Gazprom and Ukraine Resolve Dispute
Mar 7th, 2008 | By Contrarian Profits | Category: Featured, Financial News, Oil Investment & Alternative EnergyRussian oil giant Gazprom and Ukraine have settled their dispute over the continent’s natural gas supplies, reports Money Morning.
According to the report by Jason Simpkins: “Ukraine will pay the $600 million debt demanded by Gazprom, and the Russian oil monopoly will restore deliveries of gas to the country in full. Gazprom had reduced supplies to Ukraine by half after the country reneged on a deal reached on Feb 12.
“Governments throughout Europe became extremely concerned when Ukraine threatened to siphon off gas supplies in transit to other parts of the region, and the International Energy Agency called Gazprom’s move to cut supplies ‘excessively harsh.’”
Russia supplies a quarter of Europe’s gas supply, and 80% of that passes through the Ukraine.
Short-sell expert Jeff Clark says oil is headed higher over the short term. “But it won’t be the start of another massive move higher for the great oil bull market. Instead, it will be the final, speculative, blow-off stage that always seems to occur just before a major correction.”
Advertisement
After a decade of work, I’ve perfected a method that can predict the movement of individual stocks or entire markets – down to the penny – days, even years in advance. And it works with stocks, bonds, ETFs, currency…
In fact, I’ve recently led readers to gains of as much as 130%...153%...and 155%. It’s so accurate, that both a European bank and a foreign government have tried to steal it from me.
Click to find out what makes this the most powerful financial indicator on earth… and how you can use it to your full advantage.