Oil Slick Stuff

Sort by newest Sort by date
nnuut said:
Crooks ARE EVERYWHERE! View attachment 3653
They better hope I don't catch them stealing my stuff!:nuts::cool:
Click to expand...
So what are the oil investors called....u know the current energy crises brings to mind why isn't this one important commodity regulated .....it should be since it is a basic dependent source of everyone on earth.....let dollars and gold go up and down, but regulate oil to regulate economic conditions.

Carnac
 
The_Technician said:
So what are the oil investors called....u know the current energy crises brings to mind why isn't this one important commodity regulated .....it should be since it is a basic dependent source of everyone on earth.....let dollars and gold go up and down, but regulate oil to regulate economic conditions.

Carnac
Click to expand...
Price Fixing!!!!:nuts:
 
The_Technician said:
So what are the oil investors called....u know the current energy crises brings to mind why isn't this one important commodity regulated .....it should be since it is a basic dependent source of everyone on earth.....let dollars and gold go up and down, but regulate oil to regulate economic conditions.

Carnac
Click to expand...
The energy crisis was oil regulation.... by OPEC:nuts: But now the tail is wagging the dog, OPEC is more like a group of cat herders. I hope this current fall in commodities prices will get the speculators out at least.
 
When is congress going to investigate "Big Gold"..???

I mean $1000/oz..??! come on!!! It's killin' meh bling!


mr_t_inducted_1102orgA.jpg
 
Oil falls after big run-up

Crude prices shed $1 a barrel after surging on drop in U.S. gasoline stocks.

Last Updated: April 3, 2008: 7:23 AM EDT

VIENNA, Austria (AP) -- Oil prices retreated from their closing high Thursday after jumping nearly $4 a barrel in the previous session on a U.S. government report of a larger than expected decline in gasoline stockpiles. Gasoline prices also fell.
Traders brushed aside a large increase in crude oil inventories reported by the U.S. Energy Department Wednesday, focusing instead on the third straight week that gasoline inventories fell.
Light, sweet crude for May delivery fell $1.01 to $103.82 a barrel by noon in European electronic trading on the New York Mercantile Exchange. The contract on Wednesday jumped $3.85 to settle at $104.83 a barrel.
The department's Energy Information Administration said gasoline supplies fell 4.5 million barrels last week, twice the decline forecast by analysts surveyed by Dow Jones Newswires.
Falling gasoline inventories suggest supplies are tightening as the peak summer driving season approaches. That could boost prices of the motor fuel further, and keep oil prices elevated. But some suggested oil's gains in the previous session were overdone.[more]
http://money.cnn.com/2008/04/03/markets/oil.ap/index.htm?postversion=2008040307
 
Oil rebounds to $104 a barrel

Traders buying as a hedge against inflation offset those fearing lower demand.

April 4, 2008: 5:57 AM EDT
BANGKOK, Thailand (AP) -- Crude oil futures rebounded Friday in Asia after falling a dollar overnight as the U.S. currency stabilized and prompted selling by investors that had been buying crude as a hedge against inflation.
Oil prices have held above $100 a barrel for more than a month, largely on the view that crude, gold and other hard commodities are effective hedges against a falling dollar and rising prices.
As the dollar has started to recover against the yen and euro, investors have been less prone to pour money into oil for reasons unrelated to supply and demand.
Light, sweet crude for May delivery rose 48 cents to $104.31 a barrel in Asian electronic trading on the New York Mercantile Exchange by midafternoon in Singapore.
The Nymex crude contract settled $1 lower in the previous session at $103.83 a barrel.
Prices, analysts say, remain caught between those that want to buy oil as a hedge against another reversal in the dollar and those saying slowing economies worldwide will cut demand for fuel and energy.
On Wednesday, the front-month crude futures contract gained nearly $4 after a report showed a bigger-than-expected fall in U.S. gasoline inventories.[more]
http://money.cnn.com/2008/04/04/markets/OIL.ap/index.htm?postversion=2008040405
 
Gas sets second straight record high

Nationwide average price of regular unleaded sets another all-time high of $3.303 a gallon, according to AAA survey.:mad:

