Oil Slick Stuff

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Sooner or later the climbing price of oil will hit the Stock Markets, beware!:mad:

Oil extends gains above $82 a barrel

Crude prices climb as rate cut by Federal Reserve seen driving future demand for oil, gas.

September 19 2007: 6:06 AM EDT


SINGAPORE (AP) -- Oil prices rose Wednesday above the previous session's record close, lifted by expectations the interest rate cut by the U.S. Federal Reserve will accelerate growth and increase demand for already tight crude and gasoline supplies.
Light, sweet crude for October delivery added 66 cents to $82.17 a barrel in Asian electronic trading on the New York Mercantile Exchange by mid-afternoon in Singapore.
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http://money.cnn.com/2007/09/19/markets/bc.apfn.as.fin.mkt.oilp.ap/index.htm?postversion=2007091906
 
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Sep 19 10:30 Crude Inventories. :mad:
In its weekly inventory report, the Energy Information Administration said crude stocks fell by 3.8 million barrels last week. Analysts were looking for a drop of 1.5 million barrels, according to a Dow Jones poll.
But gasoline supplies showed a surprise increase, which may be acting to limit the gain in the price of crude.
EIA said gasoline supplies rose by 400,000, compared to the 1.3 million barrel drop predicted by analysts.
http://money.cnn.com/2007/09/19/mark...ion=2007091915
 
FUTURES MOVERS
Crude futures end at fresh high near $82
Fall in U.S. crude supplies, Fed rate cut support price, but gasoline supply up

By Myra P. Saefong, MarketWatch
Last Update: 3:31 PM ET Sep 19, 2007

SAN FRANCISCO (MarketWatch) -- Crude-oil futures closed at a new all-time high near $82 a barrel Wednesday, lifted by news that U.S. crude supplies have been falling since late August and expectations that the Federal Reserve's interest rate cut will boost energy demand.

http://www.marketwatch.com/News/Story/Story.aspx?column=Futures+Movers
 
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Oil surges past $83

Weak dollar and heavy fund buying push crude to new high for seven out of the last eight sessions.

By Steve Hargreaves, CNNMoney.com staff writer
September 20 2007: 5:32 PM EDT

NEW YORK (CNNMoney.com) -- Oil prices jumped over $1 Thursday, setting a new record high as the dollar continued to reel in the wake of a half-point interest rate cut by the Federal Reserve.
U.S. crude for October delivery rose $1.39 to settle at $83.32 a barrel on the New York mercantile exchange. Crude also hit a new intraday high of $83.90 a barrel.
The mystery behind surging oil prices
http://money.cnn.com/2007/09/20/markets/oil_record/index.htm?postversion=2007092016
 
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WHAT THE HECK?:mad:

The debate behind $80 oil

Industry executives say there's no reason crude prices should be anywhere near current levels. Others say the fundamentals are there, and Big Oil is playing politics.

By Steve Hargreaves, CNNMoney.com staff writer
September 20 2007: 4:02 PM EDT

NEW YORK (CNNMoney.com) -- To listen to Big Oil executives, there's no reason why a barrel of crude costs $80. But others say strong demand and limited supply justifies at least that much, and that the industry is clearly looking out for itself by saying oil is overvalued.
"No one has to wait at the gas pumps of the world. There is no physical problem," Jeroen van der Veer, head of Royal Dutch Shell, recently told reporters in Calgary. "[There's] a lot of psychology in the price."
http://money.cnn.com/2007/09/20/news/economy/oil_execs/index.htm?postversion=2007092016
 
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Oil steadies below $82 a barrel

Crude prices move off record highs just a day earlier as investors cash in; Florida storm in focus.

September 21 2007: 5:55 AM EDT

SINGAPORE (AP) -- Oil prices fell Friday but were expected to hold near record levels as traders kept a watchful eye on a potential tropical storm brewing off the west coast of Florida.
U.S. forecasters warned that a weather system swirling could make landfall as a tropical storm over the weekend. Computer models show possible tracks across Alabama, Mississippi and Louisiana.

http://money.cnn.com/2007/09/21/markets/bc.oilprices.ap/index.htm?postversion=2007092105
 
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Oil retreats as storm threat subsides

Crude prices falls to $81 barrel as Gulf of Mexico tropical depression weakens, leaving oil, gas facilities intact.

September 24 2007: 5:58 AM EDT

SINGAPORE (AP) -- Oil prices fell Monday after a tropical depression in the Gulf of Mexico dissipated without causing damage to key oil and gas infrastructure.
Light, sweet crude for November delivery lost 67 cents to $80.95 a barrel in Asian electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell 16 cents to settle at $81.62 a barrel Friday amid profit taking.

 
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Analysts watch, wince as Mexico's oil supply dwindles
They warn of an irreversible output decline.
​
By DAVID ADAMS, Times Latin America Correspondent
Published September 24, 2007
A ship passes near part of the Cantarell oil platform of Mexico's state oil company Pemex, near the city of Ciudad del Carmen, Campeche.
tb_mexoil-450.jpg
[AP photo (2001)]

MIAMI - When left-wing guerrillas in Mexico bombed several pipelines in simultaneous attacks this month, it sent a shudder through that country's large oil and gas industry.
[More]http://www.sptimes.com/2007/09/24/Worldandnation/Analysts_watch__wince.shtml
 
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BP not lookin' good!:o


BP shares sink as CEO warns on results

Tony Hayward reportedly tells staff that third-quarter earnings will be 'dreadful' and that oil giant needs to streamline its operations.

