The head of Germany’s financial regulator is warning that US subprime mortgage problems may be about to lead to the worst banking crisis since 1931. Yesterday, WTI crude broke through its 1980’s highs to hit a new all-time record price of $78.77/bbl, and looks poised to push on past $80/bbl. And adding to the sense […]
Chemicals and the Economy
Oil prices and the euro
The US dollar has been falling steadily in recent weeks. It is particularly weak against the euro, having fallen almost 5% since January. OPEC countries buy much more from the eurozone than from the US, and the OPEC President has said they are ‘concerned’ about dollar weakness. We probably need to start monitoring oil prices […]
2008 Budgets just became more difficult to finalise
Central bankers are like generals. They seem to prefer fighting their last war, rather than preparing for the next one. How else to explain their continued reluctance to recognise that higher food and energy prices are here to stay? As a result, interest rates now need to rise more than expected. Pity those who have […]
‘Its the price that matters’: Wal-Mart and Tesco signal a major change in consumer priorities
Consumer attitudes have shifted sharply in recent weeks. This could have big implications for chemical companies, and they need to respond quickly.
What price oil?
Crude oil prices are climbing again. $100/bbl is not impossible, if current geo-political concerns continue. And today’s tightly balanced market could persist to 2010.
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