Oil Slick Stuff

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US to close in on cartel operators worldwide
Executives accused of price-fixing are increasingly vulnerable to US extradition requests as Washington steps up its prosecution of cartel cases. Legal experts are now predicting a surge in US extradition requests on cartel activity. Thomas Barnett, who heads the US Department of Justice's antitrust division, told the Financial Times "the world is becoming less safe for cartel participants. That's a good thing."
http://news.moneycentral.msn.com/ticker/article.asp?feed=FT&Date=20060728&ID=5903646
 
Oil Prices Continue to Rise
SINGAPORE - Oil prices continued to rise Friday, a day after the Venezuelan oil minister said OPEC was powerless to stop price surges caused by geopolitical tensions. Fighting in the Middle East also made traders fearful of possible supply interruptions in the region, and a U.S. government report showed a surprising decline in natural gas inventories last week as hot weather pushed up demand for electricity. Late Thursday, Venezuelan Oil Minister Rafael Ramirez was quoted as saying that the world oil price band has "disappeared" as geopolitical tensions raise energy prices in a way that OPEC is powerless to stop.
http://news.moneycentral.msn.com/provider/providerarticle.asp?Feed=AP&Date=20060727&ID=4160093
 
$74.54 a barrel

07/27/2006 - Updated 3:34 PM ET
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Oil futures climb on Nigerian output woes U.S. gas supply fall, Middle East woes add support; natural-gas prices rise
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By Myra P. Saefong, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures closed higher for a second session Thursday, with concerns over production outages in Nigeria and a sizable decline in U.S. gasoline supplies taking some of the spotlight off the conflict between Israel and Lebanon.
At the same time, natural-gas futures closed at their highest level in nearly six weeks, after government data showed supplies declined last week for the first time since the end of March.

http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7BD46D6FDC%2D3440%2D430F%2DA2EE%2D821E7DC07EE9%7D
 
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Exxon Rides Oil and Gas Prices to 36% Gain in Profit
Exxon Mobil reported a 36 percent gain in second-quarter earnings yesterday, bolstered by robust oil and gas prices, improving refining margins and the start of production at a field in Nigerian waters. Exxon Mobil reported second-quarter profit of $10.36 billion, its second-best quarter ever. Exxon, the world’s largest publicly traded oil company, has prospered as gasoline prices have risen sharply in reaction to mounting global tensions in several oil-rich areas and climbing consumption in the United States, China and India. The company, based in Irving, Tex., was the only one of the big three producers to increase output in the quarter and take strong advantage of the increase in oil prices, which have surpassed $70 a barrel.
http://www.nytimes.com/2006/07/28/b...8e730c87bca9&ei=5089&partner=rssyahoo&emc=rss
 
Shell Posts 36% Rise in 2nd-Quarter Profit
LONDON — The oil giant Royal Dutch Shell said Thursday that its second-quarter profit rose 36 percent, as high oil prices and healthy refining margins made up for production declines partly caused by violence in Nigeria. Shell said it took a $500 million charge to settle a lawsuit related to a 2004 case involving overbooking of reserves. The company said no settlement had been reached in the United States class-action suit and added that the charge did not cover a separate European lawsuit. Shell’s results were helped by oil prices, which soared 33 percent compared with the second quarter of 2005, to an average $64 a barrel, and a 10 percent rise in gas prices.
http://www.nytimes.com/2006/07/28/business/28shell.html?_r=1&ref=worldbusiness&oref=slogin

Y'all enjoy paying for the $500 million charge to settle the lawsuit related to the 2004 case involving overbooking of reserves? :mad: I sure did. :notrust:
 
Chevron 2Q Profit Hits Record High
California - Chevron Corp. said Friday its second-quarter profit surged 18 percent to set a new three-month high for the 127-year-old company and cap the latest round of enormous earnings for the oil industry. The earnings marked Chevron's highest profit for any three-month period, eclipsing the $4.14 billion in net income that the company made during the final three months of last year when energy prices spiked in the aftermath of hurricanes Katrina and Rita.
http://www.nytimes.com/aponline/business/AP-Earns-Chevron.html
 
Chevron,,,,, yep, Crooks.

Now we have profit taking, our bucks!:nuts:
$74.02 a barrel

07/28/2006 - Updated 8:37 AM ET
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Crude dips as traders lock in recent gains
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</IMG>By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures fell early Friday as traders locked in some of the commodity's recent gains, although continued violence in the Middle East, and production glitches in Nigeria were expected to keep a floor under prices heading into the weekend.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7BF0085106%2D7E47%2D48FB%2DBFFC%2D682335C2ADAF%7D
 
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This is better, but may be short lived, profit taking remember. Sure is helping today though!:D
$73.05 a barrel!

