AubreyJ’s Latest Energy Update Report
Oil Surges To Near $90 A Barrel As Egyptian Anti-Government Protests Spark Concerns Over Waning Regional Stability - Should Violence Spread Over Into Saudi Arabia, $200 A Barrel For Crude BIG Possibility
Friday, January 28, 2011
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People in Egypt have defied a government curfew imposed nationwide.
Read the story behind the photo at link below...
Image Credit: PressTV.ir
Yes... Iran is surely LOVING all of this and will do all it can to fill any void
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With anti-government protests in Egypt
sparking concerns this morning over regional stability... Crude oil prices spiked Friday, having increased by more than 4% and reaching near $90 a barrel, ($89.65) before retreating in early afternoon trading. OUCH!
sparking concerns this morning over regional stability... Crude oil prices spiked Friday, having increased by more than 4% and reaching near $90 a barrel, ($89.65) before retreating in early afternoon trading. OUCH!..................................................................
- Here are just a few troubling reports I ran down today -
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* The Wall Street Journal has the following report posted up on their website today and it starts off like this... Tanker stocks surged Friday as investors speculated that the civil unrest in Egypt could lead to a shutdown of the Suez Canal, an incident that would likely spark a sharp uptick in demand for ships... The Suez Canal is a key transit point for oil and fuel shipments from the Persian Gulf to the Western Hemisphere, and a closure there would mean ships would have to travel around the southern tip of Africa instead, adding thousands of miles to their journeys, and likely tightening shipping capacity... There doesn't appear to be any solid indication the canal is in danger of shutting down, but it's seen as a possibility as protestors rallied in the streets of Egypt for the fourth straight day against President Hosni Mubarak...
Read the full report at link below...
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* Bloomberg.com reposts it this way... Trading of bullish options on an exchange-traded fund tracking crude futures soared to a record as oil surged the most since September 2009 after unrest in Egypt raised concern that protests would spread to major oil- producing parts of the Middle East...
Read the rest at link below...
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About this News Video: President Barack Obama, former U.S. president Bill Clinton and Egyptian government opponent Mohamed ElBaradei talk about the clashes on the streets of Cairo demanding the end of President Hosni Mubarak's regime. This report also includes comment from former United Nations Secretary General Kofi Annan, Organization of Economic Cooperation and Development Secretary General Angel Gurria, International Monetary Fund Middle East Adviser Masood Ahmed and Bahraini banker Khalid Abdulla-Janahi. This report contains some video provided by APTN.
Source: Bloomberg
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'Cairo Is a War Zone'
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AubreyJ.........
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