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Nairaland Forum / Nairaland / General / Business / Oil Prices Rise Further As Dollar Drops (42432 Views)
Naira Extends Gains As Dollar Glut Hits Market / Dollar Drops Below N400/$ For First Time In Seven Months / Naira Set To Rise Further This Week (2) (3) (4)
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Oil Prices Rise Further As Dollar Drops by solarview(m): 9:37am On May 02, 2015 |
Oil prices rose again Thursday on data suggesting the US crude glut is easing as the dollar weakened against the euro. US benchmark West Texas Intermediate for June delivery rose $1.05 to $59.63 a barrel on the New York Mercantile Exchange. European benchmark Brent oil for June delivery gained 94 cents to $66.78 a barrel in London. Analysts said the oil market continued to react to Wednesday’s US Department of Energy inventory report, which showed a 500,000 barrel drop in petroleum stocks to 61.7 million barrels at the key Cushing, Oklahoma trading hub. While the decline was modest, it marked the first drop since late November. Traders are taking the decline as a sign producers are cutting back at key US petroleum sites, such as the Bakken region in North Dakota, analysts said. “The oil price ‘wants’ to rise – this is the impression one is bound to gain if one looks at the events that have taken place on the oil market in recent weeks,” Commerzbank said. “Certainly market participants are paying more attention and responding more to the ‘positive’ rather than to the ‘negative’ reports.” Oil prices were given an additional upward push by the retreat in the dollar against the euro and some other currencies following Wednesday’s US economic report showing growth of just 0.2 percent in the first quarter. A Fed statement Wednesday left open the timing of an increase as it waits for more signs of economic progress. A weak dollar encourages consumption of crude and other dollar-denominated commodities outside the US. http://www.vanguardngr.com/2015/04/oil-prices-rise-further-as-dollar-drops/ 3 Likes |
Re: Oil Prices Rise Further As Dollar Drops by solarview(m): 9:39am On May 02, 2015 |
Dollars inversely proportional to oil Price 10 Likes 1 Share |
Re: Oil Prices Rise Further As Dollar Drops by Nobody: 9:40am On May 02, 2015 |
That's good news.. let the price rise so that $1 will be equal to #1... 30 Likes 1 Share |
Re: Oil Prices Rise Further As Dollar Drops by Godfullsam(m): 9:43am On May 02, 2015 |
Good development This is the CHANGE we want . Dollar must fall by fire by FORCE I see one dollar equals one naira before 2019 So help me God 46 Likes 1 Share |
Re: Oil Prices Rise Further As Dollar Drops by AhmedMustapha(m): 9:47am On May 02, 2015 |
Good for the government |
Re: Oil Prices Rise Further As Dollar Drops by kodded(m): 9:51am On May 02, 2015 |
Equalizer: if $1 =N1 who will gain more , you or politicians (like tinubu that have billions of naira in his account) ? smh 21 Likes |
Re: Oil Prices Rise Further As Dollar Drops by NCOIM(m): 9:54am On May 02, 2015 |
GEJ the pacesetter is really Preparing a nice platform for the incoming Ungrateful government But The only thing the witch broom carrying Painted party could do is to keep insulting a "sitting" Government Its a shame that in a country like thus the opposition plays politics without decorum and maturity Political parties be it opposition or otherwise Are supposed to bring heads together and Solve national problems But on this Country,,,reverse is the case APC is nothing but a party filled with Inconsequential opportunists 122 Likes 12 Shares |
Re: Oil Prices Rise Further As Dollar Drops by Sweetguy25: 9:57am On May 02, 2015 |
It will drop again. 1 Like 1 Share |
Re: Oil Prices Rise Further As Dollar Drops by Kennywills7(m): 10:27am On May 02, 2015 |
Well its good for d Niger delta! We want resource control and We will surely actualise dat dream before they suck our land dry 13 Likes 2 Shares |
Re: Oil Prices Rise Further As Dollar Drops by kazmanbanjoko(m): 11:11am On May 02, 2015 |
Kk 1 Like 1 Share |
Re: Oil Prices Rise Further As Dollar Drops by Gogetta(m): 11:15am On May 02, 2015 |
NCOIM:what has this got to do with the topic? You're a slowpoke, like your leader! 175 Likes 11 Shares |
Re: Oil Prices Rise Further As Dollar Drops by Ayomidegbenga1(m): 11:20am On May 02, 2015 |
