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09:23Last update on: 13 Aug 2013
The Namibian
Tue 13 Aug 2013
SMS Of The Day * THIS nation is in dire need of a massive conference on housing. When we experienced a crisis in the education sector a crisis-control brain-storming conference was organised which resulted in the best deal ever for the Namibian child, nam Food For Thought * BOURGEOISIE has become a daily occupation if not the order of the day of the upper-echelons, President Hifikepunye Pohamba we urge you to revisit this unpatriotic geocentricism among your staff and the well-connected, for everybody to r Bouquets And Brickbats * COMMISSIONER of Prisons, can you please explain the strategies you use to appoint officers to certain positions? It is my observation that you are being fed with wrong information then you just promote individuals without making p SMS Of The Day * I THINK Paulus ‘The Rock’ Ambunda lost his belt because of this promoter and trainer. How can a world champion still be training at the Katutura Youth Complex where there is not enough equipment. I think they must follow the example of Ha Food For Thought * NAMIBIA Dairies are unable to match low prices of imported milk and this ultimately means the consumer will have to pay more for local milk. Look at the prices of the local chicken. All these profits are going in the pockets of a few in Bouquets And Brickbats * I AM pleased to hear that Cabinet has responded positively to the proposal of Namibia Dairies to support the industry. The restrictions which support the industry by reducing competition to ensure the survival of the industry is a SMS Of The Day * CEO’s golden handshakes. Somewhere on our statute books there must be a provision that if a board of directors suspends/dismisses a CEO without due regard to legal provision (substantive/procedural law) such board must carry the costs for Food For Thought * JACKY Asheeke was so right with her last column- why are the fathers of the dead children not being prosecuted? (Reference to the children who died in shack fires last week) Our justice system still protects men over women. In this cont Bouquets And Brickbats * ALEXACTUS Kaure, your column in Friday’s newspaper opened my eyes. One hardly finds impartial case study analysers in Namibia. Let’s not destroy the Polytechnic’s strong foundation (Tjivikua) as yet. At least wait until the transf SMS Of The Day * WHY doesn’t NBC listen when they are criticised? The little red chairs on Good Morning Namibia have done their part and are dirty especially at the arm rests. Please listen for once. You interview professionals and internationals on those Food For Thought * MINISTRY of Education, in order to address the shortages of teachers at primary schools why don’t you consider employing us who hold a diploma in lifelong learning and community education for teaching posts? We also did health education Bouquets And Brickbats * MY fellow Namibians, I am not a Swapo member but a third term for President Hifikepuye Pohamba will be a step closer towards attainment of Vision 2030. Believe me His Excellency has made crucial bold decisions, and I don’t regret
POLL
What do you think of the renaming and addition of regions and constituencies?
Results so far:
Older Polls
BUSINESS - ECONOMY
| 2013-08-07
Brent slips towards US$108 as supply fears ease
BRENT futures slipped towards US$108 a barrel yesterday as supply fears from key exporters such as Libya eased, but losses were stemmed with a forecast fall in crude inventories in the world’s largest oil consumer the United States.
Libya’s Oil Minister Abdelbari al-Arusi said output had improved and the government was working to end protests at oil facilities.
His comments followed Iranian President Hassan Rouhani signalling a willingness to improve relations with the West and end a dispute over Tehran’s nuclear program, assuring investors that supply fears from key exporters were abating.
Brent crude slipped 26 cents to US$108, 46 by in early trading, sliding for a third day in its longest losing streak since end May. US oil fell 21 cents to US$106,35 after ending 38 cents down. It is also down for a third straight day.
“Oil prices are pretty expensive at these levels and I doubt we will see them going much higher from here. They are more likely to trade sideways,” said Tony Nunan, a risk manager at Mitsubishi Corp. “Some economic numbers out of the United States seem to suggest the US is slowing growing. That, and recent supply fears, have helped support prices.”
Nunan expects US$109 to be the next key resistance level for the US benchmark and US$110 for Brent.
Brent rose nearly 10% in about six weeks, touching US$110, 09 on Aug 2, the highest since early April, in part due to worries over supply from major exporters such as Libya and Iraq. Prices have begun coming off after Rouhani’s comments and as supply worries abate.
“Those outages and supply worries from the Middle East and Africa have provided support to oil,” Nunan said.
Brent is expected retest a support at US$107,40, with a good chance of breaking below this level and falling further, while US oil is expected to retest a support at US$105, 75, according to Reuters technical analyst Wang Tao.
Yet, further losses were checked on expectations US commercial crude and gasoline stockpiles fell last week, a preliminary Reuters poll showed.
Libya’s Oil Minister Abdelbari al-Arusi said output had improved and the government was working to end protests at oil facilities.
His comments followed Iranian President Hassan Rouhani signalling a willingness to improve relations with the West and end a dispute over Tehran’s nuclear program, assuring investors that supply fears from key exporters were abating.
Brent crude slipped 26 cents to US$108, 46 by in early trading, sliding for a third day in its longest losing streak since end May. US oil fell 21 cents to US$106,35 after ending 38 cents down. It is also down for a third straight day.
“Oil prices are pretty expensive at these levels and I doubt we will see them going much higher from here. They are more likely to trade sideways,” said Tony Nunan, a risk manager at Mitsubishi Corp. “Some economic numbers out of the United States seem to suggest the US is slowing growing. That, and recent supply fears, have helped support prices.”
Nunan expects US$109 to be the next key resistance level for the US benchmark and US$110 for Brent.
Brent rose nearly 10% in about six weeks, touching US$110, 09 on Aug 2, the highest since early April, in part due to worries over supply from major exporters such as Libya and Iraq. Prices have begun coming off after Rouhani’s comments and as supply worries abate.
“Those outages and supply worries from the Middle East and Africa have provided support to oil,” Nunan said.
Brent is expected retest a support at US$107,40, with a good chance of breaking below this level and falling further, while US oil is expected to retest a support at US$105, 75, according to Reuters technical analyst Wang Tao.
Yet, further losses were checked on expectations US commercial crude and gasoline stockpiles fell last week, a preliminary Reuters poll showed.
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(August 13)
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