Oil Slick Stuff

Sort by newest Sort by date
08/06/2007 - Updated 4:01 PM ET
1.gif


Crude oil tumbles on energy demand concerns Reformulated gasoline and heating oil futures also decline sharply
1.gif
By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures tumbled nearly 5% Monday, extending their steep losses from last week, as traders locked in gains amid worries that a slowdown in the U.S. economy will lower demand for oil.
Crude for September delivery ended down $3.42, or nearly 5%, at $72.06 a barrel on the New York Mercantile Exchange. That was the contract's lowest closing level since July 3.
Reformulated gasoline and heating oil futures also declined sharply.

http://markets.usatoday.com/custom/...S&guid={57AB1DD6-5355-4509-9D5A-CD2EB4480CD2}
 
Last edited:
Oil tops $72 ahead of inventory report:mad:

After falling nearly 5 percent on Monday, crude steady before expected supply drop in U.S. inventory report.

August 7 2007: 8:19 AM EDT


LONDON (Reuters) -- Oil steadied Tuesday after the previous session's slide of nearly 5 percent, supported by a rebound in equity markets and expectations for a fifth weekly drop in U.S. crude inventories.
The supply and demand picture for oil remains healthy, some analysts said, a day after crude posted its biggest percentage loss since Jan. 4 as concern about the U.S. economy hit financial and commodity markets.
http://money.cnn.com/2007/08/07/markets/bc.markets.oil.reut/index.htm?postversion=2007080708
 
Last edited:
Why oil won't hit $100

New production, new energy sources and some conservation could push down prices by 2010 - but don't expect $20 a barrel anytime soon.

By Steve Hargreaves, CNNMoney.com staff writer
August 7 2007: 1:17 PM EDT

NEW YORK (CNNMoney.com) -- Despite oil's record high last week, forget about crude going to $100 a barrel.
Prices have already dropped about 7 percent since last week, and are likely to fall even more in the coming years.

http://money.cnn.com/2007/08/07/news/economy/cheap_oil/index.htm?postversion=2007080713
 
Last edited:
08/07/2007 - Updated 4:44 PM ET
1.gif


Crude oil ends up after Fed keeps focus on inflationFed acknowledges credit, growth concerns but views inflation as bigger threat
1.gif


By Polya Lesova, MarketWatch & Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Crude oil prices finished higher on Tuesday, after the Federal Reserve left rates unchanged and indicated that, while there were some risks to growth, its main concern remains inflation.
"The Federal Reserve statement seemed to be pretty benign," said Phil Flynn, analyst at Alaron Trading. "The Fed did a good job trying to calm the nerves of the market and that helped bring some buying back into oil. Because of that [the Fed] the market was less fearful than it was a little bit earlier."
://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B98E73E2F%2D6CA1%2D45E6%2DB8F4%2DDDC52924C4DC%7D
 
Last edited:
Oil down before inventory release

Crude hovers around $72 as investors expect a build in petroleum products, but a drop in oil.

August 8 2007: 5:54 AM EDT


LONDON (Reuters) -- Oil prices eased near $72 a barrel Wednesday ahead of U.S. inventory data expected to show a build in domestic petroleum product stocks, but a drop in crude supplies.
Crude futures fell 39 cents to $72.03 a barrel in electronic trading, erasing gains from the previous session.
http://money.cnn.com/2007/08/08/markets/bc.markets.oil.reut/index.htm?postversion=2007080805
 
Last edited:
Oil see-saws on drop in crude supplies

Gasoline inventories also show surprise decline, distillates rise less than expected; OPEC talks tough.

By Steve Hargreaves, CNNMoney.com staff writer
August 8 2007: 11:40 AM EDT

NEW YORK (CNNMoney.com) -- Oil prices see-sawed Wednesday after government said supplies of crude showed a big decrease, refining activity fell, and gasoline stocks slid unexpectedly.
U.S. light crude for September delivery fell 42 cents to $72 a barrel on the New York Mercantile Exchange. Oil had traded down 6 cents just prior to the report's release, and gained as much as 78 cents immediately after the report.
http://money.cnn.com/2007/08/08/markets/oil_eia/index.htm?postversion=2007080811
 
Last edited:
Oil hovers near $72 on U.S. economic worries

Concerns about slowing U.S. economy outweigh shortfall in crude stocks.

August 9 2007: 5:53 AM EDT


LONDON (Reuters) -- Oil held around $72 a barrel early Thursday as concerns over a slowing U.S. economy overshadowed an unexpectedly steep drop in fuel stocks in the world's top consumer.
Economic worries, the debt market squeeze and falling stock prices have knocked U.S. oil from an all-time high of $78.77 struck last Wednesday. Analysts say further declines may be triggered by speculative funds moving out of energy and commodities to cover losses in equities and other markets.
http://money.cnn.com/2007/08/09/markets/bc.markets.oil.reut/index.htm?postversion=2007080905
 
Last edited:
Oil falls below $71

Crude loses more than $1 as concerns over U.S. subprime mortgage sector shake the global economy; crude 11% off all-time high reached Aug. 1.

August 9 2007: 9:54 AM EDT


LONDON (Reuters) -- Oil fell more than $1, below $71 a barrel Thursday as further trouble in the U.S. subprime mortgage sector sent world stock markets tumbling and spilled over into oil and other commodities.
U.S. crude fell $1.38 to $70.77, more than 11 percent off its all-time high of $78.77 hit Aug. 1.
http://money.cnn.com/2007/08/09/markets/bc.markets.oil.reut/index.htm?postversion=2007080909
 
Last edited:
That's right, Let's raise taxes on Gasoline. What's this, a Ted Kennedy Idea or something? DUFUS!!


from_provider_ap.gif
President Bush voices opposition to increasing federal gas tax

By Jennifer Loven, Associated Press Writer | August 9, 2007

WASHINGTON --A week after a deadly bridge collapse in Minneapolis, President Bush on Thursday dismissed raising the federal gasoline tax to repair bridges at least until Congress changes how it spends highway money.

http://www.boston.com/news/local/ma...ces_opposition_to_increasing_federal_gas_tax/
 
Last edited:
Oil retreats on credit worries

Crude falls below $71 a barrel amid concerns that economic growth may be derailed by growing credit crunch.

