Get used to it because this is the shape of things to come. That seemed to be the stark message from energy traders in the U.S. as the oil price reached a new high... and consumer confidence a 28 year low. Oil prices edged towards 129 dollars a barrel damaging U.S. stocks and the dollar. SOUNDBITE: Ray Carbone, energy trader, Paramount Options, saying: (English) "We're looking at a finite resource and we're looking at an unlimited demand potential, so I think over time we're going to see a volatile market with substantial pullbacks as we saw yesterday, but those are probably buying opportunities. I agree, we're going up. I think we are going a lot higher than we are now. It's just a question of how quickly, and that's going to be determined by many things including the weather as we go later into this season in the hurricane season." Petrol prices have also surged and many analysts expect prices to rise further as the summer driving season nears. And that's had a knock on...
Brown said: "This crisis demonstrates beyond doubt that a global capital market requires much stronger global cooperation and supervision. And we need to ensure that we have an effective global...
Commuters had an unpleasant surprise Wednesday morning as prices at the gas pumps spiked as high as $1.20 a litre in response to high oil prices. Gas prices soared on average to $1.10 a litre...
Asia stocks dropped for a fourth consecutive session on Wednesday with sky high oil prices and inflation woes punishing markets across the region. Japan's Nikkei fell 1.3 percent (13,286 ) with...
Venezuela's President Hugo Chavez arrives in Iran with a blunt warning to Washington: - more aggression in the Middle East will drive oil prices through the roof. Chavez arrived in Tehran on the...
High fuel and food prices sparked a pick-up in German inflation in May, stoking euro zone price pressures and strengthened the case for a rise in interest rates by the European Central Bank. ///...
Asia stocks slid on Monday with investors worried about rising inflation and sluggish U.S. economic growth. Japan's benchmark Nikkei fell 2.3 percent (13,690) its biggest fall in six weeks....
Oil prices surged nearly $5 to a record near $134 a barrel on Wednesday (May 21) after a U.S. government report showed a surprise drop in crude stockpiles, reinvigorating fears of a supply crunch....
A bit of a bounce for battered stock markets. Asian shares were cautiously higher on Monday after G-7 officials took steps to repair the world's broken financial system. Many nations agreed to...
European shares hit their lowest level since March 31 (2008) as leading U.S. stock market indexes fell in early trading. Royal Bank of Scotland lost 9.7 percent after saying results would be held...
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