chiffres US ...so so ...BERNANKE

Bernanke: Recovery finally taking hold

, On Friday January 7, 2011, 9:35 am

The U.S. economic recovery is finally getting stronger, Federal Reserve Chairman Ben Bernanke said Friday morning.

Bernanke, in remarks prepared for testimony before the Senate Budget Committee, said there is increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold.

"Overall the pace of economic recovery seems likely to be moderately stronger in 2011 than it was in 2010," he said.

But he said a rebound in employment remains elusive, and that unemployment is likely to remain close to 8% two years from now.

The remarks came just an hour after the Labor Department reported that unemployment had dropped to 9.4% in December from 9.8%. Still, the number of jobs added was lower than expectations.


SACHANT QU'UN GALLON = 3.78541178 litres

les américains payent aujourd'hui 0.626 € le litre d'essence normale.


Pump Prices Likely to Stay Above $3

by Ben Lefebvre
Friday, January 7, 2011

provided by


The recession cut consumption, and stricter fuel-emission standards and increased use of biofuels has helped build ample supply. Instead, refiners trying to meet global demand for fuels such as diesel will bid up the price of crude oil. This, in turn, will keep the heat on gasoline prices.

"There's some pretty heavy world-wide demand for diesel," said Jim Williams, energy economist at oil-and-gas consultancy WTRG Economics.

Gasoline futures for February delivery settled down 0.21 cent, or 0.1%, at $2.4430 a gallon on the New York Mercantile Exchange on Thursday, while other commodities fell more steeply due to weakness in the euro. A stronger dollar renders dollar-denominated commodity futures more expensive for those buying with foreign currencies. Crude oil dropped $1.92, or 2.1%, to $88.38 a barrel.

Barring a major war or natural catastrophe, the average price of gasoline for 2011 probably would range between $3 and $3.30, according to analysts and traders. The average U.S. price for regular gasoline was $3.079 on Thursday, according to travel group AAA. That was up more than 39 cents from a year ago, when prices languished after the global recession, which had cut demand for fuel.

As North American and Asian economies strengthen, demand for oil products will rise to nearly 89 million barrels a day in 2011, a 1.6% increase from last year, according to the International Energy Agency. Diesel demand in China alone is expected to increase to 3.12 million barrels a day in 2011, a 4.5% increase from 2010, the IEA said.

U.S. refiners are looking to capitalize on that demand. U.S. diesel and heating oil exports averaged a record 874,000 barrels a day in October, according to the latest Energy Information Administration monthly data. That was up 14% from September and 57% from a year ago.

Refiner Valero Energy Corp. (NYSE: VLO - News) is building two 50,000-barrel-a-day hydrocrackers at its Gulf Coast refineries. Hydrocrackers are units that mainly produce distillates, which include diesel and heating oil. Tesoro Corp. (NYSE: TSO - News) has said it will work to increase its distillate sales to Asia and South America.

Encouraging economic news has helped spur investments in commodities, sending crude-oil prices above $90. Energy-industry analysts said that trend likely will continue for most of 2011 as developing countries maintain high economic growth rates and an improving U.S. economy brings more people back to the work force.

"Absent a war or serious event, all commodities will rise" in 2011, said Andrew Lipow, president of energy-consulting firm Lipow Oil Associates LLC. Lipow forecast an average retail gasoline price of $3.15 to $3.20 a gallon.

Plenty of factors that could limit gasoline prices remain. A potential real-estate crash in China and state government budget shortfalls in the U.S. could derail markets, said Tom Knight, vice president of supply and trading at Truman Arnold Cos.

"Mainstream economists appear to completely dismiss the numerous global economic land mines we are attempting to negotiate," said Mr. Knight, who believes that gasoline prices will average less than $3 a gallon this year. "We see much greater downside risk than sustainable upside potential."

While some analysts said U.S. retail gasoline could approach $4 a gallon this summer, many disagreed with the $5-a-gallon prediction former Shell Oil Co. President John Hofmeister made last month.

"We don't see it getting that high," said Aaron Brady, associate director at energy-analysis group Cambridge Energy Research Associates. "You never rule anything out, but crude would have to get to at least $175 a barrel before that happened."

les indices a 16h12...

Libellé Dernier Var.
EUR/USD 1.3002 0%
Euribor 1 an 1.505 -0.07%
Gold Index 1355.50 -1.17%
Pétrole (New York) 88.75 0.42%
BEL 20 * 2613.07 -12.37 -0.47 %  
AEX 25 * 357.48 0.59 0.17 %  
CAC 40 * 3886.10 -18.32 -0.47 %  
Euronext 100 * 703.59 -2.50 -0.35 %  
Next 150 * 1700.12 -6.49 -0.38 %  
DAX 30 6974.15 -7.24 -0.10 %  
MIB 30 20,627.70 -9.69 -0.05 %  
BEL 20 * 2,613.18 -12.26 -0.47 %  
SMI 6,514.27 -18.57 -0.28 %  
SLI 1,034.25 -3.28 -0.32 %  
SPI 5,840.20 -18.28 -0.31 %  
FTSE™ 100 5998.53 -20.98 -0.35 %  
Dow Jones * 11705.52 8.21 0.07 %  
Nasdaq 100 2274.23 -3.28 -0.14 %  
Nasdaq 2705.33 -4.56 -0.17 %  
OMX Nordic 40 1,120.81 3.19 0.29 %  
OMX Helsinki 25 2,666.11 15.01 0.57 %  
OMX Stockholm 30 1,160.54 8.74 0.76 %  
OMX Copenhagen 20 465.32 -5.41 -1.15 %  

16:13 Écrit par swingteam-cc | Lien permanent | Commentaires (1) |  Facebook |


Recession always has the worst effect on oil prices, in the other words it can be said the oil shortage and price fluctuation is one of the basic causes of recession.

Écrit par : Heating Oil Manhattan | 19/04/2011

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