Oil at $77 on OPEC's 50th Birthday

Source: UPI (9/14/10)

"Prices are right where OPEC stated is a reasonable price for now."

Crude oil prices in New York held above $77 per barrel Tuesday as stocks in Asia and Europe were mixed.

On the 50th anniversary of the Organization of Petroleum Exporting Countries, prices are right where OPEC has stated publicly is a reasonable price for now—between $70 and $80 per barrel.

Ahead of planned celebrations, OPEC President Abdulla Al Badri said Monday the 12-member oil-producing cartel was seeking stability in pricing.

On the New York Mercantile Exchange Tuesday, light, sweet crude for October delivery dropped $0.03 from a recent settlement to $77.16 per barrel. Reformulated blendstock gasoline shed $0.056 to $1.975 per gallon. Natural gas prices added $0.063 to $4.001 per million British thermal units.

At the pump, the national average price for unleaded gasoline was $2.717 per gallon Tuesday, up from Monday's $2.709, AAA said.

Announcing Streetwise Live! Events
Source: Streetwise Reports (07/13/2020)

Streetwise Reports is offering 100 investors—at no charge—the opportunity to meet via Zoom with executives of precious metals companies as they discuss recent developments at their companies and upcoming catalysts.

"China's export quota could be opportunity for Canadian miners"

Mexico: Gold's Next Powerhouse Player
Source: Marc Davis, BNW News (11/03/2009)

As the world's key gold producing nations struggle mostly in vain to replenish dwindling below-ground supplies, Mexico is bucking the trend in a big way.

Where Have All the Gold Mines Gone?
Source: Brent Cook, Exploration Insights (04/14/2009)

Given the declining global gold production, mining companies’ demand for reserve replacement and the acute dearth of new gold discoveries, there is no doubt that real economic discoveries will be exceptionally valuable. . .the opportunity for stellar profits is the best it has probably ever been. Identifying the few successes, however, will require vigilant and constant technical assessment of geology and drill results, always with an eye to mine economics.

Congo Completes Mining Review, Says Majors Quit Talks
Source: Reuters (12/20/2008)

"Review process is extended an additional 45 days to allow six companies to return to the negotiating table for direct talks with government ministers."