Oil Slick Stuff

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u.s.dan said:
Isn't it rather odd that the stock markets produced good gains today with oil being up nearly 2%?
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It's really what has been happening for a long time. When the Dollar is down Gas and Oil go up because the lower value of the dollar buys less product, when the dollar is down the Market usually goes up because the buying power of other worldwide currencies rise.Think EURO That's one reason the "I" fund does better when the dollar is down.
 
I think this applies to OHIO>
Refining industry restructuring even as gas prices surge

March 2, 2012, 2:18 PM
Even as gasoline prices are surging, a big restructuring is underway in some parts of the U.S. refining business.
East Coast refineries often use imported oil, which is priced at the much higher Brent Crude level (more than $125 a barrel nowadays.) And actual demand for fuel has been slowing in the face of a tepid economy, and the rising use of corn-based ethanol and soy-based diesel.
All of this adds up to tough economics for refineries on the East Coast. Sunoco Inc.-0.43% has announced it’s trying to sell its massive 335,000 barrel-a-day refinery in Philadelphia. It plans to permanently close its 178,000-barrel-a-day refinery in Marcus Hook, Penn., after failing to find a buyer.
Meanwhile, Sunoco doesn’t even plan to remain in the refining business, as it charts its future instead as a logistics and retailing business for fuel. Refining industry restructuring even as gas prices surge - The Tell - MarketWatch
 
March 2, 2012, 3:07 p.m. EST
Oil market walks Iran’s tightrope

Commentary: Looking for clues in Obama-Netanyahu talks

By MarketWatch
SAN FRANCISCO (MarketWatch) — Warheads command close attention, especially when they’re aimed at Iran’s nuclear facilities.
Whether bombs will actually fly is a topic of intense speculation in global markets. Some clues might be forthcoming this weekend, when U.S. President Barack Obama and visiting Israeli President Benjamin Netanyahu meet to discuss the controversial “military option” as part of the ongoing squeeze to get Iran to drop its nuclear ambitions.
Oil market walks Iran
 
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