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Oil Slick Stuff
- Thread starter nnuut
- Start date
nnuut
Moderator | TSP Legend
Like I always say, "IT'S GOOD WHEN IT'S GOOD"!!:laugh:
nnuut
Moderator | TSP Legend
We need to watch this RUSSIA/GEORGIA thing, it can effect world wide energy prices. Russia's major Oil pipeline passes through this part of Georgia. Wonder why Russia is interested in this area. There is a possibility the whole Market outlook can change next week. We will just have to wait and see what develops.
Buster
Well-known member
James48843
Well-known member
Sorry. I can't buy into that one.
Seems there is conflicting data:
"No one knows about that day or hour, not even the angels in heaven, nor the Son, but only the Father."
Matthew 24:36
James48843
Well-known member
Oil jumps overnight. Crude up 1.30 to $116.50
Russia making things nervous....
Russia making things nervous....
Show-me
Well-known member
Take note of this. First would arrive this weekend and is lined up with the Gulf.
http://www.nhc.noaa.gov/
http://www.nhc.noaa.gov/
Those Mayan's got much of their advanced
technology from the ancient astronauts !
Trust No One Mr. Maulder !
nnuut
Moderator | TSP Legend
Oil jumps on Russia-Georgia conflict
Crude gains nearly $2 as fighting continues over a separatist province.
August 11, 2008: 4:08 AM EDT
SINGAPORE (AP) -- Oil prices rebounded Monday in Asia to near $117 a barrel on concerns a widening conflict between Russia and Georgia over a breakaway province could disrupt supplies in the region.
Light, sweet crude for September delivery rose $1.64 to $116.84 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell $4.82 on Friday to settle at $115.20 a barrel.
"The market is watching what happens there closely," said Mark Pervan, senior commodity strategist at ANZ Bank in Melbourne. "It's not a major oil producer, but there are major transport links to Europe through that region."[more]
http://money.cnn.com/2008/08/11/markets/oil.ap/index.htm?cnn=yes
Crude gains nearly $2 as fighting continues over a separatist province.
August 11, 2008: 4:08 AM EDT
SINGAPORE (AP) -- Oil prices rebounded Monday in Asia to near $117 a barrel on concerns a widening conflict between Russia and Georgia over a breakaway province could disrupt supplies in the region.
Light, sweet crude for September delivery rose $1.64 to $116.84 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell $4.82 on Friday to settle at $115.20 a barrel.
"The market is watching what happens there closely," said Mark Pervan, senior commodity strategist at ANZ Bank in Melbourne. "It's not a major oil producer, but there are major transport links to Europe through that region."[more]
http://money.cnn.com/2008/08/11/markets/oil.ap/index.htm?cnn=yes
James48843
Well-known member
Light sweet now only $115.91. Looks like Russia is having less impact this morning, than it was last night in Singapore.
Amazing.
Amazing.
nnuut
Moderator | TSP Legend
Yeah, Georgia was going to ask for a ceasefire this morning. If that is agreed on Oil should continue it's drop, hopefully.:worried:
nnuut
Moderator | TSP Legend
AP
Gas prices continue to drop across the nation
Monday August 11, 6:55 am ET Average price of gas drops to $3.85; down almost 15 cents from 2 weeks ago
CAMARILLO, Calif. (AP) -- A national survey shows gas prices continue dropping across the nation.
The average price of a gallon of regular gasoline at self-serve stations was $3.85 Friday, down almost 15 cents from two weeks ago.
Mid-grade went for $3.98 and premium went for $4.10. That's according to the Lundberg Survey of 7,000 gas stations nationwide, released Sunday.
Diesel was at $4.64.
The cheapest gas was in Tulsa, Okla., where a gallon of regular cost $3.50. Anchorage, Alaska, was most expensive at $4.37.
The California average was $4.10, down 22 cents from two weeks ago. The Western states were the only region in the U.S. where gas remained above $4 a gallon on average. http://biz.yahoo.com/ap/080811/gas_prices.html
Gas prices continue to drop across the nation
Monday August 11, 6:55 am ET Average price of gas drops to $3.85; down almost 15 cents from 2 weeks ago
CAMARILLO, Calif. (AP) -- A national survey shows gas prices continue dropping across the nation.
The average price of a gallon of regular gasoline at self-serve stations was $3.85 Friday, down almost 15 cents from two weeks ago.
Mid-grade went for $3.98 and premium went for $4.10. That's according to the Lundberg Survey of 7,000 gas stations nationwide, released Sunday.
Diesel was at $4.64.
The cheapest gas was in Tulsa, Okla., where a gallon of regular cost $3.50. Anchorage, Alaska, was most expensive at $4.37.
The California average was $4.10, down 22 cents from two weeks ago. The Western states were the only region in the U.S. where gas remained above $4 a gallon on average. http://biz.yahoo.com/ap/080811/gas_prices.html
nnuut
Moderator | TSP Legend
OPEC Crude Price Falls More Than Two Dollars
Deutsche Presse-Agentur (dpa) Monday, August 11, 2008
As the price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) dropped $2.35 Friday, the cartel's oil price fell by $8.35 last week, data released by OPEC on Monday showed.
One barrel (159 liters) of OPEC-produced crude stood at $112.73 Friday, compared with $115.08 on the previous day.
OPEC calculates an average basket price based on 13 important brands produced by cartel members.
