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BBMF3123INTERNATIONALFINANCE
FinalFANWEIRFI2CHIAonMon,Jul062015,8:29PM
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safeassign.docxBeforewediscusswhycrudeoilisimportant,weneedtounderstandwhatcrudeoilisandwhatitisuseofway.
First,crudeoilisanaturallyoccurring,yellowtoblackliquidfoundingeologicalformationsbeneaththeEarth'ssurface,pumpedintoshipscalledtankers,andsailedacrosstheoceantooilrefineriesontheDelawareRiver. 1 ITISREFINEDANDSEPARATED,MOSTEASILYBYDISTILLATION,INTOALARGENUMBEROFCONSUMERPRODUCTS,FROMGASOLINEANDKEROSENETOASPHALTANDCHEMICALREAGENTSUSEDTOMAKEPLASTICSANDPHARMACEUTICALS.Crudeoilisusedinmanufacturingawidevarietyofmaterials,anditisestimatedthattheworldconsumesabout90millionbarrelseachday.
Russia,UnitedStates,andSaudiArabiaaretheworldtopthreecrudeoilproducers.AccordingtothedataofUSEnergyInformationAdministration(EIA)in2014,UnitedStates
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produce13973thousandbarrelsperday,SaudiArabiaproduce11624thousandbarrelsperdayandRussiaproduce10853thousandbarrelsperday.Wecanseethatthereishugeproductionofcrudeoildaybyday.Assupplydependsonthedemand,thereasonofwhytheproductionissohighitisbecausetheconsumption.Intheworldwide,thedailyconsumptionofcrudeoilis92.05millionbarrels.Theproductionisjusttocovertheconsumptiontightly.
Thefirstreasonofwhycrudeoilissoimportantisbecausecrudeoilproducthadinvolveinourdailylife.Petroleumproductsarematerialsderivedfromcrudeoilasitisprocessedinoilrefineries.Petroleumproductsarecomplexmixtures.Themajorityofpetroleumisconvertedtopetroleumproducts,whichincludesseveralclassesoffuels. 2 PETROLEUMPRODUCTSINCLUDETRANSPORTATIONFUELS,FUELOILSFORHEATINGANDELECTRICITYGENERATION,ASPHALTANDROADOIL,ANDTHEFEEDSTOCKUSEDTOMAKECHEMICALS,PLASTICS,ANDSYNTHETICMATERIALSFOUNDINNEARLYEVERYTHINGWEUSETODAY. 3 ABOUT74%OFTHE6.89BILLIONBARRELSOFPETROLEUMTHATWEUSEDIN2013WEREGASOLINE,HEATINGOIL/DIESELFUEL,ANDJETFUEL.
Othersproductsofcrudeoillikeclothing,furniture,insulation,kitchenitems.Carsandfoods. 4 PETROLEUMISUSEDTOHELPMAKECLOTHINGNONFLAMMABLEANDCOLORFUL.ITISUSEDINTHEPRODUCTIONOFRAYON,NYLON,POLYESTER,ANDEVENARTIFICIALFURS.COUCHCUSHIONSAREOFTENFILLEDWITHDURABLE,LIGHTWEIGHTPOLYURETHANEFOAM.CRUDEOILISALSOIMPORTANTINTHEPRODUCTIONOFYOURCARSHOSES,WIRING,ANDMANYFLUIDS(ANTIFREEZE,BRAKEFLUID,TRANSMISSIONFLUID,MOTOROIL,ANDLUBRICATINGGREASE).MANYOFOURFOODITEMSARESTOREDANDORPACKAGEDINPLASTICSASWELLMEANINGTHATCRUDEOILPLAYSALARGEPARTINTHEPRODUCTIONOFYOURFOOD.
THEPRICEOFCRUDEOILMEANSALOTMORETOUSTHANJUSTPAYINGAFEWDOLLARSMOREATTHEPUMP.ASWECANSEE,OILISIMPORTANT
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TOTHEPRODUCTIONANDTRANSPORTATIONOFMANYOFTHEITEMSTHATWEUSEONAREGULARBASIS.THISMEANSTHATMANYSECTORSOFTHEECONOMYWILLBEADVERSELYAFFECTEDBYINCREASINGOILPRICES.
Furthermore,crudeoilalsoplaysanimportantroleinfinancialmarket.Wecantradethecrudeoilfuturesinthemarketforinvestment. 5 LIKEEVERYCOMMODITY,CRUDEOILHASITSOWNTICKERSYMBOL,CONTRACTVALUEANDMARGINREQUIREMENTS.TOSUCCESSFULLYTRADEACOMMODITY,YOUMUSTBEAWAREOFTHESEKEYCOMPONENTS.FUTURESCONTRACTSFORCRUDEOILARETRADEDATTHENEWYORKMERCANTILEEXCHANGE(NYMEX),INTERCONTINENTALEXCHANGE(ICE),DUBAIMERCANTILEEXCHANGE(DME),MULTICOMMODITYEXCHANGE(MCX),INDIA'SNATIONALCOMMODITYANDDERIVATIVESEXCHANGE(NCDEX)ANDTHETOKYOCOMMODITYEXCHANGE(TOCOM).Crudeoilsfuturesaretradedat1000barrelspercontractunitandquotedatUSdollarandcents. 6 CRUDEOILFUTURESARELISTEDNINEYEARSFORWARDUSINGTHEFOLLOWINGLISTINGSCHEDULE:CONSECUTIVEMONTHSARELISTEDFORTHECURRENTYEARANDTHENEXTFIVEYEARSINADDITION,THEJUNEANDDECEMBERCONTRACTMONTHSARELISTEDBEYONDTHESIXTHYEAR.ADDITIONALMONTHSWILLBEADDEDONANANNUALBASISAFTERTHEDECEMBERCONTRACTEXPIRES,SOTHATANADDITIONALJUNEANDDECEMBERCONTRACTWOULDBEADDEDNINEYEARSFORWARD,ANDTHECONSECUTIVEMONTHSINTHESIXTHCALENDARYEARWILLBEFILLEDIN.
Thesettlementofcrudeoilfuturescanmakeintwoway,oneisdeliveryandtheotheroneistradeoffbeforethesettlementdate.Someownersarejusttotradethecrudeoilfuturesformakemoneyandsomeoftheownersareseekingtheneedofrawmaterials.
