Oil Slick Stuff

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I think this blowheart is full of hot air...:rolleyes:

Analysis


Without question, the basic facts presented in this report are correct in every detail. Still, the worldwide financial crisis of 2008, now lessening somewhat in Europe and Asia, still grips the U.S.A. like a vice. Demand for refined products will remain low for at least a year and possibly longer. More importantly, when a fuel category suddenly becomes inexpensive and plentiful at the same time and if that substance can be adapted for new uses, the potential to change the primary structure of the energy market exists. Pipeline natural gas and liquefied natural gas (LNG) both meet that requirement. Both are being thrust forward as it becomes more and more evident that electrically powered vehicles will be expensive with lengthy refueling conditions. http://www.glgroup.com/News/$220-bb...-the-corner.-Game-is-changing-fast-43054.html



Gas down another .02 last night... $2.18 currently
 
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I think you're probably right Buster, not $200 for sure, but over $100 is a possibility next summer.:cool:
 
nnuut said:
I think you're probably right Buster, not $200 for sure, but over $100 is a possibility next summer.:cool:
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I bet not...Care to make a friendly wager?

At Labor Day Next year 2010..


I send you a BAG of Oklahoman Peanuts If you're right..you send me a BAG of Georgian Peanuts if I'm right..Game?:)
 
Buster said:
I bet not...Care to make a friendly wager?

At Labor Day Next year 2010..


I send you a BAG of Oklahoman Peanuts If you're right..you send me a BAG of Georgian Peanuts if I'm right..Game?:)
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Buster-

What do you think the price of oil will be Labor Day 2010?
 
James48843 said:
Buster-

What do you think the price of oil will be Labor Day 2010?
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That would be really tough to guess..But, based on how our economy depends on reasonably priced oil to make it work across the board..I'm guessing it will be between $75.00 and $85.00 a bbl.. + or - $10.00.
 
I wouldn't take a chance on losing that many GA peanuts:blink:, but will see what happens at the start of the DRIVING SEASON next year.:cool: Good peanuts are something you don't take that kind of chance with!:notrust:
 
Oil rallies ahead of OPEC meeting

Crude tops $69 a barrel. Analysts expect no change in cartel's output limits.

Last Updated: September 8, 2009: 7:07 AM ET

LONDON (Reuters) -- Oil prices rose above $69 a barrel Tuesday ahead of an OPEC meeting, which analysts said would see more target compliance rhetoric but no change in output limits.
NYMEX crude for October delivery stood at $69.39 a barrel, up $1.37 from Friday's close. There was no settlement price Monday because NYMEX was closed for Labor Day

http://money.cnn.com/2009/09/08/news/economy/oil.reut/index.htm?postversion=2009090807
 
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nnuut said:
I wouldn't take a chance on losing that many GA peanuts:blink:, but will see what happens at the start of the DRIVING SEASON next year.:cool: Good peanuts are something you don't take that kind of chance with!:notrust:
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You must really think a lot of your PEANUTS...:D
 
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09/08/2009 - Updated 11:18 AM ET
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Crude rallies as dollar falls, traders eye OPEC meeting
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By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures rallied more than 4% Tuesday to move back above $70 a barrel for the first time this month, as sharp weakness in the U.S. dollar boosted commodities, and as energy traders cast an eye ahead to the upcoming meeting of the OPEC oil cartel.
Light sweet crude for October delivery gained $3.11, or 4.6%, to $71.13 a barrel on the New York Mercantile Exchange, topping the $70 mark for the first time since Aug. 31. It rallied as high as $71.29 earlier.
http://markets.usatoday.com/custom/...S&guid={1F9F67A7-F1A0-4DBE-8427-3FC4C7249D3B}
 
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09/09/2009 - Updated 3:39 AM ET

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Oil futures gain on Globex ahead of OPEC summit
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By Myra P. Saefong, MarketWatch

TOKYO (MarketWatch) -- Crude-oil futures gained in electronic trading on Globex, trading solidly above $71 per barrel late Wednesday afternoon in Tokyo as energy traders looked ahead to the upcoming meeting of major oil producers in Vienna as well as weekly updates on petroleum supplies.
Light sweet crude for October delivery was up 32 cents at $71.32 per barrel on Globex, after tapping a high of $71.56.
The contract had gained $3.08, or 4.5%, to close at $71.10 a barrel Tuesday on the New York Mercantile Exchange, topping the $71 mark for the first time since Aug. 31.
http://markets.usatoday.com/custom/...S&guid={623CBEF3-85BA-4E98-B97D-0EBD0E9311B1}
 
