Word: crude
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Dates: during 2000-2009
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First, you'll need money. How much? Let's say you want to trade one contract of crude oil on the New York Mercantile Exchange (NYMEX). Since you're not a member of the exchange, and no one will really trust your new oil venture, you're going to need to start with at least $10,000 in your margin account (similar to a brokerage account, but it lets you leverage your bets to the hilt) as collateral to comfortably trade one contract. That might sound like a lot for just one contract, but a single contract on NYMEX represents...
...This is particularly apposite in the case of China, a country with not only many possible futures, but (as it were) many pasts. There is a crude but commonly held thumbnail sketch of modern Chinese history that goes something like this: Two centuries ago, European powers tried to open a hermetic society to trade; they failed until the Opium Wars forced the issue; China then entered an era of foreign domination and internal chaos, which ended with the imposition of political stability by the Communist Party in 1949; in 1978, after another round of internal unrest, China chose to modernize...
...Washington Speculators Face Fresh Scrutiny Federal regulators are weighing whether to impose restrictions on energy speculators, whom some have blamed for triggering the wild fluctuations in crude-oil prices over the past year. From its peak of $145 in July 2008, the price of a barrel of crude plummeted to about $35 in January before rebounding to almost $70 this summer. Some analysts deny that futures-trading has driven the swings, noting that commodity-price volatility is a normal by-product of difficult economic times...
...Price of crude oil (monthly average...
...Friday's violence occurred as prospects for China's steel industry are turning around. The government's $586 billion stimulus package has set off a massive infrastructure-building spree, creating a huge demand for steel. In June crude-steel production hit nearly 50 million tons - 6% higher than in the previous year, according to the World Steel Association, and close to an all-time high. "Demand has just exploded in the first half of this year as a result of the government's stimulus package and bank lending," says Jim Lennon, a Macquarie Bank analyst. "Steel demand is massive...