NEW YORK: Oil prices smashed through $100 a barrel Monday for the first time since the 2008 economic crisis, as traders worried that unrest in Egypt could disrupt oil flows through the Suez Canal. Oil prices surged to $101 a barrel for London's main Brent North Sea crude contract, as protesters gathered for a seventh straight day amid threats of a general strike. Egypt is not a major oil producer, but is home to the vitally important Suez Canal, which carries around 2.4 million barrels of oil a day -- roughly equivalent to the daily output of Iraq or Brazil. Egyptian authorities insist the canal is still working at full capacity, but unrest has caused major shipping giants such as AP Moller-Maersk to halt operations in the country. The threat of delays have prompted some normally reticent oil industry honchos to sound the alarm. OPEC secretary-general Abdalla Salem El-Badri warned "there could be a real shortage" of crude oil passing through Suez. While stressing that the market was still well supplied, El-Badri said "if we see a real shortage, we will need to act." | ||
 |
Tuesday, February 1, 2011
Oil Hits $101 a Barrel as Egypt protests Mount
Subscribe to:
Post Comments (Atom)
I'M NOW FULFILL FINANCIALLY BECAUSE OF THE LOAN I GOT FROM LFDS .I would like to bring this to the notice of the public about how i came in contact with Mr Benjamin after i lost my job and being denied loan by my bank and other financial institution due to my credit score. I could not pay my children's fees. I was behind on bills, about to be thrown out of the house due to my inability to pay my rent, It was during this period my kids were taken from me by foster care. Then i set out to seek for funds online where i lost $3,670 that i borrowed from friends which i was rip off by two online loan companies. Until i read about:loan online (247officedept@gmail.com) somewhere on the internet, Still wasn't convince because of what i have been through until a relative of mine who is a clergy also told me about the ongoing loan scheme at a very low interest rate of 1.9%% and lovely repayment terms without penalty for default of payment. I have no choice than to also contact them which i did through text +1-989-394-3740 and Mr Benjamin responded back to me That day was the I'M best and greatest day of my life which can never be forgotten when i receive a credit alert of $400,000.00 Usd loan amount i applied for. I utilized the loan effectively to pay up my debts and to start up a business and today i and my kids are so happy and fulfill. You can as well contact them through email: (247officedept@gmail.com) WhatsApptext helpline: +1-989-394-3740 Why am i doing this? I am doing this to save as many that are in need of a loan not to be victim of scams on the internet. Thanks and God bless you all, I'm Oleksander Artem from Horizon Park BC , Ukrain.
ReplyDelete