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Crude-oil futures reclaim $67 a barrel level in Asia
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By Chris Oliver, MarketWatch

HONG KONG (MarketWatch) -- Crude-oil futures rose moderately in Asia trade Tuesday to reclaim the $67-a-barrel level, undoing some of Monday's sell-off in New York as a rally in the U.S. dollar encouraged traders to lighten up on commodities.
In Tuesday's session, light sweet crude for September delivery was up 65 U.S. cents to $67.40 a barrel in late Tokyo business hours. On the New York Mercantile Exchange on Monday, the contract shed 76 cents to end at $66.75 a barrel.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B9E18EB12%2D022C%2D492B%2DBCC8%2D66F29127825A%7D
 
Now they are at it again, trying to drive the prie of Oil up to last years levels, I don't think they will match last year but $100 a barrel is a possibility::cool:

Wholesale Prices Fall More Than Expected in July

Wholesale prices dropped sharply in July, and over the past 12 months fell by the largest amount in more than six decades.


WASHINGTON -- Wholesale prices dropped sharply in July, and over the past 12 months fell by the largest amount in more than six decades of record-keeping.
The Labor Department said Tuesday that wholesale prices dropped 0.9 percent last month.
That's triple the decline economists had expected and was driven by big decreases in both energy and food costs. Over the past 12 months, the prices of goods before they reach store shelves fell 6.8 percent.
http://www.foxnews.com/politics/2009/08/18/wholesale-prices-fall-expected-july/
 
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Bullishreturn said:
Oh Buster, Buster, Buster.

I encourage you to do some googling and look up the Santa Barbara Unocal drilling spill of 1969.

To refresh the memories of those of us old enough to remember, offshore drilling was common off the coast of California in the 1960s. In February of 1969, an oil platform had a major blowout. It spilled oil into the ocean for ten days. 200,000 galloons spilled into the water, and devastated beaches, animals, etc in Southern California.
technology has improved since then, true. But are we ready to take that kind of risk again?

That is the question society needs to answer.
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My brother...Risks are what advents progress..Look at the Space Shuttle accidents..did that stop the program?..No, it created better and safer means to deliver and retrive the shuttle to and from space...If everyone thought that risks wouldn't be worth it at the cost of lives in nature (animal and humans) then the Space program would have stopped after Apollo 1...Course you are sighting the oil accident that was in the 60's...For God sakes!!! I think they have improved on safety since then wouldn't you think? ;)..I'm just glad you were not on Columbus's ships..we'd still be in Europe thinking the world is FLAT.:D

DRILL, DRILL, DRILL!!!
 
Yeah! 1, 2, 3 all together now > DRILL BABY DRILL!!!! oilrig.gif
 
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Crude slides as Asian stocks tumble
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By Michael Kitchen, MarketWatch

LOS ANGELES (MarketWatch) -- Crude oil futures slipped in electronic trade Wednesday, tracking a decline in Asia stocks after climbing above $70 a barrel earlier in the session.
By the Asian afternoon, benchmark Nymex crude for September delivery was trading at $69.12 a barrel on Globex, down from its $69.19 close Tuesday on the New York Mercantile Exchange.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B8747EDF5%2D34B0%2D47FF%2DB4F3%2D0405D47F6646%7D
 
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Crude futures slide after strong rally; equities head lower Energy Information Administration is due to report petroleum inventories
By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude futures edged lower early Wednesday after their rally in the previous session, as another tumble in Chinese shares and indications of a lower opening on Wall Street weighed on energy prices.
Crude oil for September delivery fell 65 cents to $68.54 a barrel in electronic trading on Globex.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B8747EDF5%2D34B0%2D47FF%2DB4F3%2D0405D47F6646%7D
 
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EIA inventories Report:

http://tonto.eia.doe.gov/dnav/pet/pet_stoc_wstk_dcu_nus_w.htm

http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B8747EDF5%2D34B0%2D47FF%2DB4F3%2D0405D47F6646%7DOil futures rally above $71/brl after big drop in supplies
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By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Oil futures topped $71 a barrel Wednesday after the government reported crude supplies unexpectedly plunged by 8.4 million barrels last week, while gasoline and distillate stocks also declined.

