Dominion Lending Centres Clearlease Reports Oil near US$112 as U.S. dollar falls, crude up 14 per cent since mid-March
NEW YORK, N.Y. – (April 8, 2011) Clearlease.com Reports A drop in the U.S. dollar helped push oil near US$112 per barrel Friday, setting a new 30-month high. If crude prices keep climbing, experts say, gasoline prices could hit $4 a gallon across the U.S. this summer.
Benchmark West Texas Intermediate for May delivery rose $1.41 to $111.71 per barrel in midday trading on the New York Mercantile Exchange. Prices hit $111.90 earlier in the day, the highest since September 2008. Oil has jumped 14 per cent since the middle of March.
Meanwhile, U.S. pump prices have jumped from $3.07 to $3.74 per gallon since the beginning of the year. The swift rise has forced the Oil Price Information Service to boost its retail gasoline price forecast to between $3.75 and $4 per gallon ($1.05 a litre) this year. OPIS chief oil analyst Tom Kloza said it may not be long before the national average tests the all-time record of $4.11 per gallon set in July 2008.
Further price hikes could do serious damage to the U.S. economy, he said. For consumers, “gas prices have more relevance on an emotional level than a lot of other things that they pay for,” Kloza said. “People pay more attention to gasoline than phone service, cable TV or other services,” Kloza said.
Oil and gasoline prices have climbed this year as the Libyan rebellion shut down the country’s daily exports of 1.5 million barrels of oil. Libya produces about 2 per cent of world demand, and analysts say making up for those losses will severely reduce the ability of other oil-producing countries to increase production in the future.
Barclays Capital has said that Libya’s oil exports probably will be offline for several months. As fighting continues, more traders are going along with that prediction.
“The market is being forced to consider a possible major loss of Libyan barrels probably through the rest of this year and into next,” analyst Jim Ritterbusch said.
Experts point to several other factors that have pushed oil and gasoline to record levels this year.
The U.S. economy added hundreds of thousands of jobs this year. That means gasoline demand could increase this year as more workers join the daily commute.
Last month’s devastating earthquake and tsunami in Japan put further pressure on oil prices. Japan is expected to boost oil and natural gas imports while some nuclear power plants are offline.
A drop in the U.S. dollar this week also gave oil a boost. Oil is traded in U.S. dollars and tends to rise when the U.S. dollar falls and makes crude cheaper for investors holding foreign currency.
In other Nymex trading for May contracts, heating oil added 7.43 cents at $3.2803 per gallon and gasoline futures gained 4.65 cents to $3.233 per gallon. Natural gas lost 1.5 cents at $4.042 per 1,000 cubic feet.
In London, Brent crude rose $2.67 to $124.93 on the ICE Futures exchange.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
NEW YORK, N.Y. – (April 8, 2011) Clearlease.com Reports A drop in the U.S. dollar helped push oil near US$112 per barrel Friday, setting a new 30-month high. If crude prices keep climbing, experts say, gasoline prices could hit $4 a gallon across the U.S. this summer.
Benchmark West Texas Intermediate for May delivery rose $1.41 to $111.71 per barrel in midday trading on the New York Mercantile Exchange. Prices hit $111.90 earlier in the day, the highest since September 2008. Oil has jumped 14 per cent since the middle of March.
Meanwhile, U.S. pump prices have jumped from $3.07 to $3.74 per gallon since the beginning of the year. The swift rise has forced the Oil Price Information Service to boost its retail gasoline price forecast to between $3.75 and $4 per gallon ($1.05 a litre) this year. OPIS chief oil analyst Tom Kloza said it may not be long before the national average tests the all-time record of $4.11 per gallon set in July 2008.
Further price hikes could do serious damage to the U.S. economy, he said. For consumers, “gas prices have more relevance on an emotional level than a lot of other things that they pay for,” Kloza said. “People pay more attention to gasoline than phone service, cable TV or other services,” Kloza said.
