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Hilbroy Advisory: Oil above $111 as attacks damage Libyan oil fields
Hilbroy Advisory: Oil above $111 as attacks damage Libyan oil fields
Rebels were able to sell a shipment of 1 million barrels Wednesday but damage to their oil fields has all but halted production.
Montreal,
Quebec,
Canada
(prbd.net)
08/04/2011
Montreal, Quebec, April 7, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: Oil prices jumped above $111 a barrel Friday in Asia as fighting in Libya damaged oil fields in the OPEC nation and a weaker dollar made commodities cheaper for investors with other currencies.
Benchmark crude for May delivery was up $1.18 at $111.48 a barrel at late afternoon Singapore time, the highest since September 2008, in electronic trading on the New York Mercantile Exchange. The contract rose $1.47 to settle at $110.30 on Thursday.
In London, Brent crude for May delivery was up $1.59 to $123.85 a barrel on the ICE Futures exchange.
Crude output in Libya slowed to a trickle this week as forces loyal to Moammar Gadhafi attacked the country's largest oil field in the rebel-controlled east, rebels said. Most of Libya's 1.6 million barrels a day of crude production had already been shut down by nearly two months of fighting.
Rebels were able to sell a shipment of 1 million barrels Wednesday but damage to their oil fields has all but halted production. Output in the government-held west has collapsed as sanctions target Libyan state oil activities.
A weaker dollar also boosted oil prices since that makes dollar-based commodities such as crude cheaper for trader with other currencies. The euro rose to $1.4405 on Friday from $1.4306 late Thursday.
In other Nymex trading in May contracts, heating oil rose 3.4 cents to $3.24 a gallon and gasoline gained 2.7 cents to $3.21 a gallon. Natural gas futures were down 1.3 cents at $4.04 per 1,000 cubic feet.
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.
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