Oil Slick Stuff

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02/23/2010 - Updated 8:25 AM ET
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Commodities weaken as dollar edges up
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By Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) -- A stronger dollar helped push down gold and crude oil futures on Tuesday, with crude retreating back below the $80-a-barrel level.
The U.S. dollar index rose 0.5% to 80.75, with the greenback pulling investors away from commodity futures.
http://markets.usatoday.com/custom/...S&guid={F67A8C10-9A3E-420D-9340-EADF299C4666}
 
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Gas leaped from $2.39 to $2.49 overnight...:suspicious:

Who was it that use to say gas prices and oil prices don't directly corresponded immediately as the change in Oil prices happen, that it takes at least a couple of months?...Yeah Right!!!!
 
02/23/2010 - Updated 9:45 AM ET
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Oil falls below $80 a barrel as dollar edges upNatural gas drops under $5 per thousand cubic feet
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By Deborah Levine, MarketWatch & Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) -- A stronger U.S. dollar helped push down oil futures on Tuesday, while natural gas futures fell below $5 per thousand cubic feet for the first time in three months.
With news out of Germany and the U.K. dampening investor-optimism about the strength of the economic recovery, the dollar edged up as a haven.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BF67A8C10%2D9A3E%2D420D%2D9340%2DEADF299C4666%7D
 
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02/23/2010 - Updated 3:22 PM ET
Crude-oil futures down along with consumer confidenceDisappointing sentiment data halt rally in crude
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By Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures on Tuesday retreated after more than two weeks of gains as a measure of consumer sentiment declined sharply, pushing oil prices further below $80 a barrel.
"People are starting to worry about the recovery," said Mike Zarembski, senior commodities analyst at OptionsXpress.
http://markets.usatoday.com/custom/...S&guid={F67A8C10-9A3E-420D-9340-EADF299C4666}
 
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Gas dropped a whole .02 overnight to $2.47 wooohooo!:rolleyes::suspicious:


Jumps .10 but drops .02...what's wrong with this picture?:suspicious:


GREED is what's wrong...Frickin GREED!!!!!
 
02/24/2010 - Updated 8:28 AM ET
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Crude futures drift lower as traders shrug off bullish API dataBenchmark gold contract down nearly 1%, back below $1,100
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By Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures drifted lower Wednesday as energy traders gave short shrift to bullish inventories data, while gold futures shed more than $10 an ounce.
Late Tuesday, the American Petroleum Institute reported a decrease of 3.1 million barrels in stockpiles of oil in the past week.
://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B8438E7D1%2DE06F%2D4254%2D9783%2D1D0E6F0EBECA%7D
 
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EIA Petroleum Status Report
Released on 2/24/2010 10:30:00 AM For wk2/19, 2010
Prior Actual Crude oil inventories (weekly change)3.1 M barrels 3.0 M barrels

Highlights
A rise in imports during the Feb. 19 week fed a 3.0-million-barrel build in oil stocks, a bearish headline offset by a 0.7-million-barrel draw at the Cushing delivery hub and by sizable product draws. Gasoline stocks fell 0.9 million barrels in the week for only the second draw this year. Distillates fell 0.6 million barrels. To meet the draws, refineries sharply boosted output of both gasoline and distillates. Imports of both gasoline and distillates also jumped.

http://www.bloomberg.com/markets/ecalendar/index.html
 
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02/24/2010 - Updated 2:21 PM ET
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Oil gains after EIA shows gasoline demand, Bernanke talk
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By Laura Mandaro, MarketWatch & Steve Gelsi, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures gained more than 1% Wednesday after the U.S. government said gasoline demand rose last week.
Oil for April delivery rose 92 cents, or 1.2%, to $79.78 a barrel. Ahead of a slew of midmorning data, oil had traded about 0.6% higher at $79.31.
http://markets.usatoday.com/custom/...S&guid={8438E7D1-E06F-4254-9783-1D0E6F0EBECA}
 
