Oil Slick Stuff

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Minnow said:
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...
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Data is OK, just updated;
09/01/09
09:11........$1.8161....+.0062
09:44........$1.8370....+.0271
Why is this happening? Probably like the weather, a frog can fart in Peru and change the weather, now Oil and Gas are on the Positive which is better for stocks. Will it last out the day, I don't think so but you never know?:cool:
Oh they trade Oil and gas over night, it doesn't stop at the settle, click on the RBOB link and you will probably see the numbers.
 
Buster said:
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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Thanks Buster, Normally Oil/Gas start dropping in the fall, I don't think it's that time but might have something to do with the action? DEMAND and AVAILABILITY!:cool: gusher.gif
 
nnuut said:
Data is OK, just updated;
09/01/09
09:11........$1.8161....+.0062
09:44........$1.8370....+.0271
Why is this happening? Probably like the weather, a frog can fart in Peru and change the weather, now Oil and Gas are on the Positive which is better for stocks. Will it last out the day, I don't think so but you never know?:cool:
Oh they trade Oil and gas over night, it doesn't stop at the settle, click on the RBOB link and you will probably see the numbers.
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I think I was looking for some event that happened overnight in commodities or currencies or whatever... yesterday's settlement was at $1.9859 and I open up the Oil Slick Stuff (better than the morning paper if you ask me:)) and see that RBOB is at $1.8161. That's almost a $.17 drop! I know that it's volatile but usually you can find the reason for the drop... I can't see anything that happened but I'm slower than the average market watcher, ya know.

I was thinking that we might be trading on a new contract and that that contract had been priced lower in the previous month's trading, maybe? Just looking for a little education.
 
Minnow said:
I think I was looking for some event that happened overnight in commodities or currencies or whatever... yesterday's settlement was at $1.9859 and I open up the Oil Slick Stuff (better than the morning paper if you ask me:)) and see that RBOB is at $1.8161. That's almost a $.17 drop! I know that it's volatile but usually you can find the reason for the drop... I can't see anything that happened but I'm slower than the average market watcher, ya know.

I was thinking that we might be trading on a new contract and that that contract had been priced lower in the previous month's trading, maybe? Just looking for a little education.
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I could use some education myself, but this thing goes with the wind sometimes and against it the next. Prices are manipulated and are effected by sentiment as well.:cool::confused:
 
Markets down, dollar UP, Oil/Gas down! What is following what? Normally Dollar goes up Price of energy goes down but Oil/Gas have bee following the Market lately, or is it the other way around? Must be a DOUBLE WHAMMY? Financials are taking the big hit and driving Market price. Never mind now I'm confusing myself!!!:blink:
 
09/01/2009 - Updated 12:20 PM ET

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Oil turns lower on stocks, stronger dollar Selling pressure resumes on natural-gas contract
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By Moming Zhou,

MarketWatch & Myra P. Saefong, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures fell nearly 2% and retreated below $69 a barrel Tuesday as a downturn for stocks on Wall Street dampened energy-sector sentiment and as a stronger dollar pressured dollar-denominated oil prices.
Erasing earlier gains, crude for October delivery fell $1.32, or 1.9%, to $68.64 a barrel on the New York Mercantile Exchange.
Trading remained volatile, with the benchmark contract having touched $71.37 a barrel earlier. Crude hit $75 a barrel last week for the first time in 10 months.
http://markets.usatoday.com/custom/...S&guid={4A26BF83-A84C-405F-A067-0401DB27C54F}
 
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nnuut said:
Markets down, dollar UP, Oil/Gas down! What is following what? Normally Dollar goes up Price of energy goes down but Oil/Gas have bee following the Market lately, or is it the other way around? Must be a DOUBLE WHAMMY? Financials are taking the big hit and driving Market price. Never mind now I'm confusing myself!!!:blink:
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I personally think it's a lot of profit taking going on before the weekend holiday..;)
 
Is this needed? YES!!!:nuts:

Oil speculators on the run

Government may clamp down on banks, funds and others that don't actually use crude. But will new rules bring down prices?

By Steve Hargreaves, CNNMoney.com staff writer
Last Updated: September 2, 2009: 4:19 AM ET

chart_oil_spec.03.gif




NEW YORK (CNNMoney.com) -- Last year Andrew Hall, the head of Citigroup's energy trading unit, made over $100 million, making him one of the highest paid people on Wall Street.
 
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nnuut said:
Is this needed? YES!!!:nuts:

Oil speculators on the run

Government may clamp down on banks, funds and others that don't actually use crude. But will new rules bring down prices?
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Really? I'm not so sure.....Another government control?

We:
- barely drill in our country
- Bow to the whims of other nations and oraganizations (OPEC)
- Don't subsidize alternate fuels the way we should

And our government can know what is best in this circumstance???

Not seeing it Norm:suspicious:
 
Frixxxx said:
Really? I'm not so sure.....Another government control?