7 INJUNE2014,THEPRICEOFCRUDEOILWASUPAROUND$115PER
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BARREL.ASOFJANUARY23,2015,ITHADFALLENBYMORETHANHALF,DOWNTO$49PERBARREL:
FORMUCHOFTHEPASTDECADE,OILPRICESHAVEBEENHIGH,BOUNCINGAROUND$100PERBARRELSINCE2010BECAUSEOFSOARINGOILCONSUMPTIONINCOUNTRIESLIKECHINAANDCONFLICTSINKEYOILNATIONSLIKEIRAQ.OILPRODUCTIONINCONVENTIONALFIELDSCOULDN'TKEEPUPWITHDEMAND,SOPRICESSPIKED.
BUTBELOWTHESURFACE,MANYOFTHOSEDYNAMICSWERERAPIDLYSHIFTING.HIGHPRICESSPURREDCOMPANIESINTHEUSANDCANADATOSTARTDRILLINGFORNEW,HARDTOEXTRACTCRUDEINNORTHDAKOTA'SSHALEFORMATIONSANDALBERTA'SOILSANDS.THENOVERTHELASTYEAR,DEMANDFOROILINPLACESLIKEEUROPE,ASIA,ANDTHEUSBEGANTAPERINGOFF,CAUSEDBYTHEWEAKENINGECONOMIESANDNEWEFFICIENCYMEASURES.
BYENDOF2014,WORLDOILSUPPLYWASONTRACKTORISEMUCHHIGHERTHANACTUALDEMAND,ASTHECHARTBELOWFROMTHEINTERNATIONALENERGYAGENCYSHOWS.ALOTOFUNUSEDOILWASSIMPLYBEINGSTOCKPILEDAWAYFORLATER.SO,INSEPTEMBER,PRICESSTARTEDFALLINGSHARPLY.
ASPRICESSLID,MANYOBSERVERSWAITEDTOSEEWHETHEROPEC,THEWORLD'SLARGESTOILCARTEL,WOULDCUTBACKONPRODUCTIONTOPUSHPRICESBACKUP. 8 BUTATITSBIGMEETINGLASTNOVEMBER,OPECDIDNOTHING. 7 SAUDIARABIADIDN'TWANTTOGIVEUPMARKETSHAREANDREFUSEDTOCUTPRODUCTIONINTHEHOPESTHATLOWERPRICESWOULDHELPTHROTTLETHEUSSHALEBOOM.THATWASASURPRISE.SOOILWENTINTOFREEFALL.
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DURINGTHEMID2000S,OILPRICESWERERISINGSHARPLYBECAUSEGLOBALDEMANDWASSURGINGESPECIALLYINCHINAANDTHERESIMPLYWASN'TENOUGHOILPRODUCTIONTOKEEPUP.THATLEDTOLARGEPRICESPIKES,ANDOILFLOATEDAROUND$100PERBARRELBETWEEN2011AND2014. 8 ASOILPRICESINCREASED,MANYENERGYCOMPANIESFOUNDITPROFITABLETOBEGINEXTRACTINGOILFROMEVERYWHEREEVENITISDIFFICULTTODOSO. 7 INTHEUNITEDSTATES,COMPANIESBEGANUSINGTECHNIQUESLIKEFRACKINGANDHORIZONTALDRILLINGTOEXTRACTOILFROMSHALEFORMATIONSINNORTHDAKOTAANDTEXAS.INCANADA,COMPANIESWEREHEATINGALBERTA'SGOOEYOILSANDSWITHSTEAMTOEXTRACTUSABLECRUDE.THISLEDTOABOOMIN"UNCONVENTIONAL"oilproduction. 7 THEGLOBALCRUDEPRODUCTIONISABOUT75MILLIONBARRELSPERDAY,USALONEHASADDED4MILLIONEXTRABARRELSOFCRUDEOILPERDAYTOTHEGLOBALMARKETSINCE2008.
THEUSOILBOOMHADSURPRISINGLYLITTLEEFFECTONGLOBALPRICES.THATSBECAUSEATTHESAMETIME,GEOPOLITICALCONFLICTSWEREFLARINGUPINKEYOILREGIONS.THEREWASACIVILWARINLIBYA.THEUSANDEUSLAPPEDOILSANCTIONSONIRANANDPINCHEDITSOILEXPORTS.THOSECONFLICTSTOOKMORETHAN3MILLIONBARRELSPERDAYOFFTHEMARKET.BYMID2014,HOWEVER,THOSEOUTAGESANDCONFLICTSWERENOLONGERQUITEASIMPORTANT.PRODUCTIONINTHEUNITEDSTATESANDCANADAWASSTILLRISINGFASTANDTHEWORLD'SSUPPLYOFOILKEPTGROWING.
OILDEMANDINASIAANDEUROPESUDDENLYBEGANWEAKENING,THANKSTOSLOWDOWNSINCHINAANDGERMANY.MOREBROADLY,OILDEMANDHASBEENFLATLININGINLOTSOFPLACESAROUNDTHEWORLD.THEUNITEDSTATES,ONCETHEWORLD'SBIGGESTOIL
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CONSUMER,HASSEENGASOLINECONSUMPTIONSTAGNATEASCARSBECAMEMOREFUELEFFICIENT.ATTHESAMETIME,COUNTRIESLIKEINDONESIAANDIRANHAVEBEENCUTTINGBACKONSUBSIDIESFORFUELUSERS.THATCOMBINATIONOFWEAKERTHANEXPECTEDDEMANDANDSTEADILYRISINGSUPPLYCAUSEDOILPRICESTOSTARTDROPPINGFROMTHEIRJUNEPEAKOF$115PERBARRELDOWNTOAROUND$80PERBARRELBYMIDNOVEMBER.
SaudiArabiaistheKingdomofcrudeoil,itexertmoreinfluenceontheglobalcrudeoilpricethanothercountries.Asoilpricekeepsgoingtodrop,everyonetryingtowraptheirheadsaroundthereasonsespeciallytothecountrythatdependsoncrudeoilasamajorincomessuchasMalaysia.Ifdecreaseofthecrudeoilprice,ThereisahugeimpacttoMalaysiaseconomic.Accordingtoourfinding,wefoundthattherearemanyreasonscancausethefluctuationofthecrudeoilpricesuchassupplyanddemandeffectandothers.
