Oil Slick Stuff

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They have a perfect right to protest. Where I live our rates for natural gas heating went *down*, along with the price of natural gas.:notrust:
 
10/27/2009 - Updated 3:37 PM ET
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Oil gains before data seen reflecting drop in refined products
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By Polya Lesova, MarketWatch & Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Crude futures gained 1% to finish above $79 a barrel on Tuesday, as traders turned to data expected to show rising crude supplies but a drop in refined products inventories.
Crude for December delivery ended up 87 cents, or 1%, at $79.55 a barrel on the New York Mercantile Exchange.
http://markets.usatoday.com/custom/...S&guid={EB803F61-99E2-4F64-895B-AC7E4C9E36D8}
 
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BP profits ahead of expectations


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BP's profits halved, but they were still ahead of expectations

Oil giant BP has reported third-quarter profits well ahead of expectations, sending its share price up nearly 4%. Its replacement cost profit between July and September was $4.98bn (£3bn). Experts said the figure had "obliterated" market forecasts.
BP's results were boosted after it made bigger-than-expected cost cuts.
But profit was down 50% from the $10bn it made a year ago, as oil - currently trading at about $80 a barrel - is well below the $147 high set in July 2008.
http://news.bbc.co.uk/2/hi/business/8327254.stm
 
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Record of Decision Clears Way for Deepwater LNG Port in Florida
Hoegh LNG
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Tuesday, October 27, 2009

Port Dolphin Energy, LLC, reported that a Record of Decision has been signed in its application for a license to build a deepwater liquefied natural gas (LNG) port off the West Coast of Florida.
The Record of Decision paves the way to the awarding of a deepwater port license to be issued by the U.S. Maritime Administration. http://www.rigzone.com/news/article.asp?a_id=81821&hmpn=1
 
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10/28/2009 - Updated 7:13 AM ET

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Oil futures drop 1% as traders shrug off inventory decline Energy Information Administration due to report its supply data on Wednesday
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures fell 1% on Wednesday, as investors locked in some of their recent gains and shrugged off a decline in crude inventories reported by the American Petroleum Institute.
Crude oil for December delivery declined 75 cents, or 1%, to $78.80a barrel in electronic trading on Globex.
http://markets.usatoday.com/custom/...S&guid={60BEF921-F44A-4070-8F2F-41F6A6ACD6FE}
 
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10/28/2009 - Updated 1:01 PM ET

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Crude futures slump below $78 as gasoline supplies rise. Big drop across the energy complex; traders mull OPEC's next move
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By Polya Lesova, MarketWatch & Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures slumped more than 2% to trade below 78 a barrel Wednesday, retreating as the Energy Department reported an unexpected increase in gasoline supplies and as mixed U.S. economic data provided a lift for the dollar.
Crude for December delivery was recently down $2.07, or 2.6%, at $77.50 a barrel. On Tuesday, oil prices ended 1% higher in a volatile trading session on the New York Mercantile Exchange.
http://markets.usatoday.com/custom/...S&guid={60BEF921-F44A-4070-8F2F-41F6A6ACD6FE}
 
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Oil prices fall below $78 a barrel after surprise build in gasoline supply


  • By Dirk Lammers, AP Energy Writer
  • On 3:03 pm EDT, Wednesday October 28, 2009
Energy prices slumped Wednesday after the Energy Department reported a higher than expected jump in U.S. gasoline supplies.
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AP - Oil traders work in the options pit on the floor of the New York Mercantile Exchange Wednesday, Oct.

Retail gasoline prices have ticked upward since the middle of the month, around the same time that crude futures rose above $75 per barrel for the first time this year.
The rising cost of crude and ensuing production cuts by refiners who are also stung by those prices has helped push gasoline prices higher for 15 days in a row.
The report by the Energy Information Administration Wednesday seemed to wash away fears of tightening supply, at least for now.
Gasoline supplies rose by nearly 2 million barrels though many energy analysts had expected supplies to fall for a third week in a row. [more]
http://finance.yahoo.com/news/Energ...59.html?x=0&sec=topStories&pos=4&asset=&ccode=
 
10/29/2009 - Updated 7:22 AM ET

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Oil futures gain modestly ahead of U.S. GDP report
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures traded slightly higher on Thursday, as the U.S. dollar fell against its major rivals ahead of U.S. gross domestic product data, boosting the appeal of dollar-denominated commodities.
Crude oil for December delivery gained 25 cents to $77.71 a barrel in electronic trading on Globex. The contract earlier rose to an intraday high of $77.87.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BD288A42B%2D9B5C%2D49C2%2DAB52%2D04931B6DA40B%7D
 
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Poor Poor EXXON:suspicious:

Exxon Mobil earnings plunge 68%

The energy giant says lower commodity prices weighed on sales and profit during the third quarter.

