Oil Slick Stuff

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Don't be confused by the drop in oil prices. It is intentional as SA is pumping out oil to hurt Iran. Moreover, some reports indicate that SA would give the Israeli AF air space over its nation from which to strike. Massive NAval movements from the US are headed to the persian gulf as as minesweepers from the UK. Weeks away from Isreal commencing a campaign of sort it seems.
 
There is more than one way to wage a war!!
Crude inventories up .7 mil barrels. Gas inventories up 4 milliom barrels.:confused:
 
$55.83 at 10:36 +.46
THIS IS NOT FUNNY ANYMORE!!!:nuts:
AP
Oil Prices Seesaw Near $55 a Barrel
Thursday January 25, 10:55 am ET

Oil Prices Seesaw Near $55 a Barrel Amid Signs That OPEC May Act on Pledge to Cut Output

LONDON (AP) -- Crude futures seesawed near US$55 a barrel Thursday as the market dithered about signs that OPEC members may be acting on their pledges to cut output. Light, sweet crude for March delivery was down 17 cents to US$55.20 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Europe. Prices ranged from US$55.80 to US$54.95 during the session.
Brent crude rose 6 cents to US$55.55 a barrel on the ICE Futures exchange in London.

http://biz.yahoo.com/ap/070125/oil_prices.html?.v=9
 
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Settle at $54.01 at 15:00 Dropping down!!! from $55.42 at Friday's Close:D
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Mar&cmonth=H&year=7&currPrev=C

01/29/2007 - Updated 12:57 PM ET
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Oil loses more ground as natural gas turns lowerOil hits resistance at $56, says analyst; natural gas falls on expiration day
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures' decline steepened Monday afternoon, with traders unwilling to lift prices much past $55 a barrel as they awaited further production cuts from major oil producers and an update on U.S. petroleum supplies due later this week.
Growing violence in the Middle East, as well as forecasts for continued below-normal temperatures in parts of the U.S. appeared to limit oil's decline, but the weather forecasts failed to provide support for natural gas, with the benchmark contract set to expire at the session's close.
Crude-oil prices have "stiff overheard resistance" at $56, and that's "a natural place for short sellers to enter the marketplace," said Gary Dorsch, editor of the Global Money Trends newsletter.
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What the heck?:mad:

Big Shell Iran deal could bring U.S. sanctions

Officials say they will likely review Shell's deal with Spain's Repsol to develop Iran's biggest natural gas field.

January 29 2007: 5:41 PM EST


WASHINGTON (Reuters) -- A preliminary multibillion-dollar deal to develop a giant Iranian natural gas field signed by Royal Dutch Shell would likely trigger a review by U.S. officials to see if it requires sanctions, a State Department official said on Monday.
Shell on Monday said it signed a deal with Iran in conjunction with Spain's Repsol to develop South Pars, the OPEC member's biggest natural gas field, despite growing U.S. pressure not to invest in Iran.
http://money.cnn.com/2007/01/29/news/international/shell.reut/index.htm?postversion=2007012917
 
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