1 page/≈550 words
Mathematics & Economics
ARTICLE REVIEW (Essay Sample)
AN ARTICLE REVIEW: WHAT ONE IS AND HOW ONE IS WRITEN An article review is a written evaluation of a particular work. It takes the form of an essay. It is done after careful reading, note-taking and analysis of what the author is trying to say. Your review's length may vary according to the article's size. Generally four to six typed paragraphs per article will suffice. The review consist of four main parts that are placed in continuous narrative. A. Description of the work A one or two paragraph description of the work's physical structure and any information about the author you may have discovered. For example magazine title, number of pages, publisher, copyright, date, edition, whether it is part of a series. B. Statements of author's goals: The author will say that he or she is trying to accomplish somewhere at the outset either in the article's preface or in its introduction. In your own words, or paraphrasing his or her own, state the person's objectives for having writing the article (one or two paragraphs) C. Your verdict: Did the author achieve the goals set forth? Or. were some achieved but not all? Were the conclusions valid, or can you show when he or she hedged the point? If the answer is “yes” show why and use examples from the text to bolster your praise. If the answer is “no” do the same thing to back your claim. Remember, you cannot praise or condemn without proof. D. Your Opinion of the whole Work: Did you like the article? Why or why not? Use examples to bolster your statements. Proofread your work before turning it in and watch your spelling. Oil Rises First Time in Six Days as U.S. Jobless Rate Declines Moming Zhou and Mark ShenkFeb 03, 2012 3:44 pm ET Washington Post Feb. 3 (Bloomberg) -- Oil gained for the first time in six days, paring a weekly decline, after the U.S. jobless rate fell to the lowest level in three years. Futures climbed 1.5 percent after the Labor Department said the unemployment rate dropped to 8.3 percent in January, the least since February 2009. Nonfarm payrolls increased 243,000, the most since April. Oil dropped this week as inventories rose and demand weakened. “It's a really strong jobs report and not surprisingly it should give the market a boost,” said Jason Schenker, president of Prestige Economics LLC, an Austin, Texas-based energy consultant. “It showed that the U.S. economy is recovering.” Crude for March delivery gained $1.48 to settle at $97.84 a barrel on the New York Mercantile Exchange. Prices fell 1.7 percent this week. Brent oil for March settlement climbed $2.51, or 2.2 percent, to $114.58 a barrel on the ICE Futures Europe exchange. Brent's premium to Nymex's West Texas Intermediate widened for a seventh day, to $16.74. The unemployment rate, derived from a survey of households, was forecast to hold at 8.5 percent, according to the median projection in a Bloomberg News survey of economists. January's payroll increase exceeded all the forecasts in the survey. The median projection called for an increase of 140,000. Estimates by the 89 respondents ranged from gains of 95,000 to 225,000. ‘Markets Exploded' The jump in employment was broad-based, including manufacturing, construction, temporary help agencies, restaurants and retailers. “All of the markets exploded on the very bullish unemployment number,” said Tom Bentz, a director with BNP Paribas Prime Brokerage Inc. in New York. “Any sign of an improving U.S. economy is positive for the oil demand picture.” Crude also moved higher after a Washington Post columnist reported yesterday that U.S. Defense Secretary Leon Panetta believes there is a strong likelihood that Israel will strike Iran by the end of June. Panetta declined to comment. “The market found support overnight on the headlines that pointed to the possibility Israel will attack Iran this spring,” said Bentz. Iran has said it may close the Strait of Hormuz, the transit point for about a fifth of global crude, after the European Union announced Jan. 23 that it will implement an oil embargo starting July 1 to pressure the Islamic republic over its nuclear program. Iran's Supreme Leader Ayatollah Ali Khamenei said his country will carry out its threats in response to Western sanctions aimed at stopped its nuclear program if needed, the state-run Mehr news agency reported today. Rising Inventories Nymex futures fell for the previous five days on signs of surging supply. Total inventories climbed to a 13-week high of 338.9 million barrels, and stockpiles at the Cushing, Oklahoma, delivery point for the New York contract reached a six-week high of 30.1 million. The current oil inventory level can support 23.4 days of refinery use, the most since July 1, according to the Energy Department. “The inventory numbers are weighing on the market,” said Rich Ilczyszyn, chief market strategist and founder of Iitrader.com in Chicago. “I don't want to say that we have a glut, but we do have plenty of stocks.” The supply increase pushed the March contract's discount to December to $2.69 based on today's settlement prices, up from $1.38 on Jan. 27. Brent Premium Rising Cushing inventories also helped widen Brent's premium over WTI, which has almost doubled this year, said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. Enterprise Products Partners LP plans to start shipping oil from Cushing to the U.S. Gulf Coast June 1 after the Seaway pipeline's flow is reversed. “Cushing stocks are increasing and there won't be new pipelines until later this year,” McGillian said. He added that Asian demand is boosting Brent. Crude prices may fall next week, a Bloomberg News survey showed. Fourteen of 34 analysts, or 41 percent, forecast oil will drop through Feb. 10. Twelve respondents, or 35 percent, predicted prices will increase and eight estimated there will be little change. Total petroleum demand in the U.S., the biggest oil consumer, fell to 17.7 million barrels a day last week, the lowest level since May 1999, according to the Energy Department. Gasoline consumption decreased to 7.97 million barrels a day, the lowest level since September 2001. Oil volume in electronic trading on the Nymex was 655,737 contracts as of 3:11 p.m. in New York. Volume totaled 745,272 yesterday, 27 percent above the three-month average. Open interest was 1.44 million contracts, a three-month high. --With assistance from Grant Smith in London and Bob Willis in Washington. Editors: Richard Stubbe, Dan Stets source..
(February 03, 2012)
Description of the work
The article covered in this paper is “Oil Rises First Time in Six Days as U.S. Jobless Rate Declines” by Moming Zhou and Mark Shenk. It was published in the Washington Post on February 03, 2012. The authors are assisted by Grant Smith and Bob Willis in London and Washington respectively. The editors are Richard Stubbe, and Dan Stets who have worked to make the article a perfect analysis.
Statements of author’s goals:
The article describes the economics aspects that are happening in the economy of the country; it explains the changes in prices in oil and the decrease in the rate of unemployment. The Nonfarm payroll reports indicated that there was a decrease in unemployment rate and thus resulted to an increase in futures by 1.5 percent. It also explains the impacts in the markets of the rise in crude oil prices.
The price of a barrel of oil in the markets increased with a $1.48 margin while the prices dropped by 1.7 percent. In an economy driven by oil as a major source of energy for production and other aspects there is a huge impact in the economy. The authors also critically review the issue of employments; there were more people employed in the economy meaning that there would be increased spending in the economy hence sparing a ripple effect on all aspects. According to the authors’ “The jump in employment was broad-based, includ...
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