Oil Slick Stuff

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Oil steadies near $71 a barrel

Prices could turn higher if inventory report shows dwindling crude stocks as refiners return from maintenance in the U.S.

July 3 2007: 7:54 AM EDT


LONDON (Reuters) -- Oil held near $71 a barrel Tuesday but analysts predicted increasing crude demand from U.S. refiners and technical factors would soon push prices higher.
A weak dollar, which fell to a 26-year low versus the pound, has also boosted some commodities, notably copper and gold.
http://money.cnn.com/2007/07/03/markets/bc.markets.oil.reut/index.htm?postversion=2007070307
 
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Oil eases ahead of inventories:o

Analysts expect recent rally to resume due to strong gasoline demand.

July 4 2007: 8:41 AM EDT

LONDON (Reuters) -- Oil edged down Wednesday from a 10-month high, though analysts expected the rally to resume due to low U.S. fuel inventories and expectations of strong gasoline demand.
U.S. crude shed 21 cents to $71.20 a barrel. Brent, which has rallied from around $50 a barrel in January, lost 26 cents to $72.67 a barrel after hitting $73.10 on Tuesday, the highest since Aug. 25.

http://money.cnn.com/2007/07/04/markets/bc.markets.oil.reut/index.htm?postversion=2007070408
 
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Oil edges up ahead of inventories:(

Analysts expect recent rally to resume due to strong gasoline demand.

July 4 2007: 12:17 PM EDT


LONDON (Reuters) -- Oil edged higher Wednesday, supported by low U.S. fuel inventories and expectations of strong gasoline demand in the world's top consumer.
U.S. crude edged up 4 cents to $71.45. London Brent crude, now seen by some analysts as a better indicator of global prices, was up 15 cents at $73.03 a barrel.
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Alleged JFK terror plot raises questions about the security of U.S. oil and gas pipelines. CNN's Jeanne Meserve reports.Play video


Brent, which has rallied from around $50 a barrel in January, touched $73.12, the highest price since Aug. 25, 2006. (more)
http://money.cnn.com/2007/07/04/markets/bc.markets.oil.reut/index.htm?postversion=2007070412
 
Oil bubbles ahead of stockpile report

Inventory report expected to show dip in crude stocks and a rise in stocks of refined oil products.

July 5 2007: 6:09 AM EDT


LONDON (Reuters) -- Oil prices climbed Thursday ahead of U.S. data that is expected to show more crude oil is passing through refiners in the world's top consumer to meet robust summer gasoline demand.
U.S. crude for August delivery gained 45 cents to $71.86 a barrel in electronic trading, with activity still thin following Wednesday's Independence Day holiday.
http://money.cnn.com/2007/07/05/markets/bc.markets.oil.reut/index.htm?postversion=2007070506
 
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Opps, Sorry been really busy at work! Don't like $72!:mad:

MARKET SNAPSHOT
U.S. stocks mixed as oil tops $72 a barrel
Bond yields rise again, offsetting Blackstone's $26 billion deal to buy Hilton

By Nick Godt & Leslie Wines, MarketWatch
Last Update: 10:30 AM ET Jul 5, 2007

NEW YORK (MarketWatch) -- U.S. stocks were mixed on Thursday, with crude oil prices topping $72 a barrel and rising bond yields offsetting strong economic data and a $26 billion deal to buy Hilton Hotels Corp.
Market activity remained subdued with many traders taking time off after the Independence Day holiday on Wednesday.
"I would say it is going to be a quiet day after the holiday and after a good run on Monday and Tuesday," said Peter Boockvar, equity strategist at Miller Tabak. "But interest rates are going higher and that may be one fly in the ointment,' he said.
(more)
http://www.marketwatch.com/News/Story/Story.aspx?column=Market+Snapshot
 
AP
Oil, Gas Waver on Inventory Report
Thursday July 5, 11:39 am ET
By John Wilen, AP Business Writer Energy Futures Seek Direction After Report Shows Higher Inventories, Refinery Utilization
NEW YORK (AP) -- Oil and gasoline prices wavered as traders sought direction Thursday from a government report showing unexpectedly large increases in gasoline and crude oil inventories and a lower-than-expected rise in refinery utilization rates.
http://biz.yahoo.com/ap/070705/oil_prices.html?.v=19
 
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Oil rises as Nigerian tensions mount:mad:

Traders are wary about violence at oil producing Niger Delta; U.S. stockpiles report also support prices.