Oneofthemajoreffectsissupplyanddemandthatdrivescrudeoilpricesupanddown.Theentireprocessofoilconsiderspurelyelasticsacommodityastheeverymovementoftheproductionandconsumptionsidescanreflectedintheprice. 9 NORMALLY,PRODUCERANDCONSUMERWILLADJUSTTHEIRSUPPLYANDCONSUMPTIONRELIESONPRICESTOFUNCTIONASACCURATESIGNALS.YET,CRUDEOILISTHEMOSTWIDELYTRADEDCOMMODITYANDFLUCTUATINGCANAFFECTNATIONALECONOMIES.Tosecureallthesefluctuationriskofprice,therearemanybusinessestakeadvantagesoffuturesmarkettoguardthemselvesagainstthemovementofpriceandthespeculatorscomeinforspeculation.9 ACCORDINGONEOFTHEARTICLES,THEWRITERMENTIONEDABOUTTHEPETRONOMISTSECONOMISTWILLNOTONLYUNDERLYINGTHETHEORYSUPPLYANDDEMANDAFFECTSPRICESBUTALSOMENTIONEDHOWTHEFUTURESCONTRACTCOULDDOMINATETHEPRICEOFCRUDEOIL.
Fromthepreviousstudied,welearnedaboutsupplyanddemandcurves.Wherebothof
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thesecurvesshowtherelationshipbetweenpriceandquantityoftheoilproducerareavailabletosellorbuy. 9 ASTUDYOFSUPPLYLAWISTHATCRUDEOILPRICEINCREASEASTHEPRODUCERWILLREACTBYRISETHEPRODUCTIONTOGAINMOREPROFIT.However,ifoilpricesdropwhensupplywithahugeshrink,thenproducerstartstoreducetheproductionandcuttheirlosses.
Graph: 9 OILSUPPLYSHIFT
Thegraphshowsthecrudeoilpricecurvescanshiftpositionandifthesupplycurveshiftstoright(SS1toSS2),thismeansthatisanincreaseoilsupplythereforethepricealsoshiftedtoright(P1toP2)andquantityofcrudeoilalsoincreaseassupplyincrease(Q1toQ2).
Afterthesupplyssideeffectandnowweregoingtodiscussaboutthedemandseffect.Theoryofdemandisthecrudeoilpricedecreaseandthesupplystillabundant,theconsumerlikeChinawillrespondedbyaddingmoreconsumptiontostore.Inasimplemeansthatwhencheaperoilbecomesmoreconsumerstobuy.Besides,thenumberofdemandofcrudeoilpricealsoplaysanimportantrole.AccordingtosourceofUSEIA,recentlythenumberofdemandincreaserapidly,OrganizationforEconomiesCorporationandDevelopment(OECD),economiessaysitmakeupabout66%ofthetotalworlddemand.Theroseofdemandfrom60mbarrelsto85mbarrelsperdaysbetween1980and2008andworlddemandincreasesharplyaround40%.
Well,letusquestionourselveswhatfactorcaninfluencethedemand?Theansweristheentireeconomicgrowth.Economicgrowthisthemajorfactorcanshiftthedemandupordown. 9 OVERTHEPASTDECADE,ASIAISTHEREGIONWITHFASTESTDEMANDGROWTHAMONGOTHERREGIONSANDITCONTRIBUTED56%OFTHEGLOBALOILDEMAND.
ChinaisthesecondworldslargestoilconsumeranditsurpassedtheUSasthelargestimporteroffuelinyear2013.TheChinesetransportsectorincreaseleadastronggaininconsumesofcrudeoil.Themotorgasolinegrowthindicatesarecoverofgenerallyslowing
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domesticeconomicgrowth.However,thetransportfueldemandwasroseasconsumerconfidence.Itshowsthatcontinuetoexpandeventhoughthesteadilyslowdomesticeconomy.
7 (SOURCESOFIEA,INTERNATIONALENERGYAGENCY)
Accordingtotheresearch,unexpectedweatherisanissuethataffectsoilsupply. 10DURING2005,AHURRICANEKATRINAWASDAMAGEDTOU.SANDCEASEDTHEOILPRODUCTIONALONGTHESOTHERNGULFCOASTINMEXICO.ASDEMANDREMAINEDUNCHANGEDBUTTHESUPPLYWERETREMENDOUSLYCUT,THEREFORETHEOILPRICESRAISEDOVER$70PERBARRELINAPERIODOFTIME. 9 DUETOTHISREASON,THEPRESIDENTBUSHWASDECIDEDSPREADOUTTHE30MILLIONGALLONFROMTHECOUNTRYSSTRATEGICPETROLEUMRESERVE(SPR)ANDBROUGHTBACKTHEOILANDMAKESURETHEPRICEGOESDOWN.
PETRONASsarticlewastoldthattheoilpricefallisnotreducingthesupply.Theadverseofexpectations,thefallofcrudeoilpriceisnotdeductingofthecrudeoilproductionguidance.However,thecontendisbetweenSaudiArabia,anincrementalofUSshaleproducersanddecidedtodefineitsmarketsharesbySaudiArabia.Besides,about11USshaleproducerswithmorethan20,000BOEperdaywereannouncedtocutoffthecapitalexpenditureandonlytwoofthemhaveprojectedflatin2015output,whiletherestprojectingin43%ofproductiongrowth.(Figure5).Thisgrowthisbecauseoftheexplorationcostwasoccurredanditsoftenthelargestpartoftotalcosts.Regardedassunkcost,theproductioncostisvariableandhaslittleeffectontheprice.(Figure6).
Last,theimpactofderivativesmarketandmarketperceptionthatinfluencethecrudeoilprice.Thefluctuationofoilpricesareexposedbytheoilproducerandconsumertotheriskbroughtbythesefluctuations.Afuturecontractcanprovideinsurancefortheproducerandconsumertominimizetheriskbutthisfuturecontractrequiresapremium.Thespeculatorsarenotbuyingtheactualcommodityfromtheproducerbuttheyjusttradewithinthe
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derivativemarkettoearnprofits.Inyear2008,theoilpricewasroseover$145perbarrelanditwasduetotheoilsuppliersunabletoconvincebuyersthattheywouldproperlydelivertheoilintheagreeddate.Although,therewasnointerruptionofsupplysside,however,basedontheundeliveredperceptionwasstronglyinfluencethefuturetrading,asaresult,thiswasartificiallyhikedupthecrudeoilprice.
