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Crude Ends Below $98 As Rally Fades
by Dow Jones Newswire

Friday, November 18, 2011

Crude oil futures prices dropped Friday, tipping under $98 a barrel in further retreat from the triple digit levels hit earlier this week.
After topping $100 Wednesday following the sale of a key U.S. pipeline, traders have pulled back due to concerns about ripple effects from Europe's debt crisis and worries that crude rallied too high, too fast.
While the sale and planned reversal of the Seaway Pipeline should ameliorate a U.S. supply glut beginning sometime next year, in the short term the effect on the physical crude markets will be minimal. For that reason, the spike in oil futures appeared to be an overreaction for many market participants, who opted to lock in returns.
"It's reached levels where you should be taking profits," said Brian LaRose, an energy analyst at brokerage United-ICAP. "There is the risk here in the short term for a substantial correction."
https://www.rigzone.com/news/article.asp?a_id=112778&hmpn=1
 
Nov. 21, 2011, 10:22 a.m. EST
Oil futures fall more than 1% on debt woes

By Myra P. Saefong and Virginia Harrison, MarketWatch
SAN FRANCISCO (MarketWatch) — Crude oil futures fell Monday, as a fresh warning from Moody’s Investors Service about France’s credit rating and an expected announcement from the U.S. supercommittee that it has failed to reach a deficit-reduction agreement dulled prospects for future oil demand.
http://www.marketwatch.com/story/oi...n-trading-2011-11-20?link=MW_home_latest_news
 
[h=1]Oil Drops After Gasoline Stockpiles Rise, Growth Trails Estimate in U.S.[/h]
By Ben
Oil dropped from a three-day high inNew York after rising gasoline stockpiles and slower-than-estimated economic growth raised concern that demand will fall in the U.S., the world's biggest consumer of crude.
Futures slipped as much as 1 percent after the American Petroleum Institute said motor-fuel supplies climbed 5.42 million barrels last week. The U.S. economy grew at a 2 percent rate last quarter, less than economists projected and down from an earlier estimate of 2.5 percent, the Commerce Department said yesterday. A recession has probably already started in Europe,Alan Gayle, a senior strategist at RidgeWorth Capital Management in Richmond, Virginia, said in a Bloomberg Television interview
http://www.bloomberg.com/news/2011-...er-at-97-79-a-barrel-in-new-york-trading.html
 
Just got back from SHOPPING with the Wife, can you feel the pain?:sick:


Nov. 25, 2011, 10:42 a.m. EST
Oil futures turn higher, push past $96 a barrel

Front-month contract extends slide from $101 last week

By Claudia Assis and Steve Gelsi, MarketWatch
SAN FRANCISCO (MarketWatch) — Crude-oil futures turned higher Friday, tracking U.S. equities, as post-Thanksgiving shopping revved some hopes U.S. consumers would carry the day that traditionally kicks off the start of the holiday buying season.
http://www.marketwatch.com/story/crude-oil-futures-weaken-to-95-a-barrel-2011-11-25

 
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