Inventories and Threats of Chinese Tightening Give Commodity Bears The Advantage
Crude oil inventories spiked for a 2nd consecutive week, while on hand crude dropped in 3 out of 5 PAD districts the big gains in the Gulf Coast region created the net gain. Gasoline demand even fell for a 3rd consecutive week as gasoline inventories also made considerable gains. And oil prices showed the effects on Thursday touching a two week low of $88.00.
Nigeria Back in Business as Jonathan's US Visit Highlights Renewed Control of the Government
Tension Builds in the Gulf of Guinea as Competition for Economic Resources Increases
Acting Nigerian President Moves Quickly, Decisively to Get Country Back on Track
Acting Nigerian President Goodluck Jonathan has moved decisively and rapidly to unify the Government under him, dismissing — on March 17, 2010 — the entire Cabinet which had been appointed by the now-incapacitated Pres. Umaru Musa Yar’Adua. This followed his move, the week before, to appoint Lt.-Gen.
There had been disturbing news and reports emanating from the Niger Delta oil basin of Nigeria in recent times. On Monday March 15, 2010, a car bomb explosion was reported around Warri while two state governors and other dignitaries were visiting the area. From the photograph in one of the National Dailies, this was not Xmas firecracker explosion!