Higher oil raises fuel prices

February 27, 2009 | Comments Off

Oil spiked Thursday (February 26) for the second day in a row. After reaching a near-term low in the low $30 range last week, oil has climbed to $45.22 per barrel as of the close of New York trade. This was the second consecutive day of strong gains for crude after reports showed demand for petroleum and gasoline may finally have reached bottom. Reduced imports and recent OPEC production cuts may also be having an effect on the price. Read more

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Gold Slips Again as Global Stocks Bounce

February 26, 2009 | Comments Off

THE PRICE OF PHYSICAL GOLD slipped further in Asia and London on Thursday, dropping to a two-week low beneath $940 an ounce as world stock markets rose for the second time in 13 sessions. Read more

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Gold Slips from $1,000

February 23, 2009 | Comments Off

THE SPOT PRICE of physical gold slipped to $980 an ounce early Monday, dropping 2.5% from Friday’s peak above $1,000 as world stock markets crept higher for the first time in 10 sessions. Read more

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Oil back over $40 as Dow reaches 6-year low

February 20, 2009 | Comments Off

Light sweet crude oil climbed $2.77 on Thursday (February 19) to settle at $40.18 in New York trade. A new government report showed that US oil inventory levels fell surprisingly, while use of gasoline and other petroleum products may be on the rise for the first time during the course of the recession. Read more

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Dollar stronger against major currencies

February 18, 2009 | Comments Off

The dollar has been steadily climbing against most other major currencies in the last few weeks. The greenback is certainly not making miraculous gains but it has held firm and pushed back against rough economic odds. The $789 economic stimulus plan finally went through Tuesday (February 17), but investors did not appear impressed as the Dow dropped by nearly 300 points. Read more

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Oil falls below $34

February 13, 2009 | Comments Off

Crude oil settled below $34 per barrel for the first time in two months on Thursday (February 12). Crude fell to $33.98 after falling by $1.96 during New York trade. The price of a barrel of light sweet crude has dropped by 20 per cent just since Monday. Uncertainty over the ability of the $789 billion bailout on the table to spark the economy and increase energy demand prompted Thursday’s fall. Read more

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Financial markets unimpressed

February 11, 2009 | Comments Off

Investors and consumers have anxiously awaited development in the economic stimulus plan. After the house passed an $800-plus plan last week, the Senate has debated various aspects of the bill for several days. President Obama has traveled around trying to sell the urgency of passing a bill and putting politics aside. Read more

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Retail struggles continue through January

February 6, 2009 | Comments Off

President Obama said Thursday (February 5) that the new economic stimulus bill would include some additional infusion of funds into the credit market. It is the retail sector that was the focus of bad economic news Thursday. Most major retailers struggled through the first month of the New Year as Americans are in a save and protect mode. Wal-mart was a lone bright spot in January earnings news, otherwise, the record low consumer confidence reported in January turned to low discretionary spending. Read more

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