Wherethereisanincreaseincrudeoilprices,itbenefittothoseexporterofcrudeoilwhichincludedSaudiArabia,Russia,UnitedArabEmirates,Iraq,Nigeriaandothers. 11CRUDEOILISPROCESSEDINREFINERIESTOMAKEGASOLINE,DIESEL,HEATINGOIL,JETFUEL,LUBRICANTS,PETROCHEMICALFEEDSTOCKSANDOTHERPETROLEUMPRODUCTS.PETROLEUMPRODUCTPRICESTENDTOMOVETOGETHERWITHCRUDEOILPRICES,WITHSOMEVARIATIONDUETOSEASONALITY,FACTORSSPECIFICTOTHEMARKETFORAPARTICULARPRODUCT,ORREFININGOUTAGES.Risingofcrudeoilpriceswillincreasethetransportationcostfortheconsumerandalsoindustrythathighlyrelyoncrudeoil,whentheoilpriceincreased,consumerandothersectorwhohavehighdemandofcrudeoilwillsuffers.Bothofthemwillhaveahighercostofoperating,fromconsumerperspectivetheytendstohavelesserdisposableincometospendorinvestinthemarket,fromthesectorwhoinvolvedhighusageofcrudeoilwillhaveahighercostwhichwilllimitthegrowthofthesector.
Ifthecrudeoilpricesfall,itwillbenefitfortheimporterwhichincludedUnitedStates,Japan,China,SouthKorean,Indiaandothersbecausetheyfinditcheapertoimport.Forexportingsectorwhousuallyhaveahighersensitivitytocrudeoilpricemovementwillhaveloweroperatingcostwhencrudeoilpricesfallhencereportapositiveearningintheirfinancialstatement.Nevertheless,consumerwouldbebenefitfromthedeclininginpetroleumpriceiftheparticularcountryallowsfloatingoilpriceaccordingtotheworldpricemovementofcrudeoil.Countriesthathighlydealwithcrudeoilpricearethemostaffectedbythedecliningofcrudeoilpriceandcreateatremendousdamagetothepetroleumindustryandallofthemwillreportanegativeearnings,foreigninvestorswilllostconfidence
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towardsthemarketandwillexitorreducethefundinvestedinthemarketthusthecurrencyofthecountrieswhohighlyrelyonoilandgassectorwillfallaccordingly.
12 SINCEWORLDCRUDEOILMARKETPRICESHITHISTORICHIGHSIN2008,PRICESDECLINEDBYABOUT70%IN2009,THENDOUBLEDBY2011,ANDTHENDECREASEDBYOVER20%DURING2014
Citations(12/12)
MatchedText
1 Anotherstudent'spaper
2 Anotherstudent'spaper
3 Anotherstudent'spaper
4 http://www.biblemoneymatters.com/7importantusesforcrudeoilandwhyitmatters/
5 http://www.investopedia.com/university/commodities/commodities6.asp
6 https://www.cannontrading.com/tools/futuresmarket/energies/WTILightSweetCrudeOilFutures
7 http://www.vox.com/2014/12/16/7401705/oilpricesfalling
8 http://www.observer.org.sz/business/69334whyoilpriceskeepfalling.html
9 http://petronomist.com/oilpriceanalysis2/
10 http://oilprice.com/Energy/OilPrices/WhatAffectsOilPrices.html
11 http://www.eia.gov/finance/markets/spot_prices.cfm
12 http://www.theenergycollective.com/jemillerep/2146151/aredecliningoilpricesincreasingrisksopecusenergysecurityorcleanfuels
SuspectedEntry:75%match
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Uploadedsafeassign.docxITISREFINEDANDSEPARATED,MOSTEASILYBYDISTILLATION,INTOALARGENUMBEROFCONSUMERPRODUCTS,FROMGASOLINEANDKEROSENETOASPHALTANDCHEMICALREAGENTSUSEDTOMAKEPLASTICSANDPHARMACEUTICALS
SourceAnotherstudent'spaperPetroleumisrefinedandseparated,mosteasilybydistillationintoalargenumberofconsumerproductslikegasoline,materialusedtomakeplasticsandmore
SuspectedEntry:100%match
Uploadedsafeassign.docxPETROLEUMPRODUCTSINCLUDETRANSPORTATIONFUELS,FUELOILSFORHEATINGANDELECTRICITYGENERATION,ASPHALTANDROADOIL,ANDTHEFEEDSTOCKUSEDTOMAKECHEMICALS,PLASTICS,ANDSYNTHETICMATERIALSFOUNDINNEARLYEVERYTHINGWEUSETODAY
SourceAnotherstudent'spaperPetroleumproductsincludetransportationfuels,fueloilsforheatingandelectricitygeneration,asphaltandroadoil,andthefeedstockusedtomakechemicals,plastics,andsyntheticmaterialsfoundinnearlyeverythingweusetoday
SuspectedEntry:81%match
Uploadedsafeassign.docxABOUT74%OFTHE6.89BILLIONBARRELSOFPETROLEUMTHATWEUSEDIN2013WEREGASOLINE,HEATINGOIL/DIESELFUEL,ANDJETFUEL
SourceAnotherstudent'spaperInaddition,75%ofthe6.79billionbarrelsofpetroleumthatweusedin2012weregasoline,heatingoil/dieselfuel,andjetfuel(2013)
SuspectedEntry:93%match
Uploadedsafeassign.docxPETROLEUMISUSEDTOHELPMAKECLOTHINGNONFLAMMABLEANDCOLORFUL
Sourcehttp://www.biblemoneymatters.com/7importantusesforcrudeoilandwhyitmatters/ClothingPetroleumisusedtohelpmakeclothingnonflammableandcolorful
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Uploadedsafeassign.docxITISUSEDINTHEPRODUCTIONOFRAYON,NYLON,POLYESTER,ANDEVENARTIFICIALFURS
Sourcehttp://www.biblemoneymatters.com/7importantusesforcrudeoilandwhyitmatters/Itisusedintheproductionofrayon,nylon,polyester,andevenartificialfurs
SuspectedEntry:80%match
Uploadedsafeassign.docxCOUCHCUSHIONSAREOFTENFILLEDWITHDURABLE,LIGHTWEIGHTPOLYURETHANEFOAM
Sourcehttp://www.biblemoneymatters.com/7importantusesforcrudeoilandwhyitmatters/FurnitureAccordingtoConocoPhillips,couchcushionsareoftenfilledwithdurable,lightweightpolyurethanefoam
