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Oil climbs as tropical storm develops

Crude prices exceed $72 a barrel as Tropical Storm Dean forms in the Atlantic Ocean, offsetting market credit worries.

August 14 2007: 4:34 PM EDT

LONDON (Reuters) -- Oil prices rose on Tuesday as concerns about a newly formed tropical storm in the Atlantic countered fresh troubles in credit markets.
U.S. crude settled 76 cents higher at $72.38 a barrel, erasing earlier losses. London Brent crude rose 28 cents to $70.51 a barrel.

http://money.cnn.com/2007/08/14/markets/bc.markets.oil.reut/index.htm?postversion=2007081416
 
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BREAKING
NEWS...........Oil prices up more than $1 a barrel on weak inventories, .....................storm.concerns. Details soon.
http://money.cnn.com/?cnn=yes

FUTURES MOVERS
Crude oil, natural gas rise sharply on storm worries

By Polya Lesova, MarketWatch
Last Update: 10:11 AM ET Aug 15, 2007

NEW YORK (MarketWatch) -- Energy futures rose sharply Wednesday, led by strong gains in natural gas, continuing to draw support from worries over the potential impact of a tropical storm on oil installations in the Gulf of Mexico.

http://www.marketwatch.com/News/Story/Story.aspx?column=Futures+Movers
 
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Oil gains as crude supplies fall:mad:

Drop of 5.2 million barrels in inventory is far more than expected; gasoline stocks also decline.

August 15 2007: 10:43 AM EDT


NEW YORK (CNNMoney.com) -- Oil prices rose Wednesday after the government said supplies of crude oil fell far more than expected.
U.S. light crude for September delivery jumped $1.05 to $73.43 a barrel on the New York Mercantile Exchange. Oil had traded up 93 cents just prior to the report's release. In its weekly inventory report, the Energy Information Administration said crude stocks dropped by 5.2 million barrels last week. Analysts were looking for a decline of 2.3 million barrels, according to Reuters.
http://money.cnn.com/2007/08/15/markets/oil_eia/index.htm?postversion=2007081510
 
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Slow down Erin, there are Oil Rigs out there Ya know!!!:mad::mad:

CNN) -- Tropical Storm Erin was christened Wednesday morning in the Gulf of Mexico. It could make landfall Thursday near Corpus Christi, Texas, forecasters said Wednesday.
art.depression.ap.jpg
A NOAA satellite image shows the beginnings of Tropical Storm Erin at 7:45 a.m. ET Wednesday.

http://www.cnn.com/2007/US/08/15/storms/index.html
 
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Oil retreats as credit worries persist

Crude prices slide over $1 a barrel after credit concerns pound global equity markets, while Gulf storm fears subside.

August 16 2007: 5:56 AM EDT


LONDON (Reuters) -- Oil dropped more than $1 a barrel Thursday as credit fears pounded stocks and a threat of storm damage to U.S. Gulf refineries and rigs appeared to recede.
Oil had resisted Wednesday's declines on other markets as investors tracked two tropical storms in the Atlantic and reacted to a bigger-than-expected fall in U.S. crude oil stocks.
http://money.cnn.com/2007/08/16/markets/bc.markets.oil.reut/index.htm?postversion=2007081605
 
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Is this GOOD?

Oil plummets nearly $3 a barrel

Storm threatening Gulf gets downgraded, money pours from commodities as stock market slide continues.

August 16 2007: 11:55 AM EDT


NEW YORK (Reuters) -- Oil prices fell sharply Thursday as credit and economic growth concerns pressured global stock markets, while oil traders assessed the storm threat to Gulf of Mexico oil operations after storm Erin was downgraded to a tropical depression.
http://money.cnn.com/2007/08/16/markets/bc.markets.oil.reut/index.htm?postversion=2007081611
 
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Opps a recovery!:o

Oil rebounds from steep selloff

Recovery in global markets, Hurricane Dean pushes up crude prices just a day after tumbling over $2 a barrel.

