Oil Slick Stuff

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$64.41 a barrel.:o Iran back in play today, we just HAD to open our big mouths!:mad:

09/14/2006 - Updated 8:34 AM ET
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Crude gains as Iran worries resurfaceIMF's revised growth forecast helps provide further support
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</IMG>By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures rose early Thursday, reacting after the U.S. called for immediate sanctions against Iran over its nuclear program and the International Monetary Fund raised forecasts for global economic growth in 2006 and 2007.
Crude for October delivery was last up 44 cents at $64.41 a barrel. The contract snapped a seven-day losing streak on Wednesday, helped by weekly data showing a bigger-than-expected decline in U.S. crude inventories.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7BEDADF316%2D32DA%2D46A1%2D894D%2DC04F62C53BCE%7D
 
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$63.50 a barrel.:D

I'm back from the dentist! Now my wallet is empty, what next?

09/14/2006 - Updated 1:02 PM ET
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Natural-gas futures hit more than two-year lowNatural-gas supplies swell; crude prices inch lower, remain under $64 a barrel
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By Myra P. Saefong, MarketWatch
Crude for October delivery was last down 12 cents at $63.85 a barrel on the New York Mercantile Exchange, trading above the session's low of $63.50. The contract snapped a seven-day losing streak on Wednesday, helped by weekly data showing a bigger-than-expected decline in U.S. crude inventories.

http://markets.usatoday.com/custom/...s&guid={EDADF316-32DA-46A1-894D-C04F62C53BCE}
 
nnuut said:
Hey MATE!
I don't quite agree with you on this one. I think it WILL go up and down and settle out somewhere lower than $60.00 a barrel for crude. Buy gas in Europe now and you pay over $6.00 a gallon??? The prices now are generated by GREED and everyone knows it. Newer technologies will help, but that isn't in the near future. As soon as we control Iraq, Iran, Saudi Arabia and Kuwait we will get our price, whatever that may be. Someone does have a plan! ;)
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FundSurfer said:
From what I've read, at about $70 a barrel several other energy sources that were not economically viable at $40 a barrel become viable. There are people gearing up in those areas and we are throwing big grants that way to help it happen quicker. I don't think you will see oil go down below mid 60s but I also don't think it will crash into the $80s anytime soon. That will just accelerate the competition for the alternative energy market. I agree with MM that China and India are increasing demand but $70 a barrel is high for them as well.
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FundSurfer said:
Lower than $60 a barrel? No way, dude. We are beginning summer driving season. It'll be back above $70 before ya know it. Last winter was very mild which saved our butts. So unless hyper-global warming has set in, we're overdue a cold winter. Not to mention another active hurricane season. Don't forget Iran. They ain't saber rattling right now but they are stalling for time. Their leaders are the height of stupidity and it won't take long before they are threatening oil supply again. Nope, buy oil now while it's cheap.
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nnuut said:
I hear ya FS!!! I hear Ya! I didn't say it would happen today, or tomorrow or next week or next month or this year. Give it time.:D
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It may be just about time!:D :D
 
I'm surprised, I have to admit. I did read somewhere the other day that they are now predicting a warmer winter for NE US which will affect oil usage. This is a flip-flop from the predictions I was watching a month or so ago. (El Nino may be rearing its head again...) Time will tell. I'll still be very surprised if oil drops further to below $60 per barrel.

I wonder how this is affecting our oil sands players?
 
I think in the near term, 30 to 60 days we may be close to the mid 50s, some are predicting the high 40s. Of course we have to think about IRAN raising it's ugly head or the myriad of other unknowns that can throw a wrench in the spokes. :D
I tend to be an optimist, that is not always the best policy!:o
 
Upper 40's.... what were they smokin?

At least the guys who predicted oil will hit $100 a barrel will one day be right.

Of course I was skeptical about $60.....
 
