Industry News

Oil affected by political situation in Egypt.
Oil affected by political situation in Egypt. Image taken from http://www.telegraph.co.uk

Knowing your allergies can save your life

DECATUR, Ga. (MarketWatch) — An allergy to natural rubber latex may trigger a life-threatening reaction — including difficulty breathing, increased heart rate and low blood pressure — or it may simply cause an ugly, itchy, red rash.

That’s because there are different types of latex allergy. The dangerous “anaphylactic” Type I allergy is a potentially fatal immune-system reaction that affects multiple organ systems and can lead to death; avoiding it requires numerous precautions. But people who simply break out after contact with latex gloves or another latex product may have either irritant dermatitis (skin inflammation) or contact dermatitis (often called a Type IV allergy) which only affects the skin. (read on)

Latexx gears up on business strategy to capture market share in non-US markets

KUCHING: As one of the top five medical examination glove producers in the country, Latexx Partners Bhd (Latexx) will further gear up its aggressive strategy to advance its product presence and market share in other geographical markets besides the US.

Ultimately, Latexx aims to enlarge its revenue base by capturing more market share in the non-US markets. Its current customer base is very much centric to the US market, taking up approximately 70 per cent of the total sales. (read on)

A shift in dynamics has led to the exuberance in prices of key commodities

Major structural changes in the dynamics of the global commodities scene have propelled world commodities to staggering record prices.

Crude oil, gold, coal, iron ore, copper, soybean and wheat closed on a firm note last year registering price increases of between 30% and 50% but tin and rubber are charting new highs week after week. (read on)

Aklan to plant rubber trees

KALIBO, Aklan, Feb. 1 (PIA) — The province of Aklan is allotting 2 hectares of land for planting of rubber trees.

According to Aklan governor Carlito S. Marquez, rubber trees have good economic potential, being a rich source of latex.

The rubber plantation is also seen to help protect the environment by absorbing carbon dioxide, Governor Marquez said in his monthly report to the people aired over a local radio station here. (read on)

OIL FUTURES: Crude Nearly Flat As Egypt Worries Linger

NEW YORK (Dow Jones)–Crude futures settled nearly flat Wednesday as traders weighed rising U.S. fuel supplies against growing violence in Egypt, where unrest could threaten vital oil supply routes.

Light, sweet crude for March delivery settled 9 cents, or 0.1%, higher at $90.86 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 68 cents higher at $102.42 a barrel. (read on)

Crude Oil near 28-month high as riots add risk premium

Crude oil was little changed near its highest price in more than two years on concern that protests in Egypt may threaten exports from the Middle East.

Futures climbed as much as 1.1 per cent after clashes broke out today in central Cairo’s Tahrir Square between anti- government protesters and people loyal to President Hosni Mubarak. Prices retreated after an Energy Department report today showed that US crude-oil and gasoline supplies increased more than forecast last week. (read on)

Rising Oil Prices Threaten to  Wipe Out Airline Industry Profit, IATA Says

Oil prices at current levels will increase airline costs by more than this year’s projected earnings, threatening the industry’s return to profitability, the International Air Transport Association said.

IATA on Dec. 14 forecast carriers would log net income of $9.1 billion in 2011 based on oil at $84 a barrel. With crude trading $7 higher than that and every $1 increase boosting the fuel bill by $1.6 billion, costs could increase by $11 billion. (read on)

The Short View: Oil Industry Bracing  for Cuts

Viewers who tuned in to last week’s State of the Union address got an earful on energy policy, and where it’s headed. The takeaway: Obama is gung-ho for green initiatives, and gunning for oil.

Up to now, the oil industry has been able to benefit from substantial tax breaks to the tune of $4 billion a year, which purportedly help keep prices in check and preserve American jobs. But the president has been anxious to cut these deductions since his first year in office. (read on)

Watch out: oil still has the power to shock

How serious a problem is this, and how should policy makers react? The first thing to note is that high oil prices nearly always play some sort of role in recessions. In the US, all post-war recessions have been preceded by an oil price spike. The last all-consuming one is widely attributed to the fallout from Lehman Brothers’ collapse, but in fact record prices at the pumps had put consumer confidence and spending into a tailspin several months before. Lehman was only the icing on the cake – more of a symptom than a cause. Americans took one look at the price of filling up, and decided to stop spending. (read on)

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