July 6 2007: 6:49 AM EDT


LONDON (Reuters) -- Oil climbed Friday as abductions in Nigeria's oil producing Niger Delta and increased demand from refiners in top consumer the United States helped drive the price uptrend.
U.S. crude gained 2 cents to $71.83 a barrel in electronic trading. London Brent crude rose 12 cents to $74.87, after touching a session high of $75.10, its highest since last Aug. 14.
http://money.cnn.com/2007/07/06/markets/bc.markets.oil.reut/index.htm?postversion=2007070606
 
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Our friends in Briton are having a hard time with the price of Oil, shades of things to come?:(


Nigeria fears push oil over $76

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Oil prices have surged past $76 a barrel amid growing concern that unrest in Nigeria will hit exports.
The kidnap of a three-year-old British girl this week has been seen as an escalation of the violence that has plagued the oil-rich Delta region.
Brent crude climbed as high as $76.01 a barrel, before falling back to trade at $75.62. In New York, US light crude added 62 cents to $72.81.
High oil prices may fuel inflation and dent consumer spending, analysts said.
http://newsvote.bbc.co.uk/2/hi/business/6277464.stm
 
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How much oil is in reserve?
Nobody really knows!!:confused:

How much oil do we really have?

By Adam Porter
In Perpignan, France

As oil prices remain volatile the markets do their best to forecast future prices. Unfortunately this is not an easy task. While it may appear extraordinary to outsiders one of the main problems in the oil market is the reliability of basic statistics.
The oil industry calls the problem 'data transparency'.
As an example this week is a 'revision' to oil demand growth in the United States in 2004.
http://newsvote.bbc.co.uk/2/hi/business/4681935.stm
 
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I can't help but have mixed feelings about Iran's problems with Oil!:suspicious:

Iran oil capacity seen at risk

Official quoted as saying production will fall 5% a year unless there's new investment.

July 8 2007: 12:05 PM EDT

TEHRAN (Reuters) -- Iran's oil production capacity will fall by 5 percent a year without new investment, a senior oil official was quoted Sunday as saying by the Iran's student news agency ISNA.
Iranian officials have previously put production capacity at a little more than 4 million barrels per day (bpd), with actual output - limited to a quota set by the oil cartel OPEC - running at a little below 4 million bpd.
http://money.cnn.com/2007/07/08/news/international/bc.iran.oil.reut/index.htm?postversion=2007070812
 
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Global oil demand to outstrip supply

International Energy Agency says demand will grow by 2.2 percent until 2012; biofuels to grow but remain marginal.

July 9 2007: 7:14 AM EDT

LONDON (Reuters) -- World oil demand will rise faster than expected to 2012 while supply lags, leading to a tighter market than previously anticipated, the International Energy Agency said on Monday.
In its Medium-Term Oil Market Report, the adviser to 26 industrialized countries said demand will rise by an average 2.2 percent a year between 2007 and 2012, up from a previous medium-term forecast of 2 percent.

http://money.cnn.com/2007/07/09/new....energy.reut/index.htm?postversion=2007070907
 
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Oil eases but supply worries persist

Crude falls, but concerns about Nigeria crude production, U.S. inventory levels remain.

July 9 2007: 5:57 AM EDT

SYDNEY (Reuters) -- Oil prices edged lower Monday as post-weekend profit-taking was limited by concerns over U.S. fuel supplies, Nigerian crude shipments and North Sea maintenance.
Crude fell 73 cents to $72.08 a barrel, still some distance from its record high of $78.40 touched last July 14.

http://money.cnn.com/2007/07/09/markets/bc.markets.oil.reut/index.htm?postversion=2007070905
 
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Global oil demand to outstrip supply

International Energy Agency says demand will grow by 2.2 percent until 2012; biofuels to grow but remain marginal.