Last Updated: April 4, 2008: 6:47 AM EDT

NEW YORK (CNNMoney.com) -- The average price of regular gasoline hit another record high overnight, a AAA survey showed Friday.
The average price of regular unleaded jumped more than a penny to a national average of $3.303 a gallon, exceeding the record set the previous day, according to AAA's Web site.
Gas prices are up more than 22% from where they were last year. A month ago, the nationwide average was at $3.178 a gallon.
Pump prices have been on a record-setting run, supported by high crude prices.
Several senators suggested Thursday that Congress may need to intervene in the oil market to make it more difficult to purchase high-risk oil contracts, which some say are driving up gas prices.
The average price-per-gallon of diesel fuel held steady at $4.023.
The rising price of diesel fuel has been a major concern for workers in the trucking industry. Diesel averaged $3.696 a gallon last month and $2.872 a year ago.
California, the state with the most expensive gas, saw prices for regular gas jump 1.6 cents to $3.679 a gallon. Hawaii also maintained prices above $3.60 a gallon.
New Jersey was the only state to see gas prices below $3.10 a gallon. Prices rose two-tenths of a cent in that state to $3.046 a gallon.
The AAA survey, updated daily, tracks prices at roughly 80,000 service stations across the country. It is conducted for the group by Oil Price Information Service.
http://money.cnn.com/2008/04/04/news/economy/gas_prices/index.htm?postversion=2008040406
 
AP
Oil Rises Near $107 a Barrel
Monday April 7, 9:28 am ET
By Pablo Gorondi, Associated Press Writer Oil Rises Near $107 a Barrel As Poor US Jobs Data Raises Chances of More Fed Rate Cuts
Oil prices rose Monday as prospects for further cuts in U.S. interest rates seemed more likely after poor U.S. jobs data at the end of last week.
Light, sweet crude for May delivery rose $1.07 to $107.30 a barrel in electronic trading on the New York Mercantile Exchange by the afternoon in Europe. On Friday, the contract rose $2.40 to settle at $106.23 a barrel.
In London, Brent crude futures rose $1.05 to $105.95 a barrel on the ICE Futures exchange.
The U.S. Labor Department said Friday that employers cut payrolls by 80,000 jobs last month, much more than analysts had expected. The news that the U.S. unemployment rate rose to 5.1 percent is consistent with forecasts that the U.S. is experiencing a sharp pullback in economic growth in the first half of the year.
"The dollar fell because investors figured that the U.S. Federal Reserve would cut interest rates even further to help bolster the economy," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore.
The Fed has cut its key rates several times since the middle of last year in an effort to shore up the U.S. economy against fallout from the subprime housing loan crisis. And each reduction has pulled investors to oil, gold and other hard commodities as a hedge against inflation and a weakening currency.
"The falling dollar has been one of the key factors supporting oil prices in the past weeks," Shum said.
While oil demand in the world's largest energy consumer has slowed along with the U.S. economy, oil prices have not.
Many analysts believe that's partly because weak economic data has hastened the decline of the dollar, whose weakness sustains the purchasing power of oil consumers using other currencies, and prods oil exporters to raise prices for the dollar-denominated commodity.
"The weakening fundamentals exert a lid on how high oil pricing can go, but the weak dollar continues to prop up oil pricing," Shum said. "We have this tug of war going on. ... I think that fundamentals will eventually prevail and pull back oil prices as you can defy the gravity of fundamentals only for so long."
Figures released last week by the U.S. Energy Information Administration supported concerns that demand growth in the United States for oil and its products continued to weaken.
For example, negative demand growth for diesel "could be an indication of less trucking activity stateside, which could be the result of an economic slowdown," said a report by JBC Energy in Vienna, Austria, which forecast a 1 percent drop in U.S. demand this year. In other Nymex prices, heating oil futures rose 5.17 cents to $3.0438 a gallon while gasoline futures added 0.63 cents to $2.7630 a gallon.
http://biz.yahoo.com/ap/080407/oil_prices.html
 
One would think that with renewed oil price pressure, and the lousy jobs report last week, that we'd get some downside into stocks.

Who would have thunk it that we'd have as much strength as we are getting?
 
Last edited:
If the price of gas followed it's normal relationship to the price of a barrel of oil, we'd be at about $3.80-$3.90 already. Here is a 2 year chart showing the underlying price of oil by the barrel in blue, and then the current nationwide price of gasoline in red. We're due for a fairly large spike up in pump price, according to this chart.


This chart tells me we SHOULD be at around $3.90 now. The only reason we're not is, I think, that we're getting some alterations in driving habits affecting demand, and the slowing economy. If demand resumes, like the usual Memorial day - summer season, watch for it to spike up above $4.

Chart from "gasbuddy.com".​

P.S.- I burn E-85 as much as I can.​
 
You must log in or register to reply here.
Back
Top