Oil Slick Stuff

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The news sounds positive out of Iran - but I would rather maintain a certain degree of mistrust - they could be using a ploy to stall for more time. Therefore all energy stocks will remain snug.
 
Keep it down please! I can't hear the Oil dropping!
$68.95 a barrel
Oil below $69 as worries over Iran ease
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</IMG>By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures fell Monday after conciliatory weekend comments from Iran's leader raised hopes for a breakthrough in its nuclear standoff with the West, overshadowing for now at least, renewed nuclear rumblings from North Korea.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7B9A6B4DAD%2DF639%2D4F13%2DADE4%2DD46529BC3A0D%7D
 
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nnuut, the bummer of it all is that although the barrel prices appear to be dropping and pump prices appear to be letting up, the ongoing damage fuel prices have done to the economy and inflation has been done; it began first quarter 2005.

Like the fed raising interest rates taking month's to show the effect on the economy and controlling inflation, so goes the price of fuel on the economy and inflation. These lower oil prices will need to stay around for quite awhile, before an affect is achieved in the "economic inflation" arena. JMHO.
 
Make up my mind!
$69.70 a barrel
AP
Oil Prices Rise As Bush Presses Iran
Tuesday June 20, 7:26 am ET
By George Jahn, Associated Press Writer

Oil Prices Rise As Bush Presses Iran on Nuclear Suspension

VIENNA, Austria (AP) -- Crude-oil futures rose Tuesday over Iran concerns after President Bush warned that nations worldwide will not back down from their demand that Tehran suspend uranium enrichment.
http://biz.yahoo.com/ap/060620/oil_prices.html?.v=4
 
We need to use less, findmore or find another way! DUH! Don't look good for less than $60.00 a barrel, but I think we may make it anyway! BAH!:nuts:

Oil consumption seen soaring
Much of world's growth will take place in Asia, although U.S. will still use the most; OPEC needed to meet bulk of demand, EIA says.
June 20, 2006: 9:34 AM EDT

WASHINGTON (Reuters) - World oil demand should soar from this year's almost 86 million barrels per day to 118 million bpd by 2030, even though higher fuel prices will cut back some petroleum usage, the U.S. government's top energy forecasting agency predicted Tuesday.
Much of the growth in global oil consumption over the next quarter century will come from the non-industrialized nations in Asia, where the strong economies of China and India will gobble up more barrels, according to the Energy Information Administration, the statistical arm of the Department of Energy.
http://money.cnn.com/2006/06/20/markets/oil_intl_outlook.reut/index.htm?cnn=yes
 
Our Buddies in Saudi Arabia are not helping a bit!!:mad:
$70.05 a barrel:nuts:

06/20/2006 - Updated 11:01 AM ET
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Crude gains on news of China-Saudi dealChina seeks oil reserve; Energy Dept. sees strong energy demand to 2030
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</IMG>By Myra P. Saefong, MarketWatch & Ciara Linnane, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures rose Tuesday morning, after China confirmed that it's working with Saudi Arabia on developing a strategic oil reserve and bolstering ties between the world's most populous country and its biggest oil producer.
A U.S. government report forecasting strong world energy demand through 2030 added support.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7BFCA29307%2D5798%2D4362%2DA069%2D9385C372461F%7D
 
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What now? Nigeria is acting up again! Good timing.:nuts:

INTERNATIONAL Political unrest plagues oil market again
June 21, 2006

Singapore - Oil prices rose in Asian trade on Wednesday on news of fresh kidnappings of oil workers in Nigeria and ahead of key US inventory data, dealers said.

At 11.10am Singapore time, New York's main contract, light sweet crude for delivery in August, was at $69.50 per barrel, up 16 cents from $69.34 in late United States trades. The July contract closed Tuesday at $68.94.http://www.busrep.co.za/index.php?fSectionId=630&fArticleId=3302729
 
Who else can get in the act?:mad:
$69.70 a barrel

06/21/2006 - Updated 11:46 AM ET
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Oil climbs closer to $70 on Iran, gasoline strength
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Strength in gasoline futures and tension between Western nations and Iran and North Korea outweighed an eight-year high in U.S. crude inventories, lifting crude futures closer to $70 a barrel Wednesday.
Crude for August delivery fell to a low of $68.80 a barrel on the New York Mercantile Exchange, then recovered to trade as high as $69.85. The contract last traded at $69.70, up 36 cents.
A U.S. government report issued Wednesday pegged supplies at their highest level since late May of 1998 -- a time when futures prices traded at just over $16 and spot prices were above $15.
 
