Word: majors
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...July 11, when the price of crude oil peaked at $147.27 per bbl., SemGroup, a major oil distributor based in Tulsa, Okla., was only a week or so away from a potential $5 billion payoff. Instead, the company imploded. And soon afterward, so did the price of oil, dropping some 60% in the subsequent months, to a recent price below...
...dollars had to come down. A weakening dollar played a role on the way up; a strengthening dollar on the way down. But the euro has dropped only 20%, and oil, three times that. So currency is not the whole story but certainly is a major trigger. (Read "Four Steps to Ending the Foreclosure Crisis...
...went down, the more deleveraging and liquidation had to occur to cover these losses. The financial crisis was the spark; deleveraging, the fuel. A chain reaction occurred as traders who had bought oil saw their money disappear in oil and other losing investments. And with a credit crisis looming, major players interested in maintaining a long position could not raise capital to cover margin requirements...
This deleveraging also occurred among investment banks. The failings of major financial institutions have directly fueled the decline in oil prices. Many banks' internal commodities-trading funds - Citigroup, for instance, owns Phibro, a major commodities trader - have generated excellent returns over the past few years...
...Tuberculosis has been one of the major killers around the world,” said Vincent Cheng ’11, who helped organize the event. He added that people often lose sight of tuberculous and other infectious diseases in the developing world. After AIDS, tuberculosis is the second most prevalent infectious disease in the world, according to the documentary...