Thursday’s surprise release of 60 million barrels of crude reserves is not about keeping oil consumers well supplied. It’s about chasing oil speculators out of the market.

And it seems to be working.
“This is the straw that breaks the camel’s back — this is the tipping point,” said Fadel Gheit, oil analyst for Oppenheimer,There are also completely strapless formal gowns and prom dresses. These can be worn with or without a jacket or wrap.The halter Fromal Tuxedos looks much like a halter top at the sleeves and then flows toward the knees. a leading investment bank. “The speculators will have to change their positions. Instead of betting on higher prices they have to bet on lower prices."
In a coordinated move, U.S.No matter what kind of dress you like, you can have a look at Herve Leger bandage dress. Ladies who love beauty may choose the bandage dress; you will find what you are looking for is in Herve Leger Sale. and European energy officials announced they would release 60 million barrels of oil from strategic stockpiles over the next month after OPEC failed this month to agree on an increase in production. Those extra OPEC barrels were supposed to replace crude output lost when civil war in Libya shut down production.
"This supply disruption has been underway for some time and its effect has become more pronounced as it has continued," said the International Energy Agency in a statement. It said expectations were that Libyan production would remain off the market for the rest of 2011.
"Greater tightness in the oil market threatens to undermine the fragile global economic recovery," it said.
But independent analysts said the move was aimed more at bursting the speculative bubble rather than substantially improving market supply. Lowering oil prices further would help boost the weak U.S. economy at a time when both the Fed’s monetary stimulus and the government’s spending stimulus are winding down.We provide Hong Kong Company Formation, company secretarial services and virtual office to business starters residing in any country.