August 10 2007: 7:15 AM EDT


LONDON (Reuters) -- Oil prices slipped below $71 Friday as worries over economic growth from a deepening credit squeeze in global financial markets outweighed forecasts for robust oil demand.
U.S. crude fell 61 cents to $70.98 a barrel, taking losses from last week's record high of $78.77 to more than 9 percent. London Brent crude fell 37 cents to $69.84.
Why oil won't hit $100

The crisis in global financial markets triggered by the sub-prime mortgage problems in the United States deepened Friday, forcing Asian central banks to join a global campaign to inject liquidity into banking systems.
http://money.cnn.com/2007/08/10/markets/bc.markets.oil.update.reut/index.htm?postversion=2007081007
 
Last edited:
Our FRIEND Hugo is at it AGAIN!:mad:


Venezuela's Chavez: Oil headed for $100 barrel

Warns Venezuela will cut off supplies if U.S. "attacks again."

August 12 2007: 12:02 AM EDT


CARACAS (Reuters) -- World oil prices are headed for $100 per barrel, Venezuelan President Hugo Chavez predicted on Saturday, and said he will cut supplies to the United States if the U.S. government "attacks" the South American nation again.
"I've always said that oil prices are headed straight to $100 per barrel," he said during a televised speech. "We should prepare ourselves for those prices of one hundred dollars."
http://money.cnn.com/2007/08/11/new...ilprice.reut/index.htm?postversion=2007081200
 
Last edited:
Average price for self-serve regular slips to $2.78 per gallon, but decline may be over as wholesale prices are on the rise.
Check prices in your area. http://www.gasbuddy.com/

August 13 2007: 6:04 AM EDT

ATLANTA (CNN) -- Gas prices fell 10.72 cents over the past two weeks, to $2.78 per gallon of self-serve regular, according to a national survey.
That brings the total decrease to more than 28 cents per gallon over the four weeks ending Friday, said Trilby Lundberg, publisher of the Lundberg Survey, which tallies prices at about 5,000 gas stations.

http://money.cnn.com/2007/08/13/news/economy/gas_prices/index.htm?postversion=2007081306
 
Last edited:
Oil bounces back over $72:(

Greater sense of calm within financial markets pushes price of crude higher.

August 13 2007: 7:08 AM EDT


LONDON (Reuters) -- Oil prices climbed above $72 a barrel Monday as calming financial markets on the back of cash injections by central banks worldwide put the spotlight back on robust energy demand expectations.
U.S. crude for September delivery rose 72 cents to $72.19 a barrel, after ending 12 cents down Friday. London's Brent crude rose 66 cents to $71.05, adding to the previous session's 18-cent gains (more)
http://money.cnn.com/2007/08/13/markets/bc.markets.oil.reut/index.htm?postversion=2007081307
 
OPEC says subprime may cut oil demand

Cartel sees higher demand for crude in near term, but refuses to heed calls for more production; supply policy meeting set for September.

August 14 2007: 7:39 AM EDT


LONDON (Reuters) -- OPEC warned Tuesday that a slowing U.S. economy and fallout from the subprime mortgage crisis could cut oil consumption in the rest of 2007.
OPEC, in its August Monthly Oil Market Report, also repeated its view that major consumers have enough crude stocks, despite calls for more oil. The report is OPEC's last before it meets Sept. 11 to set supply policy.
Why oil won't hit $100
Oil has fallen to around $72 a barrel in New York from a record high of $78.77 reached Aug. 1 because of concern that worsening credit conditions and a slowdown in the United States could take a wider economic toll.
http://money.cnn.com/2007/08/14/new...outlook.reut/index.htm?postversion=2007081407
 
Last edited:
Oil climbs as credit worries cool

Crude prices near $72 a barrel after central banks worldwide funnel cash into financial systems.

August 14 2007: 6:11 AM EDT


LONDON (Reuters) -- Oil climbed toward $72 a barrel Tuesday, supported by central banks' moves in recent days to pump extra cash into financial systems to head off dangers of a credit squeeze.
Storms in the Atlantic also provided support, although there was no immediate threat to U.S. Gulf platforms and refineries.
U.S. crude oil was up 14 cents at $71.76 a barrel. London Brent crude was flat at $70.23.
An electric car for the common man
European shares opened lower, led by a decline in banking stocks, but these early losses followed the biggest one-day rally in 15 months Monday.
http://money.cnn.com/2007/08/14/markets/bc.markets.oil.reut/index.htm?postversion=2007081406
 
Last edited:
Show-me said:
Tropical Storm Dean forms in Atlantic: NHC

Tue Aug 14, 2007 11:30AM EDT

NEW YORK (Reuters) - Tropical Storm Dean formed in the Atlantic Ocean, midway between western Africa and the Caribbean Sea, the U.S. National Hurricane Center said Tuesday.

Meanwhile, the energy market continued to watch the Gulf of Mexico where a tropical depression may form later today that could threaten U.S. oil and natural gas facilities.


http://www.reuters.com/article/dome...c=081407_11_DOUBLEFEATURE_bracing_for_flossie
Click to expand...
OH NO, that's just what we need.:eek:
 
Last edited:
You must log in or register to reply here.
Back
Top