Oil Slick Stuff

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11/19/2009 - Updated 7:38 AM ET
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Oil futures fall 1% as dollar gains, European stocks drop
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures fell 1% on Thursday, as a rebound in the U.S. dollar and falling European equities dented investor sentiment.
Crude oil for December delivery dropped 69 cents, or 0.9%, to $78.89 a barrel in electronic trading on Globex. The contract expires on Friday.
http://markets.usatoday.com/custom/...S&guid={A9F42B01-E2B4-45AC-A455-7072676D7BA9}
 
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Crude prices follow world markets downward

Crude prices tumble 3 pct following a sell off on equity markets in Asia, Europe and the US


  • By Chris Kahn, AP Energy Writer
  • On 11:47 am EST, Thursday November 19, 2009
NEW YORK (AP) -- A global sell off on equity markets dragged down crude prices by nearly 3 percent Thursday, the first decline this week. Price for a barrel of crude dropped by more than $1 immediately when U.S. markets opened, with the Dow Jones industrials giving up 130 points. Markets in Asia and Europe fell early in the day.
http://finance.yahoo.com/news/Crude...47.html?x=0&sec=topStories&pos=6&asset=&ccode=
 
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11/20/2009 - Updated 6:53 AM ET
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Crude edges down, extending Thursday's big drop
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By MarketWatch,

LONDON (MarketWatch) -- Crude-oil futures edged lower Friday, in line with slumping demand for other commodities as concerns about the global economy weigh on several asset classes.
After dropping by more than 2% a barrel on Thursday, oil futures fell a further 26 cents to $77.20 a barrel in electronic trading.
http://markets.usatoday.com/custom/...S&guid={DF1E6D1E-C8A1-4E13-89A9-A86C614EE09C}
 
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Has the Dollar stopped going down?

November 20, 2009 · By Adam · Filed Under Trading Videos
The markets are always interesting, but they are particularly interesting right now. click the man in the graphic
Today we’re looking at the dollar index and some important elements that I see building in this market and want to bring to your attention. In this short video I outline the key areas to watch for and one important component that you may not have seen. I think this factor could, in fact, be a short term game changer for this market.
As always our MarketClub videos are free to watch and there is no need to register. Please feel free to leave your feedback regarding this video on our blog.
All the best,
Adam Hewison
President, INO.com
Co-creator, MarketClub
http://club.ino.com/trading/2009/11/has-the-dollar-stopped-going-down/
 
I wonder how much they pay the Sign changer at this 7-11 I monitor...LOL

Gas down .02 to $2.37
 
Oil up, Market up, Oil down, Market down!! DUMB!!:mad:

11/20/2009 - Updated 12:11 PM ET
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Crude drops for second day on stronger dollar
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By Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures fell Friday for a second session, reducing their weekly gains as a rebounding dollar and weaker stock markets continued to weigh on commodities trading.
Crude for December delivery, which expires Friday, fell 82 cents, or 1.1%, to $76.64 a barrel on the New York Mercantile Exchange. Crude is set http://markets.usatoday.com/custom/...S&guid={DF1E6D1E-C8A1-4E13-89A9-A86C614EE09C}
 
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Kind of like having your cake and eating it too..

Mixed feelings on my part...I want low gas/oil prices to keep the economy rolling in the positive direction and also want to see the markets prosper for the same reasons...There has to be a way to seperate oil from commodities...:confused:
 
Buster said:
Kind of like having your cake and eating it too..

Mixed feelings on my part...I want low gas/oil prices to keep the economy rolling in the positive direction and also want to see the markets prosper for the same reasons...There has to be a way to seperate oil from commodities...:confused:
Click to expand...
Nah! It is one of the ultra Commodities! Speculators are driving the price, an idea though.:cool:
 
I thought we needed more Refinery capacity? Last year the price spiked because refineries couldn't handle the load? Folks are just not taking trips , it's the economy STUPID!!:blink:

Valero shuts another oil refinery


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Valero Energy Corp is the top US independent oil refiner