July 9 2007: 7:14 AM EDT


LONDON (Reuters) -- World oil demand will rise faster than expected to 2012 while supply lags, leading to a tighter market than previously anticipated, the International Energy Agency said on Monday.
In its Medium-Term Oil Market Report, the adviser to 26 industrialized countries said demand will rise by an average 2.2 percent a year between 2007 and 2012, up from a previous medium-term forecast of 2 percent.

http://money.cnn.com/2007/07/09/news/international/bc.iea.energy.reut/index.htm
 
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It's all Money my friends!!:suspicious:

Energy chief: OPEC's hands tied

Algerian energy minister Chakib Khelil blames capacity, refining problems for high price of global crude.

July 9 2007: 7:30 AM EDT

BRUSSELS (Reuters) -- Algeria's Energy and Mines Minister Chakib Khelil said Monday there was "not much" OPEC could do to bring down high oil prices as global crude oil stocks were already sufficient.
"There is plenty of stocks. It's a problem with capacity and refining," Khelil told Reuters ahead of a gas pipeline conference in Brussels.
Oil eases but supply worries persist

"Even if it (OPEC) increases production, it's just going to increase stocks and not have any affect because prices are drawn by petroleum product prices." Get that?
http://money.cnn.com/2007/07/09/new...algeria.reut/index.htm?postversion=2007070907
 
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Cheap, clean energy from the sun? This new solar power plant in California will cover 7 square miles!!:cool:

Stirling Energy and Southern California Edison have announced they plan to construct a 4,500-acre solar generating station in Southern California. When completed, the proposed power station would be the world's largest solar facility, capable of producing more electricity than all other U.S. solar projects combined. They promise a cost of electricity of 0.06$/kWh.

For the full report:
http://www.treehugger.com/files/2006/08/worlds_largest_4.php
 
OK, so you think GAS is HIGH!:suspicious:

All these examples do NOT imply that gasoline is cheap;
It just illustrates how outrageous some prices are....

You will be really shocked by the last one!!!!
(At least, I was...)

Compared with Gasoline......

Think a gallon of gas is expensive?

This makes one think, and also puts things in perspective.

Diet Snapple 16 oz $1.29 ... $10.32 per gallon

Lipton Ice Tea 16 oz $1.19 ..........$9.52 per gallon

Gatorade 20 oz $1.59 .... $10.17 per gallon

Ocean Spray 16 oz $1.25 . $10.00 per gallon

Brake Fluid 12 oz $3.15 . $33.60 per gallon

Vick's Nyquil 6 oz $8.35 ... $178.13 per gallon

Pepto Bismol 4 oz $3.85 .! . $123.20 per gallon

Whiteout 7 oz $1.39 ....... . $25.42 per gallon

Scope 1.5 oz $0.99 .....$84.48 per gallon

And this is the REAL KICKER
Evian water 9 oz $1.49..........$21.19 per gallon!

$21.19 for WATER

and the buyers don't even know the source.

(Evian spelled backwards is Naive.)

Ever wonder why printers are so cheap?

So they have you hooked for the ink

Someone calculated the cost of the ink at................

you won't believe it...................

but it is true.........................

$5,200 a gal. (five thousand two hundred dollars)

So, the next time you're at the pump,
be glad your car doesn't run on
water, Scope, or Whiteout, Pepto Bismol, Nyquil
or God forbid, Printer Ink!!!!!

Just a little humor to help ease the pain of your next trip to the pump...

And - If you don't pass this along to at least one person,
your muffler will fall off!!

Makes one stop and think, doesn't it?:notrust:
 
I hope they git'r done. I pay .10 cents a kWh and expect another hike soon.

http://en.wikipedia.org/wiki/Stirling_engine

Aviator_Guy said:
Cheap, clean energy from the sun? This new solar power plant in California will cover 7 square miles!!:cool:

Stirling Energy and Southern California Edison have announced they plan to construct a 4,500-acre solar generating station in Southern California. When completed, the proposed power station would be the world's largest solar facility, capable of producing more electricity than all other U.S. solar projects combined. They promise a cost of electricity of 0.06$/kWh.

For the full report:
http://www.treehugger.com/files/2006/08/worlds_largest_4.php
Click to expand...
 
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