Oil Slick Stuff

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12/30/2009 - Updated 11:08 AM ET
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Crude little changed after EIA petroleum data
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By Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures remained little changed Wednesday after government data showed a decline in last week's U.S. crude inventories that's largely in line with expectations.
Helping the decline in crude inventories, refineries used more crude oil in their fuel production. Meanwhile, crude imports increased, while total petroleum demand remained largely unchanged.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B5FD292E5%2DE3B9%2D40C7%2DB413%2D19215B6E1BC1%7D&loc=interstitialskip
 
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Canada boomtown under pressure



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Jaz, a homeless woman in Fort McMurray, sleeps in a tent in the woods

By Sarah Shenker
BBC News, Fort McMurray, Alberta
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I meet Jaz at the Centre of Hope homeless drop-in centre in downtown Fort McMurray, Alberta, on a freezing cold morning.

She comes here during the day, but says she spends the nights in the woods and offers to show me where, for a fee. I explain that BBC policy forbids it, but she takes me anyway. We stomp through the snow along the Athabasca River, past apartment blocks. She leads me through some thinly spaced trees to a campfire. A bit further on is the tent she uses to store food, and a second tent she sleeps in. Jaz, 34, originally from the neighbouring province of Saskatchewan, is fairly media-savvy. With a smile, she describes being photographed for National Geographic magazine a few months ago. That was not her first media encounter. [more]
http://news.bbc.co.uk/2/hi/americas/7777984.stm
 
China's PetroChina invests in Canada oil sands


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Canada's oil sands mean big investment in the country's north east

Canada's Industry Minister, Tony Clement, has given PetroChina the go-ahead for a $1.7bn (£1bn) acquisition of two oil sand projects. The deal gives the Chinese company 60% control of Athabasca Oil Sands Corporation's MacKay and Dover oil sands deposits in Alberta province.
The two are projected to yield five million barrels of oil, according to the company.
The sands contain the second-biggest store of oil in the world.
They are estimated to hold 175 billion barrels of oil. Only Saudi Arabia holds more. But it is tricky - and costly - to extract oil from such sands.
Only in the past few years has the price of oil been high enough to make it worthwhile. It is currently just short of $80 a barrel. [more]
http://news.bbc.co.uk/2/hi/business/8434603.stm
 
12/31/2009 - Updated 11:07 AM ET
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Oil rises, poised for biggest yearly gain in decadeNatural gas falls as inventories decline less than expected
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By Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures rose Thursday and were poised for their biggest yearly gain in 10 years, helped by a weaker dollar and hopes for an economic recovery. Natural gas fell after data showed inventories fell less than expected last week.
Helping improve economic confidence, government data showed initial jobless claims fell last week to a level lower than expected. In currencies trading, the U.S. dollar was weaker versus most major rivals, pressured by an apparent round of year-end position squaring.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B2E7B3098%2DC67B%2D4F50%2D8D94%2D38FD4826B4F6%7D&loc=interstitialskip
 
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Iraq oil contract goes to Angola's Sonangol


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Angola is the second biggest producer of oil in Africa

The Angolan state-owned oil company, Sonangol, has signed two initial oilfield deals in Iraq. The two, the Qayara and Najmah oilfields, are in Nineveh province, known as one of the most dangerous regions of the country.
There are frequent insurgencies there, as Sunni Islamic militants and al-Qaeda are both active.
Sonangol will be paid between $5 and $6 a barrel, one of the highest fees awarded in Iraq's oil deals.
The two fields combined contain an estimated 1.7 billion barrels of oil.
The deals were awarded in Iraq's second bidding round for oil contracts, held earlier this month. Contracts went to companies including Shell, CNPC and Lukoil.
Risky venture
[more]
http://news.bbc.co.uk/2/hi/business/8435151.stm
 
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Another attempt by China to take over Manufactured goods Market with Government subsidized Products!:nuts:

US Govt To Place Duty On Chinese Oil Country Tubular Goods
U.S. International Trade Commission
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Thursday, December 31, 2009

The United States International Trade Commission (USITC or Commission) on Wednesday determined that a U.S. industry is materially injured or threatened with material injury by reason of imports of certain oil country tubular goods from China that the U.S. Department of Commerce has determined are subsidized.

