Oil Prices Push Higher as Tensions in Mid-East Grow
Oil prices have surged 14 percent since Friday to nearly $40 a barrel as investors worry that continued fighting between Israel and Hamas could lead to supply concerns in the Middle East. More
In addition, the growing tensions have caused the dollar to decline on worries that oil supplies to the US could be affected.
Russia’s Gazprom Threatens to Cut Gas Supplies to Ukraine
In an ongoing war of words over unpaid bills between Gazprom and the Ukraine ministry, Gazprom – the world’s largest supplier of gas – has threatened to cut gas supplied to Ukraine on January 1st. The Ukraine pipeline is a vital supply route to eastern Europe and could affect other European countries. More
Canadian Dollars Woes Expected to Continue into 2009
The Canadian dollar fell more than 18 percent in 2008 as slumping oil prices reduced the overall value of Canadian exports. Nearly half of Canada’s exports are tied to the sale of oil and with only minimal gains in oil prices expected in the new year, most analysts agree that the loonie will remain weak during the upcoming year. More
Rising Energy Costs Give Markets a Boost
Stock futures in most of the world’s major markets moved higher Tuesday as tensions in the Middle East pushed energy stocks higher. More
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