Oil Slick Stuff

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Crude falls for second day on API inventories, stronger dollar

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By Polya Lesova, MarketWatch & Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures fell Wednesday for a second session, weighed down by a stronger dollar and by industry data showing that U.S. crude inventories rose last week.
Crude for October delivery dropped $1.20, or 1.7%, to $70.85 a barrel on the New York Mercantile Exchange. The contract fell more than 3% on Tuesday, pulling back markedly after hitting $75 a barrel for the first time in 10 months.
http://markets.usatoday.com/custom/...S&guid={70B1B632-93E9-4FE4-A157-99B9E571AB2A}
 
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Oil falls for second day on inventories data, stronger dollar
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By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures fell Wednesday for a second session, weighed down by a stronger dollar and by government data showing that U.S. crude inventories rose last week as imports jumped and that petroleum demand remained weak.
Crude for October delivery dropped $1.17, or 1.6%, to $70.88 a barrel on the New York Mercantile Exchange. The contract fell more than 3% on Tuesday, pulling back after hitting $75 a barrel for the first time in 10 months.
http://markets.usatoday.com/custom/...S&guid={70B1B632-93E9-4FE4-A157-99B9E571AB2A}
 
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Crude slips further as Asian stocks drop
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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) -- Crude-oil futures extended their fall in electronic trading Thursday, hurt by data showing an increase in U.S. inventories in the past week and a broad decline for Asian stocks.
Benchmark Nymex crude futures for October delivery fell 30 cents to $71.13 a barrel in Asian afternoon trade on Globex, after finding support near the $71 level.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B1A292333%2D71C1%2D40AF%2DA20C%2DCFED398F6C68%7D
 
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Crude futures extend slide; natural-gas prices down 7%
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By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Natural-gas futures tumbled 7% after the U.S. government reported another build in inventories, and crude futures also posted losses.
Natural gas for September delivery dropped 19.40 cents, or 6.7%, to $2.716 per million British thermal units in electronic trading on Globex.
The contract, which will expire at the end of trading Thursday, earlier hit an intraday low of $2.698 per million British thermal units.
http://markets.usatoday.com/custom/...S&guid={1A292333-71C1-40AF-A20C-CFED398F6C68}
 
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Crude futures rebound as stocks gain, dollar weakens

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By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures ended higher on Thursday, erasing losses after dollar weakness, a successful bond auction and gains on Wall Street boosted sentiment.
Crude oil for October delivery gained $1.06 at $72.49 a barrel on the New York Mercantile Exchange.
Earlier, the contract fell to an intraday low of $69.83 a barrel in electronic trading on Globex.
"This has been a dollar move today," said Phil Flynn, vice president at futures trading and research firm PFGBest Research, pointing to the sharp weakness in the U.S. dollar.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B1A292333%2D71C1%2D40AF%2DA20C%2DCFED398F6C68%7D
 
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It's all about making MONEY!!!:o


08/28/2009 - Updated 1:16 AM ET
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October crude-oil futures extend gains on Globex
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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) -- Crude-oil futures built on their U.S. gains in Friday's electronic trading, as major Asian equity markets -- other than those in China -- broadly advanced during the session.
Benchmark Nymex October futures rose 10 cents to $72.59 a barrel in midday Asian trade on Globex, after moving in a range between $72.55 and $73.03 a barrel during the session.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B1A62833C%2D24EA%2D453E%2D970C%2DF64B876CBD38%7D
 
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08/31/2009 - Updated 2:40 AM ET
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Crude futures decline on pullback in Asian stocks
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By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) -- Crude-oil prices declined in electronic trading Monday, tracking weak Asian equities as Chinese stocks tumbled on liquidity concerns and Japanese shares reversed sharp early gains on a stronger yen.
Light sweet crude-oil futures for October delivery slid 38 cents to $72.36 a barrel on Globex recently, unable to sustain gains after rising as high as $73.36 earlier in the session.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B15AD8139%2DF058%2D48B4%2D8937%2D28377F3B0566%7D&loc=interstitialskip
 
nnuut said:
08/31/2009 - Updated 2:40 AM ET
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Crude futures decline on pullback in Asian stocks
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Click to expand...
Nice to see OIL is sliding down ...But hate to see that the Markets follow suit all too much..or whichever way it is tied together.:confused:
 
Buster said:
Nice to see OIL is sliding down ...But hate to see that the Markets follow suit all too much..or whichever way it is tied together.:confused:
Click to expand...
Yes I hate that, it will change back to the way it was, but when?:confused:
 
I don't think the three legged race will be untied until investors are more sure on the economy. So I expect them to move in parallel for a while.:sick:
-----------------------------------------------
Why Similies don't work in translation, Example one:
U.S. company official: "Our thinking is parallel, isn't it?" Japanese Company official after translation, "Yes, hrmm. Our thinking is...parallel." U.S. company takes Japanese company officials out for big party.

