August 28, 2006 -- Not only is the inventory of available housing in New York at a 10-year high, prices for properties are sliding in the opposite direction, as the sellers' market has all but faded into the sunset. (NY POST)
A big storm in the wrong part of the Gulf of Mexico could easily send oil prices to more than $80 a barrel quite quickly, according to Stuart. And in the longer term, $100 a barrel is not inconceivable, oil analysts have said recently. (Cameron Hanover oil analyst Jan Stuart.)
TEHRAN, Iran (AP) - Iran test fired a new submarine-to-surface missile during war games in the Persian Gulf on Sunday, a show of military might amid a standoff with the West over its nuclear activities. A brief video clip showed the long-range missile, called Thaqeb, or Saturn, exiting the water and hitting a target on the water's surface within less than a mile. The test came as part of large-scale military exercises that began Aug. 19.
ARAK, Iran (Reuters) - Iran's president launched a new phase in the Arak heavy-water reactor project on Saturday, saying Tehran would not give up its right to nuclear technology despite Western fears it aims to make atomic bombs. No one can deprive a nation of its rights based on its capabilities," Ahmadinejad said in his speech to inaugurate the heavy water project.
Aug. 28 (Bloomberg) -- The best-performing oil investment comes from trees in Malaysia, not the deserts of Saudi Arabia. Vegetable oils from palm trees normally used in Hellmann's mayonnaise and Snickers chocolate bars are being converted to diesel for Mack trucks after oil more than doubled in the past three years and governments encouraged renewable fuels. Palm oil reached a two-year high this month and rose 15 percent in the past year, outperforming the crude oil used for most diesel.
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