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Oil hovers near $50 as recovery doubts linger

Oil hovers around $50 as investors weigh possible 2nd half recovery, current recession

  • George Jahn, Associated Press Writer
  • Friday April 17, 2009, 9:20 am EDT
VIENNA (AP) -- Hopes of a possible second-half recovery in crude demand and upbeat U.S. earnings lifted oil prices above $50 Friday, despite recent dismal economic data and growing U.S. inventories.

Benchmark crude for May delivery added 45 cents to $50.43 a barrel by afternoon in European electronic trading on the New York Mercantile Exchange. The contract on Thursday rose 73 cents to settle at $49.98.
Oil prices have bobbed around $50 a barrel this month as the backdrop of high unemployment, weak consumer demand and falling corporate profits has tempered investor optimism about an eventual economic rebound and the strong profits reported by U.S. banks such as JP Morgan Chase & Co. and Goldman Sachs Inc.
http://finance.yahoo.com/news/Oil-h...955945.html?sec=topStories&pos=4&asset=&ccode=
 
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nnuut said:
It seems to me that if the stations were pricing their inventory correctly, there would be differences from station to station. If they fill their Regular tank at the market price they should charge based on that price. If they use half of the same tank and top it off with Gas at a higher price they should take into consideration both prices paid for the mixed produce and price accordingly.
So how do they have the same price at many stations when they buy their inventory at different times for different prices, they all don't buy from the same distributor?:suspicious:
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Ya but..if that were true, their prices would or should fluctuate up and or down with each bulk delivery, which is once or twice or more a week and that is not what is happening here at least..One station has kept it's price at $1.87 for nearly a month...The differences are still the same regardless of the net fuel prices....So IMO, it looks like it's a station by station thing, setting their fixed profit margin...

BTW..Most all gas is delivered is from one main bulk storage depot and the different brands have their proprietary additives added when the tanker truck fills up for delivery....kinda like the electric power utility is all on a main power grid, but each state and local power companies ties into it and call it theirs..
 
Yer right Buster they have ti be doing that. You know that gas at a BP, Shell or some others costs more than Gas at let's say the local Express Stop or Enmark, always does. I think they are gouging, but not enough to draw attention.
 
Interesting, ---- I wonder how much electricity one of those would use in a 15,000 mile year?
I like your 1st link, I'll add it to page 2 of the Oil Slick Stuff Home Page if you dont mind?
Thanks
Norman
 
Do I see a trend here?:mad:

NYMEX NYH RBOB Gasoline: [ CLICK] NYH RBOB Gasoline
SHORT TERM TREND,
attachment.php

..........................Gallon....Weekly Status
Settle.02/27/09..$1.2807 ....+.2061
Settle.03/06/09..$1.3322 ....+.0415
Settle.03/13/09..$1.3529 ....+.0207
Settle.03/20/09..$1.4570 ....+.1041
Settle.03/27/09..$1.4879 ....+.0309
Settle.04/03/09..$1.4924 ....+.0045
Settle.04/10/09..$1.4810.....-.0114
Settle.04/17/09..$1.4927 ....+.0117
 
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Do I see a TREND here?:mad::nuts:

US Federal Court Throws Out DOI's 5-Year Oil, Gas Leasing Plan
by Ian Talley
|
Dow Jones Newswires
|
Friday, April 17, 2009

WASHINGTON (Dow Jones Newswires), Apr. 17, 2009
A federal appeals court Friday threw out the Department of the Interior's 2007-2012 five-year oil and natural gas leasing plan -- potentially halting development in the Gulf of Mexico and Alaska -- telling the agency it needed to better consider environmental impacts.
The decision further delays exploration and development of Outer Continental Shelf resources at a time when energy analysts warn that more investment is needed in the sector to prevent price spikes in coming years.

http://www.rigzone.com/news/article.asp?hpf=1&a_id=75200
 
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California Officials Say No to New Offshore Drilling:worried:
by Cassandra Sweet
|
Dow Jones Newswires
|
Friday, April 17, 2009

SAN FRANCISCO (Dow Jones Newswires), Apr. 17, 2009
California officials expressed unanimous opposition Thursday to new offshore oil and gas drilling in a meeting U.S. Interior Secretary Ken Salazar held to gauge public sentiment on the issue.
Opening the California coast to drilling for oil and natural gas would be an environmental and economic disaster for the state, said Sen. Barbara Boxer, D-Calif. The most populous U.S. state relies on tourism, recreation and other coastal industries tied to ocean resources for $23 billion a year in revenue and 390,000 jobs, she said. The U.S. should focus on expanded development of renewable energy and energy efficiency, she said, echoing comments made by dozens of state and local officials. [More]
http://www.rigzone.com/news/article.asp?a_id=75178
 
Well, so much for breaking the habit of depending on foreign oil....It's plain to see..when the talks were feverish about opening our own OIL fields the prices went down..This kind of reluctance to drill our own oil will most certainly drive the price back up again..:mad:
 
Buster said:
Well, so much for breaking the habit of depending on foreign oil....:mad:
Click to expand...


thank goodness for American Farmers.

