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Oil edges down despite production fears

Crude falls despite decline in Nigerian oil production because of attacks on facilities.

July 10 2007: 6:23 AM EDT


SINGAPORE (Reuters) -- The price of crude eased Tuesday, but losses were limited by fears of more violence in No. 8 exporter Nigeria and looming North Sea maintenance.
U.S. crude shed 18 cents to $72.01 a barrel after falling 62 cents a day earlier, as traders fretted that fresh refinery troubles would keep U.S. crude oil stocks flush.

http://money.cnn.com/2007/07/10/markets/bc.markets.oil.reut/index.htm?postversion=2007071006
 
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07/10/2007 - Updated 3:52 PM ET
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Crude futures up as demand, output concerns growAugust contract briefly tops $73; natural gas up on hot weather bets
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By Myra P. Saefong, MarketWatch & Polya Lesova, MarketWatchSAN FRANCISCO (MarketWatch) --

Crude-oil futures closed higher Tuesday with strong demand expectations from the International Energy Agency and U.S. Energy Department and concerns over global oil production helping prices regain everything they lost in the previous session.
But prices closed below the day's peak above $73 a barrel ahead of Wednesday's release of updated data on supplies that are generally http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B4AA627D0%2DF7E0%2D4A9F%2D9197%2DA630CAACA61B%7D
 
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Gas prices shot up today in my area.

One week ago to today- up 10%.

Today: $ 3.31

Yesterday:$ 3.17

One week ago:$ 3.04

One Month Ago: $ 3.20

One Year Ago: $ 2.95
 
Crude eases before inventory report

Weekly figures expected to show a rise in stockpile.

July 11 2007: 5:57 AM EDT


LONDON (Reuters) -- Oil eased Wednesday ahead of U.S. data that will give a snapshot of fuel and crude supplies in the world's top consumer.
Crude declined 36 cents to $72.45 a barrel, while London Brent crude sank 35 cents to $76.05 a barrel. Brent hit $76.63 Tuesday, the highest since last Aug. 10.
http://money.cnn.com/2007/07/11/markets/bc.markets.oil.reut/index.htm?postversion=2007071105
 
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Saudi leader: Oil out of whack REALLY?:o

Ali a-Naimi says high prices the result of refinery outages and political tensions, not market fundamentals or shortages.

July 11 2007: 7:20 AM EDT


WARSAW (Reuters) -- Near-record oil prices are unrelated to market fundamentals of supply and demand and none of Saudi Arabia's customers is asking for more crude oil, the kingdom's Oil Minister Ali a-Naimi said on Wednesday.
Tightness in the supply of refined oil products such as gasoline coupled with international political tensions are helping propel oil's rally, Naimi told a news conference.

http://money.cnn.com/2007/07/11/new...di.opec.reut/index.htm?postversion=2007071107
 
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CNN MONEY
Oil prices off their lows after decline in government report on crude stockpiles. Details soon.
http://money.cnn.com/index.html

$80 oil lurks

Growing demand, tight supplies, turbulent geopolitics, hurricane season - a witches brew for crude prices.

By Steve Hargreaves, CNNMoney.com staff writer
July 11 2007: 10:09 AM EDT

NEW YORK (CNNMoney.com) -- Oil prices are again on a tear.
In the last four weeks, U.S. light crude oil futures have jumped about 12 percent and are now trading some $6 shy of the all-time trading high of $78.40 a barrel for a front-month contract set last July.

http://money.cnn.com/2007/07/11/markets/oil_outlook/index.htm?postversion=2007071110
 
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Oil moves off lows on inventories Getting SLICKER!!:mad:

Unexpected drop in crude supplies sends prices back to the mid-$72 range; gasoline inventories rise.

July 11 2007: 10:39 AM EDT


NEW YORK (CNNMoney.com) -- Oil prices moved off earlier lows Wednesday after a government report showed a surprise drop in crude supplies.
U.S. light crude for August delivery fell 20 cents to $72.61 a barrel on the New York Mercantile Exchange. Oil traded down 67 cents just prior to the report's release. In its weekly inventory report, the Energy Information Administration said crude stocks fell by 1.4 million barrels last week. Analysts were looking for a gain of 100,000 barrels according to Reuters.
http://money.cnn.com/2007/07/11/markets/oil_eia/index.htm?postversion=2007071110
 
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Market Update

11:00 am : Equities are still on the offensive but are off their recent highs. After being down about 1% near $72/bbl, oil prices spiking almost $1 after the EIA reported an unexpected drawdown in weekly crude supplies has taken some steam out of early recovery efforts. The Energy sector has subsequently clawed its way back into the green as well; but its 0.2% advance has not been enough to act as an offset.
The http://finance.yahoo.com/marketupdate/overview
 
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Do I think that the BIG BOYS Plan these rises in price? YES!:mad:

Oil above $73 on strong demand

Hedge fund dollars flow into market, anchoring ongoing rally; Wednesday's drop followed 10 straight days of gains.

