Shout It Loud

As we are all well aware the recession is at its all time high. Already this year thousands of people have lost their jobs and for the people that have still got their jobs panic has sunk in. Even the vacation time of this year has merely not been as good, people are just not travelling overseas, because they know that the pound is weaker compared to any other currencies.

But the recession is not all doom and gloom, people losing their jobs and struggling through out the year have to be clever to take advantage of the credit crisis.

The best possible thing would be to get into the market at an early stage and get some great deals.

There are two superb examples to clarify exactly what I am trying to say.

The first is heating oil and the second is winter clothing.

Lets first have a look at the winter clothing side of things.

At the end of winter around March and April winter clothes start to go on sale so people can get rid of unwanted stock and make room for summer clothing.

But a lot of people simply do not take full advantage of the superb deals on offer on things such as jackets, then when winter approaches they end up paying double.

The same concept also applies to heating oil.

A vast amount of people switch off their central heating throughout the summer months and totally forget about it until the winter strikes, and then they end up paying inflated prices for the oil simply because it is in demand again.

Instead you should be looking at getting your collection at discount prices in the summer.

There are so many ways to save money during the recession, all you have to do is that little bit of extra planning and you will save an absolute fortune

For the ultimate heating oil prices

As we all know by now we are in the middle of a full blown economic downturn and every market sector is feeling the heat with thousands of people losing there jobs.

Probably one of the worst suffering sectors at the moment is the oil arena, we have noticed that even huge oil tycooms are cutting back.

But predictions say things will get better, but the oil industry is looking very bad as the International Energy Agency said that we could experience a big supply crunch by next year. Currently there are no problems because the demand for oil is at a very low rate, but when we start to recover from the devastation of the economic downturn there will be a problem in production, especially if they do not get any capital investment.

Oil's increase from below $20 in 2002 to a record high near $150 last year was fuelled in section by increasing demand from China and other emerging economies which strained supplies. The whole oil demand has slowed down a tremendous amount as the economic crisis cripples each country.

But as things get better the demand will grow again for oil and if the sector does not get the backing that we need it to achieve, then there could be a huge shortage which would in fact rocket the prices sky high. We would have to pay more for our heating oil and our car fuel as the heating oil suppliers would have no option but to increase the heating oil prices to make them a healthy profit.

Iran's leader of oil has told crude oil costs to stay at around $40 (£27) a barrel in 2009.

US crude settled at $36.50 a tub on Friday as prices continue to fall from the tops experienced in the summer of last year.

This comes as the effects of the world wide economic downturn constrain demand for oil across the globe.

Reuters reports Iran’s oil minister Gholamhossein Nozari as having said: “In the opinion of the boiler oil ministry, taking into account predictions by various international institutes, the anticipated oil price in the year 2009 will be around $40.”

Mr Nozari also disclosed  that non-Opec countries were failing to cooperate with the cartel’s move to cut production in an approach to bring a stop to the sliding prices.

This could see supply move ahead and grow over the next twelve months, meaning oil costs are likely to remain minimal.

Home heating oil customers saw crude oil prices hit their lowest in three weeks last Thursday as US crude slipped to $35.40 a barrel, while London Brent closed at $44.53.

But Crude oil prices saw a huge drop on Thursday as the financial crisis continued to criple demand.

After a weird day on Wednesday, the oil market suffered a down fall with prices dropping more than five % to their lowest in three weeks.

US crude stopped at $35.40 (£23.85) a barrel after a drop of $1.88, while London Brent crude fell 55 cents to $44.53 a barrel.

This comes after Opec told on Thursday that world oil demand was estimated to drop by a total of 180,000 barrels a day this year.

Experts agreed there would be little sign of relief of pressure for the market over the coming year.

Jim Wycoff, independent power analyst in Cedar Falls, told Reuters: "We have gotten more sad financial news and the notion is that 2009 will not result in any significant turnaround.”

That could be good news for home heating oil customers, who could see prices of the fuel drop if crude prices continue to tumble.

It comes after London Brent had climbed to $45.08 on Wednesday.

Great Heating oil Prices

Oil has dropped a massive $2 on the closing day today and investors booked profits after a 1 day rise yesterday.

The reason for the drop was due down to the fact that the government were setting out a bailout plan, which could of cost the economy upto $700 million. Investors are happy, but this also brings a sigh of relief to households around the world as the panic can now certainly calm down.

It looks as though heating oil suppliers have escaped lightly and we will now see what the future hold for the world.

Thats right I have just come across a great story where a gypsey woman has hit the age of 116 and is still living very healthily. This is a massive feat for anyone to achieve, it just goes to show you that the human body is getting stronger and stronger every single day.

The grandmother of “30 or more,” who was born in the Granada barrio of Sacromonte on January 4, 1892, is thought to be the oldest person in Spain, if not Europe. She has lived her whole life as a struggle with bare amounts of food and no central heating. Which again proves that if in the right state of mind the human body can withstand alot.

The US were in shock earlier today as they learnt that Iran will be turning in the other direction to find financial funding for the gas and oil programs. The US have warned off eastern countries such as China in investing in countries like Iran because of the lack of corporation in disarming their nuclear programs. The US have imposed sanction upon Iran for neighbouring countries not to do business with them.

A spokesman for the Iranian government said earlier today, “This kind of pressure from the United States is nothing new,” “We as an economy must look after our own interests regardless of what the West think. We have a fixed asset tracking system that we must take into account when looking at expanding our economy”.

More recently the US have put pressure on major banks to run deals with Iran as they want to isolate the country from the world. The Iranian government have responded in the most provoking way by opening business with China. A spokesman for the Iranian government also added, “We could forecast depreciation of our oil and that is why we want to try and seek business from elsewhere. We know the US want to keep us hidden away forever. But this is not viable for our economy”.