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Oil Continues Rally, Awaits DOE Numbers Thursday
Rigzone Staff
|
Wednesday, September 09, 2009


The price of crude oil continued rising on the New York Mercantile Exchange Wednesday, extending the major jump in price achieved yesterday. Awaiting inventory numbers that will be released Thursday from the Department of Energy, the market remained steady, gaining only slightly to remain above $71 a barrel.
The Effects of Inventories [more]

http://www.rigzone.com/news/article.asp?a_id=80182&hmpn=1
 
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nnuut said:
Oil Continues Rally, Awaits DOE Numbers Thursday
Rigzone Staff
|
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Actually, OIL took a hell of a drop today in later trading..compared to what it was this Morning.:)

Maybe because of this?

OPEC leaves crude output targets unchanged
The 12-nation Organization of Petroleum Exporting Countries said "market fundamentals have remained weak," even though current oil prices at about $71 are roughly double their level since December, when the group announced a record 4.2 million barrel per day cut from September 2008 levels.
The meeting's closing communique said "whilst there are signs that economic recovery is under way, there remains great concern about the magnitude and pace of this recovery," especially in the West. The group noted uncomfortably high crude and refined product levels, which reflect that refiners are not eager to churn out additional product.

http://news.yahoo.com/s/ap/20090910/ap_on_bi_ge/eu_opec_meeting
 
09/10/2009 - Updated 9:54 AM ET

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Crude rises for fourth day on inventories report, IEA outlook
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By Moming

Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures rose Thursday for a fourth straight session, heading for their longest winning streak in nearly two months, as an industry group reported a big drop in U.S. crude inventories and as the International Energy Agency raised its forecast for global oil demand.
U.S. crude inventories declined 7.2 million barrels during the week ended Sept. 4, the American Petroleum Institute reported late Wednesday.
Separately, the IEA raised its demand forecasts for both 2009 and 2010 by nearly 500,000 barrels a day. Also on the radar, the Organization of Petroleum http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BAD6AB3D0%2DAA75%2D4DE3%2D95FA%2D555428C3872B%7D
 
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09/10/2009 - Updated 10:59 AM ET

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Crude rises for fourth day on inventories report, IEA outlook
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By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures rose Thursday for a fourth straight session, heading for their longest winning streak in nearly two months, as an industry group reported a big drop in U.S. crude inventories and as the International Energy Agency raised its forecast for global oil demand.
Energy traders awaited the Energy Information Administration's closely watched petroleum inventories report at 11 a.m. Eastern time, a day late this week due to the Labor Day holiday.
ustoday.com/html-story.asp?markets=COMMODITIES&guid=%7BAD6AB3D0%2DAA75%2D4DE3%2D95FA%2D555428C3872B%7D
 
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Crude off highs after data show demand weaknessNatural gas surges 8% as inventories rise less than expected
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By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures were off early highs Thursday afternoon, as news of a drop in demand in the U.S. in the past week offset higher demand forecasts from the International Energy Agency.
Natural gas for October delivery surged 8% after a report that showed inventories rose less than expected over the past week.
Crude remained on track for its fifth session in a row of gains, helped by the IEA raising demand forecasts for 2009 and 2010 by nearly 500,000 barrels a day. On Wednesday, the Organization of Petroleum Exporting Countries kept its production quota unchanged.
http://markets.usatoday.com/custom/...S&guid={AD6AB3D0-AA75-4DE3-95FA-555428C3872B}
 
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Crude futures edge lower after four sessions of gains
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Crude-oil futures edged lower Friday, as traders stepped to the sidelines after four straight higher sessions and shrugged off positive economic data from China.
Crude for October delivery was last down 25 cents at $72.02 a barrel in electronic trading on Globex.
"After four days of steady gains, we suspect prices may pull back modestly in Friday trading and perhaps into early next week," wrote Edward Meir, analyst at MF Global, in a note to clients.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BF2AC0C57%2D6554%2D4BD4%2DB54E%2D7607673EFD6C%7D
 
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Works For me!!

Gains have been minimal and losses the same..we are seeing a stabilized OIL economy now..hopefully for a while..;):)
 
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