Valero Energy has announced it is permanently shutting down its oil refining plant in Delaware City, with the loss of 550 jobs. The company says the closure of the 210,000 barrel a day plant will reduce operating expenses by $450m (£273m).
The plant is the largest refinery in the US to close this year. Valero also closed its Aruba refinery indefinitely in August.
The recession and slumping fuel demand have squeezed margins for US refiners.
http://news.bbc.co.uk/2/hi/business/8371649.stm
 
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So their shutting down Refineries?:nuts: What happens now?$$$$$

API: U.S. Crude Oil Production Continues at Four-Year Highs
American Petroleum Institute:mad:
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Thursday, November 19, 2009

U.S. crude oil production for October averaged 5.36 million barrels per day, continuing at levels not seen since 2005, according to API's Monthly Statistical Report.
Crude production from the Lower 48 states averaged 4.67 million barrels per day, up from both last year and prior months. Even though crude production last October had recovered from precautionary platform shut-ins in the Gulf of Mexico in the face of hurricanes Gustav and Ike last September, output levels then were still lower than this October's by nearly 15 percent. Meanwhile, Alaskan output, at 696,000 barrels per day, slipped from last October by 2.8 percent but rebounded from this summer's lows of less than 600,000 barrels per day. [more]

http://www.rigzone.com/news/article.asp?a_id=82622&hmpn=1
 
One word:

MANIPULATION

Valero..is one of the highest priced Gas stations in my area..the greedy bastards are probably in-cahoots with a few of the other refineries in order to get the prices up by lowering production (supply)
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I really don't think this is a GOOD reason for Crude Futures to GAIN, is there going to be a war tomorrow or something?:nuts:


11/23/2009 - Updated 6:41 AM ET
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Crude futures gain on Iran worries, dollar weakness Front-month contract rises above $78 a barrel as Tehran launches war games
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Crude-oil futures rose above $78 a barrel on Monday, as Iran started five days of large-scale war games, heightening global political tensions amid worries about potential disruptions of oil supplies.
Crude for January delivery gained 98 cents, or 1.3%, to $78.45 a barrel in electronic trading on Globex. Earlier, the contract hit a high of $78.60 a barrel.
http://markets.usatoday.com/custom/...S&guid={D6998941-809C-432E-9777-94F6A349325C}
 
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I think they suspect Iran is going to try to control supply to get prices to go up to pay for their war games. Question is, will Saudi Arabia want prices to go up too, and limit supply as well? Another possible player is Russia, the wild card in all of this.
 
11/23/2009 - Updated 9:53 AM ET
Oil rises first day in three on Iran worries, dollar weakness
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By Polya Lesova, MarketWatch & Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures rose Monday for the first session in three as Iran started five days of large-scale war games, heightening global political tensions amid worries that oil supplies might be disrupted.
Also helping oil higher: The U.S. dollar tumbled after a Federal Reserve official called for an extension of the central bank's asset-purchase plan http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BD6998941%2D809C%2D432E%2D9777%2D94F6A349325C%7D
 
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11/24/2009 - Updated 7:27 AM ET
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Oil futures little changed ahead of inventory data
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures traded near $77 a barrel on Tuesday, as caution dominated sentiment ahead of U.S. economic data and a report on petroleum inventories.
Crude oil for January delivery dropped 3 cents to $77.53 a barrel in electronic trading on Globex.
"Should the current bullish sentiment on financial markets turn, the oil price may be particularly susceptible to rapid price erosion," said analysts at Commerzbank AG.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BFFB6CB3F%2D0F51%2D4C55%2DA808%2D102A9D0C819E%7D
 
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11/24/2009 - Updated 9:34 AM ET
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Oil futures drop ahead of petroleum supplies report
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By Polya Lesova, MarketWatch & Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Oil futures were under pressure to trade near $77 a barrel on Tuesday, as traders remained cautious ahead of reports expected to show rising U.S. inventories of crude oil.
Oil stayed lower after news the U.S. government revised its estimate of growth in the third quarter down to 2.8% from the 3.5% originally reported, matching economists expectations.
Crude oil for January delivery recently lost 14 cents to $77.42 a barrel in electronic trading on Globex.
http://markets.usatoday.com/custom/...S&guid={FFB6CB3F-0F51-4C55-A808-102A9D0C819E}
 
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