Source Pravda.Ru

Energy market`s psychology

The price of oil gyrated on Thursday after the U.S. government released data that showed a growing domestic supply of &to=http:// english.pravda.ru/comp/2002/06/10/30018.html ' target=_blank>gasoline and other fuels, but also rising demand.

By midday, July light sweet crude futures traded 45 cents lower at $54.15 on the New York Mercantile Exchange, where prices had risen as high as $55.40 earlier in the day.

Oil analyst Marshall Steeves at brokerage &to=http:// english.pravda.ru/comp/2002/06/10/30018.html ' target=_blank>Refco Group Inc. in New York said "schizophrenic is a very good word" to describe the energy market's psychology these days.

Just a few weeks ago prices had fallen below $47 a barrel on signs of slower economic growth and rising petroleum inventories worldwide. Now traders seem consumed once again by fears of potential supply tightness later in the year, informs the Business Week.

According to Reuters, U.S. distillate demand growth is running at more than 3 percent this year, outpacing gasoline or crude, due in part to higher diesel use from truckers moving Chinese products to market from the West Coast, and rising jet fuel consumption from airlines.

Dealers said continued strong demand growth in Europe, where diesel-powered cars are dominating market share, and from China's power sector was also keeping the distillates squarely in the spotlight.

On December 10, 1948 the Universal Declaration of Human Rights was adopted by the United Nations General Assembly, its thirty articles enshrining basic and fundamental rights guaranteeing dignity of the human person and equality for all, regardless of race, color, creed or gender. A pipe dream?

Human Rights Day: Let us hang our heads in shame
Comments
Russian general says allegations of his involvement in MH17 crash are stupid
Pentagon can not accept Russia's victory over terrorists in Syria
Human Rights Day: Let us hang our heads in shame
USA looking for reason to see nuclear weapons in action
USA looking for reason to see nuclear weapons in action
Israel refuses to recognise Crimea part of Ukraine
Russian general says allegations of his involvement in MH17 crash are stupid
USA looking for reason to see nuclear weapons in action
USA looking for reason to see nuclear weapons in action
USA looking for reason to see nuclear weapons in action
USA looking for reason to see nuclear weapons in action
USA looking for reason to see nuclear weapons in action
USA looking for reason to see nuclear weapons in action
USA looking for reason to see nuclear weapons in action
Turkish President Erdogan issues ultimatum to Washington and Brussels
Russian general says allegations of his involvement in MH17 crash are stupid
Putin makes first comment on Trump's Jerusalem decision
Turkish President Erdogan issues ultimatum to Washington and Brussels
Putin makes first comment on Trump's Jerusalem decision
Putin makes first comment on Trump's Jerusalem decision
Elon Musk sells old ideas to NASA under the guise of unprecedented innovations