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SPC
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mike8057d
Veteran |
25-Feb-2008 14:49
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still on the positive territory |
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nickyng
Supreme |
25-Feb-2008 13:56
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hmm...let me SHORT it down to something more affordable for the masses ...hee... :D |
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ozone2002
Supreme |
25-Feb-2008 13:33
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Feb. 25 (Bloomberg) -- Crude oil rose for a second day in New York as tensions over Iran's nuclear ambitions and border clashes in Iraq raised concerns of supply disruptions from the producers of about 20 percent of OPEC output. Iran, the Organization of Petroleum Exporting Countries' second largest producer, yesterday threatened reprisals against any nation supporting new sanctions over its alleged nuclear weapons program, Agence-France Presse reported. Turkey pressed an assault against Kurdish rebels in northern Iraq, killing 112 militants since Feb. 21, the military said yesterday. ``When you get tensions in these areas, the market worries about the things that can go wrong,'' said David Moore commodity strategist at Commonwealth Bank of Australia Ltd. in Sydney. ``The scale of the Turkish operation became more apparent over the weekend so there's a bit of catch up with that.'' Crude oil for April delivery rose as much as 89 cents, or 0.9 percent, to $99.70 a barrel in electronic trading on the New York Mercantile Exchange. It was at $99.60 at 12:49 p.m. in Singapore. Prices reached a record $101.32 on Feb. 20. The April contract gained 58 cents to $98.81 on Feb. 22 after reports of the Turkish incursion. New York oil futures have gained 11 percent the past month, as signs of slowing demand in the U.S. prompted investors to buy commodities betting they will benefit from rising Asian demand. Brent crude for April settlement climbed as much as 91 cents, or 0.9 percent, to $97.92 a barrel on London's ICE Futures Europe exchange. It was at $97.80 at 12:51 p.m. Singapore time. The contract gained 0.8 percent to $97.01 on Feb. 22. Iran Sanctions Iran said that adopting a new resolution against its nuclear program would have ``a cost'' to the countries that support it, Agence-France Presse reported yesterday, citing Javad Vaeedi, a national security official. The International Atomic Energy Agency said on Feb. 22 that it shared with Iran intelligence from other nations alleging that the country researched how to make an atomic bomb. The group also said its inspectors didn't detect the use of nuclear materials in connection with the reports. The U.S., Britain and France have introduced a draft resolution to the United Nations Security Council that would impose new sanctions on Iran over its nuclear program. A vote on the draft is to be held this week. OPEC will either keep production unchanged or cut it next month, given rising inventories and an expected drop in demand, president Chakib Khelil said yesterday. OPEC Review OPEC produces about 40 percent of the world's oil and meets March 5 to review the group's production levels. The group is forecasting a drop in daily demand of close to 1.6 million barrels in the second quarter as global growth slows and heating demand in the Northern Hemisphere eases. ``If OPEC did cut output that would change everything, but I just don't see OPEC cutting output,'' said Rowan Menzies, head of research at Commodity Warrants Australia Ltd. ``The global economy just looks a little too fragile to be cutting output.'' The recent surge in oil prices is because of ``speculation and geopolitical problems'' and the expectation that OPEC will cut production, Khelil told reporters in Algeria yesterday. The group will either maintain current output or reduce it, he said. Hedge-fund managers and other large speculators raised their bets on higher oil prices for a second time last week, according to U.S. Commodity Futures Trading Commission data. Net-long positions, the difference between orders to buy and sell the commodity, rose 52 percent to 60,873 contracts, the highest in a month. |
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Livermore
Master |
25-Feb-2008 12:26
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Look at how the warrants fly man. SPC chart made a breakout last Thursday:) |
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zanetti
Member |
25-Feb-2008 11:28
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nono $8.85 is the target !!!!!!!!!!!! CHIONG AHHHHHHH i going SPC(thomson) to pump my petrol now, must support them more. |
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ozone2002
Supreme |
25-Feb-2008 11:11
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HEAVENLY...no $8 no sell |
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ozone2002
Supreme |
25-Feb-2008 08:54
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SPC TO CONTINUE ITS ASCEND TO THE HEAVENS! |
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idesa168
Elite |
24-Feb-2008 22:01
