Oil Slick Stuff

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Just an FYI- due to price of corn going over $8 a bushel, many ethanol plants have ceased making ethanol in the last three weeks, and are shutting down. So far, 26 ethanol plants have shut down in the last three weeks, and ethanol production is now cut by about 15%.

Environmental Finance | News | Investors chilled by prospect of US biofuels waiver

Gasoline prices at the pump may tick upward as a result. Gasoline makers are not adding ethanol to gasoline in many areas at the moment due to the price increase on ethanol. So gasoline is priced higher.

(more: http://www.desmoinesregister.com/ar.../LIFE04/Drought-drags-down-U-S-ethanol-plants )
 
Aug. 17, 2012, 4:25 a.m. EDT
Oil falls on possible U.S. reserves release
By Michael Kitchen, MarketWatch

LOS ANGELES (MarketWatch) — U.S. benchmark crude-oil futures fell in electronic trade Friday as the dollar changed direction and as a report said Washington could release some of its oil reserves to ease prices.
The September crude-oil contract fell 0.4%, or 37 cents, to $95.23, giving back gains from Thursday’s session on the New York Mercantile Exchange.
On Thursday, the benchmark Nymex contract had rallied 1.4% to a three-month high on dollar weakness and concerns of a possible Israeli airstrike on Iranian nuclear facilities.
Oil falls on possible U.S. reserves release - Futures Movers - MarketWatch
 
I hate it when this happens.:nuts:

Daily Fuel Gauge Report--national, state and local average prices for gasoline, diesel and E-85.
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OPPS!:sick:

Crude Oil - Electronic (NYMEX) Sep 2012, CLU2 Future Quote - (NMN) CLU2, Crude Oil - Electronic (NYMEX) Sep 2012 Future Price
oil.jpg
 
[TABLE="class: tablewrapper"]
[TR]
[TD="class: econo-reportname, colspan: 2"]EIA Petroleum Status Report
[/TD]
[/TR]
[TR]
[TD="colspan: 2"]

[TABLE="class: actual_consensus_box"]
[TR="class: actual_consensus_toprow"]
[TD]		Prior
Actual
Crude oil inventories (weekly change)
Gasoline (weekly change)
Distillates (weekly change)

[TD="class: econo-releaseinfo"]Released On 8/22/2012 10:30:00 AM For wk8/17, 2012
[/TD]

[TD="class: actual_consensus_box_numbers"]-3.7 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"] -5.4 M barrels
[/TD]

[TD="class: actual_consensus_box_numbers"]-2.4 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"] -1.0 M barrels
[/TD]

[TD="class: actual_consensus_box_numbers"]0.7 M barrels
[/TD]
[TD="class: actual_consensus_box_numbers"] 1.0 M barrels
[/TD]
[/TD]
[/TR]
[/TABLE]
Economic Calendar - Bloomberg
[/TD]
[/TR]
[/TABLE]
 
Aug. 22, 2012, 12:10 p.m. EDT Oil move is under way
By Kirk Spano
"Cycles of shortage and surplus characterize the entire history of oil."

-- Daniel Yergin
Right now a potential shortage of oil exists in the eyes of many investors. As a result, the price of oil is moving up aggressively off of its recent bottom.
We in the WTI October future's contract that a breakout appears likely as shorter weekly averages cross longer on the way up
Some of the popular reasons given for this breakout are:

  • A potential attack of Iran by Israel
  • The Nigerian oil workers strike
  • Potential Chinese stimulation
  • Potential American stimulation
  • Oil companies (generally American) deliberately slowing production
Click to expand...
Oil move is under way - MarketWatch
 
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