Oil Slick Stuff

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I bet that the thing going on in Iran will lower oil prices too...;)



Power to the people of Iran!!!
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Buster said:
I bet that the thing going on in Iran will lower oil prices too...;)



Power to the people of Iran!!!
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I was waiting to hear that the flow of Oil exports from IRAN is slowing because of this stuff.:mad:
 
Man you must be in CA or something? Any drop this week won't be reflected in price at the pump until it trickles down!:cool:
 
nnuut said:
Man you must be in CA or something? Any drop this week won't be reflected in price at the pump until it trickles down!:cool:
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SSSSSHHHHHHHHHHH!!!!! I'm taking vacation at the end of the week... to use your words ..... c'mon down you greasy devil and get down quick!!! Daddy needs a cheap trip! :laugh:
 
Lately when Gas and Oil go down the Market follows suit, which is exactly opposite of what should really happen. Dollar is up today which should effect the price of oil and gas, by driving the price UP, but it's falling!! So what ever you think just do the opposite and you will have a better chance of being correct.:blink:
 
Oil ends at two week low

Futures fall sharply as signs of weak energy demand overshadow tense political situations around the world.

By Ben Rooney, CNNMoney.com staff writer
Last Updated: June 22, 2009: 3:04 PM ET


Click the chart for current oil prices.

NEW YORK (CNNMoney.com) -- Oil prices fell sharply Monday as investors looked past tense geopolitical situations to focus on the weak outlook for the global economy.
Light, sweet crude for July delivery fell $2.62, or 3.8%, to settle at $66.93 a barrel in New York. It was the lowest closing price since June 3, when crude settled at $66.12 a barrel.
Oil for August delivery, which replaces July as the active contract Monday, fell $2.52 to $67.50 a barrel.
The retreat comes despite ongoing political unrest in Iran, militant attacks on oil installations in Nigeria and escalating tensions with North Korea.
http://money.cnn.com/2009/06/22/markets/oil/index.htm?postversion=2009062215
 
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Crude rises as inventories expected to fall
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By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) - Crude oil futures rose Tuesday after hitting their lowest level in more than three weeks on expectations that crude inventories in the U.S., the world's biggest consumer of oil, have fallen.
August crude futures rose $1.34, or 2%, to $68.84 a barrel on the New York Mercantile Exchange, rising on the heels of a 4% slump in the previous session.
http://markets.usatoday.com/custom/...S&guid={ACB8B868-0452-4131-92A8-DBF7512DEAC5}
 
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Oil prices creep toward $70

A weaker dollar and supply disruptions in Nigeria drive crude prices up nearly 2.6%.

Last Updated: June 23, 2009: 3:27 PM ET

Click the chart to view the latest commodity prices.

NEW YORK (Reuters) -- Oil rose nearly 2.6% Tuesday as the dollar weakened and disruptions from OPEC member Nigeria stoked supply concerns.
Light, sweet crude for August delivery rose $1.74, or 2.6%, to settle at $69.24 a barrel in New York. Crude slumped Monday to close at a two-week low.
The U.S. dollar fell against the euro on speculation the Federal Reserve may lower expectations of an interest rate rise when it concludes its meeting Wednesday.
The dollar's losses supported commodities denominated in the greenback, pushing up the benchmark Reuters-Jefferies CRB Index of 19 commodity futures.
"The weaker dollar is supportive and you have the supply disruptions in Nigeria and the turmoil in Iran," said Joseph Arsenio, managing director at Arsenio Capital Management in Larkspur, California.[more]
http://money.cnn.com/2009/06/23/markets/oil.reut/index.htm?postversion=2009062315
 
Market Update

10:30 am : Materials stocks continue to trade with strength. The sector is up 2.9% amid broad-based buying in the equity markets. Modestly higher commodities prices are also helping a bit.
The CRB Commodity Index is currently up 0.2% as gold prices spike 1.2% to $935.40 per ounce. Silver is up 1.3% to $14.03 per ounce.
Energy-based commodities are faltering, though. Natural gas prices are down 3.1% to $3.76 per contract, while oil prices have slid 0.8% to $68.70 per barrel in the wake of the latest weekly oil inventory data.
According to the data, a draw of 3.87 million barrels took place last week. The consensus called for a much smaller draw, but a larger-than-expected build in gasoline inventories has overshadowed the crude data.DJ30 +86.61 NASDAQ +35.80 SP500 +12.57 NASDAQ Adv/Vol/Dec 1918/517 mln/467 NYSE Adv/Vol/Dec 2470/223 mln/359
http://www.yahoofinance.com
 
Contrary to popular belief about the trickle down and trickle up in gas prices in respect to oil prices changing after about a week delay, it is not true...

Oil has been going up ..no?..and so has pump prices proportionally. When Oil actually took a turn back into the $60's the other day...Gas actually went down .02 the following day..So much for the delay theory.:suspicious:
 
Buster said:
Contrary to popular belief about the trickle down and trickle up in gas prices in respect to oil prices changing after about a week delay, it is not true...

