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Thursday, March 27, 2008

Thursday Charts and News

Sorry I'm running a bit late, here ya go ...

Crude oil surges after Basra pipeline bombing The price of crude oil surged this morning after saboteurs bombed one of Iraq's main oil pipelines in what was feared to be a backlash attack by powerful Shia Muslim militias. The attack is being seen as an act of retaliation for the Government's campaign to crack down on the Shia private armies, many of them Iranian-backed, which have exerted a powerful and violent influence over the south and centre of Iraq.

Dollar Strengthens Against Euro as U.S. Consumer Spending Beats Forecast The dollar rose against the euro, after the biggest two-day drop since January 2001, as a report showed fourth-quarter consumer spending rose more than forecast.Gold, Silver Futures Fall in New York After Dollar Rebounds Against Euro Gold fell in New York after the dollar rebounded against the euro. Silver also declined.

Greenland Thaw May Replace Dog Sleds With Oil Drills as Exploration Rises In Greenland, locals hunt reindeer for food and use dog sleds to traverse the ice sheet. Soon they may be working on offshore rigs and counting their money.

Chinese Stocks Drop to Eight-Month Low on Concern Profit Growth Will Slow China's stock index fell to the lowest in more than eight months, led by Baoshan Iron & Steel Co. after its profit dropped because of higher raw-material costs.

Gulf Arabs to Own Assets Valued $3.8 Trillion by 2012, Oliver Wyman Says Wealthy Persian Gulf Arabs will boost their collective assets 81 percent to $3.8 trillion by 2012, according to research by a unit of Marsh & McLennan Cos., the world's largest insurance brokerage.
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