SuspectedEntry:96%match
Uploadedsafeassign.docxCRUDEOILISALSOIMPORTANTINTHEPRODUCTIONOFYOURCARSHOSES,WIRING,ANDMANYFLUIDS(ANTIFREEZE,BRAKEFLUID,TRANSMISSIONFLUID,MOTOROIL,ANDLUBRICATINGGREASE)
Sourcehttp://www.biblemoneymatters.com/7importantusesforcrudeoilandwhyitmatters/Crudeoilisalsoimportantintheproductionofyoucarshoses,wiring,andmanyfluids(antifreeze,brakefluid,transmissionfluid,motoroil,andlubricatinggrease)
SuspectedEntry:100%match
Uploadedsafeassign.docxMANYOFOURFOODITEMSARESTOREDANDORPACKAGEDINPLASTICSASWELL
Sourcehttp://www.biblemoneymatters.com/7importantusesforcrudeoilandwhyitmatters/Manyofourfooditemsarestoredandorpackagedinplasticsaswell
SuspectedEntry:100%match
Uploadedsafeassign.docx Sourcehttp://www.biblemoneymatters.com/7
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MEANINGTHATCRUDEOILPLAYSALARGEPARTINTHEPRODUCTIONOFYOURFOOD
importantusesforcrudeoilandwhyitmatters/meaningthatcrudeoilplaysalargepartintheproductionofyourfood
SuspectedEntry:89%match
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Sourcehttp://www.biblemoneymatters.com/7importantusesforcrudeoilandwhyitmatters/WhatThisMeansForUsThepriceofcrudeoilmeansalotmoretousthanjustpayingafewdollarsmoreatthepump
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Uploadedsafeassign.docxASWECANSEE,OILISIMPORTANTTOTHEPRODUCTIONANDTRANSPORTATIONOFMANYOFTHEITEMSTHATWEUSEONAREGULARBASIS
Sourcehttp://www.biblemoneymatters.com/7importantusesforcrudeoilandwhyitmatters/Aswecansee,oilisimportanttotheproductionandtransportationofmanyoftheitemsthatweuseonaregularbasis
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Sourcehttp://www.biblemoneymatters.com/7importantusesforcrudeoilandwhyitmatters/Thismeansthatmanysectorsoftheeconomywillbeadverselyaffectedbyincreasingoilprices,orhelpedwhentheygodown
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Sourcehttp://www.investopedia.com/university/commodities/commodities6.aspUnderstandingCrudeOilContractsLikeeverycommodity,crudeoilhasitsowntickersymbol,
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contractvalueandmarginrequirements
SuspectedEntry:69%match
Uploadedsafeassign.docxTOSUCCESSFULLYTRADEACOMMODITY,YOUMUSTBEAWAREOFTHESEKEYCOMPONENTS
Sourcehttp://www.investopedia.com/university/commodities/commodities6.aspTosuccessfullytradeacommodity,youmustbeawareofthesekeycomponentsandunderstandhowtousethemtocalculateyourpotentialprofitsandloss
SuspectedEntry:91%match
Uploadedsafeassign.docxFUTURESCONTRACTSFORCRUDEOILARETRADEDATTHENEWYORKMERCANTILEEXCHANGE(NYMEX),INTERCONTINENTALEXCHANGE(ICE),DUBAIMERCANTILEEXCHANGE(DME),MULTICOMMODITYEXCHANGE(MCX),INDIA'SNATIONALCOMMODITYANDDERIVATIVESEXCHANGE(NCDEX)ANDTHETOKYOCOMMODITYEXCHANGE(TOCOM)
Sourcehttp://www.investopedia.com/university/commodities/commodities6.aspCrudeOilExchangesFuturescontractsforcrudeoilaretradedattheNewYorkMercantileExchange(NYMEX),IntercontinentalExchange(ICE),DubaiMercantileExchange(DME),MultiCommodityExchange(MCX),India'sNationalCommodityandDerivativesExchange(NCDEX)andtheTokyoCommodityExchange(TOCOM)
SuspectedEntry:90%match
Uploadedsafeassign.docxCRUDEOILFUTURESARELISTEDNINEYEARSFORWARDUSINGTHEFOLLOWINGLISTINGSCHEDULE
Sourcehttps://www.cannontrading.com/tools/futuresmarket/energies/WTILightSweetCrudeOilFuturesListedContractsCrudeoilfuturesarelistednineyearsforwardusingthefollowinglistingschedule
SuspectedEntry:100%match
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Sourcehttps://www.cannontrading.com/tools/futuresmarket/energies/WTILightSweetCrudeOilFuturesconsecutivemonthsarelistedforthecurrentyearandthenextfiveyears
SuspectedEntry:100%match
Uploadedsafeassign.docxINADDITION,THEJUNEANDDECEMBERCONTRACTMONTHSARELISTEDBEYONDTHESIXTHYEAR
Sourcehttps://www.cannontrading.com/tools/futuresmarket/energies/WTILightSweetCrudeOilFuturesinaddition,theJuneandDecembercontractmonthsarelistedbeyondthesixthyear
SuspectedEntry:100%match
Uploadedsafeassign.docxADDITIONALMONTHSWILLBEADDEDONANANNUALBASISAFTERTHEDECEMBERCONTRACTEXPIRES,SOTHATANADDITIONALJUNEANDDECEMBERCONTRACTWOULDBEADDEDNINEYEARSFORWARD,ANDTHECONSECUTIVEMONTHSINTHESIXTHCALENDARYEARWILLBEFILLEDIN
Sourcehttps://www.cannontrading.com/tools/futuresmarket/energies/WTILightSweetCrudeOilFuturesAdditionalmonthswillbeaddedonanannualbasisaftertheDecembercontractexpires,sothatanadditionalJuneandDecembercontractwouldbeaddednineyearsforward,andtheconsecutivemonthsinthesixthcalendaryearwillbefilledin
SuspectedEntry:86%match
Uploadedsafeassign.docxINJUNE2014,THEPRICEOFCRUDEOILWASUPAROUND$115PERBARREL
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingBackinJune2014,thepriceofBrentcrudewasuparound$115perbarrel
SuspectedEntry:100%match
