One of London’s oldest and most respected financial institutions projects “catastrophic consequences” if businesses fail to prepare for the phenomenon called peak oil. Along with the Royal Institute of International Affairs, also called Chatham House, Lloyd’s of London issued a white paper entitled “Sustainable energy security: strategic risks and opportunities for business.” In the white… Read more.
In a sign that could have ramifications for global markets in both equities and commodities, Chinese property prices fell in June, the Financial Times reported on Monday. After 18 months of sometimes steady, sometimes meteoric rises, the average price of housing in 70 major cities fell slightly, by 0.1 percent. The Chinese government has been… Read more.
After a strongly positive day of trading in global equity markets, crude oil broke a seven-day losing streak as some signals pointed towards recovery in the U.S. economy. Retail sales were one of the primary drivers of positive sentiment on Wednesday, as the International Council of Shopping Centers said that sales hit their best rates… Read more.
As China pours some cold water on its economy to prevent overheating, the prices of raw materials are falling along with Chinese stocks. West Texas Intermediate light, sweet crude oil futures fell 4.33 percent to $72.49 per barrel at 11 a.m. EST. Copper futures, closely tied to industrial consumption and economic growth, fell 2.36 percent… Read more.
The price of crude oil futures fell on Wednesday, despite the hurricane bearing down on the Gulf of Mexico. West Texas Intermediate light, sweet crude oil futures fell .40 percent to $75.63 per barrel. President Barack Obama declared a state of emergency in Texas, while BP, Royal Dutch Shell, ConocoPhillips and Exxon Mobil evacuated workers… Read more.
The price of crude oil futures surged on Friday despite weak GDP figures that undermined investor confidence in the pace of economic recovery. The ICE West Texas Intermediate Light Sweet crude oil futures contract for September delivery rose 2.66 percent to $79.26 in London trading. Stocks and stock index futures moved in a relatively tight… Read more.
Crude oil futures sank today as concerns over housing and jobs depressed hopes for a recovering economy. The WTI Light Sweet crude oil futures fell by 2.7 percent to $76.59 per barrel. A monthly report released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development showed that after the expiration… Read more.
The former Chairman of the Federal Reserve warned markets and officials of the dangers of the national debt in a Wall Street Journal op-ed Friday. Greenspan said that even with debt soaring almost $3 trillion in the last 18 months, investors and the administration seem curiously unconcerned with the danger of borrowing. Greenspan compared the… Read more.
The price of crude oil futures fell Thursday as traders registered their concern that a possible glut in supply might occur in the near future, reported the Dow Jones Newswires. The cost of a barrel of light, sweet crude oil for delivery in July dropped to $76.92 barrel, down about 1 percent. Data from the… Read more.
The U.S. Commerce Department revealed that retail spending for the month of May fell by 1.2 percent, pushing U.S. stock market futures lower, though they began to recover as the day moved forward. Traders feared that the weak retail data undercut hopes for economic recovery, since most experts agree that around 70 percent of economic… Read more.