More Price increases Coming!
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Title : New York oil price passes record US$90
By :
Date : 19 Oct 2007 0713 hrs (GMT + 8hrs)
NEW YORK: New York crude oil prices surpassed a record 90 dollars a barrel in after-hours trading on Thursday following increased tensions between Turkey's government and Kurdish rebels in northern Iraq.
Traders said a weak US dollar and global supply jitters had also stoked the price surge.
The price gains in after-hours trading came after New York's main oil futures contract, light sweet crude for delivery in November, had jumped 2.07 dollars to a record close of 89.47 dollars a barrel.
In electronic trade after the market close, the benchmark contract spiked to an all-time high of 90.02 dollars.
London prices also pushed higher in after-hours trading, as Brent North Sea crude for December delivery soared to 84.88 dollars after the contract had earlier settled 1.47 dollars higher at 84.60 dollars.
Oil prices have pushed higher this week amid geopolitical angst related to the Turkey-Iraq border and a weakening dollar, which makes dollar-priced commodities such as oil cheaper for buyers with stronger currencies and therefore lifts crude demand.
The euro earlier hit a record high of 1.4310 dollars on Thursday.
"The issue seems no longer to be whether oil will reach 100 dollars per barrel, but when," said Barclays Capital analyst Kevin Norrish.
Turkey said Thursday it would pursue diplomacy to defuse a crisis over Kurdish rebels in northern Iraq as Baghdad made fresh appeals to dissuade its neighbour from military action.
The Turkish parliament Wednesday approved a motion authorizing military strikes for a one-year period against the Kurdistan Workers' Party (PKK), which is accused of using bases in northern Iraq for attacks on targets across the border in Turkey.
Oil prices streaked higher amid fears of a potential conflict.
"Once the furore has settled down, the oil market as a whole can get on the job of working out whether supply and demand dynamics mean that long-term prices should have two or three digits."
Alaron Trading analyst Phil Flynn predicted prices could go even higher.
"The next target should be roughly four dollars above that level, somewhere around 93 dollars a barrel," he said.
"It's hard to pick a top in a raging bull market but it's possible that we are close. Volatility will be huge," he said.
Analysts said traders were closely monitoring tensions between Turkey and Iraq.
Traders are also concerned about tight global energy supplies, particularly ahead of the northern hemisphere winter when demand for heating fuel peaks.
A weekly US snapshot on energy stockpiles on Wednesday did little to allay such worries, traders said.
- AFP/so -
Title : Price of flour up 30%, bread may cost more from Jan 2008
By : Hoe Yeen Nie, Channel NewsAsia
Date : 19 Oct 2007 2311 hrs (GMT + 8hrs)
SINGAPORE : The price of flour has increased again, but this time it has gone up by thirty percent.
This is the biggest ever hike, according to industry watchers.
From January, it will cost 20 cents more to buy a loaf of bread.
Wholesalers said the price of other bread ingredients have been increasing. Some said they have no choice but to pass on some of the costs to consumers.
But local chain BreadTalk said it will hold off from raising prices for the time being.
Responding to queries, Prima Flour said the worldwide shortage of flour is due to bad weather affecting millet harvests in Canada and Australia. - CNA /ls -
Today's news: Price of Live Chicken rise by 20%
Title : Gold price hits highest level since 1980
By :
Date : 16 Oct 2007 2306 hrs (GMT + 8hrs)
LONDON : The price of gold leapt on Tuesday to the highest level since the start of 1980, winning support from runaway crude oil prices, traders said.
On the London Bullion Market, gold prices surged as high as 767.09 dollars per ounce.
Gold prices jumped higher "on a combination of a weaker dollar, geopolitical concerns, positive investor sentiment and record high oil prices," said analysts at Barclays Capital.
They added: "Geopolitical concerns have come on the back of Turkey debating potential military action in Northern Iraq to combat Kurdish rebels while ... crude oil prices have hit fresh all-time highs."
New York's main futures contract, light sweet crude for delivery in November, surged to an historic 87.97 dollars per barrel on Tuesday, while London Brent oil hit a record 84.31 dollars.
Gold prices are boosted by record high oil prices, which in turn spark inflationary concerns.
The precious metal is seen as a safe haven in times of both rising inflation and geopolitical uncertainty.
In addition, gold benefits from a weak US unit because it makes commodities that are priced in dollars cheaper for buyers using stronger currencies.
Since the start of September, gold has gained more than 100 dollars or about 15 percent in value. - AFP/de -
So how prices keep increasing, salary stays stagnant, how to cope, there will be more crime rate, I think
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Noodles used to be 10 cents. Look, it's $3 a bowl now. -
Mas is allowing the Sing$ to appreciate...lets see how that works out.
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Today I go kopitiam buy the skinless bread, price up by 10 cents already, next month up by 20 cents.