Three weeks later, no orders. U.S. company offiical to Japanese company official, "What happened? I thought we agreed our thinking was parallel."
Japanese company official, "Yes. I looked up parallel, and the dictionary definition was 'two lines that never meet.'":toung:
 
Silverbird said:
I don't think the three legged race will be untied until investors are more sure on the economy. So I expect them to move in parallel for a while.:sick:
-----------------------------------------------
Why Similies don't work in translation, Example one:
U.S. company official: "Our thinking is parallel, isn't it?" Japanese Company official after translation, "Yes, hrmm. Our thinking is...parallel." U.S. company takes Japanese company officials out for big party.

Three weeks later, no orders. U.S. company offiical to Japanese company official, "What happened? I thought we agreed our thinking was parallel."
Japanese company official, "Yes. I looked up parallel, and the dictionary definition was 'two lines that never meet.'":toung:
Click to expand...
I'll be looking for that!! :confused::D
 
08/31/2009 - Updated 10:43 AM ET

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Oil tumbles 4% as global stocks fall, reducing monthly gains
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By Moming

Zhou, MarketWatch & V. Phani Kumar, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures tumbled more than 4% Monday to below $70 a barrel, reducing most of their monthly gains as declines in global stock markets dampened sentiment toward energy trading.
Asian equities fell overnight, a session marked by a 6.7% slump in Shanghai stocks tied to concerns over the pace of bank lending. China ranks as the world's No. 2 consumer of oil. U.S. stocks were also solidly lower to start the week.
http://markets.usatoday.com/custom/...S&guid={15AD8139-F058-48B4-8937-28377F3B0566}
 
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Oil settles below $70

Chinese stocks plummet, prompting global selloff and placing pressure on crude.

See all CNNMoney.com RSS FEEDS (close)

By Julianne Pepitone, CNNMoney.com staff reporter
Last Updated: August 31, 2009: 3:00 PM ET


Click on the chart to see other commodity prices.


NEW YORK (CNNMoney.com) -- Fears over the strength of China's markets dealt a blow to oil prices Monday, bruising optimism about economic recovery and sending crude almost 4% lower to below $70 a barrel.

U.S. crude for October settled $2.78 lower to $69.96 a barrel, having fallen as low as $69.13 earlier in the session.
U.S. stocks tumbled in late afternoon trading, extending a broader selloff across global markets.
"Both crude and stocks are gauging the economic upturn, and today's news threw cold water on it," said James Cordier, president at Liberty Trading Group.
The American market took cues from Chinese stocks, which sank 6.74% to a three-month low on worries about bank lending. China is the world's second-largest oil consumer, after the U.S.
Crude prices have tended to follow stocks recently, as investors look to the broader markets to try to gauge when fuel demand will rebound.
"We're seeing that earlier hopes on growth may have been overstated," Cordier said. "Investors are thinking: If their economy is not doing well, whose is?"
The Organization of the Petroleum Exporting Countries -- whose members produce about 40% of the world's crude -- will meet Sept. 9 in Vienna to discuss output targets. According to news reports, several OPEC officials have said the group is likely to leave levels unchanged.
Earlier this month, recovery hopes helped push crude to settle at a 10-month high near $75 a barrel, as U.S. stocks briefly hit 2009 records. But the failure to cross the $75 threshold dented confidence, and recent data have painted a mixed picture -- leaving investors to question when fuel demand will recover.
Cordier predicted crude will trade in a tight band between $60 and $65 in the fourth quarter http://money.cnn.com/2009/08/31/markets/oil/index.htm?postversion=2009083115
 
09/01/2009 - Updated 9:19 AM ET
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Oil rebounds as lower inventories seen

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By Moming Zhou, MarketWatch & Myra P. Saefong, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures inched higher Tuesday to reclaim the $70-a-barrel level, firming following a decline of nearly 4% in the previous session, as investors foresee another drop in weekly U.S. inventories.
Crude for October delivery traded at $70.20 a barrel, up 24 cents, or 0.3%, in early North American electronic trading. Trading remained volatile, with the benchmark contract as far down as $69.51 a barrel earlier.
http://markets.usatoday.com/custom/...-405F-A067-0401DB27C54F}&loc=interstitialskip
 
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Hey Norm,

What happened to NYH RBOB overnight?... went from the 190's to the 180's pretty quick... misprint? looks like the charts on the last page are all saying it dropped over 10cents overnight...

Thanks in advance...
 
Could be a pause in OIL prices..But as we have seen from all the postings our lovely friend Norm has kindly provided us here, with his daily if not hourly up dates..that OIL seems to be hanging around $70.00/bbl..which is okay in my book...In turn, Gasoline has also seemed to level out some too..no radical changes lately..so if this trend could maintain this status quo..the economy IMPO will eventully get a better hand hold and improve.:)



Oh, and thanks Norm for keeping us abreast..
 
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