Laptop Battery Oil prices dropped 2 percent yesterday after Iraq said it would resume crude exports tomorrow, ending a monthlong sales hiatus that was enacted to protest Israeli incursions into Palestinian territory. U.S. light crude fell 54 cents, to $26.08 per barrel, as Iraq, the sixth- largest crude supplier to the United States, called off a self-imposed embargo on its 2 million barrels per day of crude exports -- some 4 percent of internationally traded oil.
Prices Rise By VOA News U.S. oil prices rose in early New York trading after saboteurs forced Iraq to stop shipments from its largest oil export facility. Visit our AXcess News Forum and add your comments on this story. Try your hand at writing, the best story will be published on our news network. Take our business poll too! Print This Page June 15, 2004 (AXcess News) U.S. oil prices rose in early New York trading after saboteurs forced Iraq to stop shipments from its largest oil export facility.
Thinkpad Iraq's return to world markets, coupled with a lull in hostilities between Israelis and Palestinians, appears to have capped an oil rally that added 30 percent to crude's value since the start of the year.
Then the Arab oil embargo came – and Houston’s economy exploded as oil prices quadrupled in 90 days.
Microsoft "Short of a major supply dislocation, the nearer term markets have likely topped out," said Michael Rothman of Merrill Lynch.
Iraq was allowed to export limited amounts of oil in exchange for food, medicine, and some infrastructure spare parts.
Laptop Computers Oil prices are now more than $2 below six-month highs struck a month ago on fears that rising Middle East violence could upset supplies from the region, which pumps a third of the world's oil.
Jordan's export market, which is heavily dependent on exports to Iraq, was also affected by the war but recovered quickly while contributing to the Iraq recovery effort.
Laptop Computer Stiff supply cuts imposed by the OPEC cartel since January have fueled this year's rally, and fostered concern over the effect of rising energy costs on a fragile economic recovery.
In addition, as the Software is identified as export controlled items under the Export Laws, you represent and warrant that you are not a citizen, or otherwise located within, an embargoed nation (including without limitation Cuba, Iran, Iraq, Libya, North Korea, Syria, Lebanon or the Sudan) and that you are not otherwise prohibited under the Export Laws from receiving the Software.
Desktop Computer Iraq's embargo pulled total production by the 11-member Organization of Petroleum Exporting Countries down 1.42 million barrels a day in April, to 24.18 million, according to a Reuters survey.
Notebooks Before its April 8 export halt, Iraq was supplying two-thirds of its crude to the United States, the world's top oil consumer. But the embargo had yet to cut into U.S. fuel stockpiles, which are at surpluses compared with a year ago.
Lenovo U.S. inventory figures due out Tuesday are expected to show a modest fall in crude oil stocks and mild builds in refined product supplies.
Hard Drive OPEC meets June 26, and some ministers have signaled they will not ease production curbs, which have cut the group's output to the lowest in a decade.
Travelstar "I am convinced there is more supply than the market needs," Qatari Oil Minister Abdullah al-Attiyah said. "There is no question of OPEC increasing production in June."
Gateway The U.S. Energy Information Administration, a government agency, warned yesterday that unless OPEC raises production from June, oil prices will rise sharply.
Laptop Parts Despite looming higher fuel demand from vacationers, U.S. pump prices are 30 cents below last year, when a supply crunch before summer caused a record spike.
Software The national average for regular unleaded gasoline eased about a third of a cent to $1.42 a gallon in the two weeks ended May 3, according to the Lundberg survey of national service stations.
Hard Drives By Andrew Mitchell
Reuters - 5/7/2002
Topic: Petroleum Industry
[ Comment, Edit or Article Submission ]
