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@12:00 Sweet Lite Crude down to $136.21 a barrel. Looks like the market doesn't give a damn about Iran or Inventories?:D
 
nnuut said:
@12:00 Sweet Lite Crude down to $136.21 a barrel. Looks like the market doesn't give a damn about Iran or Inventories?:D
Click to expand...

That is good news and it's about time this market stops OVERREACTING to Iran and the threat of war. Just a bunch of hype produced by the media to line the pockets of the rich...:cool:
 
I Will be unavailable from 09:30 to 12:00 today.
If you need a price on Oil/Gas go to Oil Slick Home Page below and click the LINKS.:worried:
Thanks
Norman
 
Gas prices slip from record

National average price for regular unleaded falls slightly to $4.104 a gallon; diesel hits new high.

Last Updated: July 10, 2008: 7:19 AM EDT

NEW YORK (CNNMoney.com) -- Retail gas prices backed away from their record highs overnight, a daily survey by motorist group AAA showed on Thursday.


The price of regular unleaded gasoline fell four-tenths of a cent to $4.104 a gallon. Through the first half of the week, gas prices held at a record high of $4.108 a gallon.
Gas prices have surged roughly 40% in the past year.
Meanwhile diesel, which is used to fuel most trucks and commercial vehicles, hit a new record high of $4.814 a gallon, up one-tenth of a cent from the previous day.
Drivers in Alaska are hit with the highest gas prices at $4.613 a gallon. California comes in second at $4.54. Those two are the only states where prices top $4.50, though Hawaii is just pennies away at $4.476.
Hawaii also leads the nation in diesel prices at $5.383 a gallon. Diesel is also selling for more than $5 in four other states: Alaska, California, Connecticut and New York.
Missouri has the cheapest prices for regular unleaded at $3.896 a gallon, while Oklahoma has the cheapest diesel at $4.591.
Record high fuel prices may be causing drivers to rein in their fuel consumption.
A government report released Wednesday showed an unexpected climb in national gasoline stockpiles, which analysts say could indicate that drivers just aren't buying as much fuel.
And automobile giant General Motors (GM, Fortune 500) said Monday it was considering drastic cost cuts, including a possible sale of its Hummer light truck brand, as consumers turn away from heavier, less fuel-efficient vehicles.
http://money.cnn.com/2008/07/10/news/economy/gasoline/index.htm?cnn=yes
 
Iran doctored missile test-firing photo - defence analyst
10 Jul 2008 | 11:05 AM ET
LONDON (Thomson Financial) - A defence analyst said on Thursday that Iran had apparently doctored photographs of missile test-firings and exaggerated the capabilities of the weapons.

Iran on Wednesday test-fired nine missiles -- including a Shahab-3 it said was capable of reaching Israel -- angering the United States, amid fears that the standoff over the Islamic republic's contested nuclear drive could lead to war.

Photographs published on the Iranian Revolutionary Guards website showed four missiles taking off from a desert launchpad.

But one of the missiles had apparently been added to the photograph using elements from the smoke trail and dust clouds from two of the other missiles.....


http://www.cnbc.com/id/25623384/for/cnbc/
[:rolleyes: I see a rush job here.]
 
What's wrong with those guys, guess to LIE is OK?
We never do!:D

Oil demand and supply will soar: OPEC

Cartel blames speculators and weak U.S. dollar for recent price runup.

Last Updated: July 10, 2008: 10:55 AM EDT

VIENNA (AP) -- World energy needs will spike by more than 50% by 2030 but adequate oil reserves, conservation and new methods of recovery mean supply will keep pace with demand, the Organization of Petroleum Exporting Countries said Thursday.
In its "World Look Outlook for 2008," OPEC also took issue with critics blaming present skyrocketing prices on the refusal of the organization to increase output, asserting that the weak U.S. dollar and market speculators were at least partly to blame.
And it suggested that decades of low prices led to under-investment, leaving the industry ill-prepared to sate the increased hunger for crude generated by strong economic growth.
Past "low prices were bad for the oil industry, and in the longer term they were also bad for consumer," said the summary of the 214-page report. At the same time, despite delivery bottlenecks, "there is enough oil to meet the world's needs for the foreseeable future," it added.
OPEC Secretary-General Abdalla Salem El-Badri made the same point, in his foreword.
"Today, what is apparent is that oil supply and demand fundamentals are healthy," he wrote. "There is, and has been, more than enough supply to meet demand, and oil stocks in major consuming countries are at comfortable levels. This should point away from the direction of current price levels."
The report projected oil demand to rise by 29 million barrels a day from 2006 through 2030 to reach a daily 113 million barrels a day - a drop of 4 million barrels a day over its predictions last year, "due in part to the higher oil price assumption" - expectations that pricey petroleum is here to stay.
New recovery methods to boost supply[more]
http://money.cnn.com/2008/07/10/news/international/opec_report.ap/index.htm?postversion=2008071010
 
nnuut said:
What's wrong with those guys, guess to LIE is OK?
We never do!:D

Oil demand and supply will soar: OPEC

Cartel blames speculators and weak U.S. dollar for recent price runup.
Last Updated: July 10, 2008: 10:55 AM EDT
Click to expand...
Lies, d&*^ Lies and Statistics ("holding everything else constant"). Or in this Case, Projections, d&*^ Projections and Expectations.:toung:
 
nnuut said:
Should open up Post #1 on this thread. I keep it updated 5 days a week. You know Oil Slick Home Page. Just tried it, it works for me, reboot!:confused::D
Click to expand...
OK. I thought it was supposed to redirect me to another webite. Duh. I have MB set that last post is first at the top so it's the first thing I see. Your first post is at the end of the thread for me. Thanks.:D
 