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There once was a wise Nnutt on this board that said oil over $80/bbl = price fixing... what say that Nnutt about oil at exactly $80/bbl?:D
 
02/25/2010 - Updated 8:54 AM ET
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Crude contract off more than 1%, hovers just shy of $79 mark
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By Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil prices fell below $79 a barrel early Thursday, pressured by jitters tied to Greece's debt, as energy traders also digested a mixed bag of U.S. economic data.
There was a stronger-than-expected reading for U.S. durable-goods orders for January, but first-time jobless claims rose last week, the sixth such increase in the first eight weeks of 2010.
http://markets.usatoday.com/custom/...S&guid={42282DB3-223E-402C-A94C-1D500E18C77C}
 
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02/26/2010 - Updated 7:30 AM ET
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Crude futures rise above $78 a barrel ahead of GDP data
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Crude futures edged higher on Friday, rebounding from their decline in the previous session, as traders awaited U.S. economic data, including fourth-quarter gross domestic product.
Crude oil for April delivery gained 23 cents to $78.40 a barrel in electronic trading on Globex. Earlier, the contract hit an intraday high of $78.67.
Oil prices are "back above $78 per barrel, following equities higher and on the back of a weaker dollar," said analysts at Action Economics.
U.S. stock futures pointed to a marginally higher opening on Wall Street. [more]
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B416B38FC%2D852A%2D40AB%2D913A%2D5E55F0E5B5A4%7D&loc=interstitialskip
 
I wonder why?:nuts:
US Misses Deadline for Offshore Drilling Study
by Siobhan Hughes

Dow Jones Newswires
Friday, February 26, 2010

WASHINGTON (Dow Jones), Feb. 26, 2010
The Obama administration failed to meet a deadline for submitting a court-ordered analysis of the environmental effects of offering new leases to drill in Alaskan coastal waters, the oil industry said Thursday.
http://www.rigzone.com/news/article.asp?a_id=88480&hmpn=1
 
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Buster said:
Completely unacceptable...Bet that will go down as:..Obama wanted the Drilling to happen, but..............wasn't his fault..:rolleyes:
Click to expand...
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GOP blocks Obama Interior nominee

Posted: Wednesday, May 13, 2009 11:22 AM by Mark Murray
Filed Under: White House, Congress, Republicans

From NBC's Ken Strickland

Senate Republicans have successfully stalled the confirmation of President Obama's nominee to the No. 2 post at the Interior Department, David Hayes. On a procedural vote that required 60 votes to advance the nomination, most Republicans united to opposes the nomination. The vote was 57-39.



But it clearly wasn't enough.


*** UPDATE *** Per NBC's Kelly O'Donnell, Salazar issued this statement in response to the block on Hayes: "This was a tired vote of bitter obstructionism. It may be uncomfortable for some to watch us have to clean up mess after mess -- from corruption to lawbreaking -- that is the previous administration's legacy at Interior, but to cast a vote against such a qualified and fine person is the height of cynicism."



Source: http://firstread.msnbc.msn.com/archive/2009/05/13/1930627.aspx

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What do you expect?

The President nominates fine people to lead the Interior Department, including the section that reviews oil leases.

But then the right blocks his nominations, and there is no leader to push through the review process.


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INTERIOR: McCain opposes nominees over Obama's position on Ariz. mine

(E&E Daily, 07/10/2009)
Noelle Straub, E&E reporter

Sen. John McCain (R-Ariz.) said he will oppose the confirmation of two Interior Department nominees until the Obama administration takes a position on his legislation that would make way for a copper mine in an Arizona national forest.


http://www.eenews.net/public/EEDaily/2009/07/10/2


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Either allow a corporation to take over a National Forest land, and put in a strip mining operation in McCain's state, or you don't get a vote on confirmation.


That, my friends, is what is happening.

That, my friends, is why the Oil Lease study isn't done on time. Because you don't have a head of the Bureau of Land Management, and you don't have an Assistant Secretary for Land and Minerals Management.

Both required to review any Oil Lease deals.

The party of NO's fault.
 
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