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I can't disagree with you much, Livermore, that crude is the most powerful commodity today. It is currently flirting around US$100 mark, infact it crossed that mark 3 times alreday. I strongly believe that this time it will cross that US$100 line and making it the support line for the near future. There are talks that Crude Oil be traded in Euro in Europe. Infact in Iran, they had started to trade Crude in their currency already since last week. What kind of support they get from the region is yet to be seen. This will definitely dampen the US$. Exporting US$ in the America contributed a certain part of the growth GDP in America. In another words, the US GDP is indirectly supported by the huge consumption of energy around the world, as the world traded Crude in US$. If the world is diverting the use of US$ to trade the Crude, we are sure this will rock the boat in the US. So be prepare to see US$ erodes in value in the coming future. SPC's earning is in US$. This will more or less affect the bottom line. But I do believe it will be supported and offsetted by the high demand in China and India and the rest of Asia. |
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Livermore
Master |
24-Feb-2008 20:09
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Remember one month ago, I was saying look at the warrant not the mother share |
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Livermore
Master |
24-Feb-2008 20:06
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Oil is now one of the most powerful commodity.Unfortunately there are a lot of politics going around oil. OPEC is contemplating the possibility of changing crude oil priced from US to Euro. If that happens, the US dollar could collapse. Right now SPC chart looks beautiful |
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zanetti
Member |
24-Feb-2008 19:49
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Iran's Oil Minister Gholam Hossein Nozari said on Saturday that Tehran would back a plan to cut oil production at next month's OPEC meeting, the oil ministry news agency Shana said. "Iran will support the policy of a production cut at the next OPEC meeting" due to be held on March 5 in Vienna, he said. "There has been always a periodic cut in the second quarter of the year, and it is predicted that OPEC will decrease its production at the next meeting." Iran is OPEC's number-two oil producer and exporter. OPEC earlier this month at an extraordinary meeting left its official daily output ceiling at 29.67 million barrels despite US calls for an output increase to reduce high oil prices that Western countries fear will stunt economic growth and fuel inflation. US President George W. Bush had personally called on the Organisation of Petroleum Exporting Countries and its kingpin Saudi Arabia to hike output in response to the continued strength in prices. The current OPEC president, Chekib Khelil of Algeria, said in February that the cartel would not approve an increase in output at its next ministerial meeting. |
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zanetti
Member |
22-Feb-2008 17:18
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ok as predicted, next target $8 by end of the month. CHIONG AHHhhhhhhhhh |
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ozone2002
Supreme |
22-Feb-2008 17:05
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SPC close 7.21!...shiok!...plus 40 c dividend.. |
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mike8057d
Veteran |
22-Feb-2008 14:04
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becoz SPC doesn't have the exploration and production business |
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ozone2002
Supreme |
22-Feb-2008 09:22
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wah...few mins SPC jump from 6.8 to 6.99!... oil power ahead la.. USD$200 haha SPC chiong chiong chiong...plus 40c dividend. |
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zanetti
Member |
21-Feb-2008 14:59
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if it closes above $7 today, probably it'll reach $8 by this month. If not better prepare to take profit soon. see if my prediction is right :) |
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idesa168
Elite |
20-Feb-2008 14:07
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I really hope SPC held on well in this mkt condition. It's up when all counters drop probably supported by the US$100 Oil. If not I guess it will go spiralling down with the rest. Vested... |
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zanetti
Member |
20-Feb-2008 00:01
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i'm wondering why does oil prices keep going up but SPC remain quite stagnant ? petrol companies like exxon mobil follows the oil prices but SPC seems quite different |
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limhpp
Veteran |
12-Feb-2008 16:15
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Yes, I am also waiting to buy at a lower price to get the dividends 
It is still early, Ex-date is on 25th Apr, long way to go. 
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mike8057d
Veteran |
12-Feb-2008 14:24
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Singapore Petroleum Cheapest valuations - highest dividend yield BUY; S$5.85 (Upgrade from Fully Valued); Price Target : 12-month S$ 7.27 (Prev S$ 6.85) |
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