Oil Slick Stuff

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03/09/2011 - Updated 11:55 AM ET
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Oil edges lower after inventories report
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By Claudia Assis, MarketWatch & Sarah Turner, MarketWatch

SAN FRANCISCO (MarketWatch) — Oil futures wavered between small gains and losses Wednesday, receiving some support from ongoing unrest in the Middle East but hampered by a report showing a larger-than-expected increase in weekly oil inventories.
Light, sweet crude for April delivery [CLJ11] declined 21 cents to $104.79 on the New York Mercantile Exchange. It had traded in the black for most of floor trading.http://markets.usatoday.com/custom/...S&guid={EEE884E0-4A00-11E0-AB73-00212804637C}
 
NO HELP HERE<>where is the leadership?:nuts:

Permitting Delays Keep Lid off Offshore Service Co Optimism
Rigzone Staff
|
Wednesday, March 09, 2011


The de facto moratorium in the U.S. Gulf of Mexico following the Macondo oil spill has delayed permits for all Gulf oil and gas activity, not just for deepwater drilling, and while some projects are moving forward, offshore service company officials say they anticipate seeing a gap of more than a year before work begins to pick up in the Gulf.
http://www.rigzone.com/news/article.asp?hpf=1&a_id=104971
 
Futures Movers
March 10, 2011, 8:05 a.m. EST
Oil prices fall as traders eye Libya conflict
April crude futures trade below $103 a barrel

By Sarah Turner and Polya Lesova, MarketWatch
LONDON (MarketWatch) — Crude futures dropped below $103 a barrel Thursday, as traders continued to monitor the fighting in Libya between rebels and forces loyal to Col. Moammar Gadhafi.
Crude oil for April delivery /quotes/comstock/21n!f:cl\j11 (CLJ11 102.64, -1.74, -1.67%) fell $1.74 to $102.64 a barrel in electronic trading on the New York Mercantile Exchange.
The contract earlier hit an intraday low of $102.36 a barrel. http://www.marketwatch.com/story/oi...ya-battles-rage-on-2011-03-10?dist=beforebell
 
hey nutt,

since your an oil guy, i would like your input on tomorow "day of rage" event are you expecting oil to rise to 108?
 
[FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=+2]Peaceful Saudi Streets Won’t Curb Oil Prices[/SIZE][/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif]By: Rick Ackerman, Rick's Picks[/FONT]
[FONT=Arial, Verdana, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif][FONT=Verdana, Arial, Helvetica, sans-serif] GoldSeek.com[/FONT][/FONT]


Rick’s Picks


Thursday, March 10, 2011


“Phenomenally accurate forecasts”​


[FONT=Verdana, Arial, Helvetica, sans-serif]Don’t expect all hell to break loose in Saudi Arabia when demonstrators hit the streets today in a planned show of strength. Protests are likely to be subdued, according to a Rick’s Picks subscriber who lives there. “You need to take what the news and Internet are saying with a grain of salt,” he wrote. “I am currently living in Saudi and have been talking to the locals the past few weeks. Everybody I have talked to does not believe anything will happen this weekend, nor do they want change. I am not saying nothing is going to happen, but that is the ground report.
http://news.goldseek.com/RickAckerman/1299740460.php
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03/10/2011 - Updated 10:30 AM ET
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Oil drops; China data spurs demand concernFall in U.S. stocks, oil supply rise and stronger dollar add pressure
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By Myra P. Saefong, MarketWatch & Sarah Turner, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures tapped a low under $102 a barrel Thursday, poised to extend their losing streak to a third-straight session, as a steep drop in U.S. stocks and a surprise February trade deficit in China spurred concerns over a slowdown in energy demand.
Traders also continued to monitor the fighting in Libya between rebels and forces loyal to Col. Moammar Gadhafi.
Crude oil for April delivery [CLJ11] fell $3.19 to $101.15 a barrel on the New York Mercantile Exchange after touching a low of $101.14.
http://markets.usatoday.com/custom/...-11E0-AB73-00212804637C}&loc=interstitialskip
 
03/10/2011 - Updated 11:50 AM ET
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Oil drops; China data spur demand concernFall in U.S. stocks, rise in oil supply, stronger dollar add pressure
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By Claudia Assis, MarketWatch & Myra P. Saefong, MarketWatch

Crude oil for April delivery [CLJ11] fell $3.10, or 3%, to $101.28 a barrel on the New York Mercantile Exchange after touching a low of $100.62 a barrel.
http://markets.usatoday.com/custom/...S&guid={AFDD150A-4AC2-11E0-AB73-00212804637C}
 
So..let me get this straight---

The world is in turmoil, and the price of oil goes up. So the stock market drops.


and then the world is in turmoil, and the price of oil goes DOWN, and the stock market drops.



Am I getting that right?
 
Just remember this, it switches around when the price of Oil adds to the threat of inflation somewhere a little over $100 a barrel. Prior to that level higher Oil stimulates the Market along with a weaker dollar. The weaker dollar drives the price of Oil higher, it's a double edged sword. I know this is an over simplification, but it's complicated.:confused:;)
 
Tomorrow is a big day for Saudi Arabia "Day of Rage" HA! We will see.:eek:

Jon Markman's Speculations
March 10, 2011, 4:23 p.m. EST
Brace for $200 oil if unrest hits Saudi Arabia

Commentary: Riyadh pulls the strings on global markets’ next act

By Jon Markman, MarketWatch
SEATTLE (MarketWatch) — Strong markets are supposed to rise along a wall of worry. This one was rising very nicely amid plenty of worries until investors caught a whiff of the idea that Saudi Arabia could fall victim to the unrest enveloping the Middle East.
So now stocks are slipping and crawling. It’s all about the optics. If you can see a problem, then you can ignore it. But if you aren’t sure what you see, paralysis ensues. http://www.marketwatch.com/story/brace-for-200-oil-if-unrest-hits-saudi-arabia-2011-03-10
 
03/11/2011 - Updated 4:06 AM ET
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Oil extends losses; Saudi Arabia in focus Day of protests planned in oil-rich Saudi Arabia
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By Polya Lesova, MarketWatch

LONDON (MarketWatch) — Crude futures dropped early Friday, extending recent losses, as traders braced for a day of protests in oil-rich Saudi Arabia and kept an eye on the conflict in Libya.
Investors also digested news of a powerful earthquake which shook northeastern Japan on Friday and triggered a tsunami alert.
Crude oil for April delivery [CLJ11] fell 63 cents to $102.07 a barrel in electronic trading on Globex
http://markets.usatoday.com/custom/...S&guid={96C62D58-4BB8-11E0-AB73-00212804637C}
 
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