Oil and gasoline prices have climbed this year as the Libyan rebellion shut down the country’s daily exports of 1.5 million barrels of oil. Libya produces about 2 per cent of world demand, and analysts say making up for those losses will severely reduce the ability of other oil-producing countries to increase production in the future.
Barclays Capital has said that Libya’s oil exports probably will be offline for several months. As fighting continues, more traders are going along with that prediction.
“The market is being forced to consider a possible major loss of Libyan barrels probably through the rest of this year and into next,” analyst Jim Ritterbusch said.
Experts point to several other factors that have pushed oil and gasoline to record levels this year.
The U.S. economy added hundreds of thousands of jobs this year. That means gasoline demand could increase this year as more workers join the daily commute.
Last month’s devastating earthquake and tsunami in Japan put further pressure on oil prices. Japan is expected to boost oil and natural gas imports while some nuclear power plants are offline.
A drop in the U.S. dollar this week also gave oil a boost. Oil is traded in U.S. dollars and tends to rise when the U.S. dollar falls and makes crude cheaper for investors holding foreign currency.
In other Nymex trading for May contracts, heating oil added 7.43 cents at $3.2803 per gallon and gasoline futures gained 4.65 cents to $3.233 per gallon. Natural gas lost 1.5 cents at $4.042 per 1,000 cubic feet.
In London, Brent crude rose $2.67 to $124.93 on the ICE Futures exchange.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###Dominion Lending Centres Clearlease Reports Oil near US$112 as U.S. dollar falls, crude up 14 per cent since mid-March
NEW YORK, N.Y. – (April 8, 2011) Clearlease.com Reports A drop in the U.S. dollar helped push oil near US$112 per barrel Friday, setting a new 30-month high. If crude prices keep climbing, experts say, gasoline prices could hit $4 a gallon across the U.S. this summer.
Benchmark West Texas Intermediate for May delivery rose $1.41 to $111.71 per barrel in midday trading on the New York Mercantile Exchange. Prices hit $111.90 earlier in the day, the highest since September 2008. Oil has jumped 14 per cent since the middle of March.
Meanwhile, U.S. pump prices have jumped from $3.07 to $3.74 per gallon since the beginning of the year. The swift rise has forced the Oil Price Information Service to boost its retail gasoline price forecast to between $3.75 and $4 per gallon ($1.05 a litre) this year. OPIS chief oil analyst Tom Kloza said it may not be long before the national average tests the all-time record of $4.11 per gallon set in July 2008.
Further price hikes could do serious damage to the U.S. economy, he said. For consumers, “gas prices have more relevance on an emotional level than a lot of other things that they pay for,” Kloza said. “People pay more attention to gasoline than phone service, cable TV or other services,” Kloza said.
Oil and gasoline prices have climbed this year as the Libyan rebellion shut down the country’s daily exports of 1.5 million barrels of oil. Libya produces about 2 per cent of world demand, and analysts say making up for those losses will severely reduce the ability of other oil-producing countries to increase production in the future.
Barclays Capital has said that Libya’s oil exports probably will be offline for several months. As fighting continues, more traders are going along with that prediction.
“The market is being forced to consider a possible major loss of Libyan barrels probably through the rest of this year and into next,” analyst Jim Ritterbusch said.
Experts point to several other factors that have pushed oil and gasoline to record levels this year.
The U.S. economy added hundreds of thousands of jobs this year. That means gasoline demand could increase this year as more workers join the daily commute.
Last month’s devastating earthquake and tsunami in Japan put further pressure on oil prices. Japan is expected to boost oil and natural gas imports while some nuclear power plants are offline.
A drop in the U.S. dollar this week also gave oil a boost. Oil is traded in U.S. dollars and tends to rise when the U.S. dollar falls and makes crude cheaper for investors holding foreign currency.
In other Nymex trading for May contracts, heating oil added 7.43 cents at $3.2803 per gallon and gasoline futures gained 4.65 cents to $3.233 per gallon. Natural gas lost 1.5 cents at $4.042 per 1,000 cubic feet.
In London, Brent crude rose $2.67 to $124.93 on the ICE Futures exchange.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
