Oil Nears $80 A Barrel Amid Stock Market Surge

Oil Nears $80 A Barrel Amid Stock Market Surge :Oil prices climbed toward $80 a barrel Friday, catching up with a surge in global stock markets and assisted by a slightly weaker dollar which made crude more attractive to international investors. By midday in Europe, benchmark crude for December delivery was up 23 cents to $79.85 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 78 cents to settle at $79.62 on Thursday

Oil Nears $80 A Barrel Amid Stock Market Surge:Oil prices climbed toward $80 a barrel Friday, catching up with a surge in global stock markets and assisted by a slightly weaker dollar which made crude more attractive to international investors.

By midday in Europe, benchmark crude for December delivery was up 23 cents to $79.85 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 78 cents to settle at $79.62 on Thursday.

Oil traders often look to stock markets for a sense of overall investor sentiment, and the Dow Jones industrial average rose 2.1 percent Thursday on better-than-expected jobless claims numbers and positive forecasts by Cisco Systems Inc. All major Asian indexes closed higher on Friday, while markets in Europe were little changed.

The release later Friday of U.S. October unemployment figures is also expected to affect the market, with economists expecting a decline of around 175,000 jobs. The unemployment rate is expected to rise to 9.9 percent.

“Should unemployment turn out to increase substantially above expectations of the IMF of 10.15 percent in 2010, U.S. gasoline demand is likely to erode further,” Vienna’s JBC Energy said.

Crude investors are also watching signs in recent weeks of a drop in U.S. oil supplies, which increased sharply this year as demand shrank. Some analysts forecast higher oil prices next year as the economy strengthens and demand recovers.

“We expect fundamentals to improve as oil demand growth resumes,” Morgan Stanley said in a report. “Until the oil market tightens, oil will be dragged in the wake of other risky asset price moves.”

Morgan Stanley said it expects oil to average $85 a barrel next year.

Crude has crisscrossed the $80 level for the last few weeks as investors mull weak U.S. consumer demand and a volatile dollar.

On Friday, the euro bought $1.4877 in European morning trading, up slightly from $1.4868 late Thursday in New York, while the British pound also rose to $1.6610 from $1.6586 and the dollar fell against the Japanese yen, buying 90.46 against 90.78 yen Thursday.more details :yahoonews

Allahu Akbar Meaning

Allahu Akbar Meaning: Allahu Akbar is probably the most commonly spoken phrase today. There are over a billion Muslims out there and since this is said during each stage of prayer, which is supposed to be performed five times a day, it adds up to being spoken over a billion times a day worldwide, by a conservative estimate. This statement is said by Muslims numerous times; During the call for prayer , during prayer , when they are happy, and wish to express their approval of what they hear, when they slaughter an animal, and when they want to praise a speaker

Allahu Akbar Meaning:Allahu Akbar is probably the most commonly spoken phrase today. There are over a billion Muslims out there and since this is said during each stage of prayer, which is supposed to be performed five times a day, it adds up to being spoken over a billion times a day worldwide, by a conservative estimate. This statement is said by Muslims numerous times; During the call for prayer, during prayer, when they are happy, and wish to express their approval of what they hear, when they slaughter an animal, and when they want to praise a speaker. Even if they don’t say it, they can also hear it, since it’s proclaimed loudly as part of the Azan at mosques.

The phrase is actually short for “Allahu Akbar min kullisay” which means God is greater than everything.

Allahu Akbar by itself translates to “God is greater.” (akbar is an elative form, meaning greater, greatest, or very great.) Muslims leave the phrase unfinished, with the implication that whatever you can think of, God is greater than that, too.

The actual title of this phrase is Takbeer , while the phrase itself is “Allahu Akbar.” Instead of applause, it’s better to have someone yell “Takbeer” and the crowd to respond “Allahu Akbar” in chorus.