HYDROCARBONS DAILY RECORD: WEDNESDAY, 08 NOVEMBER 2006
By J. Brock (FINN)
At 1800 LMT on Wednesday, 08 November 2006 Light Sweet Crude gained .90 Cents on the New York Mercantile Exchange to stand at $59,83 and Brent Crude gained $1.11 Cents to stand at $59.59 on London’s ICE Futures Exchange.
TRENDS
There was a mixed report on US inventories today. While the supply of crude gained 400,000 barrels at 334.7 barrels, it was last week’s decline by 600,000 barrels leaving 204 million barrels of gasoline that sent crude prices up.
THE MARKETS
FTSE
At the close of play today, the FTSE 100 was down 4.96 points to settle 6,239.00 and the FTSE 250 gained 2.45 points to end at 10,562.30. FTSE Small Cap gained 23.60 points to settle at 3,686.90.
DOW JONES AND NASDAQ
At the end of play today the Dow Jones Index gained 19.77 points or 0.16% to settle at 12,176.54 and the NASDAQ gained 9.00 points or 0.38% to settle at 2,384.94. The S&P500 gained 2.88 points or 0.21% to settle at 1,385.72 and the NYSE gained 22.33 points or 0.25% to settle at 8,8857.55.
(DEVELOPING FACTORS)
(BP)
Representatives from BP, The Nature Conservancy and the U. S. state of Virginia have marked the donation of 655 acres of undeveloped land in the Commonwealth’s York County. Donated by BP to TNC earlier this year as a way of preserving the acreage, the Department of Game and Inland Fisheries has agreed to accept the transfer of this property as part of its system of wildlife management areas. The transfer will occur by the spring of 2007. The ceremony was held at Seaford Elementary School, bordering the southern portion of the acreage.
(The People’s Republic of China)
The People’s Republic of China could save billions in oil-imports by legislating against gas-guzzling vehicles and secondly considering green energy, as well as other policy moves. In its World Energy Outlook through 2030, the IEA said that China's energy security, and that of other big oil consumers, is at risk unless there is action to slow the growth in consumption of fossil fuels. As China overtakes the U.S. to become the largest emitter of carbon dioxide, threats to the environment also will worsen the report said.
DEVELOPING REGIONAL FACTORS
(Argentina)
From a Press Release:
Urex Energy Corp. (the “Company” or “Urex”) (OTCBB:URXE) is pleased to announce that Mr. Oscar Yoshitaka Yokoi, the Company’s South American Manager, was appointed to the board of directors of the Company. Mr. Yokoi has over 29 years of mining and mineral exploration experience and received a Bachelors of Science in Geology (1977) from the University of Sao Paulo and a Masters of Arts in Business Administration (2003) from UNA Belo Horizonte. During his career, Mr. Yokoi was employed by BP Minerals, Brascan, Homestake Mining Company, Votorantim and JOGMEC and has consulted for CVRD, Placer Dome, and Meridian Gold. Mr. Yokoi has taken charge of Urex’s Rio Chubut Project, which includes the recently announced drill program on the Cerro Solo Block that comprises a seismic refraction geophysical survey and a 30 hole drill program. Urex’s Cerro Solo Claim Block borders Comision Nacional de Energia Atomica’s (“CNEA”) 10 million pound Cerro Solo Uranium Deposit. In addition, Mr. Yokoi will direct a comprehensive geologic review of the entire Rio Chubut Property (170,000 hectares) with the objective of screening uranium anomalies for future drill testing. Contacts Urex Energy Corp. Mr. Brad Long, Investor Relations Toll Free: 866-493-(URXE) 879 Direct: 360-332-4547: Email: info@urexenergy.com www.urexenergy.com
(Falkland Islands)
Share prices at the close of play on Tuesday, 07 November 2006
Desire Petroleum Plc ended unchanged on the day to settle at 34.75.
Falkland Oil and Gas Limited (FOGL) ended down 0.50 or 0.59% on the day to stand at 84.00.
Rockhopper Exploration ended down 2.00 or -4.76% on the day to settle at 40.00.
Borders & Southern ended unchanged on the day to stand at 37.50
Tullow Oil ended up 2.00 or 0.49% to stand at 414.25.
