Subscribe free to our newsletters via your
. Space Industry and Business News .




OIL AND GAS
Macroeconomic concerns drag on oil
by Daniel J. Graeber
New York (UPI) May 19, 2015


disclaimer: image is for illustration purposes only

Crude oil prices retreated heavily in early Tuesday trading on signs of a slowdown in the British economy and worries over the pace of global jobs growth.

Brent crude oil prices fell more than 1.5 percent from the previous close to $65.15 to start the trading day Tuesday. Brent started the month just above $66 per barrel.

Crude oil prices have recovered from early 2015 lows below the $50 per barrel mark on signs the global marketplace was starting to take up some of the excess supply. A weak recovery in the United States, however, has overshadowed some of the stability seen in Asia.

West Texas Intermediate, the U.S. benchmark, dropped 1.8 percent to $58.33, down about $1 per barrel from May 1.

While the broader European economy is showing slow, but steady, growth, the Bank of England said the consumer price inflation fell below zero for the first time since record-keeping of that type began in 1996.

Bank of England Gov. Mark Carney said low oil prices meant low fuel prices at the same time as the sterling appreciates. These factors explain most of the shortfall in inflation, though Carney said the situation should reverse through the second half of the year.

The International Labor Organization, meanwhile, said any global economic growth was largely uneven. In most reporting countries, ILO said part-time jobs outpaced gains in full-time jobs in the four years ending in 2013.

"The shift we're seeing from the traditional employment relationship to more non-standard forms of employment is in many cases associated with the rise in inequality and poverty rates in many countries," ILO Director-General Guy Ryder said in a statement. "What's more, these trends risk perpetuating the vicious circle of weak global demand and slow job creation that has characterized the global economy and many labor markets throughout the post-crisis period."


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








OIL AND GAS
Gazprom Neft issues upbeat report
Moscow (UPI) May 19, 2015
Russian energy company Gazprom Neft said Tuesday crude oil production was up year-on-year, driven largely by arctic and Iraqi developments.. The oil arm of Russian energy giant Gazprom reported a 1.3 percent decline in year-on-year sales, but a 3.5 percent rise in net profits. Sales from the fourth quarter were down 14.5 percent and no quarter-to-quarter figures were published for profi ... read more


OIL AND GAS
Tunable liquid metal antennas

Seashell strength inspires stress tests

Nanomaterials inspired by bird feathers turn light into color

Where the rubber meets the road

OIL AND GAS
Thales granted multiple-award IDIQ contract for Army radios

German ships receiving Indra's satellite communications terminals

French-Italian military communications satellite launched

Harris wins IDIQ contract for Rifleman Radio

OIL AND GAS
DirecTV-15 and SKY Mexico-1 integrated for Ariane 5 heavy-lift mission

Russia to Launch US Comms Satellite Into Space

Report: SpaceX Falcon 9 rocket certified to fly NASA missions

Fifth Vega takes shape for its flight with Sentinel-2A

OIL AND GAS
Advanced Navigation Releases Interface and Logging Unit

Raytheon delivers hardware for next-gen USAF GPS system

Russia, China Agree on Joint Exploitation of Glonass Navigation Systems

Most Advanced GPS Satellite Comes Together

OIL AND GAS
Airline chief casts doubt on plane hacking claim

Airbus warns of bug that could affect A400M engines

Navy tests Electromagnetic Aircraft Launch System

One US Marine dead, 21 hurt in 'hard landing'

OIL AND GAS
Cheap radio frequency antenna printed with graphene ink

Putting a new spin on plasmonics

3-D microbattery suitable for large-scale on-chip integration

Tuning up Rydberg atoms for quantum information applications

OIL AND GAS
Mischief makers prompt Google to halt public map edits

Space technology identifies vulnerable regions in West Africa

Breaking waves perturb Earth's magnetic field

ESA and ADS sign deal for new Copernicus Earth observation mission

OIL AND GAS
Wetlands continue to reduce nitrates

Bacteria the newest tool in detecting environmental damage

Mining pollution alters fish genetics in southwest England

Using microbial communities to assess environmental contamination




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.