Remember- President Ronald Reagan boasted about how his first-term policies boosted ethanol production from 75 million gallons to more than 450 million gallons.

Today we are approaching 10 BILLION gallons of ethanol production- making a real dent in that foreign oil problem.

ethanol_farmer_middle_east_political_cartoon.jpg

​
 
GREEN isn't free!!
clear.gif
:suspicious:

Consumers start feeling higher costs of clean fuel Updated 10h 40m ago

By Paul Davidson, USA TODAY
Clean energy has a dirty secret.
It isn't cheap.
Consumers already are starting to feel at least a modest pinch in their electric bills. The impact is expected to grow in the next few years as utilities accelerate their investments to meet state quotas requiring a portion of clean energy in their generation mix. And bills in Congress would impose a similar national quota, an idea President Obama supports.
The cost is one reason electric rates have been fairly stable as oil and natural gas prices have plunged.
"There are offsetting costs — renewables is one — that are keeping power prices up," says Larry Makovich of Cambridge Energy Research Associates (CERA).
http://www.usatoday.com/money/indus...ent/2009-04-19-higher-cost-clean-energy_N.htm
 
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James48843 said:
thank goodness for American Farmers.

Remember- President Ronald Reagan boasted about how his first-term policies boosted ethanol production from 75 million gallons to more than 450 million gallons.

Today we are approaching 10 BILLION gallons of ethanol production- making a real dent in that foreign oil problem.

ethanol_farmer_middle_east_political_cartoon.jpg
Click to expand...
Don't get me wrong Jim, when I say Ethanoil isn't the answer..I am in full support of it, if it keeps the US from having to buy another drop of crude from OPEC.;)
 
Oil falls below $48

Stronger dollar, weak demand and rising supply weigh on crude prices.

By Ben Rooney and Julianne Pepitone, CNNMoney.com staff writers
April 20, 2009: 9:20 AM ET


Click the chart to view the latest commodity prices.
NEW YORK (CNNMoney.com) -- The price of oil fell Monday as the U.S. dollar advanced and investors remained concerned about weak demand and rising inventories.



http://money.cnn.com/2009/04/20/markets/oil/index.htm?postversion=2009042009
 
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Oil down BIG TIME due to stronger Dollar and WEAK DEMAND! Oil prices seem to be following the Market lately, the Market down Oil down and Visa Versa:worried: So if you see Oil dropping the Market will probably drop and if Oil rises the Market MAY rise!:cool:
 
nnuut said:
Oil down BIG TIME due to stronger Dollar and WEAK DEMAND! Oil prices seem to be following the Market lately, the Market down Oil down and Visa Versa:worried: So if you see Oil dropping the Market will probably drop and if Oil rises the Market MAY rise!:cool:
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But does the prices of gas at the pumps follow this trend?...Oh Hell NO!!!!! it's only up and up and up...the bastards..:mad:
 
Buster said:
But does the prices of gas at the pumps follow this trend?...Oh Hell NO!!!!! it's only up and up and up...the bastards..:mad:
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Oh it should show up at the pump sooner or later, don't forget the trickle down effect!!:cool:
 
nnuut said:
Oh it should show up at the pump sooner or later, don't forget the trickle down effect!!:cool:
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I like your optimism..but, I'll bet you that since gas just recently went up .09 or .10.for no good reason that I never heard of why....that in light of this drop in oil prices today, (if they remain low by the COB today) that gas WILL NOT drop by an significant amount..Trickle down? it's more like trickle up..:sick:
 
It should be easier to TRICKLE DOWN than TRICKLE UP? What's up with that?:D squirrel12.gif
 
Settle $45.88 -$4.45:D

Oil falls toward $46

Stronger dollar, weak demand and rising supply weigh on crude prices.

By Julianne Pepitone and Ben Rooney, CNNMoney.com staff writers
Last Updated: April 20, 2009: 12:22 PM ET

NEW YORK (CNNMoney.com) -- The price of oil fell sharply Monday as the U.S. dollar advanced and investors remained concerned about weak demand and rising inventories.
Crude prices tumbled $4.16, or almost 8.3%, to $46.17 a barrel by 12:15 p.m. ET.
Oil prices are expected to trade in a "mixed-to-lower direction" this week, according to Tom Pawlicki, an energy analyst at MF Global in Chicago.
In a recent research report he wrote that weak demand, soaring supply and evidence that oil prices may not be following the higher trends in the http://money.cnn.com/2009/04/20/markets/oil/index.htm?postversion=2009042012
 
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