Oil Slick Stuff

Sort by newest Sort by date
The FED is caught between a rock and a hard place. They are doing the best that they can. I believe that!!:cool:
Now that the FED decision is over they are blaming OIL prices. Watch out! Opps too late!:mad:
 
Oil down to$92.35! Comon down.
AP
Stocks Plunge on Oil, Credit Worries
Thursday November 1, 10:28 am ET
By Joe Bel Bruno, AP Business Writer

Stocks Plunge in Early Trading on Weak Consumer Spending Report, Another Jump in Oil Prices

NEW YORK (AP) -- Wall Street plunged Thursday as concerns about the credit markets and slower growth in consumer spending and manufacturing erased optimism about the Federal Reserve's positive take on the economy just a day earlier. The Dow Jones industrials skidded more than 200 points.
http://biz.yahoo.com/ap/071101/wall_street.html
 
Last edited:
:toung: Blame rising oil prices? Of course that has *nothing* to do with lowering interest rates and a falling dollar. Absolutely nothing. :toung:
 
Oil inches back up above $93

Crude prices rebound as investors expect tight supplies ahead.

November 2 2007: 6:04 AM EDT


SINGAPORE (AP) -- Oil prices rose Friday after the previous session's decline prompted fresh buying amid expectations that crude futures will continue to test new records because of tight supplies.
Light, sweet crude for December delivery rose 9 cents to $93.58 a barrel in Asian electronic trading on the New York Mercantile Exchange by midafternoon in Singapore.
Video
More video

http://money.cnn.com/2007/11/02/markets/oil.ap/index.htm?postversion=2007110206
 
Last edited:
FUTURES MOVERS
Crude futures rise after strong payroll report

By Polya Lesova, MarketWatch
Last Update: 9:37 AM ET Nov 2, 2007

NEW YORK (MarketWatch) -- Crude-oil futures rose to trade near $94 a barrel Friday, rebounding from their decline in the previous session, as the Labor Department reported stronger-than-expected payroll growth for October.

Crude oil for December delivery gained 85 cents at $94.33 a barrel on the New York Mercantile Exchange.
"What a week! And now a jobs number more than twice expectations," said John Kilduff, an analyst at MF Global, in a research note.
=Futures+Movers
 
Last edited:
What we need to do is organize a movement where we gat all the oil speculators to sell - sell all their personal holding, hegde funds, etc. just everyone/all the specultators. Send a mass mesage out across the web to boycott oil speculation!

Of course we'd have to plan this carefullly - we'd want to time this carefully, AND try get it to spread it out over time so as not to severely disrupt markets, but goal being to get oil's price to what it should be. Actual cost. Think the speculatos wuld go for this - recommed they just invest elsewhere.
What do you think? - I'm not trying to steal your monicker!:nuts:
 
I really don't think it would work because they are the ones that are driving the prices up so they can make inflated profits!! Crooks!:mad:
 
Suppose your right. Eventually you'ld think incentives, meaning profitability, would in some way decrease to where specuating in oil isn't worth it - You seem to think we be close to that now?

Signals are starting within that the population (us), that we're are tired of it, and angry of paying these high prices. Problem is oil companies keep trying to convince us its necessary, or there's reasons - which have now grown to just about one big huge noise, one big continuous excuse.

If I understand what you've been saying, your concern - that you are warning about is that this time may be very close - people are already beginning to revolt.
BUT is this really enough to drive the market speculators away??
Or, will that stimulus, be more of a revolt? :suspicious:
 
Last edited:
The speculators are not going anywhere!
The revolt (for lack of a better word) will come when energy costs exceed our ability to pay. When it cost more to travel or run the AC than it costs to feed the family. The price of energy effects the cost of living in general. When it costs more to transport to the consumers, the price elevates on everything. Then we start planting Victory Gardens again, I suppose?:sick:
 
Some words on Oil prices from our friends at BBC News::cool:


What is driving oil prices so high?

Oil prices have surged to record highs above $96 a barrel.

Prices have more than quadrupled since 2002 and are currently 40% higher than at the start of the year.

What factors are causing this unremitting increase and what are the likely consequences for consumers and the global economy?

Why is causing the latest price spike?
[Much more]
http://news.bbc.co.uk/2/hi/business/7048600.stm
 
Oil prices back away from record :o

Crude prices ease as situation between Kurds and Turkish soldiers improves, but tight supplies limit declines.

November 5 2007: 5:50 AM EST

SINGAPORE (AP) -- Oil prices fell more than $1 in Asian trading Monday as traders pocketed gains from the previous session's record settlement.
The release of eight Turkish soldiers by Kurdish rebels Sunday also contributed to the decline, easing some concerns about whether Turkey launches attacks on guerrilla bases in northern Iraq. Escalating tensions in the Middle East could disrupt oil supplies out of the region.

=2007110505
 
Last edited:
Survey: Gas prices jump to near $3 a gallon

Gas station survey shows self-serve regular gasoline up 16 cents from the previous survey two weeks earlier.

