OIL PRICES RISE 9% IN A DAY: Democrats Block Drilling Of Our Own Oil.
United States Now Has More Oil Than Saudi Arabia: Obama Bans U. S. Drilling: Forces Our Money To Islamic Nations For Oil.
The Following Story INFORMS the United States Citizen just how the Illuminati agitates the world to develop a new market to exploit. Its All Smoke And Mirrors.
LONDON (AP) — Mounting concerns over Libya’s violent crisis weighed on stocks Tuesday and sent oil prices surging, while the earthquake in the New Zealand city of Christchurch pushed the country’s currency sharply lower. (Lions Tigers And Bears Oh My!!)
With deep rifts opening up in Moammar Gadhafi’s regime, air force pilots defecting and a bloody crackdown in the capital of Tripoli, investors (Can We Say Hedge Funds?) are fretting over how the crisis will end and what the impact on the North African country’s oil production will be.
Libya is the world’s 18th largest oil producer, pumping out around 1.8 million barrels a day,(Much less than Iraq Right Now) or a little under 2 percent of global daily output. The OPEC country also sits atop the biggest oil reserves in the whole of Africa. (So What? America Has More Oil Than Saudi Arabia And Illuminati via Corrupt Democrats Shut Ours Down)
With so much uncertainty surrounding a large chunk of the world’s daily oil production,(2%????) market prices surged. (Soros Hedge Funds Appreciate The Media In Their Endeavors) Benchmark crude for March delivery was up $4.80 a barrel, or 5.6 percent, at $92.55 a barrel in electronic trading on the New York Mercantile Exchange. Earlier, it had been even higher above $94 a barrel. (Run For The Hills OMG) (Drill Here Dill Now)
Rising crude prices are a particular worry for investors as they reinforce fears of inflation and raw materials costs. They also stoke worries of a big drop in global demand levels, as experienced in previous oil price shocks in 1973-4, 1979 and 2008. (Gee and all this FEAR FEAR FEAR Mongering on 2%)
“Until uncertainty in the Middle East fades, the oil price is unlikely to decline, with the concomitant threat to inflation, and margins,” said Derek Mitchell, a fund manager at Royal London Asset Management. (Do you know where George Soros Is Spending All His Efforts Now In Causing Market Place Chaos?) (The Answer: Middle East Why?) Brazil’s U.S. $133 Billion, Ten-Year Push in Search of Oil and Gas : Do Liberals Support Obama Sending Billions In U.S. Taxpayer Dollars For Brazil To Drill New Offshore Oil Wells?
Those concerns have clearly weighed on stocks, too, though a better than expected performance on Wall Street after the long weekend helped European shares claw back a chunk of their earlier losses.
The FTSE 100 index of leading British shares closed down 18.04 points, 0.3 percent at 5,996.76 while the CAC-40 in France dropped 47.14, or 1.2 percent, at 40.50.27. Germany’s DAX ended 3.46 points lower at 7,318.35.
Wall Street’s losses were less than futures markets were predicting following the three-day weekend, the losses cushioned by a survey showing U.S. consumer confidence running at a three-year high. (Do You Really Believe This One?) The Conference Board reported that its main consumer confidence index surged 5.6 points in February to 70.4, its highest level since early 2008. (Yea lets through our money at the stock because they said so) Celebrate Black History Month With Obama: The Damage! Is the preceding paragraph congruous with all the FEAR mongering going on like Unions Fighting States, Unemployment U6 at 18%, National Debt equaling The GDP due to fraudulent bailout of International Bank’s housing bubble, Foreclosures highest in history, and gee lets not forget TSA pat-downs, H1N1, Missiles taking off on the California Coast, The World is melting, Communism Turned Into Global Slaughter And Global Warming Turned Into Global Freezing. Gitmo, The Gulf Orchestrated Oil Fiasco, Bank Foreclosures, etc etc etc etc etc etc. All this was allowed to happen by Bill Clinton repealing The Glass Steagall Act in 1999. Its A Fact! BREAKING: More Than 1000 International Scientists Call Man-Made Global Warming A Fraud – Challenge NWO Operatives ~ UN IPCC & Gore
By midday New York time, the Dow Jones industrial average was down 0.8 percent at 12,291 while the broader Standard & Poor’s 500 index fell 1.2 percent to 1,327.
In the currency markets, the euro was up 0.1 percent on the day at $1.3654 while the dollar fell 0.1 percent to 82.96 yen.
An announcement from Moody’s Investor Services that it was putting Japan’s credit rating on watch for a possible downgrade had little market impact as the agency is merely lagging its rival Standard & Poor’s, which earlier this year did actually downgrade its rating on Japan by one notch below Moody’s Aa2 rating.
“The impact of developments in the Africa and Middle East on the yen have far outweighed any impact from Moody’s announcement overnight to place Japan’s credit rating on negative watch,” said Lee Hardman, currency economist at the Bank of Toky0-Mitsubishi UFJ.
Even though Japan has massive public debts, it is widely considered to be one of the safest places for investors to park their cash in troubled times.
A powerful earthquake in the New Zealand city of Christchurch also rattled markets in the region. The quake occurred in the middle of the workday, toppled tall buildings and churches, crushed buses and killed at least 65 people in one of the country’s worst natural disasters.
Following the quake, the New Zealand dollar slid 2 percent against the dollar while the country’s benchmark stock index fell 0.7 percent to 3,358.71.
Elsewhere in Asia, the Nikkei 225 stock average shed 1.8 percent to close at 10,664.70. Hong Kong’s Hang Seng lost 2.1 percent to 22,990.81 and South Korea’s Kospi dropped 1.8 percent to 1,969.92.
Mainland China shares saw their biggest loss in over a month — the benchmark Shanghai Composite Index dived 2.6 percent to 2,855.52 while the Shenzhen Composite Index skidded 2.7 percent to 1262.82.
Comments by China’s central bank governor, Zhou Xiaochuan, expressing Beijing’s determination to rein in inflation renewed worries over the likelihood of further moves by the government to cool price increases.
Pamela Sampson in Bangkok contributed to this report.
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