NVDL: Anyone who has kept tabbed on the financial markets would be a fool to predict where they are going. What we know though is that the markets have been more unstable in the last 6 months than they have ever been. Over the medium term, energy prices are likely to increase, whether or not economies improve. If one looks at future's contracts, the disparity is becoming greater.
Russia The oil slump, however, exacerbates Russia's already severe problems. Since May Russian markets have lost 70% of their value. Iran Its "rainy day" oil stabilisation fund, used to release profits when revenues decline, is reportedly badly depleted as a result of mismanagement by Mahmoud Ahmadinejad's government. The precise figure is a state secret, but a member of parliament revealed recently it was $7bn - just enough to cover one year of imported petrol. |
clipped from www.guardian.co.uk
No comments:
Post a Comment