Oil Slick Stuff

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11/12/2009 - Updated 7:05 AM ET
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Oil prices drop ahead of data on petroleum inventories
Traders shrug off demand forecast revision by International Energy Agency
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil prices declined on Thursday, tracking losses in stock-index futures, as the market awaited government data that's expected to show a buildup in U.S. crude inventories.
The International Energy Agency revised higher its view of global oil demand for 2009 and 2010, but that failed to boost crude prices.
Crude oil for December delivery fell 60 cents, or 0.8%, to $78.68 a barrel in electronic trading on Globex.
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Market Update

11:00 am : Choppy action persists as stocks struggle to set forth in a clear direction. Meanwhile, oil prices are making a sharp move lower.
Oil prices are now down 2.9% to $77.00 per barrel. Their losses have been exacerbated by a larger-than-expected weekly inventory build of 1.76 million barrels of crude and a surprise build of 2.56 million barrels of gasoline.
Weakness in oil prices has weighed on the energy sector.
http://finance.yahoo.com/marketupdate/overview?u
 
FRIDAY THE 13TH!! Be very careful. eye5.gif

11/13/2009 - Updated 7:09 AM ET
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Oil futures gain as U.S. dollar falls vs. rivals
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures rebounded early Friday after their decline in the previous session, as the greenback fell against other major currencies, drawing investors into the energy market.
Crude oil for December delivery gained 34 cents to $77.28 a barrel in electronic trading on Globex.
Earlier in the session, it rose to an intraday high of $77.67.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B4D7BE31B%2D87F3%2D472E%2DAEB1%2D09D94E043B7B%7D
 
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11/13/2009 - Updated 9:32 AM ET
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Oil futures dip after trade data
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By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude oil futures lost early gains on Friday, after government data showed the U.S. trade deficit widened more than expected and with the market still digesting news of rising crude inventories.
December crude oil futures were down 85 cents, or 1%, at $76.09 a barrel in electronic trade on Globex. It earlier rose to $77.28 a barrel, receiving a boost as the dollar fell against other major currencies.
http://markets.usatoday.com/custom/...S&guid={4D7BE31B-87F3-472E-AEB1-09D94E043B7B}
 
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Wonder if gas will go down any this weekend since oil settled lower than it started...they didn't waste anytime raising it a nickle when it touched over $80.00 for one day....bastards:mad:
 
$4 dollar gasoline in 2010


http://www.dailyfinance.com/2009/11/12/pumped-up-prices-4-per-gallon-gasoline-may-be-coming-in-2010/

"Kerr said six factors are likely to continue to put upward pressure on gasoline prices in the U.S.: 1) more weakness in the dollar 2) increasing oil demand in China, 3) no readily available vehicle fuel substitute for gasoline in the U.S., 4) geopolitical tension, 5) inelastic gasoline demand in the U.S. (people can reduce gasoline consumption only so much), and 6) a lack of new, more efficient refineries in the U.S.



(Glad I burn only E85)
 
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James48843 said:
$4 dollar gasoline in 2010


http://www.dailyfinance.com/2009/11/12/pumped-up-prices-4-per-gallon-gasoline-may-be-coming-in-2010/
"Kerr said six factors are likely to continue to put upward pressure on gasoline prices in the U.S.: 1) more weakness in the dollar 2) increasing oil demand in China, 3) no readily available vehicle fuel substitute for gasoline in the U.S., 4) geopolitical tension, 5) inelastic gasoline demand in the U.S. (people can reduce gasoline consumption only so much), and 6) a lack of new, more efficient refineries in the U.S.

