Oil Slick Stuff

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$64.34 -1.55 at 13:05 Profit taking!!!:mad:
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=June&cmonth=M&year=7&currPrev=C
04/24/2007 - Updated 12:38 PM ET
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Crude futures retreat after two-session rise of 4%Traders take profits, but Nigerian output, refinery glitches still in view

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</IMG>By Myra P. Saefong, MarketWatch & Ciara Linnane, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures retreated Tuesday afternoon from their highest level in a week, as traders took in profits from a 4% climb in prices over the past two sessions.
Uncertainty ahead of Wednesday's data on U.S. petroleum supplies took center stage, but developments in Nigeria following the African nation's presidential election over the weekend as well as concerns about refinery production remained in focus.
http://markets.usatoday.com/custom/...S&guid={E37CE1AB-996D-41D4-A6FD-3F65029BB0E9}
 
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Scores die in Ethiopia oil attack :mad:

Rebel gunmen have killed Least 74 people in an at attack on an oil field in Ethiopia's remote Somali region, the Ethiopian government says.

Sixty-five Ethiopians and nine Chinese oil workers were killed, while seven Chinese were also taken captive in the incident, an official said.
Ethiopian Prime Minister Meles Zenawi called it a cold-blooded "massacre".
A spokesman for a separatist group, the Ogaden National Liberation Front, said it had launched the attack.
The clashes took place at an oil field in Abole, a small town about 120km (75 miles) from the regional capital, Jijiga.
'Atrocious attack'
http://news.bbc.co.uk/2/hi/africa/6588055.stm
 
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Shut Up T. Boone!!:mad: :mad: View attachment 1575

Pickens: $80 a barrel this year

Legendary oilman, investor predicts high price will begin to kill demand.

April 24 2007: 6:00 PM EDT

BEVERLY HILLS, Calif. (Reuters) -- Legendary oilman T. Boone Pickens said Tuesday that global demand will outstrip supply in the fourth quarter of this year, leading U.S. oil prices to rise to $80 or more a barrel.
Pickens would not predict how high beyond $80 oil would go this year or in 2008 but said he was interested to see how long $80 oil will need to be sustained to lessen demand.
http://money.cnn.com/2007/04/24/new...one.oil.reut/index.htm?postversion=2007042418
 
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Tuesday, April 24, 2007
Gasoline

Sally Limantour

Gasoline prices are on the rise with prices up another 2.46% today. Nigerian rebellions are increasing and threatens to destabilize the region’s sole source of oil. In addition we have more US refinery problems, threats to European gasoline supplies, talk of Belgium union oil workers going on strike in early May (Belgium accounts for 4% of Europe’s refining capacity) and the current stocks-to-consumption ratio at 21.0 days. This is more than 2.0 days below the seasonal average and below levels that typically follow summer’s peak demand season.

http://www.hamzeianalytics.net/
 
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It's really a crazy world!! Iran doesn't have refrinery capability to supply itself with gasoline!! Dummies!:laugh:
 
They might be preparing for a time of shortages, sacrifice, and crises (real or imaginary), irrespective of the well being of its citizens. This would require them to increase their national reserves, because they don't have refinery capacity to maintain constant supplies to move their armed forces???
 
$64.95 +.37 at 07:18 :(

Oil climbs before inventory report

Nears $65 a barrel; gas stocks expected to fall for the 11th straight week as summer approaches the U.S., the world's top energy consumer.

April 25 2007: 7:14 AM EDT

LONDON (Reuters) -- Oil rose toward $65 a barrel Wednesday before U.S. data that is expected to show an 11th consecutive drop in weekly gasoline stocks ahead of peak summer demand in the world's top consumer.
U.S. crude was up 41 cents at $64.99 in electronic trading. London Brent crude, for the moment seen as a more accurate reflection of world oil prices than U.S. crude, rose 37 cents to $67.53 after a 99-cent drop the day before.
http://money.cnn.com/2007/04/25/markets/oil.reut/index.htm?postversion=2007042507
 
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Oil inventories grew more than expected, we're in luck. I think they were probably low last time Oil was inventored, can count, 2074K.:( Gas inventories lower than expected, watch out gas prices!! No drop in price??

$65.03 +.45 at 10:03 still high!!:o
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=June&cmonth=M&year=7&currPrev=C

Oil gains as gasoline supplies drop

Refineries also show surprise drop in capacity; crude supplies rise.

April 25 2007: 10:43 AM EDT

NEW YORK (CNNMoney.com) -- Oil prices remained higher Wednesday after government said supplies of crude oil showed a surprise gain but gasoline stocks and refinery runs declined.
Exxon = oil, g*dammit! (more)http://money.cnn.com/2007/04/25/markets/oil_eia/index.htm?postversion=2007042510
 
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Crude oil falls as Iran-EU tensions seen easing

By Polya Lesova, MarketWatch
Last Update: 8:29 AM ET Apr 26, 2007

NEW YORK (MarketWatch) -- Crude-oil futures fell early Thursday, after Iran said it was approaching a "united view" with the European Union on resolving tensions around the Mideast country's nuclear program.
Crude for June delivery fell 49 cents to $65.35 a barrel in electronic trade.
Iran's chief nuclear envoy Ali Larijani said Thursday that Iran and the European Union were nearing a "united view" during their negotiations on the Iranian nuclear program, the BBC reported.
http://www.marketwatch.com/News/Story/Story.aspx?column=Futures+Movers
 
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Peak prices for gasoline usually peak around May and some are now predicting it will go as high as 4.00 a gallon! I guess its supply and demand. The demand is great, but the refineries can’t or won’t keep up with demand. I’ve heard that our fuel prices are a lot less than those in the UK. I wonder how much it would cost me in USD to buy 1 gallon of gas in London.

If a gallon goes to 4.00 a gallon in Los Angeles, I will start taking the metro train to LAX instead of driving. Oh yeah, Los Angeles, population of 10 million doesn’t have a metro train to one of the world’s largest airports…. Never Mind….
 
Yes, I do believe $7.00 with Europe and all over there.

Don't talk too loud though, it can happen in the US very easily. :)

Thanks nnuut
 
The wife just came back from Spain, Gas is high but always has been high. They use to blame it on the strong dollar (all oil is purchased in Dollars), but now the dollar is looking sick in comparison to the EURO, gas is still high!! Tariffs!:nuts:
 
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