Oil Slick Stuff

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James48843 said:
Well Buster, I think you jinxed it.

On my way home tonight- gas prices have jumped UP a DIME since this morning.
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I'm about ready to go postal on some OIL companies CEOs !!
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nnuut said:
Don't blame it on them!!!! They lost all support for Oil Exploration and support from Washington, higher taxes etc.:nuts:
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Are you saying that this Administration is padding the pockets of the Arabs and Hugo?...say it isn't so..:(
 
Oil breaking over $61 a barrel is NOT a good sign, although it may help equities today!:cool:
 
Oil hovers above $60 as investors eye inventories

Oil hovers above $60 as investors eye US crude inventories for signs of demand

  • Pablo Gorondi, Associated Press Writer
  • On Wednesday May 20, 2009, 9:15 am EDT
Oil prices hovered above $60 a barrel Wednesday as investors looked to U.S. inventory data later in the day for clues about the strength of crude demand.

Benchmark crude for July delivery was up 54 cents to $60.64 a barrel by mid-afternooon in Europe in electronic trading on the New York Mercantile Exchange. On Tuesday, the contract rose 51 cents to settle at $60.10.

http://finance.yahoo.com/news/Oil-h...302321.html?sec=topStories&pos=8&asset=&ccode=
 
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Higher and Higher, if inventories are lower than expected the price of Oil/Gas will get another boost!!

SEE!
Stocks get a boost at the open

Higher oil, Geithner comments help lift markets.

By CNNMoney.com staff
May 20, 2009: 9:40 AM ET

The government is engaged in a far-reaching - and expensive - effort to rescue the economy. Here's how you can keep tabs on the bailouts. More

NEW YORK (CNNMoney.com) -- Stocks opened higher Wednesday, as oil prices rose to a six-month high and Treasury Secretary Tim Geithner addressed Congress.
The Dow Jones industrial average (INDU) was up 0.8% shortly after the opening bell. The S&P 500 (SPX) index gained nearly 1%. The Nasdaq composite (COMP) advanced 0.6%.
http://money.cnn.com/2009/05/20/markets/markets_newyork/index.htm?postversion=2009052009
 
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Inventories lower than expected!!:mad:

Oil holds gains, at 6-month high

Government reports that crude oil and gasoline inventories fell last week. Another up day on Wall Street also props prices.

By Catherine Clifford, CNNMoney.com staff writer
Last Updated: May 20, 2009: 11:34 AM ET

Click on the chart to see the price of oil and other commodities.

NEW YORK (CNNMoney.com) -- Oil prices held onto gains Wednesday, trading at a 6-month high, after a government supply report showed stockpiles shrinking and U.S. stocks rallied.

U.S. light crude for July delivery was up $1.33 to $61.43 a barrel. Oil had traded up $1.59 to $61.69 a barrel just prior to the report's release.
The price was the highest it has been intraday since early November. Wednesday was the first day of front-month trading for the July contract.
Supply and demand shrinking: In its weekly inventory report, the Energy Information Administration said crude stocks decreased by 2.1 million barrels in the week ended May 15. Analysts were looking for a drop of 1.5 million barrels of crude oil, according to a consensus estimate of industry analysts surveyed by Platts, a global energy information provider.
http://money.cnn.com/2009/05/20/markets/oil/index.htm?postversion=2009052011
 
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Looks to me that OIL prices had a mind of it's own, in spite of today's dipping market prices:mad:
 
Up ANOTHER dime last night. Gasoline now at $2.49 where I am.

The price advantage of E85 continues to grow.
 
Dollar is falling, the lower the Dollar the higher the price!!:sick:

Dollar falls to 5-month low on euro

Pound also hits 5-month high against greenback, as investors seek higher risk.

Last Updated: May 20, 2009: 11:47 AM ET

Click the chart to view the latest currency prices.

NEW YORK (Reuters) -- The dollar hit its lowest level in nearly five months against the euro and a basket of major currencies on Wednesday, continuing its slide as investors stuck to the view that the worst of the global financial crisis had passed.