"
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You mean he's just now getting it?..This is nothing new, the Oil Moguls have been using these excuses for the last 5 years..:D
 
Buster said:
You mean he's just now getting it?..This is nothing new, the Oil Moguls have been using these excuses for the last 5 years..:D
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It wouldn't be this way if the present administration would promote Oil exploration and development, But NO, Hell NO they are stifling, strangling, choking, prohibiting and we are the ones that will pay through nose for this folly. STUPID!!:nuts: Remember my rants about energy, for in the near future you will understand why I'm so upset.
Now I feel much better!!:D Drill, Drill, Drill oilrig1.gif
 
Another drop in the bucket!! :)

Central GOM Sale to Offer 36MM Acres for Oil, Gas Devt
Minerals Management Service
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Friday, November 13, 2009

Interior Chief Ken Salazar​

Secretary of the Interior Ken Salazar today announced the Department will hold an oil and natural gas lease sale for the Central Gulf of Mexico Outer Continental Shelf that will offer nearly 36 million acres and could produce up to 1.3 billion barrels of oil and 5.4 trillion cubic feet of natural gas.
http://www.rigzone.com/news/article.asp?hpf=1&a_id=82445
 
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nnuut said:
Another drop in the bucket!! :)

Central GOM Sale to Offer 36MM Acres for Oil, Gas Devt
Minerals Management Service
|
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At least it is a step in the right direction..I just wish all bureaucratic BS didn't take so long to get things rollin..
 
11/16/2009 - Updated 5:59 AM ET
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Crude prices gain as U.S. dollar falls vs. other currencies
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures rose on Monday, as the decline in the value of the dollar continued to attract investors into crude and outweighed the market's weak fundamentals.
Crude oil for December delivery gained 87 cents, or 1.2%, to $77.22 a barrel in electronic trading on Globex.
Earlier, it rose to an intraday high of $77.57.
://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B98310FD2%2D31B2%2D426E%2D886A%2DB8B58951BF2D%7D
 
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5) inelastic gasoline demand in the U.S. (people can reduce gasoline consumption only so much)

Ha. Let em see how little Americans can use when they dont have jobs to drive to - :blink:
 
11/17/2009 - Updated 6:25 AM ET
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Crude futures drop as traders await inventory data
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures declined on Tuesday after they surged in the previous session, as the U.S. dollar's modest rebound encouraged investors to lock in some gains.
Crude oil for December delivery fell 38 cents, or 0.5%, to $78.52 a barrel in electronic trading on Globex.
"Crude-oil prices are down slightly, as a slight strengthening in the dollar is forcing a modest retracement," wrote Edward Meir, analyst at MF Global, in a note to clients.
http://markets.usatoday.com/custom/...S&guid={E892EEFE-A244-4355-8DDC-C0AFDB37E450}
 
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A little DRILLIN' News!

BP Confirms Western Extension of Kaskida Field in GOM
BP plc

Monday, November 16, 2009



GOM Lower Tertiary Discoveries​



BP confirmed that an appraisal well to test a western extension of the Kaskida field has confirmed oil in Lower Tertiary reservoirs five miles to the west of the Kaskida discovery well.
The well, drilled to a total depth of 32,500 feet by the West Sirius semisub, is located in Keathley Canyon block 291 in 5,675 feet of water and 250 miles southwest of New Orleans.

http://www.rigzone.com/news/article.asp?hpf=1&a_id=82471
 
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PLENTY HIGH ENOUGHT! You can stop now!!:mad:

Forget $100 oil. $80 oil is a problem

Energy prices don't need to rise that much before a fragile consumer-led economy could face another setback.

By Colin Barr, senior writer

Last Updated: November 18, 2009: 7:16 AM ET


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6 double dip warning signs

The recovery from the Great Recession has likely started. But many economists are worried about falling into another downturn. Here's what has them concerned. View photos



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(Fortune) -- Are cash-strapped American consumers on for another date with energy price misery?


The U.S. economy remains weak and one in six Americans can't find enough work. Yet oil prices have risen steadily this year. A barrel of crude costs $79 and change, more than double its price at the end of 2008.
This year's runup pales in comparison to the one that peaked last summer above $145 a barrel. Even so, some researchers warn we could once again be approaching the point at which rising energy costs will squeeze consumers.
http://money.cnn.com/2009/11/18/news/economy/oil.prices.fortune/index.htm
 
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nnuut said:
We have been stuck at $2.45 for about 2 weeks! :suspicious:
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It's almost too blatant around here..As soon as oil is up for one day..gas will go up accordingly that night...But if oil goes down for a day or two, gas stays the same for about 5 days from the last push and may not change much at all...Greedy buggers:suspicious:
 
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