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Market Journal 2010 P

  • 10/25/2010 -- Late-month crude prices whipsawed
    October started with promise as the November crude contract climbed to a near 8-week high of $81.58/bbl Oct. 1 on the New York Mercantile Exchange when positive consumer spending data diminished fear of a double-dip recession.
  • 11/01/2010 -- Oil traded 'sideways' in October
    Despite breaking above $80/bbl, oil price movements mostly traded sideways in late October.
  • 11/08/2010 -- Fed plan rallies oil prices
    The December crude contract climbed 0.9% Nov. 3 in the New York Mercantile Exchange when Federal Reserve Chairman Ben Bernanke announced plans to buy $600 billion of Treasuries over the next 8 months to stimulate the US economy, triggering a sharp drop in the US dollar.
  • 11/15/2010 -- G20 failure drags down oil prices
    Crude prices, US stock markets, and corporate energy stocks fell Nov. 12 as the Group of 20 (G20) major world economies refused to back a US effort to get China to raise the value of its currency.
  • 11/22/2010 -- The loaning of the green
    The December crude contract jumped 1.8% to $81.85/bbl Nov. 18 in New York on the imminent bailout of the Irish banking system by the European Union and the International Monetary Fund.
  • 11/29/2010 -- No joy in troubled oil patch
    It’s the holiday season—a time to be jolly and to look back at the accomplishments of the past year. But there’s been no joy in the oil patch since Apr. 20 when the deepwater Macondo well blew out in the Gulf of Mexico, sank the Deepwater Horizon semisubmersible rig, and for all practical purposes pulled the US offshore drilling industry down with it.
  • 12/06/2010 -- Crude prices peak in December
    Crude oil prices hit their highest peaks so far this year in early December, with West Texas Intermediate at a 25-month high and North Sea Brent above the “psychologically important” $90/bbl.
  • 12/20/2010 -- Oil to top $100/bbl again
    As Edmund Burke, British statesman and philosopher, famously said, “Those who do not learn from history are destined to repeat it.” Now, industry analysts are forecasting oil will again top $100/bbl in 2011.
  • 12/27/2010 -- 2011 to be 'Year of the USA'
    Jim O’Neill, chairman of asset management at Goldman Sachs Group Inc., predicted the Standard & Poor’s 500 index will continue its vigorous growth, climbing as much as 20% in 2011.
  • 03/01/2010 -- US oil production climbs
    Unlike most producers outside the Organization of Petroleum Exporting Countries, the US “put up remarkably strong oil production growth of 7.1% in 2009” after “a nearly nonstop decline” for the past 3 decades, said analysts in the Houston office of Raymond James & Associates Inc.
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