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This is a sign of end of the world coming soon.
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Only for the poor and average ppl. If you are earning millions and have the ability to raise your own salary whenever you like, these price increase mean nothing to you.Originally posted by T.Ryousuke:This is a sign of end of the world coming soon.
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Now you know why the rich and the MP raise their salaries, they had foreseen these will happen. Selfish talents still sucking money non stop. Everything is going up. Next year, Chinese new year, More Price increases Coming soon. Keep saying affordable, for themselves.
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Yawnzzzzzz.......
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Inevitable
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This is not end of the world, just part and parcel of economic cycle. Just take it as a new experience in life.Originally posted by T.Ryousuke:This is a sign of end of the world coming soon. -
Time to get a smaller economical car
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The increase is due to weakness in the US dollar. The Singapore dollar has also appreciated in value (from 1.52 to 1.46) when compared to the US dollar, so the price increases "should not" affect Singapore too much. But then again, the regime could come up with some coca mami logic to increase electricity. Our electricity is generated from natural gas, which is different from crude oil.Originally posted by mistyblue:Title : New York oil price passes record US$90
By :
Date : 19 Oct 2007 0713 hrs (GMT + 8hrs)
NEW YORK: New York crude oil prices surpassed a record 90 dollars a barrel in after-hours trading on Thursday following increased tensions between Turkey's government and Kurdish rebels in northern Iraq.
Traders said a weak US dollar and global supply jitters had also stoked the price surge.
The price gains in after-hours trading came after New York's main oil futures contract, light sweet crude for delivery in November, had jumped 2.07 dollars to a record close of 89.47 dollars a barrel.
In electronic trade after the market close, the benchmark contract spiked to an all-time high of 90.02 dollars.
London prices also pushed higher in after-hours trading, as Brent North Sea crude for December delivery soared to 84.88 dollars after the contract had earlier settled 1.47 dollars higher at 84.60 dollars.
Oil prices have pushed higher this week amid geopolitical angst related to the Turkey-Iraq border and a weakening dollar, which makes dollar-priced commodities such as oil cheaper for buyers with stronger currencies and therefore lifts crude demand.
The euro earlier hit a record high of 1.4310 dollars on Thursday.
"The issue seems no longer to be whether oil will reach 100 dollars per barrel, but when," said Barclays Capital analyst Kevin Norrish.
Turkey said Thursday it would pursue diplomacy to defuse a crisis over Kurdish rebels in northern Iraq as Baghdad made fresh appeals to dissuade its neighbour from military action.
The Turkish parliament Wednesday approved a motion authorizing military strikes for a one-year period against the Kurdistan Workers' Party (PKK), which is accused of using bases in northern Iraq for attacks on targets across the border in Turkey.
Oil prices streaked higher amid fears of a potential conflict.
"Once the furore has settled down, the oil market as a whole can get on the job of working out whether supply and demand dynamics mean that long-term prices should have two or three digits."
Alaron Trading analyst Phil Flynn predicted prices could go even higher.
"The next target should be roughly four dollars above that level, somewhere around 93 dollars a barrel," he said.
"It's hard to pick a top in a raging bull market but it's possible that we are close. Volatility will be huge," he said.
Analysts said traders were closely monitoring tensions between Turkey and Iraq.
Traders are also concerned about tight global energy supplies, particularly ahead of the northern hemisphere winter when demand for heating fuel peaks.
A weekly US snapshot on energy stockpiles on Wednesday did little to allay such worries, traders said.
- AFP/so -
does not matter if it is weak dollar or strong sing. The main matter is that people are influenced by such reports. There are a lot more factors to finance and economics than pure numbers.
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Just got to find more lobang and substainable income streams : )
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so that they can lay their dirty hands on them....Originally posted by kin0:Just got to find more lobang and substainable income streams : ) -
you need to stop the bleeding before you start to heal...
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I know people who teach Tutition...Originally posted by kin0:Just got to find more lobang and substainable income streams : )
and they have free time, able to go on vacation. -
Somehow the minister salary defied all logic, rules and even economic cycle.Originally posted by Gazelle:This is not end of the world, just part and parcel of economic cycle. Just take it as a new experience in life. -
Originally posted by ditzy:Today I go kopitiam buy the skinless bread, price up by 10 cents already, next month up by 20 cents.
soon even bread skins will be proven too expensive for us to eat -
I heard Loti will increase 20cents because flour price increase.Originally posted by Phoebie:
soon even bread skins will be proven too expensive for us to eat
Now have to be thankful have loti to eat. -
I read that oip prices have decreased n it is a temporary reprieve.
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People living in NY, one of the most expensive cities in US also having problem with salary.
http://news.yahoo.com/s/ap/20071019/ap_on_bi_ge/stretching_paychecks