Oil Slick Stuff

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$56.92 a barrel at 07:05
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Feb&cmonth=G&year=7&currPrev=C
Oil nears $57 on Russia supply halt, Saudi cut

Dispute between the Russian Federation and Belarus on export duties; top exporter announces curbed supply for February.

January 8 2007: 5:57 AM EST


LONDON (Reuters) -- Oil prices climbed toward $57 on Monday as Russian crude supplies halted through a pipeline that meets a fifth of demand from Europe's largest economy Germany and top exporter Saudi Arabia detailed February supply cuts.
U.S. crude was up 46 cents at $56.77 in electronic trading, after falling by nearly 8 percent last week. It rose as high as $57.05 before pulling back.
http://money.cnn.com/2007/01/08/markets/bc.markets.oil.reut/index.htm?postversion=2007010805
 
#57.48 a barrel at 09:30 +1.17:mad:
AP
Oil Prices Rise on Reports of OPEC Talks
Monday January 8, 8:54 am ET
By George Jahn, Associated Press Writer

Oil Prices Rise on Reports That OPEC Oil Ministers Have Started Talks on Another Potential Cut

VIENNA, Austria (AP) -- Oil prices rose Monday, supported by reports that OPEC oil ministers have begun talks on another potential cut and worries about energy shortages in parts of Europe as the fallout of a dispute between Russia and Belarus.
The rebound -- which came after last week's plunge amid a warmer-than-normal winter in the U.S. Northeast, a key region for heating oil demand -- strengthened amid reports that Belarus had ordered a halt to deliveries of Russian oil that goes via its territory to Germany, Poland and Ukraine. The head of the Russian state pipeline operator Transneft, Semyon Vainshtok accused Belarus of siphoning off Russian oil destined for Europe since
http://biz.yahoo.com/ap/070108/oil_prices.html?.v=11
 
$55.89 a barrel at 13:08 -.42 Still dropping:)
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Feb&cmonth=G&year=7&currPrev=C

01/08/2007 - Updated 12:00 PM ET
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Crude futures fall back under $56 a barrelMarket digest OPEC-member talk, escalating Russia/Belarus natural-gas row
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</IMG>By Myra P. Saefong, MarketWatch & Ciara Linnane, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures fell under $56 a barrel Monday, reversing course with weather still warmer-than-usual in the Northeast and an early estimate for this week's U.S. supply reports calling for the first climb in crude inventories in seven weeks as well as an across-the-board rise in petroleum products.
CONTINUED____>>>>>>http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B9F5368D8%2D4C17%2D4628%2D8F56%2D8AF586F48E87%7D
 
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$54.18 a barrel at 08:46 -1.91:D :D Do I hear $53? Going Going!:)

Oil slide could fuel stocks

Major gauges poised to open higher Tuesday as crude prices sink and more merger news encourages investors.

By Jessica Dickler, CNNMoney.com staff writer
January 9 2007: 8:22 AM EST


NEW YORK (CNNMoney.com) -- Stocks were poised for early gains Tuesday as much lower oil prices and even more merger-and-acquisition news could boost positive momentum.
At 8:15 a.m. ET, Nasdaq and S&P futures were higher, indicating a positive start for stocks
http://money.cnn.com/2007/01/09/markets/stockswatch2/index.htm?postversion=2007010908
 
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With oil prices dropping the way they have been lately, this may not bode well for the I fund since some of the holdings are big oil such as BP, Total and Royal Dutch.
 
Oldcoin said:
With oil prices dropping the way they have been lately, this may not bode well for the I fund since some of the holdings are big oil such as BP, Total and Royal Dutch.
Click to expand...
Exactly, and having a cooling effect on the US markets today. With the inventories data coming out tomorrow I took a chance it would turn around if inventories are up and stimulate the US markets. 50% "C" 50% "S" but it could keep dampening the action????:o
$54.54 a barrel at 09:50 -1.55 trending to the upside!
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Feb&cmonth=G&year=7&currPrev=C
 
$54.69 at 11:14 -1.40 Trending up!

They think thay are buying low!

Speculators keep oil prices afloat

Investors still think oil is a hot commodity, which may explain why crude hasn't fallen far despite brimming supplies, warm weather and a cooling economy.

By Steve Hargreaves, CNNMoney.com staff writer
January 9 2007: 10:35 AM EST


NEW YORK (CNNMoney.com) -- Temperatures and inventories are high, while economic growth and global tensions, relatively speaking, are low. But although oil prices have fallen in the last few days, they still remain historically high at over $50 a barrel. Why haven't crude prices fallen further?
http://money.cnn.com/2007/01/09/markets/oil_prices/index.htm?postversion=2007010910
 
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$55.56 at 12:35 -.53 Still trending up:mad: up to $55.63 -.46 at 14:27 --- settle at 55.64
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Feb&cmonth=G&year=7&currPrev=C

FUTURES MOVERS
Pressure back on crude over weather, supplies
Oil prices now down more than 10% since the beginning of the year.
SAN FRANCISCO (MarketWatch) -- Crude-oil futures tumbled below $55 a barrel Tuesday morning, pressured by continued above-normal temperatures in the northeastern U.S. and expectations that this week's supply data will show the first increase in crude inventories in seven weeks.
http://www.marketwatch.com/News/Story/Story.aspx?column=Futures+Movers
 
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$54.78 a barrel at 07:27 -.86 today
The oil companies have been making a killing for a long time at our expense! It's about time they cut profits and let it ride. LOSS? They are still making bags of money!:notrust:
 
$54.82 at 10:08 -.82
Expect a market reaction when this one is announced!:confused:
01/10/2007 - Updated 10:13 AM ET
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Crude falls under $55 ahead of weekly supply data
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</IMG>By Myra P. Saefong, MarketWatch & Ciara Linnane, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures fell early Wednesday as traders braced for weekly supply data due shortly from the Energy Department that are expected to show the first increase in crude inventories in seven weeks.
(MORE)
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B405DCBE7%2DA4F9%2D4688%2D9B96%2D754FC6AB2714%7D
 
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The EIA reported inventories of crude oil dropped by 5 million barrels to 314.7 million barrels in the week ending Jan. 5 -- the fourth straight week of decline. Analysts had expected a modest rise of 820,000 barrels. But U.S. crude oil inventories remain above the upper end of the average range for this time of year, the EIA said.
 
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