Oil Slick Stuff

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02/14/2011 - Updated 11:02 AM ET
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Oil rises on concerns about Middle EastGasoline trades at its highest since September 2008
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures edged higher Monday, dipping in and out of positive territory as investors looked past the recent turmoil in Egypt and weighed the political fallout, if any, for the rest of the Arab world.
Traders also turned their attention closer to home, searching for signs of what to expect from vacation-minded drivers this summer at a time when the U.S. economy appears to be on the mend.
Crude for March delivery [CLH11] added 33 cents, or 0.4%, to $85.91 a barrel. It had earlier drifted to negative territory.
http://markets.usatoday.com/custom/...S&guid={506A73AE-3840-11E0-9DE4-00212804637C}
 
02/14/2011 - Updated 5:29 PM ET
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Oil ends at lowest since NovemberGasoline comes off highs but settles 2.1% higher
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures settled at their lowest in nearly 12 weeks Monday as investors looked past the recent turmoil in Egypt and weighed the political fallout, if any, for the rest of the Arab world.
Traders also turned their attention closer to home, searching for signs of what to expect from vacation-minded drivers this summer at a time when the U.S. economy appears to be on the mend.
Gasoline futures rallied, as did oil trading in Europe, on China’s crude import data.
Crude for March delivery [CLH11] declined 77 cents, or 0.9%, to $84.81 a barrel on the New York Mercantile Exchange. It had traded modestly higher for most of the morning. That was oil’s lowest settlement since late November.http://markets.usatoday.com/custom/...-11E0-9DE4-00212804637C}&loc=interstitialskip
 
02/15/2011 - Updated 12:46 PM ET
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Crude futures decline, tracking equities
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures turned lower Tuesday, tracking stocks after spending most of the session playing off an uptick in industrial activity reported in the New York area as well as an increase in U.S. retail sales for January.
Crude for March delivery [CLH11] most recently declined 51 cents, or 0.6%, to $84.33 a barrel on the New York Mercantile Exchange. Oil had traded as high as $84.98 a barrel earlier.
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http://markets.usatoday.com/custom/...S&guid={AABC83F6-3908-11E0-9DE4-00212804637C}
 
02/15/2011 - Updated 3:51 PM ET
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Crude futures decline on disappointing data
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By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures settled at an 11-week low Tuesday after a round of U.S. economic data largely disappointed investors and turmoil in the Middle East failed to ignite the market.
Crude for March delivery [CLH11] declined 49 cents, or 0.6%, to $84.32 a barrel on the New York Mercantile Exchange. http://markets.usatoday.com/custom/...S&guid={AABC83F6-3908-11E0-9DE4-00212804637C}
 
Feb. 16, 2011, 9:17 a.m. EST
Crude moves higher on Mideast tensions

By Virginia Harrison, MarketWatch
NEW YORK (MarketWatch) — Crude-oil futures moved off 11-week lows in electronic trading Wednesday, amid signs of ongoing tensions in the Middle East and ahead of key U.S. inventories data.

Benchmark Nymex light-sweet crude for March delivery /quotes/comstock/21n!f:cl\h11 (CLH11 84.85, +0.53, +0.63%) rose 28 cents to $84.60 a barrel.
 
Oil Rises First Day in Four on Signs U.S. Stockpiles Are Falling



Ann Koh, On Wednesday February 16, 2011, 3:04 am EST

Oil gained for the first time in four days in New York as signs stockpiles are shrinking in the U.S. stoked speculation demand is recovering in the world’s biggest crude consumer.
Futures advanced as much as 0.7 percent after the industry- funded American Petroleum Institute yesterday said inventories slid 354,000 barrels in the seven days ended Feb. 11. Energy Department data today may show stockpiles increased 2 million barrels. U.S. industrial production probably gained in January while European consumer confidence has improved, according to Bloomberg News surveys. Prices also rose amid reports civil unrest in the Middle East had spread to Libya.
http://finance.yahoo.com/news/Oil-R...45.html?x=0&sec=topStories&pos=4&asset=&ccode=
 
DRILL DRILL DRILL!!!:D

US Senator Will Halt Obama Nominee Over Deep-Water Drilling Permits
by Ryan Tracy
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Dow Jones Newswires
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Wednesday, February 16, 2011


WASHINGTON (Dow Jones Newswires), Feb. 16, 2011
A U.S. Senator said Tuesday he would block President Barack Obama's nominee to head the U.S. Fish and Wildlife Service until the administration issues at least 15 permits for deep-water drilling exploration.
"Louisianans are desperate to get back to work," Sen. David Vitter, (R., La.) said in a press release. "I love fish and wildlife, but my top economic priority is to stop the economic devastation caused to humans by the moratorium."
The administration has lifted a moratorium on deep-water drilling permits but has not issued one since the Deepwater Horizon incident last April, igniting criticism that a de-facto moratorium is hurting local economies that rely on the drilling industry.
The hold on Obama's choice for the post, Daniel M. Ashe, will prevent the nomination from moving forward for confirmation by the U.S. Senate. The Fish and Wildlife Service is part of the Interior Department, which handles permits for oil drilling.
http://www.rigzone.com/news/article.asp?a_id=104208&hmpn=1
 
Market Update


12:00 pm : Oil prices made a modest push higher after the release of the latest weekly oil inventory report, but then started to pullback until a recent flurry of buying drove prices to session highs. Oil currently trades with a 1.8% gain at $85.85 per barrel.
http://finance.yahoo.com/marketupdate/overview?u
 
Feb. 17, 2011, 12:42 a.m. EST
Oil futures edge higher in electronic trading

By Sarah Turner, MarketWatch

SYDNEY (MarketWatch) — Nymex benchmark light sweet crude-oil futures inched higher in electronic trading during Asian hours Thursday, extending gains made this week as tensions continued to simmer in the Middle East.
The front-month contract /quotes/comstock/21n!f:cl\h11 (CLH11 84.81, -0.18, -0.21%) rose 10 cents to $85.09 in Asian trading on Thursday, extending a 67-cent gain made Wednesday amid reports that Iran was sending warships to Syria via the Suez canal. The reports were later denied by Egyptian canal authorities.
http://www.marketwatch.com/story/oil-futures-edge-higher-in-electronic-trading-2011-02-17
 
Seems like the Administration is trying to sell high instead of transferring the oil to another storage facility? What will they do with the money, who is authorized to buy the oil? How will the price be set? Will it stay in the USA? :confused:
 
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