South Korea's Crude Oil Import
Last Updated on Friday, 01 July 2011 11:33 Friday, 01 July 2011 11:32
After the successful crisis pass in Greece, the international economy points its attention on the Indian and Chinese inflation. However, the fourth-largest crude oil buyer country of the east region of Asia, South Korea, showed up with impressing results at the end of the month.
In the Shadow of the crisis
Last Updated on Thursday, 30 June 2011 14:33 Thursday, 30 June 2011 14:32
The actual situation in international economy shows recovery signs for Europe, unstable prices of crude oil and the renewal of a crisis in East-Asia.
The End of IEA's Saving Plan
Wednesday, 29 June 2011 13:57The shock after IEA's plan with the release of 30 million of emergency barrels to change the crude prices last week, it's over. Although Brent reached on Monday barely the $100 per barrel, the situation seems to return to “normal”.
After the little course change in the last days, the US dollar dropped back and Greece is on the way to accept the European help-program and to recover from the crisis. And of course, the prices of crude oil are raising again. With a recover of almost 1,32%, a barrel of WTI costs $94,12. Brent raised up 1,56%, which means $110,50 per barrel.
However, in the next day's a tropical storm is awaited in the Gulf of Mexico. The oil plants may be spared, although they will be closed during the insecure weather.
This incident should not influence the oil demand and consumption of the US, experts said.
Recovery for the buyers?
Last Updated on Monday, 27 June 2011 10:55 Monday, 27 June 2011 10:52
As reported on Friday, the prices of crude oil are getting lower and lower in a very fast rhythm. Of course, everybody was waiting for this after the state in April, but this situation now has several other, unexpected, reasons too. Brent is dropping about 1.06%, WTI 1.04%.
Release of Reserves Gets Prices Lower
Last Updated on Friday, 24 June 2011 15:20 Friday, 24 June 2011 10:55
The crude oil prices had a really bad time during the last month, from the view of the buyers. Almost $114 cost per barrel in April. The last time the prices were as high as they were in 2008. Then came another raising after the OPEC meeting. The dollar was still low and the economy not just catching up in the United States, but also in Europe there are no sunny days. But at the start of the second half of this year the IEA proposed a solution for this problem.