Oil Slick Stuff

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Oil -2.07, Gas -.0527

Looking Good, Maybe I should have not cancelled my move to the "S"?:o

05/29/2007 - Updated 1:07 PM ET
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Crude drops nearly 3%, trades near a two-week lowConcerns ease over Nigerian oil output; U.S. refineries eyed
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By Myra P. Saefong, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures fell almost 3% Tuesday, as easing concerns over oil production out of Nigeria and some successful restarts of U.S. refineries over the weekend pushed prices below $64 a barrel to their lowest level in nearly two weeks.
Nigeria's new President Umaru Yar'Adua has called for immediate end to hostilities in the country's Niger Delta region, and the main militant com/html-story.asp?markets=COMMODITIES&guid=%7BC536E887%2D971F%2D4E69%2D8BB6%2DC159430DC986%7D
 
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05/30/2007 - Updated 1:01 PM ET
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Natural-gas futures climb on demand, supply risksCrude futures regain some lost ground ahead of Thursday's U.S. supply data
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</IMG>By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) -- Natural-gas prices climbed Wednesday to trade closer to their highest level in a week, as the market got a fresh start with July as the front-month futures contract and traders looked toward summer-heating demand, two days before the official start of the Atlantic hurricane season.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B99F14959%2D54BC%2D4CE4%2D9200%2D2CBA9B2C1952%7D
 
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Exactly!! Now I'm 100% "I" Cob today and we could get +FV today, which means a possible -FV tomorrow. I never thought USM would rebound after this morning?
It's Not Over Until It's Over!!:cool:
 
Spaf said:
Greenspout???....Maybe it should be "Redspout"!!!........:D
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Here I'll hang a note for Nuutt...

12:30 pm : After climbing to nearly $64/bbl earlier following the first draw down in weekly crude supplies in six weeks, oil prices are now down 1.3% near $62.60/bbl. Crude's sharp downturn is offering some relief, especially in a Consumer Discretionary sector (+0.4%) that was negative an hour ago.

:D
 
Oil's wild ride

Price fluctuates by $1.60 in up and down trade, ends higher as traders focus on falling crude supplies, flat refinery operations.

By Steve Hargreaves, CNNMoney.com staff writer
May 31 2007: 6:28 PM EDT


NEW YORK (CNNMoney.com) -- Oil and gasoline prices swung widely Wednesday after the government said gasoline imports ran at the third-highest level ever, but crude supplies fell and refinery usage remained flat.
U.S. crude for July delivery settled up 52 cents at $64.01 a barrel on the New York Mercantile Exchange. But at one point during the session crude traded $1.56 lower.
Gasoline in-depth

Get ready for $4 gasoline
With prices at record high, demand and refining problems could push them much higher. Any relief in sight? (more)


The refinery crunch
When gasoline prices surge, a lack of refining capacity is often blamed. What's being done, and is it enough? (more)


6 ways to cut gas prices
From a big fat tax to more efficiency to boosting production, there are ways to do it - but which really stand a chance? (more)


Fuel economy wimps
Instead of ensuring that we use less gas, politicians and consumers take the easy way out, says Fortune's Alex Taylor. (more)




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CNN's Greg Hunter adds up his travel expenses to see if it's cheaper to drive or fly. (May 30)Play video




Oil prices turned higher following the report's release at 10:30 am ET on falling crude stocks and no increase in refinery activity but pulled back after traders shifted focus.
 
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Oil prices rise after U.S. supply drop
By PABLO GORONDI, Associated Press Writer 4 minutes ago


Crude oil prices held on to gains Friday after a U.S. government weekly fuel supply report showed an unexpected decline in crude oil stockpiles.

Light, sweet crude for July delivery added 5 cents to $64.06 a barrel in Asian electronic trading on the New York Mercantile Exchange, midday in Europe.
 
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Carnac, thanks for the help, I'm down here in Charleston SC, have a funeral to attend tomorrow, I should be back Sunday. Keep up the good work!!:D
Norman
 
nnuut said:
Carnac, thanks for the help, I'm down here in Charleston SC, have a funeral to attend tomorrow, I should be back Sunday. Keep up the good work!!:D
Norman
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Yeah...sure, I didn't get as many updates in as you normally do but I got a couple in.....you got the helm back when you get back.....me, I got some other things on issue myself and haven't the time to dedicate like you.....