November 4 2007: 3:00 PM EST

(CNN) -- The price of a gallon of gasoline has jumped back up near $3 a gallon, according to a survey published Sunday.
The Lundberg Survey found the average price for a gallon of self-serve regular was $2.96 on Friday, up 16 cents from the previous survey two weeks earlier.

http://money.cnn.com/2007/11/04/news/economy/gaprices/index.htm?postversion=2007110415?cnn=yes
 
Last edited:
Chevron sees profits tumble 25%

_44214937_chevron_getty203b.jpg
Chevron has been hit by lower profits at its refining business

US oil firm Chevron has seen quarterly profits fall by 25% after it was hit, like other energy firms, by lower gas prices and a drop in margins.
Its profits missed forecasts after reduced output at refineries failed to outweigh rising crude oil prices.
Chevron made a $3.72bn (£1.78bn) profit for the three months to the end of September, down from $5.01bn last year.
An unplanned closure in Mississippi and a scheduled shut-down in California both dented Chevron's output.
'Chronic performance'

http://news.bbc.co.uk/2/hi/business/7075503.stm
 
Last edited:
Oil prices bounce on cloudy supply forecast :mad:

Crude prices fluctuate on supply concerns and fears of an economic slowdown; gas prices rise at the pump.

November 5 2007: 3:21 PM EST

NEW YORK (AP) -- Gasoline prices jumped back above $3 a gallon at the pump Monday even as oil prices waffled amid conflicting reports about the economy and crude supplies.
Retail gas prices have been slow to catch up with soaring crude prices, which have gained nearly 39 percent since late August to a trading high of $96.24 on Thursday. Gas prices only started rising steadily in mid-October.


http://money.cnn.com/2007/11/05/markets/bc.oilprices.ap/index.htm?postversion=2007110515
 
Last edited:
Oil Rises to Record on Forecast U.S. Supplies Fell, North Sea

By Grant Smith

Nov. 6 (Bloomberg) --

Crude oil rose on speculation that U.S. inventories declined for a third week and as a storm closed production in the North Sea.
An Energy Department report tomorrow will probably show crude inventories fell 1.7 million barrels last week, according to an analyst survey. Oil reached a record $96.24 a barrel on Nov. 1 after supplies unexpectedly dropped. ConocoPhillips and BP Plc said they will start evacuating workers from some North Sea platforms before a storm forecast for later this week.
http://www.bloomberg.com/apps/news?pid=20601087&sid=as03BBP.6MFs&refer=home
 
Last edited:
Market Update



[SIZE=-2]ADVERTISEMENT[/SIZE]

10:35 am : Reuters reports that the government’s Energy Information Administration (EIA) has raised its full-year 2008 U.S. crude price forecast to $79.92 a barrel from $73.50 a barrel. Additionally, the EIA stated that the OPEC production increase "may not be sufficient" to stop inventory declines. Crude oil topped $96.70 a barrel following the report, but has eased slightly to $96.58.
http://finance.yahoo.com/marketupdate/overview?u
 
Last edited:
Not GOOD!!
Oil Hits $97 on Bombs, Demand Prediction
Tuesday November 6, 11:23 am ET
By John Wilen, AP Business Writer

Crude Prices Soar Past $96 a Barrel on Middle East Bombings, Government Demand Expectations

NEW YORK (AP) -- Oil futures jumped to a new record of $97 a barrel Tuesday after bombings in Afghanistan and an attack on a Yemeni oil pipeline compounded the supply concerns that have driven crude prices higher in recent weeks.
Those concerns were further fed by a government prediction on Tuesday that domestic oil inventories will fall further this year while consumption rises.
http://biz.yahoo.com/ap/071106/oil_prices.html
 
Last edited:
Keep an eye out for the Inventories Report at 10:30 EST:mad:

Oil hits another record above $97

Fears of dwindling stockpiles in the United States, a falling dollar and projections of strong demand push crude closer to $100.

By Steve Hargreaves, CNNMoney.com staff writer
November 6 2007: 4:36 PM EST

NEW YORK (CNNMoney.com) -- Oil prices set another record high Tuesday, jumping over $2 on fears of dwindling supplies in the United States, projections for strong worldwide demand and a falling U.S. dollar.
A suicide bombing in Afghanistan that killed at least 35 people and a pipeline attack in Yemen also helped push prices higher.
Oil prices jumped above $96 Friday, another record, as traders bet on falling U.S. supplies.

U.S. light crude for December delivery gained $2.72 to settle at $96.70 a barrel on the New York Mercantile Exchange, surpassing the previous closing high of $95.93 set Friday. Crude hit an intraday high of $97.07, surpassing the previous intraday record of $96.05, also set Friday.
Crude, already up more than $2 in morning trade, rose further after the Energy Information Administration issued a report showing worldwide demand unchanged, despite high prices.
EIA said the forecast for oil use growth worldwide in 2008 was unchanged at 1.5 million barrels per day. This was despite the fact prices have risen 20 percent.
The agency said world oil use would grow by 1.8 million barrels per day in the current quarter, slightly below previous estimates due to a drop in U.S. demand.
The world currently consumes about 85.6 million barrels of oil a day.
Total U.S. petroleum consumption is expected to increase by 0.5 percent in 2007 and 1 percent in 2008, despite the higher oil and petroleum product prices. Continued economic growth and forecasted colder average temperatures this winter than last winter could combine to push demand higher.
The rising demand's impact on prices was noted.
"Tight fundamentals continue to put upward pressure on oil prices," read the report. "Global oil markets will likely remain stretched, as world oil demand has continued to grow much faster than oil supply outside of the Organization of the Petroleum Exporting Countries."
EIA estimates oil prices in the fourth quarter to average $87 a barrel.
Oil: No longer a heavyweight
Crude got a boost earlier in the day on projections of another stockpile draw in the United States.
Analysts expect a 1.6 million barrel drop in domestic crude supplies when the government issues its weekly inventory report Wednesday. [more]
http://money.cnn.com/2007/11/06/markets/oil_record/index.htm?cnn=yes
 
You must log in or register to reply here.
Back
Top