$63.23 a barrel:D
I would expect OPEC to cut production of crude in the future, that will cool the fall of oil and gas prices.
9/15/2006 - Updated 8:54 AM ET
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Natural gas extends slide as supplies swell Crude flat as OPEC cuts 2006 demand forecast
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By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Natural-gas futures fell to fresh two-and-a-half year lows early Friday, as traders continued to react to government data showing a triple-digit increase in supplies of the fuel in the latest week, the biggest rise in more than a year.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7B0ADD2C41%2D40C4%2D479B%2DBC15%2D81B9D1821009%7D
 
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Oil Prices Finish Lower for the Week After OPEC Cuts Its Oil-Demand Forecast for Rest of 2006
WASHINGTON - Oil prices edged higher Friday but finished lower for the week after OPEC lowered its oil-demand forecast for the rest of the year. Oil prices lost more than 4 percent for the week, and analysts said there has been a definite shift in energy-market psychology, as traders focus on the relatively comfortable balance between supply and demand as opposed to hypothetical supply threats. In 2007, OPEC expects demand for its crude to average 28.1 million barrels per day, or 800,000 barrels per day less than the 2006 average, in part because non-OPEC supplies are rising. As a result, some analysts believe the Vienna-based cartel, which is pumping close to 30 million barrels a day, may end up cutting its output by 1.5 million barrels a day or more.
http://biz.yahoo.com/ap/060915/oil_prices.html?.v=19
 
Fivetears said:
Oil Prices Finish Lower for the Week After OPEC Cuts Its Oil-Demand Forecast for Rest of 2006
WASHINGTON - Oil prices edged higher Friday but finished lower for the week after OPEC lowered its oil-demand forecast for the rest of the year. Oil prices lost more than 4 percent for the week, and analysts said there has been a definite shift in energy-market psychology, as traders focus on the relatively comfortable balance between supply and demand as opposed to hypothetical supply threats. In 2007, OPEC expects demand for its crude to average 28.1 million barrels per day, or 800,000 barrels per day less than the 2006 average, in part because non-OPEC supplies are rising. As a result, some analysts believe the Vienna-based cartel, which is pumping close to 30 million barrels a day, may end up cutting its output by 1.5 million barrels a day or more.
http://biz.yahoo.com/ap/060915/oil_prices.html?.v=19
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Thanks for the input FT. That's what I was worried about as far as oil prices go. The boys in OPEC cutting output based on lower prices. So up goes the price just about the time when we are getting a reasonable price. We should raise the price of wheat, corn every time they jack up the price of oil!:mad: :nuts: :D
 
Maybe we should just send them a couple 100 million bags of spinach. :sick:
nnuut said:
Thanks for the input FT. That's what I was worried about as far as oil prices go. The boys in OPEC cutting output based on lower prices. So up goes the price just about the time when we are getting a reasonable price. We should raise the price of wheat, corn every time they jack up the price of oil!:mad: :nuts: :D
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$63.60 a barrel.:)

FUTURES MOVERS
Crude futures poised to extend bounce
Citigroup analyst sees further weakness in store for crude

By Tomi Kilgore, MarketWatch
Last Update: 8:17 AM ET Sep 18, 2006

NEW YORK (MarketWatch) -- Crude-oil futures rose Monday, as traders mounted an early attempt to extend the contract's bounce off yearly lows into a second session.
Crude for October delivery was last up 27 cents at $63.60 a barrel in electronic trading.
Front-month crude closed up 11 cents at $63.33 a barrel on Friday on the New York Mercantile Exchange, rebounding off an intraday low of $62.05 -- the lowest price seen since Dec. 28. See full story.
http://www.marketwatch.com/News/Story/Story.aspx?column=Futures+Movers&siteid=mktw&dist=
 
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:o $63.60 aa barrel at 11:41 EDT
http://money.cnn.com/data/commodities/index.html?

09/18/2006 - Updated 10:57 AM ET
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Oil falls on bets for lower demand, higher outputCitigroup analyst sees further weakness in store for crude
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures moved lower Monday morning to fall under the $63-a-barrel mark, weighed down by market expectations for lower oil demand and higher production.
At the moment, "the only thing preventing the crude-oil market from falling even further is its oversold technical condition," said John Kilduff, an analyst at Fimat USA.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7B83EC623D%2D4E00%2D4B7E%2D97EA%2DDBC0DBF78D72%7D
 
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