July 12 2007: 8:55 AM EDT


LONDON (Reuters) -- Oil resumed its upward march Thursday, underpinned by strong fundamentals and increased flows of fund money into the world's most actively traded commodity.
Crude was up 65 cents at $73.21 after falling 25 cents a day earlier.
London Brent crude rose 81 cents to $76.25 a barrel by 8:37 am ET, after sliding 96 cents Wednesday on the back of U.S. weekly inventory data .
http://money.cnn.com/2007/07/12/markets/bc.markets.oil.reut/index.htm?postversion=2007071208
 
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With the exception of Oil Prices and the Trade Deficit, things look pretty promicing this morning!:D


AP
Trade Deficit Up Significantly
Thursday July 12, 9:20 am ET
By Martin Crutsinger, AP Economics Writer Trade Deficit Rises to Second Highest Level This Year, Reflecting Jump in Foreign Oil Bill
WASHINGTON (AP) -- America's trade deficit rose to its second highest level of the year, reflecting higher prices for foreign oil and a continued appetite for Chinese goods despite this year's recalls of tainted products.
http://biz.yahoo.com/ap/070712/economy.html?.v=8
 
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Oil falls back below $73 after a jump on demand

The world's most actively traded commodity saw a boost by strong fundamentals and speculative buying by hedge funds and pension funds.

July 12 2007: 1:36 PM EDT

LONDON (Reuters) -- Oil dipped lower following an upward march early Thursday, underpinned by strong fundamentals and increased flows of fund money into the world's most actively traded commodity.
U.S. crude dropped 16 cents to $72.40 after topping $73 earlier in the day.

http://money.cnn.com/2007/07/12/markets/bc.markets.oil.reut/index.htm?postversion=2007071213
 
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What, they need more money? CROOKS!:mad:

Global oil demand to rise in 2008

Global demand for oil will increase significantly next year, according to the International Energy Agency (IEA), putting further pressure on prices.

In its monthly study of market trends, the IEA said demand would rise by an average of 2.2 million barrels a day next year, up from 1.5 million in 2007.
But it expects Opec members to lift output to cover the surge in demand.
Oil prices have surged in recent weeks, topping $76 a barrel, on supply worries and violence in oil-rich Nigeria.
'More comfortable'
http://news.bbc.co.uk/2/hi/business/6897097.stm
 
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Oil gains after IEA sees rising demand

Agency says world demand for fuel will grow more rapidly in 2008 despite surging oil prices.

July 13 2007: 8:31 AM EDT


LONDON (Reuters) -- Oil prices climbed Friday after the International Energy Agency predicted no let-up in fuel demand next year despite near-record prices.
U.S. crude rose 24 cents to $72.74 a barrel in electronic trading. London Brent, seen as the best indicator of the global market, was up 64 cents to $77.04, within sight of last August's $78.65 record.
http://money.cnn.com/2007/07/13/markets/oil.reut/index.htm?postversion=2007071308
 
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Oil rallies on supply, :mad:production fears:mad:

Agency says world demand for fuel will grow more rapidly in 2008, despite surging prices; North Sea production hit by damaged pipeline.

July 13 2007: 3:33 PM EDT


NEW YORK (Reuters) -- Oil rose Friday on speculative buying as North Sea production problems and forecasts for rising demand tightened the supply outlook.
Oil has gained on a wave of buying by funds during the U.S. summer vacation season, when demand for gasoline peaks in the top oil-consuming country.

U.S. crude gained $1.43 to $73.93 a barrel. Global benchmark crude London Brent settled up $1.17 to $77.57 a barrel. Earlier, it reached an 11-month high of $77.68 - a dollar short of last August's $78.65 all-time record.
Goldman's five renewable energy drivers (More)
http://money.cnn.com/2007/07/13/markets/oil.reut/index.htm?postversion=2007071315
 
OUCH!:mad:

Speculators drive oil over $74

Tightened supplies also push up price of crude; London Brent just 25 cents shy of record.

July 16 2007: 7:05 AM EDT


LONDON (Reuters) -- Oil rose above $74 a barrel on Monday, driven towards an all-time high by an influx of speculative fund money and tightening crude supplies from the North Sea.
U.S. crude rose 17 cents at $74.10 a barrel, close to 11-month highs but still well below its record high of $78.40 set in July 2006.
$80 oil lurks
 
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