• Most Popular
  • Most Shared

PRESS DIGEST - Financial Times - May 21

Tue May 20, 2008 10:43pm EDT

Financial Times

Stocks  |  China

OIL FUTURES PASS 130 DOLLARS AS FEARS OF SHORTAGES WITHIN FIVE YEARS.

Oil futures prices rose well above 130 dollars a barrel on Tuesday as investors rushed to buy contracts as far forward as December 2016 on fears of an oil shortage within five years. Contracts to be delivered at the end of 2012 have soared almost 60 percent and, since January, near-term prices have risen 35 percent. Wood Mackenzie's Anne-Louise Hittle said that investors were shifting their focus from the short to medium term where supply fears dominate the thinking. Demand for oil, especially from China, is set to continue to grow and Deutsche Bank economist Adam Sieminski said: "The price is going to go up until governments that subsidise oil consumption in Asia and the Middle East can no longer afford it.'

FREIGHT FUELS FAST RISE IN DIESEL COST
Stocks
China


More from Reuters

Photo

Tech solutions to climate change

Experts say there is no single answer to solving global warming, but a handful of technologies could be promising. Check out some of the candidates and join the debate.  Full Article 

    Climate conference
    Kenneth Feinberg, special master of executive compensation in the Troubled Asset Relief Program at the Treasury, speaks in Washington November 2, 2009. REUTERS/Joshua Roberts

    Pay cuts, round two

    Pay czar Kenneth Feinberg cracked the whip in his latest round of compensation rulings, slimming the salaries of top-tier earners at bailed-out companies.  Full Article 

    Executive compensation
    A worker stands in front of radioactivity signs at the Khorasan-1 uranium mine in southern Kazakhstan April 24, 2009. REUTERS/Shamil Zhumatov

    Buying opportunity: Uranium

    A supply glut could drive prices down in the short term, but demand from nuclear reactors is expected to surge in coming years.  Full Article 

    Commodities