August 17 2007: 5:54 AM EDT


LONDON (Reuters) -- Oil prices rose Friday as European stock markets clawed back some of the previous day's losses and as Hurricane Dean strengthened on a course that could take it towards rigs and refineries in the Gulf of Mexico.
U.S. crude was up 58 cents at $71.58 a barrel. It had fallen $2.33 on Thursday when investors sold energy to offset losses elsewhere or out of fear that a squeeze on credit will slow global economic growth.
http://money.cnn.com/2007/08/17/markets/bc.markets.oil.reut/index.htm?postversion=2007081705
 
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What next?:cool:

Oil jumps on Fed rate cut, storm fears

Crude prices climb more than $1 a barrel as central bank lowers discount rate, Hurricane Dean gains strength.

August 17 2007: 9:07 AM EDT


LONDON (Reuters) -- Oil prices jumped by more than $1 a barrel Friday on concerns about Hurricane Dean's potential impact on Gulf of Mexico oil operations and after the U.S. Federal Reserve cut the primary discount rate a half-point to 5.75 percent.
U.S. crude gained $1.31 to $72.31 a barrel. It had fallen $2.33 on Thursday when investors sold energy to offset losses elsewhere or out of fear that a squeeze on credit will slow global economic growth.
London Brent crude was up 55 cents at $70.32.
Why Gulf storms make oil traders so jumpy
http://money.cnn.com/2007/08/17/markets/bc.markets.oil.reut/index.htm?postversion=2007081709
 
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:D:D

Oil retreats as storm fears cool

Forecasts suggest Hurricane Dean unlikely to disrupt production and refining centers in Gulf of Mexico.

August 20 2007: 6:33 AM EDT


LONDON (Reuters) -- Oil slipped Monday after forecasts showed Hurricane Dean was unlikely to plough through production and refining centers in the Gulf of Mexico.
U.S. crude fell 56 cents to $71.42 a barrel, giving back most of Friday's 98-cent gain after the U.S. Federal Reserve cut its discount rate and as Dean menaced.
London Brent crude fell 42 cents to $70.02.
Why Gulf storms make oil traders so jumpy
The U.S. National Hurricane Center forecast Dean would remain south of the U.S. portion of the Gulf - which accounts for about a third of U.S. oil production - and cross the Yucatan Peninsula en route to the east coast of Mexico.
http://money.cnn.com/2007/08/20/markets/oil.reut/index.htm?postversion=2007082006
 
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Close one!:o

Oil prices drop; Dean seen missing Gulf facilities
Hurricane lashes Jamaica and Caymans, heads for Yucatan Peninsula


By MarketWatch
Last Update: 6:08 AM ET Aug 20, 2007

LONDON (MarketWatch) -- Crude-oil prices dropped more than 1% on Monday as weather reports indicated that Hurricane Dean would not hit major Gulf of Mexico energy-production infrastructure.

Crude futures fell 88 cents to stand at $70.90 a barrel in electronic trading.
http://www.marketwatch.com/news/sto...x?guid={BACBA505-9E54-488C-B3C1-7F56EA74D62B}
 
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http://biz.yahoo.com/ap/070820/oil_prices.html?.v=11
Monday August 20, 2:01 pm ET

Light, sweet crude for September delivery fell $1.68 to $70.30 a barrel in afternoon trading on the New York Mercantile Exchange. Crude was poised to close at a six-week low.
Gasoline prices dropped 10.6 cents to $1.9322 a gallon.
Natural gas futures declined 90.1 cents to $6.109 per 1,000 cubic feet. Heating oil futures lost 5.42 cents to $1.9631 a gallon.

:D
 
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Comon Down, we like it! :D

Oil extends decline towards $70 a barrel

Hurricane Dean expected to spare U.S. and Mexican oil platforms and refineries, sending crude prices lower.