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Uploadedsafeassign.docxASOFJANUARY23,2015,ITHADFALLENBYMORETHANHALF,DOWNTO$49PERBARREL
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingAsofJanuary23,2015,ithadfallenbymorethanhalf,downto$49perbarrel
SuspectedEntry:100%match
Uploadedsafeassign.docxFORMUCHOFTHEPASTDECADE,OILPRICESHAVEBEENHIGH,BOUNCINGAROUND$100PERBARRELSINCE2010BECAUSEOFSOARINGOILCONSUMPTIONINCOUNTRIESLIKECHINAANDCONFLICTSINKEYOILNATIONSLIKEIRAQ
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingFormuchofthepastdecade,oilpriceshavebeenhighbouncingaround$100perbarrelsince2010becauseofsoaringoilconsumptionincountrieslikeChinaandconflictsinkeyoilnationslikeIraq
SuspectedEntry:83%match
Uploadedsafeassign.docxOILPRODUCTIONINCONVENTIONALFIELDSCOULDN'TKEEPUPWITHDEMAND,SOPRICESSPIKED
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingOilproductioninconventionalfieldscouldn'tkeepupwithdemand,sopricesspiked
SuspectedEntry:86%match
Uploadedsafeassign.docxBUTBELOWTHESURFACE,MANYOFTHOSEDYNAMICSWERERAPIDLYSHIFTING
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingButbeneaththesurface,manyofthosedynamicswererapidlyshifting
SuspectedEntry:83%match
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Uploadedsafeassign.docxHIGHPRICESSPURREDCOMPANIESINTHEUSANDCANADATOSTARTDRILLINGFORNEW,HARDTOEXTRACTCRUDEINNORTHDAKOTA'SSHALEFORMATIONSANDALBERTA'SOILSANDS
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingHighpricesspurredcompaniesintheUSandCanadatostartdrillingfornew,hardtoextractcrudeinNorthDakota'sshaleformationsandAlberta'soilsands
SuspectedEntry:93%match
Uploadedsafeassign.docxTHENOVERTHELASTYEAR,DEMANDFOROILINPLACESLIKEEUROPE,ASIA,ANDTHEUSBEGANTAPERINGOFF,CAUSEDBYTHEWEAKENINGECONOMIESANDNEWEFFICIENCYMEASURES
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingThen,overthelastyear,demandforoilinplaceslikeEurope,Asia,andtheUSbegantaperingoff,thankstoweakeningeconomiesandnewefficiencymeasures
SuspectedEntry:95%match
Uploadedsafeassign.docxBYENDOF2014,WORLDOILSUPPLYWASONTRACKTORISEMUCHHIGHERTHANACTUALDEMAND,ASTHECHARTBELOWFROMTHEINTERNATIONALENERGYAGENCYSHOWS
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingBylate2014,worldoilsupplywasontracktorisemuchhigherthanactualdemand,asthechartbelowfromtheInternationalEnergyAgencyshows
SuspectedEntry:100%match
Uploadedsafeassign.docxALOTOFUNUSEDOILWASSIMPLYBEINGSTOCKPILEDAWAYFORLATER
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingAlotofunusedoilwassimplybeingstockpiledawayforlater
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SuspectedEntry:100%match
Uploadedsafeassign.docxSO,INSEPTEMBER,PRICESSTARTEDFALLINGSHARPLY
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingSo,inSeptember,pricesstartedfallingsharply
SuspectedEntry:91%match
Uploadedsafeassign.docxASPRICESSLID,MANYOBSERVERSWAITEDTOSEEWHETHEROPEC,THEWORLD'SLARGESTOILCARTEL,WOULDCUTBACKONPRODUCTIONTOPUSHPRICESBACKUP
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingAspricesslid,manyobserverswaitedtoseewhetherOPEC,theworld'slargestoilcartel,wouldcutbackonproductiontopushpricesbackup
SuspectedEntry:91%match
Uploadedsafeassign.docxSAUDIARABIADIDN'TWANTTOGIVEUPMARKETSHAREANDREFUSEDTOCUTPRODUCTIONINTHEHOPESTHATLOWERPRICESWOULDHELPTHROTTLETHEUSSHALEBOOM
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingSaudiArabiadidn'twanttogiveupmarketshareandrefusedtocutproductioninthehopesthatlowerpriceswouldhelpthrottletheUSshaleboom
SuspectedEntry:100%match
Uploadedsafeassign.docxTHATWASASURPRISE
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingThatwasasurprise
SuspectedEntry:99%match
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Uploadedsafeassign.docxSOOILWENTINTOFREEFALL
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingSooilwentintofreefall
SuspectedEntry:84%match
Uploadedsafeassign.docxDURINGTHEMID2000S,OILPRICESWERERISINGSHARPLYBECAUSEGLOBALDEMANDWASSURGINGESPECIALLYINCHINAANDTHERESIMPLYWASN'TENOUGHOILPRODUCTIONTOKEEPUP
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingOilpriceswererisingsharplybecauseglobaldemandwassurgingespeciallyinChinaandtheresimplywasn'tenoughoilproductiontokeepup
SuspectedEntry:91%match
Uploadedsafeassign.docxTHATLEDTOLARGEPRICESPIKES,ANDOILFLOATEDAROUND$100PERBARRELBETWEEN2011AND2014
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingThatledtolargepricespikes,andoilhoveredaround$100perbarrelbetween2011and2014
SuspectedEntry:99%match
Uploadedsafeassign.docxINTHEUNITEDSTATES,COMPANIESBEGANUSINGTECHNIQUESLIKEFRACKINGANDHORIZONTALDRILLINGTOEXTRACTOILFROMSHALEFORMATIONSINNORTHDAKOTAANDTEXAS
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingIntheUnitedStates,companiesbeganusingtechniqueslikefrackingandhorizontaldrillingtoextractoilfromshaleformationsinNorthDakotaandTexas