September 25 2007: 7:35 AM EDT

LONDON (AP) -- Shares in BP PLC fell Tuesday after a newspaper reported that the oil company's chief executive had warned staff of poor third-quarter results.
The Financial Times said CEO Tony Hayward told a staff meeting in Houston that he planned a shake-up of the company's structure after its worst financial performance in 15 years.

http://money.cnn.com/2007/09/25/new...ritain.bp.ap/index.htm?postversion=2007092507
 
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Probably a short lived fall!:worried:

Oil falls toward $80 a barrel

Crude prices extend decline as worries of Gulf of Mexico supply disruptions ease; tightening supplies could limit fall.

September 25 2007: 8:33 AM EDT


VIENNA, Austria (AP) -- Oil prices extended their decline Tuesday after concerns eased about supply disruption in the Gulf of Mexico. But analysts said expectations of tighter supplies ahead may limit the decline.
Light, sweet crude for November delivery on the New York Mercantile Exchange fell 76 cents to $80.19 a barrel by midday in electronic trading in Europe.

The decline was a continuation of the trend in the previous session, when the contract fell 67 cents a barrel, said David Moore, a commodity strategist with the Commonwealth Bank of Australia in Sydney.​


Wal-Mart to study energy impact
http://money.cnn.com/2007/09/25/markets/bc.apfn.oilprices.ap/index.htm?postversion=2007092508
 
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Do you believe that Oil and Gas were formed from fossils decaying for millions of years in the earth's crust? If you do you need to read this!:cool:
View attachment 2180

[FONT=times new roman, times]CONFESSIONS OF AN "EX" PEAK OIL BELIEVER[/FONT]
[FONT=times new roman, times]by F. William Engdahl[/FONT][FONT=tahoma,verdana,arial]September 25, 2007[/FONT]​

[FONT=arial,helvetica,verdana]By F. William Engdahl,[/FONT][FONT=arial,helvetica,verdana] author of A Century of War: Anglo-American Oil Politics and the New World Order, Pluto Press Ltd.. To contact: www.engdahl.oilgeopolitics.net [/FONT]​
[FONT=arial,helvetica,verdana]http://www.financialsense.com/editorials/engdahl/2007/0925.html[/FONT]
 
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09/25/2007 - Updated 3:29 PM ET
Crude oil falls sharply as traders lock in gains
By Polya Lesova, MarketWatch & Myra P. Saefong,
MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures fell sharply Tuesday, as traders rushed to lock in profits after the record-breaking recent run-up in prices.
Crude oil for November delivery closed down $1.42 at $79.53 a barrel on the New York Mercantile Exchange.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BFFAD41FD%2D0772%2D42F5%2D81F3%2DE7E9E213AC5E%7D
 
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Oil finds floor following 3-day selloff

Crude prices test $80 a barrel as traders await latest U.S. inventory data, eye tropical weather systems.

September 26 2007: 6:04 AM EDT

SINGAPORE (AP) -- Oil prices rose in Asian trade Wednesday, gaining back a small portion of losses the last three sessions that were driven by easing supply concerns.
Light, sweet crude for November delivery rose 65 cents to $80.18 a barrel in Asian electronic trading on the New York Mercantile Exchange by midafternoon in Singapore.

 
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Surprise!! Why are they wrong in their estimates?:confused:

Oil drops below $80 as supplies grow:D

Crude and distillate stockpiles post surprise increases, gasoline also up more than expected.

September 26 2007: 10:40 AM EDT

NEW YORK (CNNMoney.com) -- Oil prices moved off earlier highs Wednesday, dipping below $80 a barrel, after government said crude and distillate supplies showed a surprise increase.
U.S. light crude for November delivery rose 37 cents to $79.90 a barrel on the New York Mercantile Exchange. Oil had traded up about a dollar just prior to the report's release.

http://money.cnn.com/2007/09/26/markets/oil_eia/index.htm?postversion=2007092610
 
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Oh, make up your mind!! Looks like its headed to Mexico to me.:nuts:

Storm threat to Gulf scares oil higher

Possible hurricane, new tropical depression raise supply disruption concerns, pushing up price of crude.

September 27 2007: 6:06 AM EDT

SINGAPORE (AP) -- Oil prices rose by a dollar a barrel Thursday, extending overnight gains as a tropical depression near Mexico raised concerns about possible disruptions to oil and gas production there.
Light, sweet crude for November delivery rose 78 cents to $81.08 a barrel in Asian electronic trading on the New York Mercantile Exchange by midafternoon in Singapore.

http://money.cnn.com/2007/09/27/markets/bc.oilprices.ap/index.htm?postversion=2007092706
 
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OH, now it's IRAN, again!!:nuts:

Oil climbs on supply concerns

Inventory decline at key Oklahoma delivery point, friction in the Middle East spark supply worries.

September 27 2007: 4:02 PM EDT

NEW YORK (AP) -- Oil and other petroleum futures surged Thursday amid supply concerns sparked by a decline in crude inventories at a key Oklahoma terminal and the confrontation between the West and Iran.
"This is basically fear of a fundamental supply disruption," said Fadel Gheit, an analyst at Oppenheimer & Co.
http://money.cnn.com/2007/09/27/markets/bc.oilprices.ap/index.htm?postversion=2007092714
 
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