Analysts surveyed by Platts expected a rise of 1.1 million barrels in crude stocks.
After the data, September oil futures jumped to an intraday high of $71.35 a barrel on Globex. The contract was last up $1.20, or 1.7%, to $70.33 a barrel.
Natural-gas futures rebound from 7-year low [more]
 
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This is a test to see if the Market is following Oil and Gas prices or if Oil and Gas are following the Market!!
Inventories UP Oil and Gas UP = Let's see if the Market follows? Ya never know!!:cool:
See below:
 
nnuut said:
This is a test to see if the Market is following Oil and Gas prices or if Oil and Gas are following the Market!!
Inventories UP Oil and Gas UP = Let's see if the Market follows? Ya never know!!:cool:
See below:
Click to expand...
Well, there is a spike in the market at 11:30!!!:confused:
 
nnuut said:
Well, there is a spike in the market at 11:30!!!:confused:
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Market Update

12:00 pm : The major indices have successfully made their way into positive territory. The advance has actually taken the S&P 500 above the previous session's highs and several points above the 990 mark, which represented a sort of near-term level of resistance.
Nearly every major sector in the S&P 500 is now at its best level of the session. With that, the energy sector is up 1.9% and the health care sector is now down just 0.1%; they represent the best and worst performing sectors this session, respectively.DJ30 +53.43 NASDAQ +5.96 SP500 +5.15 NASDAQ Adv/Vol/Dec 1367/894 mln/1127 NYSE Adv/Vol/Dec 1555/376 mln/1315

http://finance.yahoo.com/marketupdate/overview?u
 
Stocks turn positive

A rally in oil issues gives Wall Street a boost as investors shrug off morning weakness to recharge the advance.

By Alexandra Twin, CNNMoney.com senior writer
Last Updated: August 19, 2009: 1:12 PM ET

NEW YORK (CNNMoney.com) -- Stocks rallied Wednesday afternoon, erasing morning losses, as investors looked past weakness in global markets and scooped up energy, technology and drugmaker shares.
The Dow Jones industrial average (INDU) gained 68 points or 0.7% with over 3 hours left in the session. The S&P 500 (SPX) index gained 7
 
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Why oil won't return to triple digits

Worries about hurricane season, the pace of economic recovery and a volatile stock market will keep prices in check.

By Julianne Pepitone, CNNMoney.com staff writer
Last Updated: August 19, 2009: 2:51 PM ET

NEW YORK (CNNMoney.com) -- Oil prices have surged nearly 50% from the start of the year, but don't expect a return to triple digits anytime soon -- worries about the pace of an economic recovery will continue to drive near-term volatility.
lately the effect is more muted as other factors gain prominence. [more]
http://money.cnn.com/2009/08/19/markets/oil_price_fluctuation/index.htm?postversion=2009081914
 
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Crude futures inch higher as Asian stocks rebound
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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) -- Crude-oil prices were inching closer to $73 a barrel in electronic trading Thursday on improved investor risk appetite as Chinese stocks staged a strong rebound to lead Asian markets higher.
Light, sweet crude-oil futures for September delivery were recently 27 cents higher at $72.69 a barrel on Globex, building on an overnight surge in New York. The front-month futures had risen as high as $72.78 a barrel earlier in the day.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B1CCD953C%2D6340%2D4A03%2D86DB%2D692C30DC0F0B%7D
 
Buster said:
I wish they would scratch that itch so it won't go any higher :rolleyes:


The almighties decided to drop gas another whole .02 last night..woooohooo!
Click to expand...

Headed down around here 2!:D Don't worry it WILL catch UP pretty quickly.:o
 
Oil prices dip on report of rising jobless claims

Oil prices fall after government says US jobless claims rose unexpectedly for second week

  • By Chris Kahn, AP Energy Writer
  • On Thursday August 20, 2009, 3:05 pm EDT
NEW YORK (AP) -- Energy prices fell Thursday after the government reported that jobs remain in short supply in the U.S. Natural gas prices dropped to new seven-year lows.

The Labor Department said the number of first-time unemployment claims rose unexpectedly for the second straight week. Less people heading off to work means the country will be consuming less gasoline.
Benchmark crude for October delivery gave up 92 cents to settle at $72.91 on the New York Mercantile Exchange. The September contract, which ends Thursday, advanced 12 cents to settle at $72.54.
Natural gas prices dropped nearly 5 percent on the same day the government reported that U.S. natural gas supplies continue to build well above normal rates for this time of year. [more]
http://finance.yahoo.com/news/Oil-p...07.html?x=0&sec=topStories&pos=7&asset=&ccode=
 
Oil higher this morning, heading for $74 a barrel!!:confused:

Crude oil, natural gas post declines as dollar gains
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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) -- Crude-oil futures slipped in electronic trading Friday as the U.S. dollar rebounded against most major currencies amid increased risk aversion, and as Japanese stocks tumbled to lead Asian markets lower.
Natural gas futures also extended their decline after finishing at a seven-year low in New York on concerns about rising supplies.
Benchmark Nymex crude futures for October delivery dropped 75 cents to $72.16 a barrel in early Asian afternoon trade on Globex, unable to hold on to early gains. The new front-month contract, which ended 92 cents lower on the New York Mercantile Exchange, had hit a high of $73.24 a barrel earlier in the day.
://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BDF361C57%2DD0A7%2D449A%2D8D6D%2D7D69ABD6195E%7D
 
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