What?
$70.05
06/21/2006 - Updated 1:30 PM ET
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Oil reclaims $70, with gas futures upU.S. supply at 8-year high; gasoline stocks actually lower
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures reclaimed the $70 a barrel level and gasoline futures climbed as much as 3% Wednesday, as a smaller than expected rise in U.S. gasoline supplies and tension between Western nations and Iran and North Korea outweighed an eight-year high in U.S. crude inventories.
http://markets.usatoday.com/custom/...s&guid={137A8E4E-0AE6-4B6A-A76A-A3283CB4F960}
 
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Oil just refuses to cooperate!
$71.20 a barrel
06/22/2006 - Updated 7:59 AM ET
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Oil futures extend gains, head past $71 a barrel
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</IMG>By Steve Goldstein, MarketWatch & Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures extended their prior-session gains on Thursday, taking their cue from data showing a smaller-than-expected build in gasoline supplies in the latest week.
August-dated crude-oil futures rose as high as $71.20 a barrel in electronic trading, and were last up 50 cents at $70.83. Gasoline was up 1.7 cents at $2.0825 a gallon.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7B6F0B31B8%2DCB68%2D4238%2DB4BF%2D90CC8CE82690%7D
 
Crude Oil Prices Rise on Gas Stocks Data
Refineries are trying to boost gasoline output in preparation for the U.S. July Fourth holiday, when demand rises as Americans travel. But analysts have noted that plant capacity has been reduced due to the damage from last year's hurricanes to Gulf of Mexico coast refineries.

The mood in the energy markets has seesawed in recent weeks as traders try to gauge from the verbal sparring between Iran and the West the possibility of Iran -- the world's fourth-largest oil producer and exporter -- halting exports.
http://biz.yahoo.com/ap/060622/oil_prices.html?.v=9
 
Here it is; SOS.:o
$70.59 a barrel
06/23/2006 - Updated 7:58 AM ET
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Crude eases as traders eye Iran, await Fed
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</IMG>By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures edged lower early Friday, but remained on track for a gain on the week, as traders continued to weigh a smaller-than-expected build in U.S. gasoline supplies in the latest week and developments in Iran, and next week's Federal Reserve decision on interest rates.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7B3614C2C4%2DFFF8%2D45F3%2D99FB%2D4D7309A1845F%7D
 
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Just break out of this stupid range, -- down please!
$71.15 a barrel
06/23/2006 - Updated 1:43 PM ET
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Energy traders eye waterway closure, IranCrude set for weekly gain; natural-gas futures fall again
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures, firmly on track for a weekly gain, climbed above $71 a barrel Friday as traders weighed a handful of factors: the closure of a key Louisiana waterway, the status of U.S. gasoline supplies at the start of the summer season, developments in Iran and next week's Federal Reserve decision on interest rates.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7B3614C2C4%2DFFF8%2D45F3%2D99FB%2D4D7309A1845F%7D
 
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One analyst on Bloomberg radio said oil prices are headed down next year.

In the Latin American section of its news section word is drilling is taking place off shore near Rio de Janero in Brazil.

It will be a matter of time before drilling also takes place off shore here in areas that seemed exempt from such things now as well as in the past.

Everything on this earth has a price; nothing is exempt for long.
 
Don't be surprised to see crude oil push $85 sometime over the summer and fall. It will be only temporary - but the energy stocks and industry supplies are on fire. It sure helps to own a few of them - may be forced to look the gift horse in the mouth this summer and purchase some restraunt stocks.
 
HHUUMMMMMmmmmmmm, Promising? :o

Iran upbeat on nuke incentive plan

Saturday, June 24, 2006; Posted: 11:52 a.m. EDT (15:52 GMT)
BERLIN, Germany (CNN) -- Iran's foreign minister has said there are "very positive points" in the incentives plan concerning Iran's nuclear program, but added that other points are unclear and "we have questions about them."
http://www.cnn.com/2006/WORLD/meast/06/24/iran.germany/index.html
 
Now I guess someone will blow up a pipe line?
$70.73 a barrel.
Oil inches lower on signs of higher Iraqi output
June 26 2006: 7:08 AM EDT


SINGAPORE (Reuters) -- Oil edged down Monday after signs of improved Iraqi production, but held near $71 a barrel as demand from the United States and China is still growing despite near-record prices while traders worry over supply disruptions.
U.S. crude traded down 14 cents at $70.73 a barrel, after a rise of 3 cents on Friday that took gains for last week to 1.4 percent. London Brent crude slipped 12 cents to $69.81.
http://money.cnn.com/2006/06/26/markets/oil.reut/index.htm
 
OH, stop it!!
$70.95 a barrel
06/26/2006 - Updated 11:52 AM ET
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Oil climbs past $71 as traders eye global output
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</IMG>By Ciara Linnane, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures climbed past $71 a barrel Monday, as traders weighed disruptions to output in Louisiana and threats from Iran to use oil as a weapon against strong production in Iraq and the lack of storms in the Atlantic.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7B2A41D603%2D1A59%2D44DB%2D8A9B%2D3E7862CA5C9F%7D
 
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An excuse for the market to drop this morning!
$72.43 a barrel
06/27/2006 - Updated 8:03 AM ET
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Crude trades at two-week high
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</IMG>By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures climbed to a two-week high early Tuesday, reflecting continued concerns about fallout from the closure of a key waterway in Louisiana.
Crude for August delivery was last trading up 63 cents at $72.43 a barrel, having earlier touched a high of $72.49, its loftiest level since June 12.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=Commodities&guid=%7B875329F5%2DF698%2D49EF%2DB324%2DB87C77063756%7D
 
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