Oil Slick Stuff

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[h=1]99 Cent Gas May Be on Its Way[/h] By Douglas A. McIntyre February 9, 2016 6:39 am EST
The International Energy Agency (IEA) February oil market report will put more downward pressure on crude prices just as the price of gasoline in some parts of the United States dips to above $1.10 a gallon. Prices are moving swiftly to below $1, a price last posted in the United States in December of 1993.
99 Cent Gas May Be on Its Way - 24/7 Wall St.
 
nnuut said:
[h=1]99 Cent Gas May Be on Its Way[/h] By Douglas A. McIntyre February 9, 2016 6:39 am EST
The International Energy Agency (IEA) February oil market report will put more downward pressure on crude prices just as the price of gasoline in some parts of the United States dips to above $1.10 a gallon. Prices are moving swiftly to below $1, a price last posted in the United States in December of 1993.
99 Cent Gas May Be on Its Way - 24/7 Wall St.
Click to expand...

Not with taxes jacked up like they have over the last decade or so... In low tax states maybe, but most of us will never see <$1 again.
 
Crawfordsville, Indiana has a station with $1.17 a Gal gas today.

Mebee a gas war going on there?? Happens around there you know.

Hoosier State Rockz!!:banana:
 
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[TD="class: econo-reportname, colspan: 2"]EIA Petroleum Status Report
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[TD="colspan: 2"] Economic Calendar - Bloomberg
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[TD]		PriorActual
Crude oil inventories (weekly change)
Gasoline (weekly change)
Distillates (weekly change)

[TD="class: econo-releaseinfo"] Released On 2/18/2016 11:00:00 AM For wk2/12, 2016 [/TD]

[TD="class: actual_consensus_box_numbers"]-0.8 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] 2.1 M barrels [/TD]

[TD="class: actual_consensus_box_numbers"]1.3 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] 3.0 M barrels [/TD]

[TD="class: actual_consensus_box_numbers"]1.3 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] 1.4 M barrels [/TD]
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[TD="colspan: 2"] Highlights
The petroleum glut continues to build. Oil inventories rose 2.1 million barrels in the February 12 week and further above 500 million barrels to 504.1 million. Product inventories are also increasingly heavy with gasoline up 3.0 million barrels and distillates up 1.4 million. WTI is falling sharply in immediate reaction to the run of builds, down about 75 cents to test $31 per barrel.
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[TD="class: econo-defaultpara, colspan: 2"] Definition
The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products. Why Investors Care [/TD]
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[TD] As is evident from the chart, crude oil stocks can fluctuate dramatically over the year. When oil prices nearly reached $50 per barrel in August 2004, financial market players began to monitor crude oil inventories. It is not surprising to see sharp price hikes in crude oil when inventories are falling. Conversely, one would expect price declines when inventories are rising.
Data Source: Haver Analytics[/TD]
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Markets Sense Oil Country Ratings Still Have Further To Fall

by Reuters
Marc Jones
Thursday, February 18, 2016
LONDON, Feb 18 (Reuters) - Financial markets are betting that Wednesday's mass downgrade of oil producing countries by Standard and Poor's won't be the last and that Saudi Arabia may fall to just above junk status after oil-producers failed to agree on cuts to boost prices.

S&P delivered a double-notch downgrade to Saudi Arabia, stripped Bahrain of its 'investment grade' status and cut Brazil, Kazakhstan and Oman as the tumble in oil prices triggered its second co-ordinated cull in a year.
Other rating agencies like Moody's and Fitch are expected to play catch-up over the coming months, but credit default swaps (CDS), which can be used insure against or to bet on debt problems, foresee further downgrades even by S&P.
A 'Market Derived Signal' model calculated by S&P's Capital IQ unit shows Saudi Arabia, Russia, Brazil, Kazakhstan and Colombia, which also saw its ratings' outlook cut this week, all being chopped again.
- See more at: NEWS  |  Markets Sense Oil Country Ratings Still Have Further To Fall  |  Rigzone
 
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