Oil Prices Fall on Dubai News

Keith Kohl

Written By Keith Kohl

Posted November 28, 2009

Welcome to the Energy and Capital Weekend Edition — our insights in investing, as well as the top stories this week from Energy and Capital and our sister publications.


Although the week was considerably shorter with the holidays, there was no rest for oil prices… 
  • Even a positive Baker Hughes report wasn’t enough to push crude back over the $80 per barrel mark. In the report, the number of rigs drilling for oil and natural gas increased to 1,137. (If you’re counting, that’s 24 more rigs than a week ago.)
  • To date, oil prices have climbed approximately 80% this year. Meanwhile, natural gas prices have been stagnant over the last several months. Plagued with an overabundance of supply, the real recovery in natural gas may still be quite far down the road. Until the winter weather kicks in, we’re expecting prices to hover around $5 per Mcf.
  • During trading on Friday, oil prices fell as much as 7% on troubled news in Dubai. The government investment company Dubai World, which has about $59 billion in liabilities, tried to delay loan repayments. The news wasn’t taken lightly, as commodity investors rushed for the exit.


Enjoy your weekend,

Keith Kohl
Editor, Energy and Capital


P.S. In case you missed our top stories from this week’s Energy and Capital or our sister publications, I’ve included them below.

North Dakota’s Recession Proof Secret: How One State Side-Stepped the Financial Crisis
How do you sidestep a recession? Just ask North Dakota… All it takes is hard work and one of the fastest developing oil plays in the world. In this report, Energy and Capital reveals to readers how easy it is to profit from this recession-proof secret.

The Paris Basin Oil Shale: Hype or Substance?
Energy and Capital Editor Keith Kohl takes a closer look at one hyped shale play located a few miles away from the Eiffel Tower. What he discovers, however, could save your portfolio…

Greenland’s Gift: Controlling $273 Billion Worth of this Rare Earth Resource
In a few months, a chunk of arctic tundra will be the most sought-after piece of real estate in the world. At stake is more than $273 billion worth of rare resources that are critical to future technology. Energy and Capital tells you how you can secure your piece of the rare earth metals pie in this new report.

PowerMeter and Energy Efficiency: Google, the Electric Utility?
Energy and Capital Editor Nick Hodge discusses how Google is about to makes its first foray into the energy efficiency market.

Precious and Rare Earth Metal Stocks: This Year, I’m Thankful for a Commodities Bull Market
Wealth Daily Publisher Brian Hicks sits back and kicks his feet up as he tells readers what he’s thankful for this year.

Investing in First Edition Books: This Book’s Price Could Fly… If HBO Picks It Up
Wealth Daily‘s Adam Sharp reveals a first edition book that could skyrocket in value… based on one decision by HBO.

Investing in Energy Efficient Companies: Why Jim Rogers — CEO of Duke Energy — Is a Socialist
Wealth Daily Editor Nick Hodge reports from the GreenBeat 2009 conference. Here, he offers Jim Rogers’ view on the future of smart grid technology and the energy efficiency market.

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