Oil Slick Stuff

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Oil hits 3-week high

Futures climb near $69 a barrel as overseas stock rally raises hopes of a rebound in energy demand.

July 27, 2009: 7:45 AM ET


Click the chart for current oil prices.



LONDON (Reuters) -- Oil rose for a third session on Monday to hit the highest in more than three weeks near $69 a barrel as stock markets gained on hopes of an economic recovery that would boost fuel demand.
European stocks firmed slightly following gains in Asia, where equities rose for the ninth day in 10 as investors focused on better corporate earnings and moving money into riskier, higher yielding assets.
http://money.cnn.com/2009/07/27/markets/oil.reut/index.htm?postversion=2009072707
 
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Looks like they are tyring to control the SPECULATORS that are responsible for the jump to $147 a barrel last year. Good Luck!:(

CFTC set to tackle position limits, exemptions

July 27, 2009: 04:45 PM ET

By Christopher Doering

WASHINGTON, (Reuters) - The Obama administration's move to tame the volatile commodity and energy markets gets under way with hearings this week that promise to expose a wide fissure of disagreement over how it should be done.
The Commodity Futures Trading Commission will hold the first of three hearings on Tuesday to consider whether to limit holdings of energy and agricultural contracts and whether some traders should be allowed to exceed so-called position limits.
http://money.cnn.com/news/newsfeeds/articles/reuters/MTFH04715_2009-07-27_20-45-06_N27526411.htm
 
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Hmmm.. oil taking a little plunge today? I guess the big boy primary dealers are dumping their oil and taking some profits so they can buy up the treasuries during the auctions this week... just can't tell if they're dumping more oil than equities... (so the circle jerk continues)

either way I sure would like to see a big plunge for the rest of the week ... oops... I probably jinxed it ;)
 
Minnow said:
Hmmm.. oil taking a little plunge today? I guess the big boy primary dealers are dumping their oil and taking some profits so they can buy up the treasuries during the auctions this week... just can't tell if they're dumping more oil than equities... (so the circle jerk continues)

either way I sure would like to see a big plunge for the rest of the week ... oops... I probably jinxed it ;)
Click to expand...
I've been waiting on that plunge for TOOOO long!!:sick:
 
UPDATE 2-Shell works to fix Gulf of Mexico pipeline leak

Tue Jul 28, 2009 9:23pm BST
(Recasts adding environmental impact, comments and oil prices; adds byline and NEW YORK to dateline)
By Bruce Nichols and Joshua Schneyer


HOUSTON/NEW YORK, July 28 (Reuters) - Shell and the U.S. Coast Guard rushed Tuesday to contain 1,400 barrels of crude oil spilled into the Gulf of Mexico from a leaking Shell-operated pipeline, fighting back an oil slick with skimmer ships and airplanes.

More: http://uk.reuters.com/article/idUKN2815609520090728
 
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Leak in Oil Pipeline and spill of 1,400 barrels of oil so far (58,000 gallons of oil)= Lots and lots of dead fish, dead shrimp, dead sea creatures, etc.


Had it been an ethanol leak, the fish would have only gotten drunk.

One more reason to switch from poisonous "black death liquid" - to the great American made alternative- Ethanol.
 
James48843 said:
Leak in Oil Pipeline and spill of 1,400 barrels of oil so far (58,000 gallons of oil)= Lots and lots of dead fish, dead shrimp, dead sea creatures, etc.


Had it been an ethanol leak, the fish would have only gotten drunk.

One more reason to switch from poisonous "black death liquid" - to the great American made alternative- Ethanol.
Click to expand...


You go Jimbo..I Love it!:D
 
Sorry Jimbo, I'm enough of a fish toxicologist to be dangereux. Fish get drunk? (maybe) and then they die from alcohol poisoning.
 
Bad stuff leaks, poor maintenance, neglect and Corn Whiskey drinking regulators!!:D

Oil settles below $68

Investors shy away from risky commodities and stocks after a report shows consumer confidence was weaker-than-expected in July.

Last Updated: July 28, 2009: 3:24 PM ET


Click the chart for current oil prices.