We:
- barely drill in our country
- Bow to the whims of other nations and oraganizations (OPEC)
- Don't subsidize alternate fuels the way we should

And our government can know what is best in this circumstance???

Not seeing it Norm:suspicious:
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These Traders are artificially driving up the Price of Oil/Gas to make profits and it's not just here in the USA it's world wide. That is what happened last year when Oil reached $140 a barrel for no logical reason. I think it should be stopped as with the other computer generated schemes for sucking the Sweet money from the markets. CROOKS!! copsblow.gif copy_of_dancinman4.gif
 
Just seen on CNN (out sick today) that BP has hit a HUGE GUSHER in the Gulf of Mexico that can develop into something really big in the near future!!! OH YEAH DRIVE THAT PRICE DOWN!!!:D

Here it is on rigzone.com:
BP Makes Giant Deepwater Discovery with Tiber
BP

Wednesday, September 02, 2009







BP has made a giant oil discovery at its Tiber Prospect in the deepwater Gulf of Mexico.
The well, located in Keathley Canyon block 102, approximately 250 miles (400 kilometers) southeast of Houston, is in 4,132 feet (1,259 meters) of water. The Tiber well, drilled by Transocean's Deepwater Horizon semisub, was drilled to a total depth of approximately 35,055 feet (10,685 meters) making it one of the deepest wells ever drilled by the oil and gas industry. The well found oil in multiple Lower Tertiary reservoirs. Appraisal will be required to determine the size and commerciality of the discovery.
http://www.rigzone.com/news/article.asp?a_id=79913&hmpn=1
 
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09/02/2009 - Updated 10:15 AM ET

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Oil falls for third session after jobs data
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By Moming Zhou, MarketWatch & Myra P. Saefong, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures fell Wednesday for a third straight session, after a report showed the U.S. private sector recorded a bigger-than-expected jobs loss in August and as U.S. stocks extended their declines to a fourth session.
Companies in the U.S. private sector shed 298,000 jobs last month, according to the ADP employment report, more than the consensus of 250,000.
Helping limit crude's losses, industry group American Petroleum Institute reported late Tuesday that U.S. crude stockpiles fell by 3.2 million barrels for the week ended Aug. 28. Analysts surveyed by Platts expected a decline of 1.9 million barrels.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B2805706C%2D89D4%2D4C4A%2D8A36%2D5F4D96428994%7D&loc=interstitialskip
 
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Not as low as expected?

Market Update

10:35 am : December crude oil traded above $68 overnight, but fell to a session low of $67.21 per barrel at the open of pit trading. Crude was trading 0.4% lower at $67.75 per barrel ahead of inventory data this morning. Following the data, which showed a draw of 372K vs. consensus of a draw of 900K, crude remained below the $68 level, currently 0.5% lower at $67.69 per barrel.[more]
http://finance.yahoo.com/marketupdate/overview?u
 
nnuut said:
These Traders are artificially driving up the Price of Oil/Gas to make profits and it's not just here in the USA it's world wide. That is what happened last year when Oil reached $140 a barrel for no logical reason. I think it should be stopped as with the other computer generated schemes for sucking the Sweet money from the markets. CROOKS!! View attachment 6747 View attachment 6746
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Dude, I agree it is crooks, but too many people speculated with them......most of the people that jumped in early reaped the rewards of those more ignorant of the process.

Can we agree that there were many people who jumped into that fray with little or no knowledge, and now they are a little less ignorant?

I think oil was "over-speculated" not manipulated.

BUT I LOVE THE WORK YOU DO ON THIS THREAD....I HAVE NOTHING BUT RESPECT FOR YOU!!!!
 
Frixxxx said:
Dude, I agree it is crooks, but too many people speculated with them......most of the people that jumped in early reaped the rewards of those more ignorant of the process.

Can we agree that there were many people who jumped into that fray with little or no knowledge, and now they are a little less ignorant?

I think oil was "over-speculated" not manipulated.

BUT I LOVE THE WORK YOU DO ON THIS THREAD....I HAVE NOTHING BUT RESPECT FOR YOU!!!!
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Thanks, I think you are as sharp as they come. I believe that the normal everyday investor was used by the BIG BOYS to feed the market and drive energy prices out of sight while they booked the profits and sold them out. They do this every day in the markets, look closely!!:cool:
 
nnuut said:
Thanks, I think you are as sharp as they come. I believe that the normal everyday investor was used by the BIG BOYS to feed the market and drive energy prices out of sight while they booked the profits and sold them out. They do this every day in the markets, look closely!!:cool:
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Agreed, that's why I'm here (TSPTALK)....all these smarty pants giving out "free" knowledge.....:D
 
London oil major BP announced a major discovery in the Gulf of Mexico that may contain more than 3 billion barrels of crude oil, making it among the biggest finds ever in the region.

The company did not estimate how soon it could begin producing oil from Tiber, which is 62 percent owned by BP, 20 percent owned by Petrobras and 18 percent owned by Houston’s ConocoPhillips.

http://www.chron.com/disp/story.mpl/hotstories/6598536.html
 
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