By Ben Rooney, CNNMoney.com staff reporter

Last Updated: October 29, 2009: 9:20 AM ET

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NEW YORK (CNNMoney.com) -- Exxon Mobil reported a 68% decline in third-quarter earnings Thursday as oil and natural gas prices tumbled from last year's highs.
The world's largest publicly traded oil company said it earned $4.73 billion in the second quarter, down 68% from $14.83 billion a year earlier. On a per-share basis, Exxon said it earned 98 cents, down from $2.85 in the third quarter of 2008.
The results were below forecasts. Analysts surveyed by Thomson Reuters were expecting earnings of $1.03 per share.
Rex Tillerson, Exxon's chairman, said the results were "impacted by lower commodity prices and weak product margins."
Exxon reported the largest annual profit in U.S. history last year, making $45.22 billion on the back of record oil prices. But the company's earnings have declined along with oil prices as the global economy contracted.
Oil prices averaged around $68 a barrel in the third quarter, compared with an average price of $118 a barrel in the same period during 2008.
While prices remain below last year's highs, oil has rebounded 67% so far this year as economic conditions have improved, encouraging investors to jump back into the market.
"Oil prices have actually been pretty resilient," said Jason Gammel, an analyst who covers Exxon at Macquarie Research Equities. "Demand hasn't resurfaced yet, but the market is building in a expectation of economic recovery next year."
Exxon (XOM, Fortune 500) said revenue plunged to $82.26 billion in the quarter from $137.74 billion a year earlier. Analysts had forecast sales of $85.16 billion.
Capital and exploration spending fell 5% to $6.5 billion in the quarter, while production rose 3%.
The company said it invested $19 billion through the first three quarters of the year to develop new energy supplies.
"Despite ongoing global economic weakness and reduced demand for products, we continued our robust investment program and delivered strong results," Tillerson said in a statement.
Shares of the Irving, Texas-based company fell 1.7% to $72.58 in pre-market trading.
http://money.cnn.com/2009/10/29/news/companies/exxon_mobil/index.htm
 
10/30/2009 - Updated 6:55 AM ET
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Oil futures give back some of previous day's surge
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Crude futures edged lower on Friday after their 3.1% surge in the previous session, as traders locked in some of their recent gains.
Crude oil for December delivery fell 26 cents, or 0.3%, to $79.61 a barrel in electronic trading on Globex.
The contract had earlier risen to an intraday high of $80.27 a barrel.
http://markets.usatoday.com/custom/...S&guid={C3C7F62A-404E-481F-AAD0-A50F419A41E2}
 
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10/30/2009 - Updated 11:15 AM ET
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Oil futures give back some of previous day's surge Crude still set to gain more than 11% for October as dollar slumps
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By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures dipped on Friday after a 3.1% surge in the previous session on news the U.S. economy returned to growth, as a mixed batch of economic reports led traders to reassess the outlook for energy demand.
Crude oil for December delivery was recently down 80 cents, or 1%, at $79.07 a barrel on the New York Mercantile Exchange. [more]http://markets.usatoday.com/custom/...S&guid={C3C7F62A-404E-481F-AAD0-A50F419A41E2}
 
  • By Sam Hananel, Associated Press Writer
  • On 11:31 am EDT, Friday October 30, 2009
WASHINGTON (AP) -- The Occupational Safety and Health Administration on Friday issued a record $87 million fine against oil giant BP PLC for failing to correct safety hazards after a 2005 explosion killed 15 workers and injured 170 at its Texas City refinery.
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AP - FILE - In this March 25, 2005 file photo, steam released from the BP oil refinery floats across ...

The fine -- the largest in OSHA's history -- comes after a 6-month inspection revealed hundreds of violations of a 2005 agreement to repair hazards at the refinery.
http://finance.yahoo.com/news/OSHA-...67.html?x=0&sec=topStories&pos=4&asset=&ccode=
 
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Gas around here has fluckuated .02 to .04 every other day and sometimes, twice in the same day...WTH??:blink:
 
10/30/2009 - Updated 1:27 PM ET
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Oil futures give back most of previous day's surge Crude still set to gain nearly 10% for October on dollar slump
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By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures fell on Friday after a 3.1% surge in the previous session on news the U.S. economy returned to growth, as a mixed batch of economic reports led traders to reassess the outlook for energy demand.
Crude oil for December delivery was recently down $1.97, or 2.5%, at $77.90 a barrel on the New York Mercantile Exchange.
http://markets.usatoday.com/custom/...S&guid={C3C7F62A-404E-481F-AAD0-A50F419A41E2}
 
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Retail gas prices highest in a year Up and away -- retail gas prices hit new high at $2.70; crude takes a tumble to end week:mad:


By Mark Williams, AP Energy Writer
  • On 3:15 pm EDT, Friday October 30, 2009
Retail gasoline prices chugged higher Friday to a new peak for the year, forcing consumers to dig deeper into already-thin wallets to pay for fuel.

At the same time, natural gas prices also were moving up again and have now climbed 16 percent in the past two months -- just in time for furnace season to kick in.
The worst part: Supplies of oil and gas are plentiful. In fact, storage points for gas are so jammed, producers are running out of places to put it and crude supplies are well above average levels.
http://finance.yahoo.com/news/Retai...37.html?x=0&sec=topStories&pos=4&asset=&ccode=
 
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