Oil Slick Stuff

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$54.32 a barrel at 06:57 +.31

Saudis said to plan production cut:(

Report: No. 1 oil producer to shave 158,000 barrels per day from output beginning this week, with more reductions coming.

January 30 2007: 5:47 AM EST


SAN FRANCISCO (Dow Jones) -- Saudi Arabia, which already has aggressively shaved its oil output in a battle to shore up prices, will reduce production by another 158,000 barrels per day beginning Thursday and more cuts are on the way, according to a media report.
The Saudi cut is seen as an aggressive move to keep the price of the U.S. benchmark crude above $55 a barrel, The Wall Street Journal reported Tuesday in its online edition, quoting Roger Diwan, an analyst at PFC Energy, a Washington industry consultancy.


http://money.cnn.com/2007/01/30/news/international/update_saudis.dj/index.htm?postversion=2007013005
 
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$56.55 at 08:23 -.42
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Mar&cmonth=H&year=7&currPrev=C
01/31/2007 - Updated 8:10 AM ET
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Crude dips as traders await supply dataCold snap is expected to yield first decline in distillates in seven weeks
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</IMG>By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures eased lower early Wednesday, a day after rallying almost $3 a barrel, with traders looking to weekly data on supplies due later this morning to determine whether the recent cold snap is having an impact on high inventories.
"2D85FB%2D570F6442A57E%7D
 
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$56.34 a barrel trending down -.63 http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Mar&cmonth=H&year=7&currPrev=C

Oil slips as supplies grow

Despite cold weather, distillates inventories come in nearly as expected while gasoline and crude stocks swell.

January 31 2007: 10:41 AM EST


NEW YORK (CNNMoney.com) -- Oil prices fell further Wednesday after the government said supplies of crude oil and gasoline rose more than expected.
U.S. light crude for March delivery fell 74 cents to $56.23 a barrel on the New York Mercantile Exchange. Oil had traded down 60 cents just prior to the report's release.
http://money.cnn.com/2007/01/31/markets/oil_eia/index.htm?postversion=2007013110
 
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$58.27 +.13 at 07:07

Oil up slightly after two-day gain

Heating fuel demand rises in U.S. during cold snap; OPEC's latest production cut takes effect.

February 1 2007: 7:21 AM EST


LONDON (Reuters) -- Oil held close to $58 as a cold snap in top consumer the United States increased demand for heating fuel and the latest OPEC production cuts took effect.
U.S. oil had jumped $1.17 the previous session, taking gains for the week to over 4 percent. After an initial retreat Thursday, the market resumed its advance, with U.S. crude up 21 cents at $58.35 a barrel in electronic trading and London Brent up 12 cents at $57.52.
Prices have rebounded from a 20-month low of $49.90 on Jan. 18 as cold weather - albeit late in the northern winter season - helped to draw down U.S. distillate fuel stocks for the first time in nearly two months.
"http://money.cnn.com/2007/02/01/markets/bc.markets.oil.reut/index.htm?postversion=2007020107
 
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Yeah, their not makin' any money!:mad:

Settle at $57.30 a barrel

AP
Exxon Mobil Posts Record Annual Profit
Thursday February 1, 2:12 pm ET
By John Porretto, AP Business Writer Exxon Mobil Posts U.S. Record Annual Profit Despite Decline in 4Q Results
HOUSTON (AP) -- Oil giant Exxon Mobil Corp. on Thursday posted the largest annual profit by a U.S. company -- $39.5 billion -- even as earnings for the last quarter of 2006 declined 4 percent. The 2006 profit topped the previous record, also by Exxon Mobil, of $36.13 billion set in 2005. The record earnings amounted to roughly $4.5 million an hour for the world's largest publicly traded oil company, which produces about 3 percent of the world's oil.
http://biz.yahoo.com/ap/070201/earns_exxon_mobil.html?.v=20
 
$57.19 a barrel at 18:31 -.11
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Mar&cmonth=H&year=7&currPrev=C

02/01/2007 - Updated 3:29 PM ET
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Natural-gas futures fall from a seven-week highSupplies down less than expected; crude ends lower after failing to reach $59
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</IMG>By Myra P. Saefong, MarketWatch & Ciara Linnane, MarketWatch
SAN FRANCISCO (MarketWatch) -- Natural-gas futures closed lower Thursday, retreating from a seven-week high as traders showed disappointment over the size of last week's decline in U.S. supplies, but still remained upbeat about the potential that winter weather will further cut into the nation's surplus inventories.
2D8557%2D776945273C7A%7D
 
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Nnut, have you been trading oil or anything in the sector etf, OIH? Trying to position myself for a good entry point.
 
fedgolfer said:
Nnut, have you been trading oil or anything in the sector etf, OIH? Trying to position myself for a good entry point.
Click to expand...

Excuse me for butting in! Sector ETFs are some of the hardest to play. [XOI] Oil seasonality percentage play generally starts in Mid December through Mid June. RE: Stock Traders Almanac 2007. They also have updates and revisions, plus entry and exit points to Almanac Investor newsletter suscribers.
Not playing sectors I don't take their subscription service, but some of us do buy their annual Almanac. It's also fun to read.
 
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