Status of Proceedings:[more]http://www.rigzone.com/news/article.asp?a_id=84888&hmpn=1
 
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01/03/2010 - Updated 9:06 PM ET
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Crude futures spend time above $80 on Globex
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By Myra P. Saefong, MarketWatch

TOKYO (MarketWatch) -- Crude-oil futures touched an intraday high above $80 a barrel in electronic trading Monday in Asia, finding support from continued expectations for a global economic recovery and rising oil demand in the New Year.
Crude for February delivery climbed as high as $80.01 a barrel on Globex as of Monday morning in Tokyo, before pulling back slightly to $79.96, up 60 cents.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BD579EA7A%2DD3A9%2D4873%2DB1CC%2DF7DA2D21F779%7D&loc=interstitialskip
 
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OIL ABOVE $80 a Barrel!!
Brace yourself Folks this is NOT pretty!!:nuts: gaspump2.gif arrowredup.gif
 
Market Snapshot
Jan. 4, 2010, 9:55 a.m. EST
U.S. stocks kick off 2010 with a rally
Market Following Oil's Lead!!
http://www.marketwatch.com/

By Kristina Peterson, MarketWatch

NEW YORK (MarketWatch) -- U.S. stocks opened higher on the first trading day of the year Monday as investors took encouragement from Federal Reserve officials' weekend statements suggesting that interest rates may remain low in the next few months. [more]
http://www.marketwatch.com/story/us-stocks-kick-off-2010-with-a-rally-2010-01-04
 
Averaging $2.50 a gallon down here!!:mad: Everything looks to HIGHER PRICES for Gasoline in the near future!:blink:
Over $80 = PRICE FIXING
 
nnuut said:
Averaging $2.50 a gallon down here!!:mad: Everything looks to HIGHER PRICES for Gasoline in the near future!:blink:
Over $80 = PRICE FIXING
Click to expand...

Good way to spur the economy, break the backs of the ones just barely hanging on, eh?:suspicious:
 
01/04/2010 - Updated 3:31 PM ET
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Oil tops $81 mark on positive data, weaker dollarNatural gas rallies 5% on cold weather; heating oil also higher
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By Moming Zhou, MarketWatch & Myra P. Saefong, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures rose more than 2% Monday to climb above $81 a barrel for the first time in two months, boosted by upbeat economic data in the U.S. and China and by a weaker dollar. Natural gas rallied on concerns that cold weather will push up demand.
The U.S. manufacturing sector expanded in December for the fifth straight month, and China's manufacturing activity accelerated in December at its fastest pace in several years.
Crude for February delivery ended up $2.15, or 2.7%, at $81.51 a barrel on the New York Mercantile Exchange, the highest settlement level since Oct. 22.[more]
http://markets.usatoday.com/custom/...S&guid={D579EA7A-D3A9-4873-B1CC-F7DA2D21F779}
 
01/05/2010 - Updated 9:25 AM ET
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Oil falls first day in nine as investors await inventories data
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By Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures edged lower Tuesday from their highest level in 14 months, falling for the first session in nine as investors await weekly petroleum data expected to show U.S. crude inventories rose last week.
Also on the radar are pending home sales and factory orders data due later in the morning, which could give further indications of the status of the U.S. economy.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BABF7EF07%2DB76D%2D4E18%2DA76D%2D8527062DD5D6%7D
 
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Market Update

February crude is whipsawing around this morning. At the open of pit trading, crude spiked off a session low of $81.27 per barrel, back into positive territory and back near session highs of $81.99 per barrel. After pulling back, in which it fell back into the red momentarily, crude is 0.3% higher at $81.74 per barrel. February natural gas has traded in negative territory all session, putting in lows this morning of $5.761 per MMBtu. Natural gas is currently at $5.818 per MMBtu, 1.1% lower. [more]
http://finance.yahoo.com/marketupdate/overview?u
 
01/05/2010 - Updated 1:49 PM ET
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By Moming Zhou, MarketWatch
Oil falls for first day in nine; traders await inventories data

NEW YORK (MarketWatch) -- Crude-oil futures edged lower Tuesday, easing from their highest level in 14 months and pulling back for the first session in nine, as energy traders await petroleum data expected to show U.S. crude inventories rose last week.
Also pushing oil lower, the U.S. dollar turned higher against most of its major rivals, weighing on dollar-denominated commodities prices. Also on the radar were pending home sales and factory orders data.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BABF7EF07%2DB76D%2D4E18%2DA76D%2D8527062DD5D6%7D
 
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