Oil Slick Stuff

Sort by newest Sort by date
Go getem boys, it's about time:D

Venezuela's Citgo hit with price-fixing suit

Customers of foreign refiner allege in class-action suit that Citgo helped OPEC fix energy prices in the United States.

November 15 2006: 6:47 PM EST


NEW YORK (Reuters) -- Several companies that buy oil products from Citgo Petroleum filed a lawsuit this week alleging the Venezuelan-owned refiner helped OPEC fix energy prices in the United States.
The suit is another blow for the company, which has been hit by calls for boycotts after Venezuelan President Hugo Chávez called U.S. President Bush "the devil" while addressing the United Nations in September.
http://money.cnn.com/2006/11/15/new...lawsuit.reut/index.htm?postversion=2006111518
 
$58.84 a barrel at 10:52 EST.
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Dec&cmonth=Z&year=6&currPrev=C

11/16/2006 - Updated 11:06 AM ET
1.gif

Crude futures rise as data show fall in OPEC outputNatural-gas futures fall on first U.S. supply rise in three weeks
1.gif


Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures were slightly higher Thursday morning after data from a tanker-tracking firm quelled doubts that the Organization of the Petroleum Exporting Countries have been following through with promised production cuts.
Traders, however, continued to mull the latest U.S. supply data, released Wednesday, which showed sizable declines in petroleum-product supplies, but a third-weekly climb in crude inventories.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B46583274%2D71DD%2D40EC%2D8453%2D4509692E1984%7D
 
Last edited:
$56.30 now, no reaction from the markets????:mad:

11/16/2006 - Updated 2:22 PM ET
1.gif
Oil futures tumble to 17-month lowData show fall in OPEC output but natural gas supply up for 1st time in 3 weeks
1.gif
</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures tumbled Thursday to their lowest level in 17 months, pressured by a drop in natural-gas prices of more than 4% following the first climb in U.S. natural-gas supplies in three weeks.
The upcoming expiration of the front-month contract also likely added to volatility.
http://markets.usatoday.com/custom/...S&guid={46583274-71DD-40EC-8453-4509692E1984}
 
Last edited:
Feast or Famine!:o Looks to me that we may see more of this tomorrow? Getting Super Slick with all of this OIL! Commodities will suffer, isn't that right Robo?:confused: Buy, Buy!

Oil hits its low for the year

Crude plunges over $2 as traders say swelling inventories leave no place for storage.

By Steve Hargreaves, CNNMoney.com staff writer
November 16 2006: 3:42 PM EST


NEW YORK (CNNMoney.com) -- Oil prices sank over 4 percent Thursday, hitting a new low for 2006, as swelling inventories and the December contract's expiration on Friday forced traders out of the market.
On the New York Mercantile Exchange, December crude tumbled $2.50 to settle at $56.26 per barrel. Crude hit a low of $56.20 during trade, its lowest since November 2005.
http://money.cnn.com/2006/11/16/markets/oil/index.htm?postversion=2006111615
 
Last edited:
I can't or don't do the Crystal Ball thing, but awhile back I gave it my best guess!:D

nnuut said:
Bet YA!:D
Click to expand...

FundSurfer said:
Lower than $60 a barrel? No way, dude. We are beginning summer driving season. It'll be back above $70 before ya know it. Last winter was very mild which saved our butts. So unless hyper-global warming has set in, we're overdue a cold winter. Not to mention another active hurricane season. Don't forget Iran. They ain't saber rattling right now but they are stalling for time. Their leaders are the height of stupidity and it won't take long before they are threatening oil supply again. Nope, buy oil now while it's cheap.
Click to expand...

nnuut said:
I hear ya FS!!! I hear Ya! I didn't say it would happen today, or tomorrow or next week or next month or this year. Give it time.:D
Click to expand...
 
I'm still amazed it has dropped this much. I'm also amazed that the winter forecast keeps getting warmer which will further impact this amount. I wonder if Europe is going to have another one of those really fridgid winters...

Well nnuut will we get into the 40's?
 
FundSurfer said:
So unless hyper-global warming has set in, we're overdue a cold winter.
Click to expand...
Hyper-global warming? We need another Bush speech to tell us it just isn't so, not enough data to support that hypothesis...

That's my story and I'm sticking to it. I failed to predict the Hyper-Global warming...:D :D ;)
 
It happens every time FS, I still think we will end up in the middle $40s, Hee Hee!:D Wanna Bet?:o
 
FundSurfer said:
I'm still amazed it has dropped this much. I'm also amazed that the winter forecast keeps getting warmer which will further impact this amount. I wonder if Europe is going to have another one of those really fridgid winters...

Well nnuut will we get into the 40's?
Click to expand...

Never!
 
Just How Low can it GO?:confused:

Oil's price collapse, more or less

Are we heading back to $40 a barrel, and is talk of $100 crude now silly?

By Steve Hargreaves, CNNMoney.com staff writer
November 17 2006: 6:38 PM EST


NEW YORK (CNNMoney.com) -- Oil inventories are practically overflowing. No one believes OPEC. People are going jacketless in New York and it's nearly December.
It's no wonder crude prices tumbled five percent over the last two days, setting a new low for the year.
But does this mean we're headed back to the glory days of $20 a barrel oil, tossing predictions of $100 crude into the the same bin as Pets.com or Dow 36,000? Or is this a spot dip in prices caused by temporary conditions?
Most analysts think it's a temporary dip.
http://money.cnn.com/2006/11/17/markets/oil_price/index.htm?postversion=2006111718
 
Last edited:
And what about the Electricity Providers, they have been adding an energy adjustment of about $25 to $30 to my bill for the longest time now?:confused: Crooks!

Pain at the Pump Easing, So Why Am I Still Paying Surcharges?
Monday , November 13, 2006
By Maja Tarateta
foxnews_story.gif


While prices at the pump have been on a steady downturn since mid-August, experts say it may be a while before their evil counterparts — surcharges and fees placed on consumer goods — disappear.
As consumers felt the pinch of skyrocketing gas prices last summer, many also felt the squeeze in unexpected places: airline tickets, bottled water deliveries and goods transported by truck. A variety of businesses passed along their increased fuel prices to consumers in the form of an added cost.
http://www.foxnews.com/printer_friendly_story/0,3566,229086,00.html
 
Last edited:
Crooks!:mad:

Citgo shrugs off U.S. price-fixing suit

Venezuelan oil giant downplays charge it helped OPEC fix prices; Enron judge sets court date.

November 17 2006: 5:39 PM EST


NEW YORK (Reuters) -- Citgo Petroleum, a leading U.S. gasoline retailer, said on Friday that a lawsuit accusing it of helping oil producer group OPEC fix U.S. fuel prices is without merit.
Several companies that buy oil products from the Venezuelan-owned company filed a suit this week saying top Citgo executives helped develop strategies for OPEC, which occasionally cuts world production to boost prices.
http://money.cnn.com/2006/11/17/new...lawsuit.reut/index.htm?postversion=2006111717
 
Last edited:
You must log in or register to reply here.
Back
Top