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Oil Rises a Second Day as Dollar Weakens
10-26-10

 

Oil gained for a second day as gilets moncler foi investors bought contracts against a weakening dollar and Hurricane Richard headed for the Gulf of Mexico, home to 31 percent of U.S. crude production. Futures advanced as much as 1.2 percent as the dollar depreciated against all but one of iassing over the Central American nation of Belize, nouveaux moncler the U.S. National Hurricane Center said. "It's general dollar weakness that's impacting crude," Jonathan Barratt, managing director of Commodity Broking Services Pty in Sydney, said in an interview. "Investors will also start to build in a bit of a premium as a result of the hurricane." The December contract rose as much as 97 cents to $82.66 a barrel in electronic trading on the New York Mercantile Exchange, and was at $82.63 at 2:01 p.m. Singapore time. It climbed 1.4 percent bottes de moncler to $81.69 on Oct. 22. Prices increased 0.5 percent last week and are up 3.9 percent this year. G-20 officials, who ended talks in South Korea on Oct. 23, pledged to refrain from "competitive devaluation" and to let markets set foreign-exchange values. The dollar fell as much as 0.8 percent to $1.4060 a euro, from $1.3954 on Oct. 22. "What'moncler bottes à la vente s really driving up the oil price today is the dollar," Victor Shum, a senior principal at consultants Purvin & Gertz Inc. in Singapore, said. "There are other factors that are supportive like the ongoing strikes in France. It looks like France now will have to import fuels." Refineries Close Industrial action ges, which began at the port of Marseille on Sept. 27, may have cut gasoline production by about 300,000 barrels a day, according to Credit Agricole raquettes à neige moncler CIB. One quarter of France's service stations faced supply disruptions and fuel shortages will worsen today, according to union officials.Hedge-fund managers and other large speculators decreased their net-long position in New York crude-oil futures in the week ended Oct. 19, the Commodity Futures Tradi by 163,641 futures, the Washington-based regulator said in its weekly Commitments of Traders report. Net long positions fell by 15,097 contracts, or 8.5 percent, from a weekdoudoune moncler pas cher earlier. "We didn't supply much" yesterday "so the situation will be more difficult for everyone," Jean-Louis Schilansky, head of the refiners' group Union Francaise des Industries Petrolieres told Agence France-Presse yesterday. French imports of fuel rose to 100,000 tons a day from an average 20,000 to 25,000 tons in normal days, Schilansky doudoune moncler prix said Oct. 23. Gulf of Mexico Hurricane Richard, with maximum sustained winds near 90 miles per hour (145 kilometers per hour) wnge. The contract gained $1.13, or 1.4 percent, to $82.96 on Oct. 22. "The G-20 agreement is interpreted by the market as a green light for the U.S. to devalue the dollar," Purvin & Gertz's Shum said in an interview. "The inverse relationship between oil prices and the dollar is likely to continue." Crude moncler blouson may decline this week, according to a Bloomberg survey of 30 analysts. Fourteen of 30 respondents, or 47 percent, forecast prices will fall through Oct. 29. Eleven economists predicted prices will be little changed and five estimated an increase. And if absentee ballots are any ou acheter doudoune moncler indication, it looks like it could be a good turnout.As of Friday, the county Registrar- Recorder's Office reported that the number of vote-by-mail returns is double that in the 2006 gubernatorial election.Of the 1.09 million absen U.S. Election Project has released doudoune moncler rabais figures showing that 9.6 percent of registered voters in California already have cast their ballots.Professor Michael McDonald at George Mason University cautioned the numbers could change dramatically over the next week."My guess is we won't have a real clear picture in California (until) we get closer to the election," McDonald said.To transit activist Bob Rosebrock, there is nothing more frustrating than an empty car-pool lane - except the traffic disruptions that occur when the HOV lanes are being built.Rosebrock argues that car-pool lanes - like those taking shape on the 405 Freeway - discriminate against solo drivers who do not drive an exempt fuel-efficient vehicle. He also claims the lanes violate the U.S. Constitution'sdoudoune imitation moncler principle of "equal opportunity for all and special privileges for none."SA

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