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Big Oil companies look at permanent US refinery cutbacks
The response to slumping gasoline use would likely mean higher prices at the pump for drivers.
Some of the USA’s Big Oil companies are looking to permanently reducing how much gasoline and diesel fuel they make, a move that analysts say would likely trigger higher prices for motorists.
The Energy companies are suffering huge losses from [...]
Asia to Post Losses, Bargains on Offer
Most Asian Exchanges will post losses today after another sideways night in the USA. Many exchanges across Asia started to drift yesterday afternoon and today that direction will continue. Bangkok rallied in defiance of the political protests.
In Hong Kong, the Hang Seng Index ended in positive territory with a marginal gain of 19.91 points, or [...]
Japan Improving
Japan’s current accounts balance in Black for 12th straight month in January
Japan posted a current account** surplus of 899.8 billion yen (US$9.9B) in January, the Ministry of Finance (MOF) said in a preliminary report Monday.
January’s figures, which mark the 12 th consecutive month the current account has stayed in the Black, compare to a [...]
Kia Motors’ global sales jump 39.5% in February
Kia Motors Corp., South Korea’s 2nd largest automaker, had a year-on-year global sales increase of 39.5% in February this year, selling a total of 143,267 vehicles, the company said Thursday.
The sales increase in February was a result of Kia’s double- digit year-on-year sales growth in all regions: it gained 128.6% in China with 25,435 units [...]
Ebeling Heffernan Issue Strong Buy on Citibank
Vikram Pandit, Citigroup’s chief executive, is planning to announce to the shareholders that the prospect of the Bank earning as much as US$20B from its core business within a few years is in sight, this is a big increase from current levels that would mark a sharp revival in Citi’s fortunes. This according to the [...]
Today on Crude Oil
The Crude Oil price rallied after the release of the Bullish inventory report.
The Crude Oil front-month contract rose to as high as 83.03, less than 1$ below the Y 2010 high of 83.95 hit in January, before closing at 82.09, up +0.7%.
Today in Asia, Black Gold slid to 81.55 on profit taking and [...]
This Week on Gold
Gold dipped to 1108.2 but support came in from the near term rising trend-line and it recovered nicely. With the 4 hours MACD crossed above signal line, the retreat from the 1145.8 level may now be complete.
Bias has flipped back to the Northside for retesting 1145.8 now. A break thru that level will bring [...]
Big Oil looks at US Refinery Cutbacks
The response to slumping gasoline use would likely mean higher prices at the pump for drivers.
Some of the USA’s Big Oil companies are looking to permanently reducing how much gasoline and diesel fuel they make, a move that analysts say would likely trigger higher prices for motorists.
The Energy companies are suffering huge losses from refining [...]
Asia in for Another Flat Day, Afternoon Drift Expected
No direction over night in the USA and having been flat for a few days we will probably drift lower, Thailand was surprisingly bouyant today as investors snapped up bargains on the eve of the political protests.
The SET index closed yesterday at 720.84, up 2.07, in thin trade worth 12.8 billion baht. For the year [...]
Wall St Inches Higher
Dow 10,567.33 +2.95 (0.03%)
S&P 500 1,145.61 +5.17 (0.45%)
Nasdaq 2,358.95 +18.27 (0.78%)
US stocks continued modest gains on Wednesday, a stronger rally was tempered by the US government’s report of a drop in company inventories during January.
The Commerce Department said wholesale inventories fell 0.2 per cent in January after falling one per cent in December.But company sales [...]
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