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Oil Breaks All Time Record As It Soars Past $71

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http://www.iii.co.uk/news/?type=afxnews&ar...&action=article

LONDON (AFX) - Oil prices set a new record of 71.40 usd a barrel Monday on worries about falling US gasoline stocks and the possibility of attacks by Washington against Iranian nuclear facilities, dealers said.

By Friday of this week? Will it break the $100 barrier before summer?

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http://www.iii.co.uk/news/?type=afxnews&ar...&action=article

LONDON (AFX) - Oil prices set a new record of 71.40 usd a barrel Monday on worries about falling US gasoline stocks and the possibility of attacks by Washington against Iranian nuclear facilities, dealers said.

By Friday of this week? Will it break the $100 barrier before summer?

Great! A recession. Lower interest rates.

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Great! A recession. Lower interest rates.

Hopefully! In the last 2 HPCs oil played a helpful role in lowering house prices sharply and enabling those who waited to get back in cheaply and with lower rates to boot. A win-win scenario does indeed look to be on the horizon. Lets keep our fingers crossed it pans out that way. Patience willl be key as higher rates will still have to be dealt with initially and the double whammy of IR and faltering economy should have the right effect on inflated assets such as housing. <_<

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http://www.iii.co.uk/news/?type=afxnews&ar...&action=article

LONDON (AFX) - Oil prices set a new record of 71.40 usd a barrel Monday on worries about falling US gasoline stocks and the possibility of attacks by Washington against Iranian nuclear facilities, dealers said.

By Friday of this week? Will it break the $100 barrier before summer?

They are pretty stupid if they think they are going to blow up a nuclear reactor with a bomb. Duh!

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The effects are already being felt around the global village.

Indonesia wants OPEC to pump more to lower oil price

http://money.inq7.net/breakingnews/view_br...4&dd=17&file=20

Eritrea blames power cuts on supplier’s shortage of oil

http://www.sudantribune.com/article...._article=14816

BPC rationing diesel as stock plummets

http://nation.ittefaq.com/artman/pub...le_26893.shtml

DATA CENTERS: Powering Down

http://www.cio.com/archive/041506/energy.html

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Great! A recession. Lower interest rates.

...recessions don't always bring lower IR's!!!!!!

...look on the global scale.

in the 1990's pretty much every country bar US/UK had below-trend growth.

the consumer in the west kept the global economy(just about) going.

this time is different....(hic!)

the global economy no longer needs the support of US/UK consumers.....there's a new breed of westernised asians wanting IPOD'S and mobile phones.

....US AND UK ARE BEING PUT OUT TO PASTURE FOR A DECADE.....but globally consumerism will rise....and as such commodities will too,from oil to fancy starbucks coffee in bankok.

we can look forward to 15 years or so of rising IR's!!!!!!!!(starting in 2002!)......4.5% here is just the beginning!

...look for 8% by 2012!

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...recessions don't always bring lower IR's!!!!!!

...look on the global scale.

in the 1990's pretty much every country bar US/UK had below-trend growth.

the consumer in the west kept the global economy(just about) going.

this time is different....(hic!)

the global economy no longer needs the support of US/UK consumers.....there's a new breed of westernised asians wanting IPOD'S and mobile phones.

....US AND UK ARE BEING PUT OUT TO PASTURE FOR A DECADE.....but globally consumerism will rise....and as such commodities will too,from oil to fancy starbucks coffee in bankok.

we can look forward to 15 years or so of rising IR's!!!!!!!!(starting in 2002!)......4.5% here is just the beginning!

...look for 8% by 2012!

Good point. I think what is happening is shifting to Asia where the new money is being generated. India will be outsourcing to the UK in 5 years--just wait! China's GDP is 10.2% and Japan is just getting warmed up with a projected 5.4% growth in GDP.

And where is the UK? 1% growth in GDP (real numbers)? We are losing jobs, can't fund the NHS and have nothing to show for the past 10 years of NuLabour other than high house prices and a massive amount of debt. Yes, we will see some high IR in the near future because there must be a balance and those that do not produce have to pay for what they buy through higher rates.

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Gold has also gone mental today. The US has been hurriedly munching through record oil inventory stocks and the summer driving season hasn't even started yet, OPEC is blatantly underproducing on its quotas and looks unable to pump any faster. Should be an interesting summer.

Gold, Silver Futures Hit New Highs

© 2006 The Associated Press

NEW YORK — Gold and silver futures soared Monday to their strongest levels in more than two decades, boosted by geopolitical concerns and a sharply softer U.S. dollar.

June gold hit a contract high of $619.50 an ounce on the Comex division of the New York Mercantile exchange, its strongest level since late 1980. It settled with a gain of $18.70 at $618.80 an ounce.

May silver peaked at $13.38 an ounce, the metal's strongest level since 1983. It settled up 51 cents at $13.365 an ounce.

"There are many upward pressures on gold that continue to take it higher, like the deficit, the weakness of the dollar and additional Iran threats. The path of least resistance is up," says George Gero, vice president with RBC Capital Markets Global Futures.

Several traders cited ongoing concerns about Iran's nuclear program and concerns about whether the United States would launch an attack. Iran has said it would go ahead with plans to enrich uranium, defying the United States, Europe and United Nations nuclear experts. Iran has said its nuclear ambitions are peaceful, but Western countries fears it plans to arm itself with nuclear weapons.

Also pushing up gold prices Monday, the dollar tumbled after reports that China could reduce its buying of U.S. Treasury products.

There was also speculation that the Federal Reserve may finish its rate-increase cycle sooner than expected.

As gold was closing Monday, the euro had risen to $1.2269 from $1.2110 late Friday.

A weaker dollar tends to push gold higher because gold, denominated in the dollar, is regarded as an alternative investment to the U.S. currency.

Also, May crude oil was up 68 cents to $70 a barrel in afternoon trading on the Nymex. Stronger energy prices usually support precious metals.

Bernard Hunter, director of precious metals at Scotia Mocatta, also cited geopolitical concerns, but added that some physical buying has emerged in India as participants get used to $600 gold and perhaps stop waiting for a pullback to present a buying opportunity.

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They are pretty stupid if they think they are going to blow up a nuclear reactor with a bomb. Duh!

Possibly I'm mistaken but didn't the Israeli air force blow up a reactor at Osirak?

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Possibly I'm mistaken but didn't the Israeli air force blow up a reactor at Osirak?

It wasn't loaded with fuel IIRC. There is a huge difference between blowing up gas centrifuges and reprocessing plants and blowing up hot reactors.

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It wasn't loaded with fuel IIRC. There is a huge difference between blowing up gas centrifuges and reprocessing plants and blowing up hot reactors.

Ok thanks. Now you put it like that I can see there would be!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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