07/28/2006 - Updated 10:48 AM ET
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Crude futures fall to a more than one-month lowPrices ready for weekly loss as traders cash in though supply concerns linger
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures fell under $74 a barrel to their lowest level in more than a month Friday, on track to mark a loss for the week as traders took advantage of a two-session gain of more than 1% to make some profits.
http://markets.usatoday.com/custom/...s&guid={F0085106-7E47-48FB-BFFC-682335C2ADAF}
 
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Kangaroo comes to mind!

$73.24 a barrel

07/28/2006 - Updated 3:29 PM ET
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Oil futures end at one-month low, down for the weekSlow economic growth pressures oil; natural gas prices up 15% on week
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures closed Friday at their weakest level in a month, losing 1.6% for the week, with a slowdown in the growth of the U.S. economy and a the lack of supply disruptions in the Middle East prompting traders to take advantage of a two-session price climb.
Exchangehttp://markets.usatoday.com/custom/...s&guid={F0085106-7E47-48FB-BFFC-682335C2ADAF}
 
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I think this rascal is going to cause trouble in the near future.:mad: He is talking OIL/Arms lately, a trader to the Americas!:notrust:

Venezuelan president meets Belarus leader
By YURAS KARMANAU, Associated Press Writer Mon Jul 24, 4:29 PM ET


MINSK, Belarus - Leftist Venezuelan President Hugo Chavez exchanged declarations of solidarity Monday with the authoritarian leader of isolated Belarus, who shares his anti-U.S. views.

Chavez, a frequent and harsh critic of the United States, made Belarus the first stop on a major international tour that will also take him to Russia, Iran and Vietnam.
He was greeted at the presidential palace in Minsk with an honor guard, a military band and warm hugs and smiles from President Alexander Lukashenko — a man known in Europe and Washington as "Europe's last dictator."
Lukashenko, like Chavez, accuses the United States of trying to overthrow him.
"Here, I've got a new friend and together we'll form a team," Chavez said before one-on-one talks with Lukashenko. "I thank you, Alexander, for solidarity and we've come here to demonstrate our solidarity."
Lukashenko, whose regime has been slapped with Western sanctions, returned the praise, calling Chavez "a man of extensive knowledge."
"You are versed not only in the economy of Venezuela but in the Belarus economy as well, you know military science, the military-industrial complex, and this impresses me very much," he said.
"Our two nations have a lot in common, we can form a strategic alliance," Lukashenko said.
Chavez has courted foes and critics of Washington in what he calls an effort to create a global counterbalance to U.S. domination. He has crafted a socialist trade bloc with Cuba and Bolivia, signed a series of deals with Iran, and supported North Korea's right to test-fire missiles.

http://news.yahoo.com/s/ap/20060724/ap_on_re_la_am_ca/belarus_venezuela
 
More good Oil Slick news!:mad:


Mid-East crisis could push oil to $125

By Jorn Madslien
Business reporter, BBC News


Israel's bombing of Lebanon has yet again prompted speculation that oil prices will soon soar above $100 a barrel. But reality could prove even harsher, according to Deutsche Bank chief energy economist Adam Sieminski.

http://news.bbc.co.uk/2/hi/business/5225236.stm
 
Let's not be stupid, if the Oil is there GET IT. :D
Call, email those politicians! Fire them next election!
How about a few new refineries? Oil is no good if you can't refine it!:confused:

Offshore drilling battle looms
Senate set to vote on expanding Gulf oil and gas production, but measure falls far short of House proposal.
by Steve Hargreaves, CNNMoney.com staff writer
July 28 2006: 2:33 PM EDT

NEW YORK (CNNMoney.com) -- The Senate is set to vote Monday to expand oil and gas drilling in the Gulf of Mexico, setting up a possible battle with the House of Representatives which wants to allow drilling off the entire continental shelf.
http://money.cnn.com/2006/07/28/news/economy/senate_drilling/index.htm
 
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Up, ? ?? is there a shortage? NAH!
$73.55 a barrel