August 21 2007: 6:08 AM EDT


SEOUL (Reuters) -- Oil extended losses to below $71 a barrel Tuesday on relief that powerful Hurricane Dean would not hit U.S. Gulf Coast oil platforms and refineries, and hope that it posed a lesser threat to Mexico's oil patch.
U.S. crude fell 43 cents to $70.69 a barrel, nearing its lowest in a month and a half after dropping 86 cents a day ago when forecasts showed that Dean was taking a more southerly path toward Mexico, sparing the U.S. Gulf, home to half of U.S. refining capacity and a third of its oil production.
London Brent crude fell 35 cents to $69.50.
Why Gulf storms make oil traders so jumpy
U.S. crude has tested the $70 psychological support level several times over the past week, and some dealers say a break below that level could signal another bout of heavy selling.
http://money.cnn.com/2007/08/21/markets/oil.reut/index.htm?postversion=2007082106
 
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Oil prices calm despite hurricane

Global oil prices have fallen in Tuesday trading on relief that Hurricane Dean is likely to miss key US platforms in the Gulf of Mexico.
The storm is on target to hit Mexico, but the International Energy Agency said any damage to Mexican rigs should not effect the global oil market.
In early European trading, US crude was down 39 cents to $70.73 a barrel, while Brent had fallen 35 cents to $69.50.
Mexican energy firms have shut down all production in the Gulf of Mexico.
http://news.bbc.co.uk/2/hi/business/6956364.stm
 
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:DOil falls as crude supplies gain:D

Rise in crude stocks unexpected, adding to big drop in prices Tuesday as Hurricane Dean weakened.

August 22 2007: 10:46 AM EDT


NEW YORK (CNNMoney.com) -- Oil prices fell Wednesday, adding to Tuesday's big decline, after the government reported a surprise rise in crude oil supplies.
U.S. light crude for October delivery lost 32 cents to trade at $69.25 a barrel on the New York Mercantile Exchange. Oil had traded up 58 cents just prior to the report's release.
http://money.cnn.com/2007/08/22/markets/oil_eia/index.htm?postversion=2007082210
 
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08/22/2007 - Updated 3:27 PM ET
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Oil futures down a third dayCrude supply up for first time in 7 weeks, but gas down
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By Myra P. Saefong, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures closed at their lowest level in two months Wednesday after a U.S. government report showed that crude supplies unexpectedly rose for the first time in seven weeks.
At the same time, gasoline inventories marked their largest weekly decline of the year so far.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BD3474D92%2DE0C0%2D4799%2D8475%2D81E1ADD3DBBE%7D
 
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Oil floats below $70 a barrel

Crude prices inch lower, extending previous session selloff on unexpected jump in U.S. oil inventories.

August 23 2007: 5:57 AM EDT


LONDON (Reuters) -- U.S. oil hovered below $70 Thursday after closing at its lowest level in almost two months the previous session following an unexpected rise in crude oil stocks in top consumer the United States.
U.S. crude was down four cents to $69.22 a barrel. Prices have fallen about 12 percent from their record high $78.77 on Aug. 1.
Tapping the brakes on gas demand
London Brent crude gained 25 cents to $68.95.
http://money.cnn.com/2007/08/23/markets/oil.reut/index.htm?postversion=2007082305
 
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Yeah, that's right, gump up the lake! :mad:

Oil sands plan said to draw fire

To process heavy Alberta crude, BP wants to dump up to 50% more pollutants into Lake Michigan, angering some - report.

August 23 2007: 10:48 AM EDT


NEW YORK (CNNMoney.com) -- Plans to process a heavy grade of crude oil from oil sands in the Canadian province of Alberta have sparked a nasty battle in the Midwest, where some politicians are angry that the move will increase pollution in the Great Lakes, according to a report Wednesday.
http://money.cnn.com/2007/08/23/news/companies/bp_permit/index.htm?postversion=2007082310
 
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