Oil Slick Stuff

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Strong numbers are going to start showing some recovery.....This is going to drive manufacturing and the oil companies know this....They're paying top dollar on future growth...Hopefully it is a sign of good things to come....
 
Nov. 18, 2011, 12:01 a.m. EST
Heating oil, diesel and gasoline make a toxic mix

$100 crude, rising U.S. distillate exports heat up the energy market


By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) — Oil prices back above $100 a barrel, rising U.S. exports and falling stocks of distillates, and growing demand for both heating oil and diesel may prove to be a toxic mix for energy consumers this winter.
Crude is now back over $100, “so those input costs to refiners are going to roll down hill to consumers who are already strapped with high costs and debt,” said Kevin Kerr, co-editor of Global Resource Hunter, a trading newsletter at Weiss Research.
“Heating oil supplies have been ample so far, but the cold weather is just starting to set in, and a long, protracted winter could turn this into a very expensive season for consumers,” he said.
Prices for West Texas Intermediate (WTI) crude oil closed above $102 a barrel Thursday on the New York Mercantile Exchange as traders cheered news about a pipeline that’s expected to alleviate a supply glut at the oil’s delivery point. Read about Thursday’s action in oil.
The glut of oil at Cushing, Okla., has pressured WTI prices, prompting them to trade at a more than $25-a-barrel discount, at one point, to Brent crude, Europe’s benchmark, said Alan Herbst, a principal at Utilis Advisory Group, and by removing the bottleneck, the spread between WTI and Brent will likely continue to narrow.
But “stronger WTI prices will result in higher refined product costs,” he said.
http://www.marketwatch.com/story/he...-a-toxic-mix-2011-11-18?link=MW_story_popular
 
Gas down another 5 cents today to $3.02
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What scares me, is that this maybe the carrot before the storm..

I filled up all my gas cans today and bought two more 5 gallon cans and filled them too for my Generator..topped off all my cars.....Ready!:cool:


oh and YES..treated all the gas with STA-BIL
417h7CXqfrL._SL500_AA300_.jpg
 
Buster said:
What scares me, is that this maybe the carrot before the storm..

I filled up all my gas cans today and bought two more 5 gallon cans and filled them too for my Generator..topped off all my cars.....Ready!:cool:


oh and YES..treated all the gas with STA-BIL
417h7CXqfrL._SL500_AA300_.jpg
Click to expand...
I guess this may be the Bottom for Gas prices, unless?
 
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