Oil Slick Stuff

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$58.56 a barrel at 12:31 -2.49
01/03/2007 - Updated 12:37 PM ET
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Crude contract hits lowest in nearly 18 monthsWarm weather cited; Iran vows to press ahead with nuclear program
By Myra P. Saefong, MarketWatch

SAN FRANCISCO (MarketWatch) -- The benchmark contract for crude-oil futures dropped to its lowest level in nearly 18 months Wednesday, pressured by further forecasts for unseasonably mild U.S. weather as well as expectations for higher petroleum-product supplies.
"Oil continues to be under pressure due to all of the warm weather in much of the country," said Kevin Kerr, a veteran trader and editor of Global Resources Trader, a newsletter of MarketWatch, the publisher of this report.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BE8CCE515%2D88CE%2D4395%2DB30A%2D66FA692D3655%7D
 
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Down she goes! probably!!:D
MARKET UPDATE

1:00 pm : Stocks are retracing morning highs as oil prices hit fresh session lows. Crude for February delivery is now down more than 4.0% near $58.50/bbl. Aside from recent weather forecasts calling for mild temperatures possibly curbing the demand for heating oil there are already concerns among traders that tomorrow's weekly inventories report, which has been delayed by a day due to the New Year's holiday, will also show that the market remains well supplied. Oil prices are heading for their biggest one-day decline since Nov. 16., when the December contract plunged 4.3% to $56.26/bbl amid growing doubts that OPEC would live up to output cuts.
http://finance.yahoo.com/marketupdate/overview
 
$56.60 a barrel at 10:22 EST Do you hear that noise?:worried: http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Feb&cmonth=G&year=7&currPrev=C
01/04/2007 - Updated 10:28 AM ET
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Crude continues lower as weather, supply weigh
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures remained under pressure Thursday morning, weighed down by warmer-than-average temperatures across the Eastern U.S. and expectations of higher petroleum product supplies when weekly data is released shortly.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BE27A4A3B%2D534D%2D4A5B%2DABFD%2DD101DBD30C38%7D
 
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atcsat64 said:
I try buy gas only from companies that import the least amount of Persian Gulf oil, and never from Citgo. Anyone who looks at this link remember that Motiva is part of Shell.
Click to expand...
are they filling up any sizable percent from Venezuala? Sometime ago I asked at Murphy's (Wal-mart) if they were owned by Venezuela, but I didn't think to ask specifically if they got any gas from them.
 
$57.32 a barrel at 11:03 -1.00

Oil tumbles for a second day

Crude sinks 2 percent after sliding 4 percent Wednesday on warm weather, ho-hum inventory report.

January 4 2007: 10:49 AM EST


NEW YORK (CNNMoney.com) -- Oil continued its selloff Thursday, losing over 2 percent as a government inventory report offered few surprises and the Northeast U.S. continued to bask in warm weather despite what should be the coldest time of the year.
U.S. light crude for February delivery fell $1.40 to 56.92 a barrel on the New York Mercantile Exchange. Oil had traded down about $1.65 just prior to the report's release and lost over 4 percent Wednesday.
http://money.cnn.com/2007/01/04/markets/oil_eia/index.htm?postversion=2007010410
 
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#56.49 a barrel at 13:16 -1.83:D

Oil: A short slide

Experts say declining crude supplies and OPEC production cuts should leave prices bottoming out in the mid $50s.

By Steve Hargreaves, CNNMoney.com staff writer
January 4 2007: 1:35 PM EST


NEW YORK (CNNMoney.com) -- After a two-day slide in oil prices totaling more than 6 percent, analysts see bottom. Two factors could keep oil from falling into the mid-$50s: OPEC production cuts and declining crude supplies.
"I think we're close to the end of the slide," said Phil Flynn, a senior market analyst at Alaron Trading in Chicago.
The recent decline to less than $57 is in part the result of higher-than-normal temperatures that have sapped demand for heating oil in the htm?postversion=2007010413
 
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Settle at $55.59 a barrel. OPEC must be about to lay an egg!:D
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Feb&cmonth=G&year=7&currPrev=C

AP
Oil Prices Slide More Than $2 a Barrel
Thursday January 4, 4:21 pm ET
By Lauren Villagran, AP Business Writer Oil Prices Slide More Than $2 a Barrel As Gas, Fuel Inventories Rise More Than Expected
NEW YORK (AP) -- Oil prices shed more than $2 Thursday to settle at their lowest level since June 2005, after the U.S. government reported higher-than-expected inventories of gasoline, heating oil and diesel fuel amid warm winter temperatures.
An unseasonably mild winter in the Northeast and Midwest has led to a buildup in inventories and, as a result, weaker prices.

http://biz.yahoo.com/ap/070104/oil_prices.html?.v=21
 
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$55.40 a barrel at 11:49 -.19:D
Market Update
While oil prices building on the largest two-day decline (-8.9%) in two years might typically be bullish for stocks, the subsequent absence of leadership from the profit engine that is Energy serves as another reminder that earnings growth is likely to decelerate. Aside from expectations for warm weather across the Northeast still underpinning concerns about less demand for heating oil, crude for February delivery near $55/bbl is also the result of strength in the dollar.
http://finance.yahoo.com/marketupdate/overview
 
Settle at $56.31 1-05-07
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Oil: A short slide

Experts say declining crude supplies and OPEC production cuts should leave prices bottoming out in the mid $50s.

By Steve Hargreaves, CNNMoney.com staff writer
January 5 2007: 3:08 PM EST


NEW YORK (CNNMoney.com) -- After a two-day slide in oil prices totaling almost 9 percent, crude moved above the $56 level Friday, confirming predictions made earlier in the day that the selloff was nearly over - at least for now.
Two factors could keep oil from falling lower than the mid-$50s: OPEC production cuts and declining crude supplies.
(continued)
http://money.cnn.com/2007/01/05/markets/oil_lookahead/index.htm?postversion=2007010515
 
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Gas prices around Central Georgia

Macon Regular Mid Premium Diesel
Current $2.197 $2.361 $2.466 $2.482
Yesterday $2.191 $2.355 $2.460 $2.490
Month Ago $2.205 $2.371 $2.476 $2.514
Year Ago $2.222 $2.389 $2.495 $2.409

Regular UL is down from a year ago, diesel is up. Inflation!:mad:
Check your area?
http://www.fuelgaugereport.com/GAmetro.asp
 
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