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  • Israel's training exercise worries oil markets

    The US has now confirmed what oil traders have been suspecting - that Israel is preparing for a bombing raid on Iran's alleged nuclear facilities. According to Bloomberg and the New York Times , around 100 Israeli aircraft took part in a full-scale training exercise in early June. The distance it...
    Posted to ICIS Blogs (Weblog) by Anonymous on 06-24-2008

  • OPEC suggests $200/bbl oil

    OPEC used to believe that its fortunes were tied to the health of the global economy. But as I noted last month , its current policy is more reminiscent of ‘the difficult times of 1973/4 and 1989.80’. The evidence for this statement is mounting. Saudi Oil Minister, Ali Naimi, said recently that the Kingdom...
    Posted to ICIS Blogs (Weblog) by Anonymous on 04-30-2008

  • Traders sell $, buy oil

    ‘ 'A vicious circle now seems to be in place again, where a lower dollar inspires raw material prices to rally, which in turn increases worries about inflation’. This was how strategists at BNP Paribas summed up the US Fed Chairman’s two days of testimony to Congress last week. For the last 20 years...
    Posted to ICIS Blogs (Weblog) by Anonymous on 03-02-2008

  • BASF – the oil and gas company

    BASF Chairman Jürgen Hambrecht sounded confident last week, following their annual results . 2007 sales were €58bn (up 10% on 2006), and income from operations was €7.3bn (up 8%). However, Q4 saw sales up just 1.6% at €14.7bn, and income actually down 3.4% at €1.6bn. The main culprit in Q4 was chemicals...
    Posted to ICIS Blogs (Weblog) by Anonymous on 02-24-2008

  • 4 issues driving today’s oil price

    Quietly, oil has moved back to the $100/bbl level . This is quite different from January, when it first hit the magic $100/bbl number. Financial players had jumped on the trend from November as crude rose above $80/bbl, and then wanted to ‘get out at the top’. Their thinking was that a US recession would...
    Posted to ICIS Blogs (Weblog) by Anonymous on 02-21-2008
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