SuspectedEntry:86%match
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Uploadedsafeassign.docxINCANADA,COMPANIESWEREHEATINGALBERTA'SGOOEYOILSANDSWITHSTEAMTOEXTRACTUSABLECRUDE
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingInCanada,companieswereheatingAlberta'sgooeyoilsandswithsteamtoextractusablecrude
SuspectedEntry:93%match
Uploadedsafeassign.docxTHISLEDTOABOOMIN"UNCONVENTIONAL"
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingThisledtoaboomin"unconventional"
SuspectedEntry:78%match
Uploadedsafeassign.docxTHEGLOBALCRUDEPRODUCTIONISABOUT75MILLIONBARRELSPERDAY,USALONEHASADDED4MILLIONEXTRABARRELSOFCRUDEOILPERDAYTOTHEGLOBALMARKETSINCE2008
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingTheUSalonehasadded4millionextrabarrelsofcrudeoilperdaytotheglobalmarketsince2008
SuspectedEntry:79%match
Uploadedsafeassign.docxTHEUSOILBOOMHADSURPRISINGLYLITTLEEFFECTONGLOBALPRICES
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingUpuntilveryrecently,however,thatUSoilboomhadsurprisinglylittleeffectonglobalprices
SuspectedEntry:95%match
Uploadedsafeassign.docxTHATSBECAUSEATTHESAMETIME,
Sourcehttp://www.vox.com/2014/12/16/7401705/oilprices
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GEOPOLITICALCONFLICTSWEREFLARINGUPINKEYOILREGIONS
fallingThat'sbecause,attheexactsametime,geopoliticalconflictswereflaringupinkeyoilregions
SuspectedEntry:100%match
Uploadedsafeassign.docxTHEREWASACIVILWARINLIBYA
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingTherewasacivilwarinLibya
SuspectedEntry:100%match
Uploadedsafeassign.docxTHEUSANDEUSLAPPEDOILSANCTIONSONIRANANDPINCHEDITSOILEXPORTS
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingTheUSandEUslappedoilsanctionsonIranandpincheditsoilexports
SuspectedEntry:100%match
Uploadedsafeassign.docxTHOSECONFLICTSTOOKMORETHAN3MILLIONBARRELSPERDAYOFFTHEMARKET
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingThoseconflictstookmorethan3millionbarrelsperdayoffthemarket
SuspectedEntry:100%match
Uploadedsafeassign.docxBYMID2014,HOWEVER,THOSEOUTAGESANDCONFLICTSWERENOLONGERQUITEASIMPORTANT
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingBymid2014,however,thoseoutagesandconflictswerenolongerquiteasimportant
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SuspectedEntry:86%match
Uploadedsafeassign.docxPRODUCTIONINTHEUNITEDSTATESANDCANADAWASSTILLRISINGFASTANDTHEWORLD'SSUPPLYOFOILKEPTGROWING
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingProductionintheUnitedStatesandCanadawasstillrisingfastandtheworld'ssupplyofoilkeptgrowing
SuspectedEntry:90%match
Uploadedsafeassign.docxOILDEMANDINASIAANDEUROPESUDDENLYBEGANWEAKENING,THANKSTOSLOWDOWNSINCHINAANDGERMANY
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingEvenmoresignificantly,oildemandinAsiaandEuropesuddenlybeganweakeningthankstoslowdownsinChinaandGermany
SuspectedEntry:99%match
Uploadedsafeassign.docxMOREBROADLY,OILDEMANDHASBEENFLATLININGINLOTSOFPLACESAROUNDTHEWORLD
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingMorebroadly,oildemandhasbeenflatlininginlotsofplacesaroundtheworld
SuspectedEntry:89%match
Uploadedsafeassign.docxTHEUNITEDSTATES,ONCETHEWORLD'SBIGGESTOILCONSUMER,HASSEENGASOLINECONSUMPTIONSTAGNATEASCARSBECAMEMOREFUELEFFICIENT
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingTheUnitedStates,oncetheworld'sbiggestoilconsumer,hasseengasolineconsumptionstagnateascarsbecamemorefuelefficient
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SuspectedEntry:99%match
Uploadedsafeassign.docxATTHESAMETIME,COUNTRIESLIKEINDONESIAANDIRANHAVEBEENCUTTINGBACKONSUBSIDIESFORFUELUSERS
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingAtthesametime,countrieslikeIndonesiaandIranhavebeencuttingbackonsubsidiesforfuelusers
SuspectedEntry:100%match
Uploadedsafeassign.docxTHATCOMBINATIONOFWEAKERTHANEXPECTEDDEMANDANDSTEADILYRISINGSUPPLYCAUSEDOILPRICESTOSTARTDROPPINGFROMTHEIRJUNEPEAKOF$115PERBARRELDOWNTOAROUND$80PERBARRELBYMIDNOVEMBER
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfallingThatcombinationofweakerthanexpecteddemandandsteadilyrisingsupplycausedoilpricestostartdroppingfromtheirJunepeakof$115perbarreldowntoaround$80perbarrelbymidNovember
SuspectedEntry:69%match
Uploadedsafeassign.docx(SOURCESOFIEA,INTERNATIONALENERGYAGENCY)
Sourcehttp://www.vox.com/2014/12/16/7401705/oilpricesfalling(InternationalEnergyAgency)
SuspectedEntry:92%match
Uploadedsafeassign.docxBUTATITSBIGMEETINGLASTNOVEMBER,OPECDIDNOTHING
Sourcehttp://www.observer.org.sz/business/69334whyoilpriceskeepfalling.htmlButatitsbigmeetinginNovember,OPECdidnothing
7/6/2015 SafeAssignOriginalityReport
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SuspectedEntry:80%match
