Oil Slick Stuff

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11/25/2009 - Updated 7:08 AM ET
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Oil futures edge higher ahead of inventory data
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures edged higher on Wednesday, but caution dominated sentiment ahead of government data that's expected to show a rise in crude inventories.
Crude oil for January delivery gained 28 cents, or 0.4%, to $76.30 a barrel in electronic trading on Globex.
http://markets.usatoday.com/custom/...S&guid={00919F42-5248-4BFE-B101-148D6FF696C3}
 
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11/25/2009 - Updated 9:21 AM ET
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Crude edges higher ahead of EIA petroleum data; gas gains
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By Polya Lesova, MarketWatch & Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures edged higher Wednesday as the dollar weakened, but caution dominated sentiment in energy trading ahead of U.S. government data that are expected to show a rise in crude inventories last week.
Crude for January delivery gained 31 cents, or 0.4%, to $76.33 a barrel in electronic trading on Globex. The contract earlier rose to an intraday high of $76.60.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B00919F42%2D5248%2D4BFE%2DB101%2D148D6FF696C3%7D
 
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11/25/2009 - Updated 12:54 PM ET
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Oil gains as dollar falls, inventories rise less than expected Natural gas soars as energy futures move broadly higher
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By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil rose Wednesday, as a weaker dollar boosted dollar-denominated commodities prices and as government data showed U.S. crude inventories rose by an amount less than expected last week.
Also providing support for oil prices, economic reports showed consumer sentiment rose this month, and new-home sales advanced in October.
On the New York Mercantile Exchange, crude for January delivery gained $1.05, or 1.4%, to $77.07 a barrel.
http://markets.usatoday.com/custom/...S&guid={00919F42-5248-4BFE-B101-148D6FF696C3}
 
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11/25/2009 - Updated 3:22 PM ET
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Oil gains as dollar falls, inventories rise less than expected
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By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude oil rose Wednesday, as a weaker dollar boosted dollar-denominated commodities prices and as government data showed U.S. crude inventories increasing less than expected.
Also providing support for oil prices, economic reports showed consumer sentiment up this month and new-home sales advancing in October. Visit the Economy & Politics section.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B00919F42%2D5248%2D4BFE%2DB101%2D148D6FF696C3%7D
 
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Crude Oil down -$4.12 this morning, Biggest one Day drop I've ever seen.
Hold on to your HAT!!!:confused:
 
11/27/2009 - Updated 5:40 AM ET
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Oil futures tumble 5% on Dubai fears
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By Polya Lesova, MarketWatch & Myra P. Saefong, MarketWatch

FRANKFURT (MarketWatch) -- Crude futures dropped 5% on Friday, breaking below $73 a barrel, as investors spooked by Dubai's debt troubles sold assets perceived as risky, including commodities ranging from oil to metals.
Crude oil for January delivery fell to an intraday low of $72.39 a barrel in electronic trading on Globex.
The contract was last down $3.89, or 5%, to $74.07 a barrel.
http://markets.usatoday.com/custom/...S&guid={46678373-6F93-471D-9E42-FAB29EC8A54C}
 
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So here we are with two year treasuries down from Tuesday's record low yield of 0.802 percent to a mere .65 percent this morning. Also note that five year treasuries are at 2.01 percent, and three month treasuries yield zero percent.

This must be a symptom of the hyperinflation everyone seems to be predicting.... except in reverse.

Thanksgiving morning at about 5:00 AM (before any news reports were out on Dubai) I was trying to figure out what was going on with the futures and I penned in Yen Hits 14 Year High vs US Dollar; Nikkei Sinks ...
Dollar Sinks S&P Futures Down

​
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
 
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Oil slides to near $74 as Dubai woes roil markets

Oil price slides to near $74 in Europe as Dubai woes deepen economic concerns, dollar rises


Friday November 27, 2009

Oil prices dropped to near $74 a barrel Friday as Dubai's debt problems jolted world markets, raising concern about the prospects for global economic recovery.

By early afternoon in Europe, benchmark crude for January delivery was down $3.94 to $74.02 in electronic trading on the New York Mercantile Exchange. The contract rose $1.94 to settle at $77.96 on Wednesday.
http://finance.yahoo.com/news/Oil-s...24.html?x=0&sec=topStories&pos=1&asset=&ccode=
 
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11/27/2009 - Updated 1:19 PM ET
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Oil falls on Dubai fears, briefly hits 7-week low
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By Polya Lesova, MarketWatch & Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Crude futures dropped Friday, briefly tumbling 7% to their lowest level in seven weeks, as investors spooked by Dubai's debt troubles sold assets perceived as risky, including commodities ranging from oil to metals.
Dubai World, the city-state's largest corporate entity, on late Wednesday asked creditors for a six-month stay on repayment of $60 billion in debts. Global stocks tumbled after the news, while the U.S. dollar rose against most of its major rivals.
http://markets.usatoday.com/custom/...S&guid={46678373-6F93-471D-9E42-FAB29EC8A54C}
 
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Stopped into 7-11 for some smokes and the tanker truck was outside topping up the tanks..I jokingly mentioned to the Cashier that he needed to lower the price of gas again, because of today's lows and all the Dubai UAE having money problems (Like, is that possible?..I mean, this place has the biggest and the baddest buildings in the world, Indoor snow ski resort in the desert, air condition sand and air at their beaches...most everyone drives Mercedes or something exotic...WTF?)...Anyways the guy said they'll be lowering the gas tonight..So there is a day to day corrilation to the price of oil.
 
Buster said:
Stopped into 7-11 for some smokes and the tanker truck was outside topping up the tanks..I jokingly mentioned to the Cashier that he needed to lower the price of gas again, because of today's lows and all the Dubai UAE having money problems (Like, is that possible?..I mean, this place has the biggest and the baddest buildings in the world, Indoor snow ski resort in the desert, air condition sand and air at their beaches...most everyone drives Mercedes or something exotic...WTF?)...Anyways the guy said they'll be lowering the gas tonight..So there is a day to day corrilation to the price of oil.
Click to expand...
I guess some are slower than others? We will see tomorrow. oilrig.gif
 
It's the same thing it was for the last 2 weeks here, $2.46.
Might be that it depends when they refill their tanks, at least that's when they should modify their prices, and not before.:cool:
 
The Crooks are at it again!!! Every ship should be armed!!!!

In other news:
11/30/2009 - Updated 7:49 AM ET
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Oil futures trade near $76/brl after last session's decline
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures traded near $76 a barrel on Monday, as worries over Dubai World's debt problems eased somewhat, boosting sentiment in the financial markets.
Crude oil for January delivery edged up 3 cents to $76.08 a barrel in electronic trading on Globex.
Earlier, it rose to an intraday high of $76.85 a barrel.
More market news
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B47109331%2D8D26%2D44C8%2DB9D9%2D06FB7F3136B3%7D
 
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11/30/2009 - Updated 11:01 AM ET
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Oil rises as dollar weakens, reducing monthly losses
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By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Oil futures rose Monday as the U.S. dollar weakened after the release of upbeat economic data from the Chicago region, triggering a rise in the price of dollar-denominated commodities.
Limiting oil's gains were concerns about Dubai World's debt problems after a finance official said the government would not guarantee the conglomerate's debt. [more]
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B47109331%2D8D26%2D44C8%2DB9D9%2D06FB7F3136B3%7D
 
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