Word: buyer
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...prices anyway. It is often called the Rotterdam market because most of the world's spot oil moves through that Dutch port city. But the spot market exists anywhere that a trader with a shipload of oil available for immediate sale can connect with a big-ticket buyer. Transactions can be and have been made in London, Houston, Hong Kong and Eleventh Avenue diners in Manhattan...
...about their spot profits, one trader offered to sell a 50,000-ton cargo of heating oil at $260 a ton. Then he disappeared and discovered that in New York City the spot price had risen to $300 a ton. He withdrew his offer and next morning found a buyer at $316. The trader's profit between dinner and lunch came...
...peace agreement the area from the Mediterranean to the Indian Ocean could be plunged into prolonged turmoil and stress. Having lost access to Iran's oil, which once provided almost 50% of their needs, the Israelis are eager for a settlement with Egypt that would allow them buyer's rights to crude pumping from the wells in Sinai and the Gulf of Suez. The Ayatullah's zealous denunciations of Israel raised fears that some of the sophisticated U.S. weaponry purchased by the Shah might eventually be lent or sold to an Arab confrontation state. As for Egypt...
...messages as more and more rental buildings in desirable neighborhoods go "condo" or "co-op." The owner of a cooperative buys shares in a corporation that owns his entire building and land; the number of shares depends on the size and desirability of his apartment. By contrast, a condominium buyer owns his apartment outright and has joint title with the other condo owners to the land surrounding his building...
Both condo and co-op owners enjoy the same attractive tax advantages as homeowners in being able to deduct interest and property taxes. But condos in many areas are appreciating faster in today's churning market because buyers can get mortgage financing at cheaper rates than co-op buyers, who must take out higher interest personal loans because they own nonmortgageable shares instead of property. Co-ops are more restrictive than condos; the building's board of directors must approve a potential buyer before he can acquire shares, whereas a condo can be sold to whomever the owner...