enbridge

The Autumn Un-Equinox

Filed in comex, commodities, deflation, economy, enbridge, euro, Gold, obama, silver by on September 23, 2010 0 Comments

The Autumn Un-equinox. Gold sizzles, oil fizzles in the aftermath of the Fed promise to reinflate the economy. Oil and the leafs are beginning to fall as demand for oil and the economic outlook continue to weigh heavily. The disparity between gold and oil recently seem to reflect the despair that we are feeling from the FOMC committee or perhaps the Obama economic team. Now this morning the market fears that demand for oil may fall in Europe as well after a euro-zone purchasing managers’ survey fell to 53.8 in September from 56.2 in August the slowest pace in 7 months. While their manufacturing sector is still expanding the market was looking for a number closer to 55.7%. This slower pace comes a day after a very bearish Energy Information Agency report that showed a surprise increase in crude supply and a depressing feeling on demand. If you were worried about the impact that the Enbridge pipeline shutdown and inclement weather might have had on supply I guess you shouldn’t have because supplies increased anyway. Crude defied expectations rising by 1.0 million barrels while demand was lousy. Total oil use was the lowest since last July. The EIA said that total products supplied averaged only 19.5 million barrels per day. Yes it was up by 1.6 percent compared to the similar period last year but last year was a disaster. Gasoline demand has averaged 9.1 million barrels per day, down by 0.1 percent from the same period last year. That’s right! Down!!! On the positive side of the demand equation distillate fuel demand has averaged 3.8 million barrels per day over the last four weeks, up by 12.9 percent from the same period last year. That demand is being driven by farmers using diesel to harvest crops. The demand also reflects strong US exports to South America where they want to get those crops in to take advantage of the current high grain prices. Jet fuel Demand came in at 2.4 percent higher over the last four weeks compared to the same four-week period last year. Are you ready for another way to try to take advantage of the volatility in oil and gold? Well the CME Group has got you covered and they want you to know that in the fourth quarter of 2010 it will begin offering futures and options contracts based on gold and oil volatility indexes that have become so popular. The CME says that the futures will combine CME Group’s options market data with the Chicago Board Options…

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Iamgold (NYSE:IAG) Names Enbridge (TSE:ENB) Exec as CEO

Filed in enbridge, Gold, Gold Prices, Iamgold, Joseph Conway, silver, Stephen Letwin by on September 8, 2010 0 Comments

Iamgold (NYSE:IAG) announced it has chosen former executive vice president for gas transportation and international at Enbridge Inc.(TSE:ENB), Stephen Letwin, to take over the reins of the company.Iamgold chairman William Pugliese said, “Steve brings a proven track record in both operations and acquisitions in a highly competitive sector of the resources industry. “I am confident he will deliver

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