Oil zooms up $5-plus on Iran fears

Oil settles $5.60 higher to $141.65 as Middle East tensions have investors on edge. OPEC reports that global demand will grow by 50% by 2030.

#yahooBuzzBadge-form{text-transform:uppercase;}#shareMenu{display:none;} By Catherine Clifford, CNNMoney.com staff writer

Last Updated: July 10, 2008: 3:07 PM EDT

NEW YORK (CNNMoney.com) -- The price of oil made a late rally Thursday and settled more than $5 a barrel higher as traders reacted to talk of further turbulence in Iran, which threatens the supply of Middle East oil.
Light, sweet crude settled $5.60 a higher to $141.65 a barrel. Prices had soared as high as $142.04 earlier in the day.
Traders say that increased tensions in Iran and the apparent end of a cease-fire in Nigeria pushed prices up.
Iran media reported that the country had test-fired missiles in the Persian Gulf for the second day on Thursday, putting investors on edge.
Mark Waggoner, president of Excel Futures, said that tensions throughout the Middle East are pushing up the price of oil, but he said that the recent events in Iran are of particular concern today.
Also Waggoner noted that there may have been an end to a ceasefire in Nigeria and said that also could have pushed up prices.
If tensions in the Middle East were to subside Waggoner said, " I would think you would get $10 off [the price] almost immediately."
"This is still a bullish market that is trading as much on psychology as fundamentals," said Stephen Schork, publisher of the industry newsletter, The Schork Report.
Escalating tensions in Iran could shut down the Strait of Hormuz, posing a big problem in transporting oil and putting pressure on global supply, said Schork.
With the market so sensitive, geopolitical unrest, especially in Iran, which sits on 10% of the world's oil supply, any news of instability there is enough to push the price of oil higher, says Schork.
OPEC says oil needs will jump by 50%. The [more]
http://money.cnn.com/2008/07/10/markets/oil/index.htm?cnn=yes
 
Oil shoots higher to new record

Concerns about supply disruptions fuel latest rally.

Last Updated: July 11, 2008: 7:24 AM EDT

Malaysia (AP) -- Oil climbed to a new trading record Friday in Asia, boosted by concerns over possible disruption to tight global supplies amid tensions over Iran's launch of test missiles and the possible renewal of oil-related violence in Nigeria.

"There's always a fear premium in pricing. The tensions in Iran and the threat of supply disruption will help support oil prices," said Jeff Brown, managing director of FACTS Global Energy in Singapore.
Late afternoon in Singapore, light, sweet crude for August delivery rose as high as $145.98 a barrel in Asian electronic trading, exceeding the previous trading record of $145.85 set on July 3.
The contract rose $5.60 in the overnight floor session to $141.65 a barrel - after losing nearly $10 on Monday and Tuesday and then gaining a penny on Wednesday.[more]
http://money.cnn.com/2008/07/11/markets/oil.ap/index.htm?postversion=2008071107
 
Suncor (SU) on sale! Just bounced off of the 200 dma and they ended their maintenance shut down on one of two up graders. Now they will be at full production.
 
OPEC Warns War With Iran Would Cause 'Unlimited' Oil Price Hike

Friday, July 11, 2008

VIENNA, Austria — World energy needs will spike by more than 50 percent by 2030 but adequate oil reserves, conservation and new methods of recovery mean supply will keep pace with demand, the Organization of Petroleum Exporting Countries said Thursday.
Still, OPEC's secretary general acknowledged that dangers to steady supply exist. Addressing one — the threat of a U.S. or Israeli attack on Iran because of its nuclear defiance — he warned that his organization was unprepared — and unable — to make up for resulting oil shortfalls.
"It is impossible to replace the production of Iran," OPEC's No. 2 producer, Abdalla Salem El-Badri told reporters at the presentation of the organization's long term oil market outlook. “The prices would go unlimited ... I can’t give you a number.”
The United States and Israel have not ruled out a military strike on Iran as a last option if it does not give up uranium enrichment and heed other U.N. Security Council demands meant to dispel the fear Tehran wants to make nuclear arms.
Tehran produced just over 4 million barrels of crude a day last year — more than 10 percent of OPEC's total production.
In its report, "World Look Outlook for 2008," OPEC took issue with critics blaming present skyrocketing prices on the refusal of the organization to increase output, asserting that the weak U.S. dollar and market speculators were at least partly to blame.[more]
http://www.foxnews.com/story/0,2933,380324,00.html
 
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