Commodities also gained today on speculation demand will increase from China as the country resumes work at factories and infrastructure projects that were shut or slowed during the Olympics, which end Aug. 24.
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the only refiner and the leading distributor of oil products in Portugal, and GDP - Gás de Portugal, SGPS, S.A.
Due to this companies attitude and policy Portugal has one of the highest final consumer price for any oil product (diesel /regular) in the world.
The company has a policy that every time the price of crude in the international market increases the price paid at the pump by the motorist is agravated by +/- 3 cents per litre..
Nymex crude is down about $33, or 22 percent, from its high of $147.27 on July 11, however this same company
only reduced oil prices by half a cent or as was the case today (13-08-2008) one cent !!!
In London, Brent crude for September was priced at $111.91 a barrel, but motorists in Portugal are paying this same crude priced over $140.00 a barrel !!!
These inflated prices have the approval of the government and other oil companies such as BP and Repsol, these companies practice the same consumer prices all the time..and of course the higher the oil price the more revenue for the government....Oil consumption in Portugal this year has dropped more than 8% and all tendencies indicate that it will continue and pass 11% !!!
Galp is Portugal's leading integrated oil and natural gas group, with a growing presence in Spain and a developing power business ...BUT THE FINAL CONSUMERS ARE THE ONES PAYING FOR THE COMPANIES EXPLOITS..
THIS COMPANIES IMAGE WITH THE PUBLIC HAS NOW REACHED THE LOWEST EVER...AND IT WILL CONTINUE...
Zenni Optical offers eye glasses frames that of high quality and cheap. Yep cheap because you can get one for a very low price of $8.00.
The Secret to Zenni’s Low Prices is that they sell only their own manufactured frames direct to the customer, There are no importers, distributors or other middlemen that add cost that you will pay for in the end that is why it si so cheap.They have the finest and the cheapest eye glass frames online and offer thousands of frames that you can choose from.
Infact,They are making a buzz and even had a postivve report on FOX News TV recently, just on TV but also on the radio. And not just that, even the popular
In this time of crisis, everything is getting so expensive, why not grab the opportunity to save on everything. Glasses and Frames are not cheap this days, So good thing there are site like Zenni optical that can make our life a little easier right?
The euro is poised for its biggest weekly loss since January 2005 after ECB President Jean-Claude Trichet yesterday said economic growth will be ``particularly weak'' through the third quarter.
This is the beginning of a new chapter for the dollar as Trichet and other central banks are paying more attention to the downside risk to growth,The decline of oil prices is a significant driver behind this dollar rally because it enables other central banks to turn their eyes away from inflation and focus on growth.
The South African rand led losses among the most-traded currencies as the prices of gold and platinum dropped, reducing prospects for export earnings from the country's biggest exports.
The Russian ruble fell by the most in 2 1/2 years against a dollar-euro basket used by the government after Georgia's Interior Ministry said four Russian fighter-jets entered Georgian airspace and bombed the towns of Gori and Kareli, boosting the risk of war.
The pound fell below $1.93 for the first time since March 2007 as the Bank of England kept its main interest rate steady at 5 percent yesterday after inflation accelerated and the economy teetered on the brink of a recession.
The dollar may rise to $1.4970 per euro in the next few days....
Oil dropped to its lowest since May 5 as Edouard's sub- hurricane wind speeds eased concern that offshore and platforms would be damaged by the storm.
Very little oil production has been shut in by Tropical Storm Edouard, gasoline stocks in the US are high enough to limit any crisis from refinery shutdowns, so the market's returning its attention to the weak demand picture.
Crude oil for September delivery fell as much as $3.41, or 2.8 percent, to $118 a barrel in electronic trading on the New York Mercantile Exchange. The contract traded at $118.95 at 10:27 a.m. London time. Brent crude for September settlement fell as much as $3.77, or 3.1 percent, to $116.91 a barrel on London's ICE Futures Europe exchange, and was at $118.28 at 10:24 a.m. London time.
Oil has lost almost $30 since touching a record of $147.27 a barrel in New York on July 11 as unprecedented fuel costs prompted consumers in Europe and the US to limit fuel spending.
The dollar rose to a six-week high against the euro before a Federal Reserve meeting today at which policy makers may leave interest rates on hold and highlight concern about inflation. The dollar traded at $1.5494 per euro, the strongest level since June 24.
Demand destruction seems to be gaining some credibility and traction. News about Iran testing a new anti-ship weapon this weekend and the storm would have had the market up $5 three months ago. The fact that it hasn't does indicate some shift in psychology..The commander of Iran's Islamic Revolutionary Guards Corps, Brigadier General Mohammad-Ali Ja'fari, announced the weapons test today on state-run news services. He also reiterated a warning that Iran could respond to any attack by closing the Strait of Hormuz, through which a quarter of the world's oil is exported.
This attitude by Iran cannot and will not be tolerated by any Western and Middle East powers...any move to block the Strait of Hormuz is pure speculation...
World crude demand will continue to fall and by the end of summer there will be another 3% decline in crude demand...the demand will only reach normall values when the crude price reaches and stays below $100 a barril...
The comments by Mofaz, seen as one of the candidates for Israeli prime minister after Ehud Olmert said he wouldn't run for re-election, fueled speculation that the
Oil Rises $4 on Israeli Comments About Iranian Nuclear Program …
Crude oil for September delivery rose $4.10, or 3.4 percent, to $128.26 a barrel at 10:22 a.m. on the New York Mercantile Exchange.
Oil shale crude In the middle of all this market crises..some "Did you know".. Oil shale crude is actually composed of kero...
Super95 is the most common type of fuel in Europe and is found on each gasoline station. Portugal the price for gasoline are 14-19% more ...
Optimus Trading Group http://www.optimusfutures.com/ Oil and Gold are evil. Oil is the causes of wars and so is gold. So it means you shou...
Oil continued its declined since Thursday 05-08-2011 in New York, its longest losing streak since May, as investors bet that signs of a slow...