NCOIM: se oro niyen 68 Likes |
Re: Oil Prices Rise Further As Dollar Drops by NCOIM(m): 12:02pm On May 02, 2015 |
8 Likes 1 Share |
Re: Oil Prices Rise Further As Dollar Drops by abduljabbar4(m): 1:03pm On May 02, 2015 |
Dollars should get ready for a head to head against naira. Naira is pac and dollar is mayweather!!! 4 Likes |
Re: Oil Prices Rise Further As Dollar Drops by uzokasi1964(m): 1:06pm On May 02, 2015 |
This one na better news!!! 1 Like |
Re: Oil Prices Rise Further As Dollar Drops by abduljabbar4(m): 1:09pm On May 02, 2015 |
Sweetguy25:One would think this idi0t is from an oil producing state. Oil price will rise by 200% Insha Allah. Go to hell 15 Likes 1 Share |
Re: Oil Prices Rise Further As Dollar Drops by PassingShot(m): 1:11pm On May 02, 2015 |
Some children of hate and anger are already attributing this to Mr. Clueless when in fact he has nothing to do with the increase. Good news for the change we crave for. The children of pain, hate and anger csn do the needful. After all, lagoon is not far from many of them. 17 Likes 1 Share |
Re: Oil Prices Rise Further As Dollar Drops by stevecantrell: 1:13pm On May 02, 2015 |
Wonderful news ! |
Re: Oil Prices Rise Further As Dollar Drops by shigoslim(m): 1:35pm On May 02, 2015 |
PassingShot: But GOODLUCK is still your president till MAY 2019, 2015 so the credit still belong to him 7 Likes 1 Share |
Re: Oil Prices Rise Further As Dollar Drops by PassingShot(m): 1:41pm On May 02, 2015 |
shigoslim: Can you explain the reason please? 4 Likes |
Re: Oil Prices Rise Further As Dollar Drops by ShowYourCertificate: 1:42pm On May 02, 2015 |
PassingShot:Mr. Clueless is still your president and will remain your president till May 29. All positive achievements till that time are still attributable to him. Deal with it and move on 13 Likes 1 Share |
Re: Oil Prices Rise Further As Dollar Drops by Ellashow: 2:12pm On May 02, 2015 |
[quote author=NCOIM post=33337374]GEJ the pacesetter is really Preparing a nice platform for the incoming Ungrateful government But The only thing the witch broom carrying Painted party could do is to keep insulting a "sitting" Government Its a shame that in a country like thus the opposition plays politics without decorum and maturity Political parties be it opposition or otherwise Are supposed to bring heads together and Solve national problems But on this Country,,,reverse is the case APC is nothing but a party filled with Inconsequential opportunists [/quote Your HERO is the real "Incompetent and Inconsequential Opportunist"...who got there with another man's misfortune and the story that touched the heart (I had no shoes). So, stop spewing venom and wait till May 29, to start writing your gibberish. 17 Likes 1 Share |
Re: Oil Prices Rise Further As Dollar Drops by OreMI22: 2:15pm On May 02, 2015 |
[size=16pt]CONFAB approved a 50% derivation principle.What needs to happen now is a guerrilla warfare against oil pipelines, installations and personnel.[/size] 6 Likes 2 Shares |
Re: Oil Prices Rise Further As Dollar Drops by Ellashow: 2:21pm On May 02, 2015 |
shigoslim: That robotic GEJ TILL 2019 haven't gone out of your system yet? I feel your pain bro 9 Likes |
Re: Oil Prices Rise Further As Dollar Drops by dlox147(m): 2:24pm On May 02, 2015 |
Equalizer:that will be bad for our economy, especially to our planned economic diversification as more goods will be imported thereby reducing consumption of local goods. 2 Likes |
Re: Oil Prices Rise Further As Dollar Drops by Nobody: 3:10pm On May 02, 2015 |
dlox147:That's true brother but the fact still remains that with #1, one can comfortably buy one bottle orijin without much stress... 2 Likes |
Re: Oil Prices Rise Further As Dollar Drops by wordcat(m): 3:52pm On May 02, 2015 |
So even nature is also against GEJ 2015 ambition |
Re: Oil Prices Rise Further As Dollar Drops by san316(m): 4:11pm On May 02, 2015 |
Oil price going up? Cool mehn. |
Re: Oil Prices Rise Further As Dollar Drops by san316(m): 4:12pm On May 02, 2015 |
OreMI22: Oremussanctus the gorilla. 6 Likes |
Re: Oil Prices Rise Further As Dollar Drops by solarview(m): 4:21pm On May 02, 2015 |
Equalizer: Kai you funny o... Orijin |
Re: Oil Prices Rise Further As Dollar Drops by Nobody: 4:29pm On May 02, 2015 |
solarview:I lie? |
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