Uploadedsafeassign.docxASOILPRICESINCREASED,MANYENERGYCOMPANIESFOUNDITPROFITABLETOBEGINEXTRACTINGOILFROMEVERYWHEREEVENITISDIFFICULTTODOSO
Sourcehttp://www.observer.org.sz/business/69334whyoilpriceskeepfalling.htmlButasoilpricesincreased,manyenergycompaniesfounditprofitabletobeginextractingoilfromdifficulttodrillplaces
SuspectedEntry:68%match
Uploadedsafeassign.docxNORMALLY,PRODUCERANDCONSUMERWILLADJUSTTHEIRSUPPLYANDCONSUMPTIONRELIESONPRICESTOFUNCTIONASACCURATESIGNALS
Sourcehttp://petronomist.com/oilpriceanalysis2/Producersandconsumersrelyonpricestofunctionasaccuratesignalsastheyadjusttheirsupplyandconsumption
SuspectedEntry:78%match
Uploadedsafeassign.docxYET,CRUDEOILISTHEMOSTWIDELYTRADEDCOMMODITYANDFLUCTUATINGCANAFFECTNATIONALECONOMIES
Sourcehttp://petronomist.com/oilpriceanalysis2/Butoilisthemostwidelytradedcommodityandfluctuatingpricesprofoundlyaffectnationaleconomies
SuspectedEntry:68%match
Uploadedsafeassign.docxACCORDINGONEOFTHEARTICLES,THEWRITERMENTIONEDABOUTTHEPETRONOMISTSECONOMISTWILLNOTONLYUNDERLYINGTHETHEORYSUPPLYANDDEMANDAFFECTSPRICESBUTALSOMENTIONEDHOWTHEFUTURESCONTRACTCOULDDOMINATETHEPRICEOFCRUDEOIL
Sourcehttp://petronomist.com/oilpriceanalysis2/Inthisarticle,Petronomistseconomistwilladdressnotonlyhowunderlyingtheoryofsupplyanddemandaffectsprices,butalsohowthefuturescontractdominatesthefactorsaffectingprice
7/6/2015 SafeAssignOriginalityReport
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SuspectedEntry:62%match
Uploadedsafeassign.docxASTUDYOFSUPPLYLAWISTHATCRUDEOILPRICEINCREASEASTHEPRODUCERWILLREACTBYRISETHEPRODUCTIONTOGAINMOREPROFIT
Sourcehttp://petronomist.com/oilpriceanalysis2/Thebasiclawofsupplyisthatasthepriceofoilcommodityrises,oilproducerswillresponsebyincreasingproductiontogainmoreprofit
SuspectedEntry:100%match
Uploadedsafeassign.docxOILSUPPLYSHIFT
Sourcehttp://petronomist.com/oilpriceanalysis2/OilSupplyShift
SuspectedEntry:84%match
Uploadedsafeassign.docxOVERTHEPASTDECADE,ASIAISTHEREGIONWITHFASTESTDEMANDGROWTHAMONGOTHERREGIONSANDITCONTRIBUTED56%OFTHEGLOBALOILDEMAND
Sourcehttp://petronomist.com/oilpriceanalysis2/Asiaistheregionwiththefastestdemandgrowthandcontributedroughly56%ofthegrowthinglobaloildemandoverthepastdecade
SuspectedEntry:77%match
Uploadedsafeassign.docxDUETOTHISREASON,THEPRESIDENTBUSHWASDECIDEDSPREADOUTTHE30MILLIONGALLONFROMTHECOUNTRYSSTRATEGICPETROLEUMRESERVE(SPR)ANDBROUGHTBACKTHEOILANDMAKESURETHEPRICEGOESDOWN
Sourcehttp://petronomist.com/oilpriceanalysis2/PresidentBushdecidedtorelease30milliongallonsfromthecountrysStrategicPetroleumReserve(SPR)andbroughtthepriceofoilbackdown
SuspectedEntry:62%match
Uploadedsafeassign.docx Sourcehttp://oilprice.com/Energy/OilPrices/What
7/6/2015 SafeAssignOriginalityReport
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DURING2005,AHURRICANEKATRINAWASDAMAGEDTOU.SANDCEASEDTHEOILPRODUCTIONALONGTHESOTHERNGULFCOASTINMEXICO
AffectsOilPrices.htmlIn2005HurricaneKatrinahaltedoilproductionalongtheSouthernGulfCoastoftheUnitedStates
SuspectedEntry:69%match
Uploadedsafeassign.docxASDEMANDREMAINEDUNCHANGEDBUTTHESUPPLYWERETREMENDOUSLYCUT,THEREFORETHEOILPRICESRAISEDOVER$70PERBARRELINAPERIODOFTIME
Sourcehttp://oilprice.com/Energy/OilPrices/WhatAffectsOilPrices.htmlAssupplywasprecipitouslycut,anddemandremainedthesame,oilpricesincreasedtoover$70abarrelinashortperiodoftime
SuspectedEntry:91%match
Uploadedsafeassign.docxCRUDEOILISPROCESSEDINREFINERIESTOMAKEGASOLINE,DIESEL,HEATINGOIL,JETFUEL,LUBRICANTS,PETROCHEMICALFEEDSTOCKSANDOTHERPETROLEUMPRODUCTS
Sourcehttp://www.eia.gov/finance/markets/spot_prices.cfmCrudeoilisprocessedinrefineriestomakegasoline,diesel,heatingoil,jetfuel,lubricants,petrochemicalfeedstocksandotherpetroleumproducts
SuspectedEntry:99%match
Uploadedsafeassign.docxPETROLEUMPRODUCTPRICESTENDTOMOVETOGETHERWITHCRUDEOILPRICES,WITHSOMEVARIATIONDUETOSEASONALITY,FACTORSSPECIFICTOTHEMARKETFORAPARTICULARPRODUCT,ORREFININGOUTAGES
Sourcehttp://www.eia.gov/finance/markets/spot_prices.cfmPetroleumproductpricestendtomovetogetherwithcrudeoilprices,withsomevariationduetoseasonality,factorsspecifictothemarketforaparticularproduct,orrefiningoutages
SuspectedEntry:100%match
Uploadedsafeassign.docx Source
7/6/2015 SafeAssignOriginalityReport
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SINCEWORLDCRUDEOILMARKETPRICESHITHISTORICHIGHSIN2008,PRICESDECLINEDBYABOUT70%IN2009,THENDOUBLEDBY2011,ANDTHENDECREASEDBYOVER20%DURING2014
http://www.theenergycollective.com/jemillerep/2146151/aredecliningoilpricesincreasingrisksopecusenergysecurityorcleanfuelsSinceWorldcrudeoilmarketpriceshithistorichighsin2008,pricesdeclinedbyabout70%in2009,thendoubledby2011,andthendecreasedbyover20%during2014
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