| |
Newsroom /
Business
/
Business
/
Hilbroy Advisory: Oil prices hit highest level since September 2008
Hilbroy Advisory: Oil prices hit highest level since September 2008
Most of Libya's oil production has been shut down because of the crisis, and experts say the country's oil fields will be threatened as long as there's no clear leader in charge.
Montreal,
Quebec,
Canada
(prbd.net)
07/03/2011
Montreal, Quebec, March 4, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: Oil prices hit a 29-month high Friday after the government said the US unemployment rate fell to 8.9 per cent in February.
The Labour Department said the economy added 192,000 jobs last month. That suggests more people will be driving to work at a time when world oil supplies are under pressure because of the Libyan crisis and unrest in the Middle East.
Benchmark West Texas Intermediate crude for April delivery gained US$2 at US$103.91 a barrel in afternoon trading on the New York Mercantile Exchange. The price jumped to US$104.64 per barrel earlier in the session, the highest level since Sept. 29, 2008. In London, Brent crude added US$1.42 at US$116.21 per barrel on the ICE Futures Exchange.
In Libya, tensions escalated further on Friday as forces loyal to Moammar Gadhafi used tear gas to repel protesters in Tripoli. Most of Libya's oil production has been shut down because of the crisis, and experts say the country's oil fields will be threatened as long as there's no clear leader in charge.
Saudi Arabia has increased production to make up for the loss of Libyan crude, but a lengthy struggle could put significant pressure on world supplies. Traders are still concerned that the unrest in North Africa, which already has ousted leaders in Tunisia and Egypt, will encourage pro-reform protesters to dig in and further challenge neighbouring regimes in the Middle East.
North Africa and the Middle East are home to the largest oil producers in the world and export a quarter of the world's oil. Oil prices rose Friday as anxious traders prepared for the weekend. Two weeks ago, oil surged more than US$7 per barrel in electronic weekend trading, and prices are again climbing on the expectation that oil will jump before Monday trading begins.
Oil is getting more expensive as the economy of the world's largest oil consumer, the US, appears to be improving. Last month, employers hired at the fastest pace in almost a year, pushing the unemployment rate down to the lowest level since April 2009. Retailers reported surprisingly strong revenue gains in February and businesses ordered more manufactured goods from US factories in January.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
About
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
|