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Oil still at all-time high

Crude prices edge higher after finishing at record close; government's weekly inventory report on tap.
September 12 2007: 5:11 AM EDT

SINGAPORE (AP) -- Oil prices extended gains Wednesday after finishing at a record close in the previous session on worries about tight supplies.
An announced increase in output by the Organization of Petroleum Exporting Countries failed to calm market concerns about the ability of producers to meet strong winter demand in the final quarter of the year, analysts said.

http://money.cnn.com/2007/09/12/markets/oil.ap/index.htm
 
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Oil hits record on big inventory drop

Crude supplies fall by over 7 million barrels, pushing oil prices past $79.

September 12 2007: 10:42 AM EDT


NEW YORK (CNNMoney.com) -- Oil prices hit a fresh intraday record high of over $79 a barrel Wednesday after the government said supplies of crude oil fell far more than expected.
U.S. light crude for October delivery rose 70 cents to $78.97 a barrel, passing the old trading high of $78.77 a barrel hit Aug. 1. Oil had traded up 49 cents just prior to the report's release, and touched a record $79.29 just after the report.

http://money.cnn.com/2007/09/12/markets/oil_eia/index.htm?postversion=2007091210
 
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Surging oil unnerves investors

Stocks likely to struggle as crude prices remain near record high; falling dollar adds to worries.

September 13 2007: 6:34 AM EDT

NEW YORK (CNNMoney.com) -- U.S. stocks are likely to trade lower Thursday, with oil prices hovering near $80 a barrel and the dollar near an all-time low versus the euro.
At 6:31 a.m. ET, Nasdaq and S&P futures were lower, with a comparison to fair value pointing to slight declines at the market open.

http://money.cnn.com/2007/09/13/markets/stockswatch_ny/index.htm
 
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Wall Street's new worry: Oil:mad:

Higher crude prices and falling dollar expected to pressure stocks as Wall Street awaits Fed meeting.

September 13 2007: 7:48 AM EDT

NEW YORK (CNNMoney.com) -- Stocks were poised to open lower Thursday as investors weighed crude prices near $80 a barrel and another record low for the dollar ahead of next week's Federal Reserve meeting.
At 7:42 a.m. ET, Nasdaq and S&P futures pointed to lower open, with a comparison to fair value suggesting a modest decline at the market open.

http://money.cnn.com/2007/09/13/markets/stockswatch_ny/index.htm?postversion=2007091307
 
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Oil moves back below $80 a barrel

Crude prices retreat after finishing at record high a day earlier on supply concerns.

September 14 2007: 6:01 AM EDT


SINGAPORE (AP) -- Oil prices fell Friday after closing at a record high the previous session on supply concerns.
Light, sweet crude for October delivery lost 50 cents to $79.59 a barrel in Asian electronic trading.

http://money.cnn.com/2007/09/14/markets/bc.oilprices.ap/index.htm?postversion=2007091406
 
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Not anytime soon I'm afraid. The price of oil still needs to trickle down to effect Gas prices, it's happening now as you can see by the rise in the price of Gasoline this week. Then comes winter, the price of heating oil typically rises in the winter, effecting prices of Oil and Gas. Opec rose their output by 500,000 barrels a day effective in November, but that is a drop in the bucket, winter is on the way! Buck up cause its on the way up.:mad:View attachment 2124
 
The end of oil:mad:

A small - but growing - group of experts think world oil production will peak in the next few years, to devastating effect.

By Steve Hargreaves, CNNMoney.com staff writer
September 14 2007: 2:50 PM EDT

NEW YORK (CNNMoney.com) -- At some point in the near future, worldwide oil production will peak, then decline rapidly, causing depression-like conditions or even the starvation of billions across the globe.
That's the worst-case scenario for subscribers to the "peak oil" theory, who generally believe oil production has either topped out or will do so in the next couple of years.
oil_petroleum_pump.03.jpg
A small but growing group of experts think oil production will peak in the next few years, then decline rapidly. The result could be worse than the Great Depression.
Special Reportfull coverageThe end of oil
Oil loses $1 after setting new record
The mystery behind surging oil prices
Oil hits $80 a barrel, an all-time high

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3 court cases for climate change (more)
http://money.cnn.com/2007/09/14/news/economy/peak_oil/index.htm?postversion=2007091414
 
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Oil slides to $78 :o

Prices dip after hitting record high in previous session as traders await the Federal Reserve's next move on interest rates.

September 17 2007: 7:37 AM EDT

NEW YORK (AP) -- Oil prices dropped Monday to extend the previous session's decline as traders sold crude contracts to lock in profits.
Light, sweet crude for October delivery lost 75 cents to $78.35 a barrel in electronic trading on the New York Mercantile Exchange midday in Europe.

http://money.cnn.com/2007/09/17/markets/bc.apfn.oilprices.ap/index.htm?postversion=2007091707
 
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Oil sets new record on expected rate cut

Crude moves over $80 a barrel as traders expect the Federal Reserve to cut interest rates, spur economic growth.

September 17 2007: 3:19 PM EDT

NEW YORK (AP) -- Oil prices set another record and other energy futures rose Monday on expectations that the Federal Reserve will cut the benchmark federal funds rate, a move the market expects will support the economy and ensure its thirst for oil and gasoline.
"If the economy's going to be okay, then oil prices are probably undervalued," said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago.

://money.cnn.com/2007/09/17/markets/bc.apfn.oilprices.ap/index.htm?postversion=2007091715
 
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Why $80 oil won't mean $3 gas:D

Experts say declining demand, cheaper blends will keep gasoline prices from following crude much higher.

By Steve Hargreaves, CNNMoney.com staff writer
September 17 2007: 3:20 PM EDT

NEW YORK (CNNMoney.com) -- Despite oil prices recently hitting a record high of over $80 a barrel, experts say it's unlikely retail gasoline prices will move much higher than the current national average of just below $2.80 a gallon.
To be sure, retail gas prices have risen a bit along with crude's record ascent.
http://money.cnn.com/2007/09/17/news/economy/gas_prices/index.htm?postversion=2007091715
 
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Oil hits new high above $81 a barrel

Expectation of Fed rate cut boosts talk of U.S. economic growth, stronger petroleum demand.

September 18 2007: 6:33 AM EDT


SINGAPORE (AP) -- Oil prices climbed to a fresh high above $81 a barrel amid hopes that the U.S. Federal Reserve will cut a key interest rate later Tuesday, a move the market believes would bolster the economy and strengthen petroleum demand in the world's largest energy consumer.
http://money.cnn.com/2007/09/18/markets/bc.apfn.as.fin.mkt.oilp.ap/index.htm?postversion=2007091806
 
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man they are killing me i am going to have to get me a 55 gal drum of drip just to get around pick a old truck out of pasture they seemed to run ok on that crap :nuts: i spent $55 and did not even get 3/4 a tank in my suburban they know we cant get by without it:eek:
 
Briefing.com
Crude futures for October delivery are now up $0.97 at $81.55 per barrel.
The jump in energy prices is being attributed to an expectation that the government's inventory report tomorrow will show another drawdown in stockpiles...
 
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