Oil Slick Stuff

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Too Little, Too LATE!:nuts:

Feds clear way for some deepwater drilling

Bureau of Ocean Managements lauds moves as a ‘significant step’

By Steve Gelsi, MarketWatch
NEW YORK (MarketWatch) — The government is taking fresh steps to allow some deepwater drilling in U.S. waters of the Gulf of Mexico to resume during the first half of this year as pressure builds to restore jobs in the region.
Late Monday, the Bureau of Ocean Energy Management notified 13 companies of steps they need to take before previously approved operations can be restarted. http://www.marketwatch.com/story/feds-clear-way-for-some-deepwater-drilling-2011-01-04
 
Crude down to $88.78 a Barrel -$2.77 @13:22:D Oil down, Market Down, Dollar Up!
 
Gas popped up from $2.79 to $2.88 overnight:mad:

WTF?..this after oil took a $2.00 dip yesterday
 
01/05/2011 - Updated 9:41 AM ET
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Crude at three-week low as selloff continues
Investors await official word on the inventories front
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures pared losses Wednesday after an upbeat private-sector jobs report but continued to trade under $89 a barrel, extending the previous session’s selloff.
Crude for February delivery [CLG11] lost 68 cents, or 0.8%, to $88.70 a barrel on the New York Mercantile Exchange. A close around these levels would be the lowest in nearly three weeks.
Oil prices are suffering from “pure exhaustion,” analysts at JPMorgan wrote in a note to clients Wednesday. “The market was expecting to see a surge in New Year buying-activity push prices higher. It did not emerge. Producers have been aggressive sellers and longs have taken profits — we are seeing a selloff as a result,” they said.
http://markets.usatoday.com/custom/...S&guid={02039274-18D6-11E0-80E4-00212804637C}
 
01/05/2011 - Updated 11:42 AM ET
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Crude at three-week low as selloff continuesLarger-than-expected drop in inventories fails to boost prices
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By Claudia Assis, MarketWatch

The Energy Information Administration early Wednesday reported a decline of 4.2 million barrels in the nation’s crude-oil inventories for the week ended Dec. 31.
Analysts surveyed by Dow Jones Newswires had expected inventories to drop 2.2 million barrels for the week.
Gasoline inventories increased by 3.3 million barrels, contrasting with expectations for a 600,000-barrel rise.
Stocks of distillates, which include heating oil and diesel, rose 1.1 million barrels. Analysts polled by Dow Jones had estimated a rise of 500,000 barrels.
Click to expand...
http://markets.usatoday.com/custom/...S&guid={02039274-18D6-11E0-80E4-00212804637C}
 
UP DOWN UP DOWN!!:confused:

01/06/2011 - Updated 9:42 AM ET
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Crude-oil futures remain lower after jobless report
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures were lower Thursday, resuming trading under $90 a barrel and keeping losses their after the Labor Department reported a rise in jobless claims.
Crude oil for February delivery [CLG11] declined 92 cents, or 1%, to $89.36 a barrel on the New York Mercantile Exchange.
Natural-gas futures for February delivery [NGG11] added 7 cents, or 1.5%, to $4.54 per million British thermal units.
The number of U.S. workers filing for jobless claims rose last week by 18,000 to 409,000, although that keeps the level of claims still lower from six months ago. http://markets.usatoday.com/custom/...S&guid={07A8D418-199F-11E0-80E4-00212804637C}
 
jkenjohnson said:
So why is the price of a gallon of gas going up, up, up? A perceived shortage? BS.:mad:
Click to expand...
Mostly BS, but emerging markets like China are using much more Oil and Gas, Global Warming this winter is causing more demand:laugh:, the falling dollar is driving prices up, Obama is strangling our National Oil production.:o
 
Market Update

10:30 am : Selling pressure against commodities has the CRB Commodity Index down 0.3%, but natural gas prices have pushed higher in recent trade.

Oil is one of the weakest performing commodities this morning. The energy component is currently priced at $89.15 per barrel, down 1.3% today.
http://finance.yahoo.com/marketupdate/overview?u
 
Pump Prices Likely to Stay Above $3

by Ben Lefebvre
Friday, January 7, 2011


provided by

U.S. retail gasoline may linger above $3 a gallon through 2011, but prices will be fueled by a global appetite for diesel.

The recession cut consumption, and stricter fuel-emission standards and increased use of biofuels has helped build ample supply. Instead, refiners trying to meet global demand for fuels such as diesel will bid up the price of crude oil. This, in turn, will keep the heat on gasoline prices.
http://finance.yahoo.com/banking-bu...b-budgeting&sec=topStories&pos=4&asset=&ccode=
 
01/07/2011 - Updated 9:33 AM ET
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Crude futures tick higher after U.S. jobs report
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By Nick Godt, MarketWatch

NEW YORK (MarketWatch) — Crude-oil futures traded a little higher Friday, stabilizing as energy traders played off Labor Department data showing that the U.S. economy added 103,000 jobs in December and that the unemployment rate fell to 9.4%.
Crude for February delivery [CLG11] rose 13 cents, or 0.2%, to $88.51 a barrel.http://markets.usatoday.com/custom/...S&guid={2FFE98D2-1A65-11E0-80E4-00212804637C}
 
Futures Movers
Jan. 9, 2011, 8:21 p.m. EST
Crude futures soar on news of Alaska pipeline closure

By Lisa Twaronite, MarketWatch
TOKYO (MarketWatch) — Crude-oil futures soared Monday after news the Trans-Alaska Pipeline network was shut down due to a leak.
Benchmark New York Mercantile Exchange futures for February light, sweet crude traded /quotes/comstock/21n!f:cl\g11 (CLG11 89.32, +1.29, +1.47%) at $89.42 a barrel, up $1.39 in Globex electronic trading Monday morning in East Asia.
The Trans-Alaska Pipeline remained shut Sunday local time, reducing output by 95%, after a leak was discovered at a pumping station. Read more on Alaska pipeline shutdown.
Reports late Sunday said authorities had yet to indicate when the pipeline would reopen.
http://www.marketwatch.com/story/crude-soars-on-news-of-alaska-pipeline-closure-2011-01-09
 
WOAHA!!! About 3 inches of SNOW and ICE in GEORGIA this morning, it's a WHITE MONDAY!!!:rolleyes:
I'm NOT going anyware until it melts!:laugh:
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01/10/2011 - Updated 9:30 AM ET
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Crude jumps after closure of Alaska pipeline Shares of leading equity owner BP off more than 2% in London
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By Polya Lesova, MarketWatch & Lisa Twaronite, MarketWatch

NEW YORK (MarketWatch) — Crude-oil futures jumped 1.8% on Monday, gaining as news of the shutdown of the Trans-Alaska Pipeline over the weekend raised concerns about whether it would cause a short-term disruption in U.S. oil supplies.
Crude for February delivery [CLG11] advanced $1.57, or 1.8%, to $89.61 a barrel in Globex electronic trading. The contract pared some of its earlier gains, having surged to an intraday high of $89.98 a barrel. http://markets.usatoday.com/custom/...S&guid={2956CB18-1C53-11E0-83AC-00212804637C}
 
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