Business

Chris Cantell Discusses Business: Flimsy demand pushes oil prices down
by Lenka Filipova

Due to a substantial increase in oil and gasoline prices, the demand for petroleum goods has slumped as the report of Energy Information Administration announced. What is more, the supplies of oil is depressing more radically than it was expected.Yet, for the third day, the oil prices at the pump stations are being lowering whereas the diesel fuel is still pushing up. According to the information by EIA, the demand for oil declined by 3.2 percent in four weeks. The gasoline demand suffered too but in slighter amounts, that is only 1 percent decrease. On the New York Mercantile Exchange the April delivery of sweet crude and oil fell to $104.48 a barrel and $102.54 a barrel, respectively.At that moment, the oil oil prices slipped by 0.1 cent to a national average of $3.279 a gallon. The Oil Price Information station and AAA informed that the gas prices behaved accordingly but flattened out recently as oil price mounting ceased.Furthermore, the gas is 72 percent more expensive as it was last year. In addition to this, the analysts are quite skeptic, hence expecting its price to reach the peak of $3.50 to $4 a gallon.The whole situation is only additament to customers' sheepishness. They have already suffered from the rise in the food prices as well as the drop in the home values.As a matter of fact, the oil rise has had an impact on the jet fuel and diesel. Jet fuel rose to $3.21 a gallon at New York Harbor on Tuesday and diesel reached a record of $4.025 a gallon on Wednesday. Consequently, the airlines are considering the reductions incapacity and job positions. Moreover, some are thinking in terms of mergers in order to bear high fuel prices.

by Lenka Filipova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by: Katarina Bosanska

Labels: Business, CantellTV, Chris Cantell, Christopher Cantell, digital broadcasting, SigEx Foundry, SigEx Telecom

posted by Blog TechSource @ 7:13 AM