NEW YORK (Reuters) -- Oil prices fell Tuesday after data showing a drop in U.S. consumer confidence spurred concerns about the economy and sent investors into safer havens.
An index of U.S. consumer confidence dropped to 46.6 in July from 49.3 in June, below analyst expectations of 49.0, recording its second consecutive decline as sentiment remained hampered by a difficult job market.
http://money.cnn.com/2009/07/28/markets/oil.reut/index.htm?postversion=2009072815
 
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alevin said:
Sorry Jimbo, I'm enough of a fish toxicologist to be dangereux. Fish get drunk? (maybe) and then they die from alcohol poisoning.
Click to expand...
The key thing here is; MODERATION!
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Crude Supplies SURGE!!!:D

Oil futures tumble nearly 6% as crude supplies surge
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By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Oil futures tumbled below $64 a barrel on Wednesday, or nearly 6%, accelerating their decline after the government reported a much bigger-than-expected build in U.S. crude inventories.
A plunge in Shanghai equities overnight as well as a sell-off in U.S. shares also weighed on oil prices.
http://markets.usatoday.com/custom/...S&guid={B3E024AE-8125-4EA6-97DC-D4F96B552B29}
 
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Oil and Gas down 2 days in a row and headed lower do to inventories Greater than Expected.
Does anyone see a drop at the pump yet? Still headed higher around here, $2.43 a gal?
http://www.gasbuddy.com/ smoking_baby.gif
 
Crude slips further after inventory build-up
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By V. Phani Kumar, MarketWatch
HONG KONG (MarketWatch) -- Crude-oil futures extended losses in electronic trading Thursday, adding to their large New York fall on the U.S. government's report of a sharp build-up in inventory stockpiles.
Benchmark Nymex crude for September delivery was down 12 cents at $63.23 a barrel on Globex in the Asian afternoon, having recovered from the day's lowest price of $62.76 a barrel.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BE2DC9201%2D8FAD%2D4BA7%2DA0DB%2DD904E0242EC5%7D
 
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Oil bounces above $64 :mad:


By Christopher Johnson

LONDON (Reuters) - Oil rose above $64 a barrel on Thursday, boosted by stock markets in Europe and Asia, better than expected corporate results and data suggesting the economic downturn was bottoming out.
The rally followed a drop of almost 6 percent on Wednesday in the wake of U.S. data showing a big jump in crude inventories and on concerns over the outlook for Chinese economic growth following a fall in its stock markets.
http://finance.yahoo.com/news/Oil-b...95.html?x=0&sec=topStories&pos=4&asset=&ccode=
 
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The Market jumps UP and Oil and gas follow, there is something wrong with that, why are stocks and commodities rising and falling together?
 
This sounds familiar:

Britain Entices Power Trading as Brown Bemoans Oil (Update2)



By Lars Paulsson
data


July 30 (Bloomberg) -- Britain, the only European power market to shrink in the past six years, wants hedge funds, banks and commodity firms to trade more electricity at a time when Prime Minister Gordon Brown seeks to quash oil speculation.
http://www.bloomberg.com/apps/news?pid=20601109&sid=awRn1AJBbZl0
 
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Do Ya think they might be cookin' the books? barbeque.JPG

Exxon Mobil profits plunge 66%

The energy company says the weak global economy and volatile oil prices hurt second-quarter results.

By Ben Rooney, CNNMoney.com staff writer
Last Updated: July 30, 2009: 10:15 AM ET


v2-cnnmoney-chart1.jpg.mkw.gif

oil.jpg.mkw.gif


NEW YORK (CNNMoney.com) -- Exxon Mobil reported a 66% decline in second-quarter earnings Thursday due to weak energy demand and volatile oil prices.
The world's largest publicly traded oil company said it earned $3.95 billion in the second quarter, down from $11.68 billion a year earlier. On a per-share basis, Exxon said it earned 81 cents, down from $2.22 in the second quarter of 2008.
http://money.cnn.com/2009/07/30/news/companies/XOM_earns/index.htm?postversion=2009073010
 
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