This accordion-fold booklet contains a series of analytical views of the Arabian coast of the Persian Gulf by AMO-OMA and colleagues from the American University of Sharjah, UAE. . . .
Mitch Kahn, recalls how, when the fighting started in the second Iraq war, the prices for the U.S. crude Oil Spikes to $10 per barrel overnight.
That would have meant that a profit of $50,000, if a trader had the smallest, purchase, trade possible. Or to sell only as a great loss, if the trader had decided it.
Mr. Kahn worked as an independent trader on the New York Mercantile Exchange (NYMEX) on Vesey Street in downtown Manhattan, where the petroleum, natural gas and heating Oil were traded, which were traded on the ground floor and precious metals in the ground.
In 2004, as the second Iraq war broke out, it was decided, the prices on the open-outcry: the yells and screams of the (mostly) men Are in The Ring . Some bought, some sold, The Price is between what the buyer and the seller.
The Ring was so loud, that some of the traders wore earplugs, Mr. Kahn says. But for him, the adrenaline was enough to be heard clearly.
While trading 24 hour is closed today, in the year 2004, as the bell buzzed at 14:30 EST the market.Oil traders on The Floor of the New York Mercantile Exchange
on this day in 2004, when the market is opened, it is started by the dealer to shout on his right side.
He remembered the trader, the broken next to him trying to sell some Oil , "and the market. "
Within minutes, a barrel of Oil was 20 dollars cheaper. But this is less likely to happen today.
"move, the markets are different now," he says.The Rules
the share prices of BP and Royal Dutch Shell both with the 1. 5%.
"The Rules have changed, materially," says Mr. Widmer.Oil -production
"This is one of the largest ever in the global Oil market, in relation to the offer and it had no sustainable effect".
one day, the market fluctuated almost 10 dollars per barrel, but not much happened in the subsequent period.
While tensions rose on the political stage, with scarce rhetoric flying between Iran and the United States, and a plan for the deployment of new sanctions, Oil slipped back down to below $60 per barrel two weeks later.
But the acidic political discourse outlasted all the fears, The Price of the disease.
This is because more and more countries, in particular Russia and the USA, the pumping of Oil are now.
"Well, if the Opec cuts in production, it makes to increase more room to breathe, for the other countries in theirs," said Mr. Widmer.
"at this time, the commodity markets were established in the first. There are a lot more participants in the market are now," says Mr money.
And far more information available than even five years ago, today, he adds.
If the Saudi Arabian producers last September, which showed satellite leave have been attacked-images of ships in port, and the plants themselves, that the production started quickly and the exports have resumed.
"years ago, people would frantically call the others to find out what was going on," he says.
In the short term, analysts at Citibank expect prices to remain high on retribution fears.