That reduced safe-haven demand for the dollar and bolstered assets perceived to have higher risk, such as stocks, emerging market currencies, and commodity-based units such as the Australian and New Zealand dollars.
"Overall, this is still a green-shoots rally. It's evident in crude oil above $60, it's evident in stocks, and it's to some extent being driven by animal spirits," said Michael Woolfolk, senior currency strategist, at Bank of New York Mellon in New York.
He added that money was flowing out of dollar-denominated deposits and going back into higher-risk assets.[more]

http://money.cnn.com/2009/05/20/markets/dollar.reut/index.htm?postversion=2009052011
 
Every little excuse will seem to work..

Due to an abnormally wet spring and the abundance of mosquitoes, ....the price of gasoline rises:rolleyes:
 
Buster said:
Every little excuse will seem to work..

Due to an abnormally wet spring and the abundance of mosquitoes, ....the price of gasoline rises:rolleyes:
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Exactly!!! The chance of a Major Hurricane hitting the Gulf of Mexico is greater this year so we are raising the price by $.90 a Gallon!! CROOKS!!:nuts:
 
Oil drops below $61 as big rally pauses

Oil drops below $61, easing off 6-month high after jumping on inventories data

  • Pablo Gorondi, Associated Press Writer
  • On Thursday May 21, 2009, 9:15 am EDT
Oil prices eased off six-month highs Thursday after rallying the day before to above $62 a barrel on a bigger-than-expected fall in U.S. crude inventories.

Benchmark crude for July delivery was down $1.16 to $60.88 a barrel by midday in Europe in electronic trading on the New York Mercantile Exchange.
In London, Brent prices fell $1 to $59.59 a barrel on the ICE Futures exchange.
http://finance.yahoo.com/news/Oil-d...315276.html?sec=topStories&pos=5&asset=&ccode=
 
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Summer's here. So are higher gas prices

But 15% runup in past 3 weeks pales in comparison to 2008's surge, and isn't likely to match the record highs.

By Julianne Pepitone, CNNMoney.com
May 21, 2009: 1:34 PM ET

NEW YORK (CNNMoney.com) -- With the Memorial Day weekend and summer driving season approaching, motorists are facing a familiar trend -- surging gasoline prices.

But while pump prices have increased more than 15% over the last 23 days, and are likely to go even higher over the coming weeks, experts don't foresee anything like the record levels of 2008.
http://money.cnn.com/2009/05/21/news/economy/gas_price_trends/index.htm?postversion=2009052113
 
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James48843 said:
Up ANOTHER dime last night. Gasoline now at $2.49 where I am.

The price advantage of E85 continues to grow.
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Amazing.

Due to (fill in the blank here.....More cars, less cars, more cash, less cash...GM's pending bankruptcy, etc, etc, etc, ) the price of gasoline is

Up ANOTHER dime overnight, now to $2.59.


Happy Memorial Day weekend, everyone.....


(Still paying $1.99 for E85. Thank goodness I burn nothing but American made fuel.)
 
So this is the SWEET SPOT, I don't think so RICHARD CRANIUM, $50 range is better!!:cool:
Gas goes up the weekend I'm traveling to Biloxi MS (400 Miles) that's what I call GOOD TIMING!!:o

$60 - oil's sweet spot

Rising crude prices shouldn't derail any economic recovery, and may prevent a super spike later on.

By Steve Hargreaves, CNNMoney.com staff writer
May 22, 2009: 4:07 AM ET

oil_chart.mkw.gif


Gas jumps 25 cents in 3 weeks
Story of 2 downturns


See how the Great Depression and the 'Great Recession' measure up against one another.

NEW YORK (CNNMoney.com) -- You've probably noticed it at the gas pump.
$1.88, $2.01, $2.21. Price data from the government over the last few weeks clearly show gas is on the rise. On Thursday it averaged $2.36 a gallon, according to the motorist organization AAA.
 
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