Miss Ie Cien digenjot lagi besok ah, mumpung masih baceos ...tiap hari (penganten baru) Lirik lagu pop sunda : kacida, Piraku, resiko dapur ukur sarebu... (keterlaluan, masa resiko dapur cuma serebu) Associated Press Oil Prices Fall on U.S. Supply Buildup Thursday December 2, 10:18 am ET By Jane Wardell, AP Business Writer Oil Prices Fall Below $45 a Barrel As U.S. Supply Buildup Eases Fears Over Winter Crunch LONDON (AP) -- A selloff in crude oil futures continued Thursday, with prices falling below $45 a barrel, after a large build in U.S. fuel supplies eased fears of a crunch during the Northern Hemisphere winter. ADVERTISEMENT Analysts said the sell-off through key support levels was also being aided by comments from an OPEC official that the group is likely to keep production at current levels when it meets next week. "It doesn't surprise me, to be honest, we've been looking for lower oil prices for some time," said Jason Kenney, an analyst at ING Financial Markets in London. "They have been testing levels to get lower." Light, sweet crude for January delivery was down 99 cents to $44.40 in early trading on the New York Mercantile Exchange. The contract plunged more than $3 a barrel Wednesday -- the steepest price drop in years -- after the release of the U.S. distillate stock data. Heating oil futures were down nearly 2 cents to $1.3100 per gallon on the Nymex. They sank 8.90 cents, or 6 percent, on Wednesday. In London, Brent for January delivery was down 89 cents at $41.42 on the International Petroleum Exchange. "Prices are stabilizing a bit; the markets seems somewhat balanced in terms of good news and bad news," said Victor Shum, an analyst at Purvin & Gertz in Singapore. The U.S. Energy Department reported Wednesday that the nation's supply of distillate fuel, which includes heating oil, grew by 2.3 million barrels last week to 117.9 million barrels. U.S. crude oil inventories grew by 900,000 barrels last week to 293.3 million barrels. The steady build-up quelled persistent market fears about a potential shortage of heating oil as cold weather sets in. The downward pressure on prices was given a boost Thursday by a senior official of the Organization of Petroleum Exporting Countries that the cartel is unlikely to agree to an output cut when members meet on Dec. 10 in Cairo to reassess their supply commitments. "Cutting the production has a little chance," Maizar Rahman told reporters during a visit to Manila. "Much we can do is stay at the quota." Rahman said he expects OPEC's production to average 28 million barrels a day next year, adding that the organization expects oil demand to fall in 2005 due to an anticipated weakening of the global economy. Analysts said that Thursday's price ease could yet be reversed if the North American winter begins to bite. "The season is yet to pick up," Kenney said. "The weather forecast is still moderate in the U.S. for the next week or so. There is still some severer weather to come in late December and January." Supply disruptions elsewhere would also put upward pressure on prices. "What would upset the balance?" asked Shum. "Top of the list is the Yukos situation, something drastic might happen to Yukos that might disrupt the production out of Russia." Yukos, Russia's top producer, is locked in a bitter and protracted battle with the Moscow authorities over billion of dollars (euros) in unpaid taxes. Its former chief executive is in jail, charged with criminal fraud and tax evasion, and the company has been in turmoil. Shum also said there were also lingering concerns about possibly supply glitches in major-producer Iraq, where insurgents have repeatedly targeted oil infrastructure as they battle U.S. and local forces. Crude prices, which have been pushed up about 50 percent this year on concerns about tight global supplies, are now about $10 a barrel cheaper than the record of $55.17 per barrel set twice in late October. ------------------------ Yahoo! Groups Sponsor --------------------~--> $9.95 domain names from Yahoo!. Register anything. http://us.click.yahoo.com/J8kdrA/y20IAA/yQLSAA/BefplB/TM --------------------------------------------------------------------~-> ---------------------------------------------------------- IMQ - THE REAL TIME DATA AND BUSINESS NEWS SERVICE ---------------------------------------------------------- Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/obrolan-bandar/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