Copyright 2008 dpa Deutsche Presse-Agentur GmbH
http://www.rigzone.com/news/article.asp?a_id=65313
Deutsche Presse-Agentur (dpa) Monday, August 11, 2008
As the price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) dropped $2.35 Friday, the cartel's oil price fell by $8.35 last week, data released by OPEC on Monday showed.
One barrel (159 liters) of OPEC-produced crude stood at $112.73 Friday, compared with $115.08 on the previous day.
OPEC calculates an average basket price based on 13 important brands produced by cartel members.
Copyright 2008 dpa Deutsche Presse-Agentur GmbH
http://www.rigzone.com/news/article.asp?a_id=65313
nnuut
Moderator | TSP Legend
Georgia conflict halts oil's deep slide
Crude prices rise amid conflict between Russia and Georgia that could threaten a critical oil pipeline.
Last Updated: August 11, 2008: 10:49 AM EDT
NEW YORK (CNNMoney.com) -- Oil prices were narrowly higher Monday morning amid concerns about a conflict between Georgia and Russia that could disrupt supplies in the region.
U.S. crude for September delivery rose 17 cents to $115.37 barrel on the New York Mercantile Exchange, halting a multi-week slide.
Georgia and Russia are embroiled in a conflict over control of the province of South Ossetia and its key pipeline - an important transport hub between Europe and Asia for crude oil and natural gas.
Oil prices had jumped sharply higher earlier in electronic trading, but pared those gains as traders mulled the dollar's recent gains and remained concerned about falling worldwide demand - both of which have pushed crude futures lower in recent weeks.
Dollar gains: The dollar, which took a big hit from the turmoil in the mortgage and credit markets, has made gains in recent weeks as the effects of those crises have started to spread to other economies.
Crude is traded in dollars, so a stronger dollar makes oil futures more expensive to investors.
"Economic growth is down around the world. Demand for commodities, especially energy, continues to slide," said James Cordier, founder of OptionSellers.com in Tampa, Fla.
The dollar rallied to five-month high against the euro Friday amid concerns about weakening European growth.
Georgia-Russia Russian bombs fell near the Baku-T'bilisi-Ceyhan pipeline, which transports crude through Georgia and Turkey to the Mediterranean Sea, according to reports. However, the pipeline had been shut down before the fighting began, due to a fire in Turkey.
The conflict caused the oil producing nation of Azerbaijan to halt exports of crude and refined fuel from two critical Georgian ports on Saturday, according to state-owned oil company SOCAR.
Georgia, which has strong ties to the U.S., has been developing closer relations with NATO. The country had been trying to assert control over South Ossetia and the province of Abkhazia, both of which have strong pro-Russian separatist movements.
Falling demand: Fuel prices have tumbled recently on worries that high prices are cutting in to global demand.
Crude futures fell $4.82 on Friday to settle at $115.20 a barrel - more than $30 below the high of $147.27 set on July 11.
The price of gasoline in the U.S., the world's largest crude consumer, has fallen for 25 straight days to a nationwide average of $3.81, according to motorist group AAA. Still, gas prices are more than a dollar above where they were a year ago.
http://money.cnn.com/2008/08/11/markets/oil/index.htm
Crude prices rise amid conflict between Russia and Georgia that could threaten a critical oil pipeline.
Last Updated: August 11, 2008: 10:49 AM EDT
NEW YORK (CNNMoney.com) -- Oil prices were narrowly higher Monday morning amid concerns about a conflict between Georgia and Russia that could disrupt supplies in the region.
U.S. crude for September delivery rose 17 cents to $115.37 barrel on the New York Mercantile Exchange, halting a multi-week slide.
Georgia and Russia are embroiled in a conflict over control of the province of South Ossetia and its key pipeline - an important transport hub between Europe and Asia for crude oil and natural gas.
Oil prices had jumped sharply higher earlier in electronic trading, but pared those gains as traders mulled the dollar's recent gains and remained concerned about falling worldwide demand - both of which have pushed crude futures lower in recent weeks.
Dollar gains: The dollar, which took a big hit from the turmoil in the mortgage and credit markets, has made gains in recent weeks as the effects of those crises have started to spread to other economies.
Crude is traded in dollars, so a stronger dollar makes oil futures more expensive to investors.
"Economic growth is down around the world. Demand for commodities, especially energy, continues to slide," said James Cordier, founder of OptionSellers.com in Tampa, Fla.
The dollar rallied to five-month high against the euro Friday amid concerns about weakening European growth.
Georgia-Russia Russian bombs fell near the Baku-T'bilisi-Ceyhan pipeline, which transports crude through Georgia and Turkey to the Mediterranean Sea, according to reports. However, the pipeline had been shut down before the fighting began, due to a fire in Turkey.
The conflict caused the oil producing nation of Azerbaijan to halt exports of crude and refined fuel from two critical Georgian ports on Saturday, according to state-owned oil company SOCAR.
Georgia, which has strong ties to the U.S., has been developing closer relations with NATO. The country had been trying to assert control over South Ossetia and the province of Abkhazia, both of which have strong pro-Russian separatist movements.
Falling demand: Fuel prices have tumbled recently on worries that high prices are cutting in to global demand.
Crude futures fell $4.82 on Friday to settle at $115.20 a barrel - more than $30 below the high of $147.27 set on July 11.
The price of gasoline in the U.S., the world's largest crude consumer, has fallen for 25 straight days to a nationwide average of $3.81, according to motorist group AAA. Still, gas prices are more than a dollar above where they were a year ago.
http://money.cnn.com/2008/08/11/markets/oil/index.htm
