel Thanks to the Fed
Crude oil prices rose again due to the central bank’s plan of the United States (U.S.) or U.S. Federal Reserve (Fed) to maintain its interest rate until the end of 2014.
After meeting to discuss the policy, which took place over two days, the Fed declared the U.S. economy is sufficiently developed, despite the global economic slowdown, the U.S. unemployment rate is still high and the economy faces significant downside risks.
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“This bodes well for the U.S. dollar to strengthen, and higher commodity prices as the Fed will continue to restrain inflation as part of efforts to revive the U.S. economy,” said Again Capital LLC, John Kilduff, in New York, as reported by Reuters , Thursday (26/01/2012).
“We saw some policymakers in the Fed, choose to see the first increase in interest rates this year, with several others looked at the increase in 2016. In terms that might be a long-term investors may be detained, on accommodation policies of the Fed,” said PFGBest Research analyst Phil Flynn in Chicago. › Continue reading