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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (7041)	6/8/2006 5:50:30 AM
From: elmatador	Respond to of 217767

Oil Extends Decline After Al-Qaeda Leader Is Killed in Iraq Abu Musab al-Zarqawi was killed by a U.S. air strike north of Baghdad, Iraqi Prime Minister Nuri al-Maliki and U.S. General George Casey said at a televised press conference. Oil Extends Decline After Al-Qaeda Leader Is Killed in Iraq June 8 (Bloomberg) -- Crude oil fell after the leader of al- Qaeda in Iraq was killed, prompting speculation the attacks and sabotage that have curtailed Iraqi oil exports will ease. Abu Musab al-Zarqawi was killed by a U.S. air strike north of Baghdad, Iraqi Prime Minister Nuri al-Maliki and U.S. General George Casey said at a televised press conference. ``There's less of a terror threat in Iraq now,'' said Naohiro Niimura, a vice president of energy derivatives at Mizuho Corporate Bank Ltd. in Tokyo. ``It came during a bearish time in the market.'' Crude oil for July delivery fell as much as $1.28, or 1.8 percent, to $69.54 a barrel on the New York Mercantile Exchange. It traded at $69.94 at 10 a.m. in London. Brent for July fell 72 cents to $68.47 a barrel at the ICE Futures exchange in London. Al-Zarqawi, a Jordanian, was the most wanted man in Iraq. He had taken responsibility for bombings, kidnappings and beheadings across the country since the U.S.-led invasion in March 2003. ``This is a message to all those who take violence as a path, to reconsider and to go back to their senses before it is too late,'' al-Maliki said at the press conference. Oil extended its decline when a Nigerian militant group, the Movement for the Emancipation of the Niger Delta, said it would release five South Korean oil workers it took hostage yesterday. MEND said it decided to free the hostages after an appeal by Mujahid Dokubo Asari, a militia leader jailed on treason charges. Unexpected Gain Crude prices had already dropped, after the U.S. said yesterday its oil and gasoline stockpiles were increasing. Crude oil supplies unexpectedly rose last week as imports surged to a 10- month high and gasoline demand eased, the Energy Department said yesterday. ``The inventory levels speak volumes about what's happening in the U.S.,'' said David Land, a market analyst at CMC Markets Plc in Sydney. ``The refiners are giving a good turnout and there's also a pullback in gasoline demand.'' Gasoline supplies rose for a sixth straight week, gaining 1.1 million barrels to 210.3 million barrels in the period ended June 2, the U.S. Department of Energy said yesterday. An increase of 1.5 million barrels was expected, based on the median forecast from a Bloomberg survey of 17 analysts. Implied daily gasoline demand was 9.37 million barrels a day, down 0.7 percent from a nine-month high the week before. Demand the past four weeks averaged 9.3 million barrels, up 0.7 percent from a year earlier, the department said. Gasoline for July delivery declined 2.97 cents, or 1.4 percent, to $2.0943 a gallon in after-hours trading. It fell 5.48 cents, or 2.5 percent, to $2.124 yesterday. U.S. crude-oil supplies rose 1.1 million barrels to 346.6 million, 4.2 percent higher than a year earlier. A decline of 500,000 barrels was forecast by analysts. Imports climbed an average 39,000 barrels a day to 10.9 million, the highest since the week ended Aug. 5, the department said. Iran Incentives Oil prices started falling two days ago, when Iran began considering a European Union proposal to curb its nuclear research. Iran has been given until the end of the month to accept the package of trade, diplomatic and technology incentives in return for halting uranium enrichment, Agence France-Presse reported, citing a Western diplomat it didn't identify. ``We are going to carefully study them,'' Foreign Minister Manouchehr Mottaki said yesterday, according to a statement on the official IRNA news agency. ``We prefer cooperation to confrontation.'' Enrichment of uranium is a necessary step to produce fuel for a nuclear power plant and for building an atomic bomb. The U.S. says Iran is trying to build a nuclear weapon, in violation of an international treaty. Iran insists its nuclear program is for civilian energy use. Iranian President Mahmoud Ahmadinejad today rejected talks on nuclear technologies in his televised remarks. Crude output by the Organization of Petroleum Exporting Countries, which pumps 40 percent of the world's oil, rose 0.4 percent in May to 29.78 million barrels a day, according to a Bloomberg News survey of oil companies, producers and analysts. OPEC members pumped 30.54 million barrels a day in October 2004, the highest since 1979.

To: energyplay who wrote (7041)	6/8/2006 9:48:38 AM
From: elmatador	Respond to of 217767

1) Iran opens and Iraq is pacified 2)Iran becomes a BRIC country. Who will benefit? US asks for sweet deals to re-build Iran. Boeing, Motorola, G.E. ... Script is playing on! Message 21614591 Iran was seeing BRICs Brazil, Russia, China and India being talked as the next powers and no talk about Iran! Iran wants to be seen as a major power. There's no way to become relevant if the country is a paryah such as Iran. Iran will come out of the cold and will skyrocket upwards!! The Iranians who got the Iraqi currency -during the Iraqi debacle- at next to zero are salivating!!