07/31/2006 - Updated 8:12 AM ET
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Crude bounces off one-month lowsNatural-gas futures rally more than 6% in electronic trading
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</IMG>By Mark Cotton, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures edged higher Monday as tensions in the Middle East remain high after an Israeli air attack over the weekend left scores of Lebanese civilians dead, including about 40 children.
The benchmark September-dated contract was last up 34 cents at $73.55 a barrel in electronic trading. On Friday, crude for September delivery ended down $1.30 at $73.24 on the New York Mercantile Exchange, its weakest closing level since June 28.

http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7BC0DF06B4%2DB24E%2D46FB%2D8663%2D41D417E736E3%7D
 
Hop, hop, is this thing a rabbit or what?
$74.40 a barrel, just stay below $75.00, PLEASE!:mad:

Nat-Gas soars 35% in July
Crude rallies back above $74
Crude-oil futures ended higher, buoyed by the rise in natural gas, but tensions in the Middle East also underpinned gains. Israel ruled out a cease-fire with militant Lebanese group Hezbollah following an Israeli air attack over the weekend left scores of Lebanese civilians dead, including about 40 children.
http://markets.usatoday.com/custom/...s&guid={C0DF06B4-B24E-46FB-8663-41D417E736E3}
 
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Russian Pipeline Leak Causes Prices to Rise
MOSCOW — Several thousand gallons of crude oil leaked from a Russian pipeline over the weekend, briefly shutting down a major export route and causing prices to spike to about $75 a barrel on world oil markets. The size of the spill and the damage to the environment remained a matter of dispute on Monday — when authorities made the spill public — though by the end of the day ecologists and government officials agreed it could be characterized as minor. The pipeline resumed pumping oil on Monday afternoon. A relatively small amount of oil — 39 tons, or roughly 11,000 gallons — leaked from the pipe onto flat ground far from any rivers or streams, according to Lyudmila K. Komogortseva, chairwoman of the ecology committee of the regional Parliament. In a telephone interview, she said 32 tons had been recovered by Monday.
http://www.nytimes.com/2006/08/01/w...9d1e61251fc8&ei=5089&partner=rssyahoo&emc=rss
 
Driftin' a tad higher, NO NOT TO $75+ Please, Watch that Chris, Could be a storm in Oil Prices. Slicker!
$74.73 a barrel

08/01/2006 - Updated 9:57 AM ET
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Crude gains on Mideast, supply concernsNatural gas rallies; no let-up in heat-wave energy demand
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</IMG>By Mark Cotton, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures trended higher Tuesday as Israel stepped up its offensive in Lebanon, prompting renewed concerns the conflict could spill over into oil-rich areas of the Middle East, with worries about supplies out of Nigeria and Mexico further underpinning gains.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7BA4827A54%2D36BF%2D449F%2D9CDF%2DCF690D9C021D%7D
 
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UTOH! Back off!
$75.00 a barrel

OIL jumps back to $75 on Iraq, LebanonMiddle East violence keeps prices within reach of $78.40 record reached in July; export pipeline attacked in northern Iraq.August 1 2006: 12:45 PM EDTLONDON (Reuters) -- Oil jumped back to $75 on Tuesday, and momentarily surged above that number, as Israel prepared to advance deeper into Lebanon, ignoring calls for a ceasefire, and saboteurs again attacked Iraq's northern oil export pipeline.Violence in the Middle East, a region which pumps a third of the world's oil, is keeping prices within striking distance of July's $78.40 a barrel record high. Special Reportfull coverage Exxon Mobil makes over $10 billion Oil jumps back to $75 on Iraq, Lebanon Chevron jumps 18% but misses expectations Congress again eyes Alaska drilling U.S. crude traded up 60 cents to $75.00, although it had surged as high as $75.45 at one point in morning trade. Meanwhile, London Brent crude was up $1.25 to $76.40. http://money.cnn.com/2006/08/01/markets/bc.markets.oil.reut/index.htm?cnn=yes
 
CROOKS!

Oil: Why it won't go below $60
Now that OPEC has tasted record high prices with little impact on demand, some say the cartel won't let crude fall too far - at least for now.
By Steve Hargreaves, CNNMoney.com staff writer
August 1 2006: 1:18 PM EDT


NEW YORK (CNNMoney.com) -- Just a couple of years back people talked about oil hitting a low of $20 a barrel.
Then, as prices steadily rose without curbing worldwide demand and OPEC dropped its target price of $20 to $28 a barrel, people said oil wouldn't go below $40.


http://money.cnn.com/2006/08/01/news/economy/oil_floor/index.htm?cnn=yes
 
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