Oil has been going up ..no?..and so has pump prices proportionally. When Oil actually took a turn back into the $60's the other day...Gas actually went down .02 the following day..So much for the delay theory.:suspicious:
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It does seem that way Buster. Here are all current RBOB GAS FUTURES Contracts For the year.

http://www.nymex.com/RB_fut_csf.aspx
 
Oil prices creep toward $70

A weaker dollar and supply disruptions in Nigeria drive crude prices up nearly 2.6%.

See all CNNMoney.com RSS FEEDS (close)

Last Updated: June 23, 2009: 3:27 PM ET

Click the chart to view the latest commodity prices.

NEW YORK (Reuters) -- Oil rose nearly 2.6% Tuesday as the dollar weakened and disruptions from OPEC member Nigeria stoked supply concerns.
Light, sweet crude for August delivery rose $1.74, or 2.6%, to settle at $69.24 a barrel in New York. Crude slumped Monday to close at a two-week low.
The U.S. dollar fell against the euro on speculation the Federal Reserve may lower expectations of an interest rate rise when it concludes its meeting Wednesday.
The dollar's losses supported commodities denominated in the greenback, pushing up the benchmark Reuters-Jefferies CRB Index of 19 commodity futures.
"The weaker dollar is supportive and you have the supply disruptions in Nigeria and the turmoil in Iran," said Joseph Arsenio, managing director at Arsenio Capital Management in Larkspur, California.
Italian oil company ENI declared force majeure on shipments of Brass River crude oil from Nigeria.[more]
http://money.cnn.com/2009/06/23/markets/oil.reut/index.htm?postversion=2009062315
 
This didn't have to happen, again!!:mad:

Gas prices strain struggling households

The recent spike in gasoline prices comes at a particularly unfortunate time -- many Americans are still reeling from the economic downturn. Here is how some people have responded to the return of pain at the pump.

1 of 7


Paul Vasquez: Sorry, economy, I can't help you

paul_vasquez.jpg
Paul and Yolanda Vasquez have cut back on spending due to rising gas prices.


IT Administrator, 30, Glen Head, N.Y.

Last year, when the price of gas hit its all-time high, I had to cut down to regular (grade) so I could get the total fill-up price under $85.
As the price of everything else went up, I found myself using my credit cards all the time to get gas.
I took out a loan, and that helped to pay off some bills. I also refinanced my car loan so that I could lower my monthly costs.
Once the price of gas started to go down, I felt the savings I had created would allow me to pay off my cards, and actually save some money.
This is provided the costs of fuel did not go up again. However, prices are already over $3 a gallon at pretty much every gas station.
http://money.cnn.com/galleries/2009/news/0906/gallery.real_people_gas_prices/index.html
 
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Gas Dropped another .19 today...same week we had the Oil price dip..hmmmm..I'm sure it's short lived..probably a .25 hike coming soon.:suspicious:
 
Inventory stocks of crude and gasoline are still way above normal, although settling down a little.

Still, it makes you wonder- with all this oil laying around, why did prices spike up last month ? Who is running the market price higher when there is this much extra just laying around?

 
James48843 said:
Inventory stocks of crude and gasoline are still way above normal, although settling down a little.

Still, it makes you wonder- with all this oil laying around, why did prices spike up last month ? Who is running the market price higher when there is this much extra just laying around?

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CROOKS, that's who, and our Government is letting it happen!:cool:
 
Weak dollar contributes.

James48843 said:
Inventory stocks of crude and gasoline are still way above normal, although settling down a little.

Still, it makes you wonder- with all this oil laying around, why did prices spike up last month ? Who is running the market price higher when there is this much extra just laying around?

Click to expand...
 
Oil gains more ground

Crude futures top $71 after Nigerian rebels claim to have blown up a wellhead. Tension in Iran also supports prices.

June 26, 2009: 6:22 AM ET


Click on the chart to see other commodity prices.
LONDON (Reuters) -- Oil rose to $71 a barrel Friday after Nigerian rebels said they blew up a wellhead in a Royal Dutch Shell oilfield and as equity markets rallied on optimism the global recession was easing.


The move in oil followed a 2% gain on Thursday and put it on course for a 7% gain this week, buoyed by prospects for an economic recovery that has lifted prices from below $40 over the past four months.
The release of the June consumer sentiment index by the Reuters/University of Michigan Surveys of Consumers later Friday was expected to reflect a mildly improving outlook for the U.S. economy, auguring well for ailing world energy demand.
Although U.S. jobless claims last week rose, first-quarter gross domestic product shrank slightly less than estimated, suggesting the downturn may be easing.
http://money.cnn.com/2009/06/26/markets/oil.reut/index.htm?postversion=2009062606
 
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Oil tumbles more than $1

Crude futures below $70 as stocks selloff. Nigerian officials say Africa's largest oil producer will observe a ceasefire with militants.

Last Updated: June 26, 2009: 12:31 PM ET


LONDON (Reuters) -- Oil prices fell more than a dollar on Friday, tracking a sell-off on Wall Street and after top African oil producer Nigeria said it would halt a battle with rebels during a 60-day amnesty period for militants.
U.S. crude oil was down $1.21 to $69.02 a barrel. London Brent fell $1.11 to $68.67.
"The oil market is following Wall Street right now," said Daniel Flynn, an analyst with Alaron Trading in Chicago. [more]
http://money.cnn.com/2009/06/26/markets/oil.reut/index.htm?postversion=2009062612
 
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