Hope things are going well....

Carnac
 
Oil passes $65 on Iran, Nigeria

OPEC holds firm, won't raise production. Says problems are with refineries in U.S. [DUH!]

June 4 2007: 9:58 AM EDT


LONDON (Reuters) -- Oil resumed its climb above $65 on Monday, supported by output disruptions in Nigeria that have tightened supplies of light crude that is in heavy demand in the summer to make gasoline.
Traders said price gains accelerated after a defiant statement by Iran's Supreme Leader Ayatollah Ali Khamenei. He said Iran would not retreat from the "field of danger" to protect its right to develop nuclear technology. (more)
http://money.cnn.com/2007/06/04/markets/oil.reut/index.htm?postversion=2007060409
 
Myra Saefong's Commodities Corner

NY crude's out of whack, but is it undervalued?
Opportunity hidden in the wide spread between WTI and Brent crude

By Myra P. Saefong, MarketWatch
Last Update: 1:02 PM ET Jun 1, 2007

SAN FRANCISCO (MarketWatch) -- The crude market may be trying to tell us something, and here's the biggest hint: The price difference between crude traded on the New York Mercantile Exchange and the IntercontinentalExchange has touched its widest level ever.
Despite concerns over tight-gasoline supplies and production uncertainties related to the Middle East and Nigeria, crude futures on Nymex fell almost 5% during the month of May, with the July contract unable to climb past $68 a barrel.
But prices for July Brent crude climbed as high as $71.80 that month.
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http://www.marketwatch.com/news/sto...x?guid={6A40FC33-6CB3-4E0C-BBF9-C941D9B7D9BB}
 
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06/04/2007 - Updated 11:09 AM ET
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Crude rises on concerns over Russia, BP refineryNatural gas rallies nearly 3% with hurricane season underway
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By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures rallied Monday, recouping early-session losses, boosted by concerns over escalating tensions between Russia and the west, as well as ongoing problems at a BP refinery.
Natural-gas futures rallied nearly 3% on worries that more tropical storms are on the way.
Crude for July delivery rose 52 cents to $65.60 a barrel on the New York Mercantile Exchange. Early Monday, the contract had fallen about 20 cents.

http://markets.usatoday.com/custom/...S&guid={EF7D9581-A4C0-4959-89FC-8A3E92257967}
 
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Oil below $66 as storm fears ease

Traders do not expect a cyclone will disrupt production in the Middle East, as they await a U.S. inventory report.

June 5 2007: 6:41 AM EDT


SINGAPORE (Reuters) -- Oil prices steadied Tuesday as concerns over gasoline supply in the United States kept oil under $66 a barrel, even as fears eased that a cyclone in the Middle East would disrupt production.
U.S. light crude fell 31 cents to $65.90 a barrel in electronic trading. London Brent crude rose 11 cents to $70.51, after climbing $1.33 Monday http://money.cnn.com/2007/06/05/markets/oil.reut/index.htm?postversion=2007060506
 
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06/05/2007 - Updated 12:45 PM ET

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Oil futures ease back after recent rally
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By Myra P. Saefong, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures fell Tuesday, as some traders considered the recent rally on weather-related production concerns in the Persian Gulf and tension between Russia and the West to be a bit overdone for now.
Crude for July delivery was last down 1.4%, or 91 cents, at $65.30 a barrel on the New York Mercantile Exchange.
http://markets.usatoday.com/custom/...S&guid={5C52A9F8-1D45-4C17-AD33-350843B97F76}
 
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Why no one's making more gas

Refineries are making money like never before, so why aren't more people getting in on the action?

By Steve Hargreaves, CNNMoney.com staff writer
June 5 2007: 2:05 PM EDT


NEW YORK (CNNMoney.com) -- Motorists must get tired of hearing how refinery problems are causing high gasoline prices.
In a free-market economy, if there really was such a shortage (most experts say there is), and refining profits are so high (any oil company earnings report will attest they are), then why aren't people building more refineries? (more)
http://money.cnn.com/2007/06/05/news/economy/refining_investments/index.htm?cnn=yes
 
Refineries being down is so much b*******. I've talked to people who work in refineries and the work is phased and WHOLE refineries don't go down. These oil companies are just getting a pass to pillage.
Next to a rumor of war refinery maintenance has got to be the best way to add to an oil companies bottom line.
Nationalize them I say.
 
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