Oil Slick Stuff

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01/25/2011 - Updated 9:47 AM ET
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Oil at eight-week low on supply concernsCrude appears headed for fourth losing session in a row
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures retreated to their lowest in nearly eight weeks on continued concerns of increased supply and a stronger dollar.
Crude for March delivery [CLH11] lost $1.07, or 1.2%, to $86.81 a barrel on the New York Mercantile Exchange. A close around these levels will be the lowest since Dec. 1 and amount to a fourth consecutive losing session. http://markets.usatoday.com/custom/...S&guid={1542240A-288E-11E0-A215-00212804637C}
 
01/25/2011 - Updated 12:51 PM ET
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Crude at eight-week low on supply concernsOn pace for four-day losing streak; selling resumes in natural gas
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures sharpened their decline Tuesday on energy traders’ twin concerns that supplies are increasing and the dollar is strengthening precipitated fresh selling.
Crude for March delivery [CLH11] fell $1.26, or 1.4%, to $86.61 a barrel on the New York Mercantile Exchange. With the contract heading for a fourth consecutive losing session, a close around these levels would be the lowest since Nov. 30. http://markets.usatoday.com/custom/...S&guid={1542240A-288E-11E0-A215-00212804637C}
 
01/25/2011 - Updated 3:51 PM ET
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Crude at eight-week low on supply concernsExtends losing streak to a fourth day; natural-gas slump resumes
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By Robert Daniel, MarketWatch & Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures settled at an eight-week low Tuesday after remarks by a key Saudi Arabian energy official stoked traders’ concerns that supplies would be increasing.
Crude for March delivery [CLH11] fell $1.68, or 1.9%, to $86.19 a barrel on the New York Mercantile Exchange. The close is the lowest since Nov. 30. http://markets.usatoday.com/custom/...S&guid={1542240A-288E-11E0-A215-00212804637C}
 
Thanks for the input Buster.:D
$2.90 today down 4 or 5 cents in Boiled Peanut GA.:)
 
01/26/2011 - Updated 9:54 AM ET
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Crude oil rises ahead of inventories, Fed
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By Nick Godt, MarketWatch

NEW YORK (MarketWatch) — Crude-oil futures rose on Wednesday, as traders awaited data on weekly petroleum inventories and the Federal Reserve’s statement on monetary policy later in the session.
Crude oil for March delivery [CLH11] rose 35 cents to $86.54 a barrel on the New York Mercantile Exchange.http://markets.usatoday.com/custom/...-11E0-A215-00212804637C}&loc=interstitialskip
 
Market Pulse
Jan. 26, 2011, 10:43 a.m. EST
Oil turns lower after surprise supply increase
By Claudia Assis

SAN FRANCISCO (MarketWatch) -- Crude-oil futures turned lower Wednesday after a larger-than-expected increase in inventories. Crude for March delivery /quotes/comstock/21n!f:cl\h11 (CLH11 86.62, +0.43, +0.50%) was off 16 cents, or 0.2%, to $86.03 a barrel on the New York Mercantile Exchange.
http://www.marketwatch.com/story/oil-turns-lower-after-surprise-supply-increase-2011-01-26
 
It's just part of the plan, when this happens look for $5 a gallon gas.:nuts: STUPIDITY!
Obama Plan to End Oil Tax Breaks Taps Controversy

By Steve Centanni
Published January 26, 2011
| FoxNews.com

Reuters

President Obama is earning both praise and criticism for suggesting in his State of the Union address that gas and oil companies are "doing just fine on their own" and don't need the tax Breaks they currently enjoy.
Oil industry experts suggest the president, by singling out oil companies, could be defeating two of his stated goals: creating jobs and boosting renewable energy research.
"The administration seems poised to stifle one of the best ways to create jobs," said Jack Gerard, president of the American Petroleum Institute, citing potential job in new petroleum exploration.
"We need policies that help the 9.2 million hardworking men and women in the industry, not hurt them," Gerard said.
http://www.foxnews.com/politics/2011/01/26/obama-plan-end-oil-tax-breaks-taps-controversy/
 
That's not what the article says....nothing about $5 gas in there. If the oil companies want to do R&D, they can take advantage of the R&D tax credit like everyone else.
 
01/27/2011 - Updated 10:14 AM ET
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Oil resumes decline on macroeconomic data
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Oil futures fell Thursday, their prospects hurt by a larger-than-expected increase in weekly jobless claims and an unexpected decline in U.S. durable-goods orders.
Crude for March delivery [CLH11] lost 38 cents, or 0.4%, to $86.99 a barrel on the New York Mercantile Exchange. http://markets.usatoday.com/custom/...S&guid={D55C8AA2-2A21-11E0-A215-00212804637C}
 
Silverbird said:
That's not what the article says....nothing about $5 gas in there. If the oil companies want to do R&D, they can take advantage of the R&D tax credit like everyone else.
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Hello SB, no that was me that took a guess at what MIGHT happen. To me it happen all of the time, usually if a companies price of doing busness rises they pass it on to the consumer. Right now the price is dropping and so is the Dollar, not the norm but the numbers don't lie.:)
 
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