Oil Slick Stuff

12/08/2009 - Updated 7:48 AM ET
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Oil futures fall below $74/brl ahead of inventory data
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures fell below $74 a barrel on Tuesday, as investors awaited data that's expected to show builds in U.S. crude and gasoline inventories.
Crude oil for January delivery dropped 70 cents, or 1%, to $73.23 a barrel in electronic trading on Globex.
http://markets.usatoday.com/custom/...S&guid={76FB0F0B-93FE-44EB-8D09-52177D042257}
 
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I won't be around from 10:30 to 12:30, they are throwing me a Retirement Luncheon today, I'm sure it will be a ROAST!! Later!:D
 
12/09/2009 - Updated 6:22 AM ET
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Oil futures gain nearly 2% as data shows falling inventories
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures rose nearly 2% on Wednesday, boosted by data showing that crude inventories declined much more than expected last week.
Crude oil for January delivery gained $1.22, or 1.7%, to $73.84 a barrel in electronic trading on Globex.
"With the API data showing U.S. crude stocks falling by 5.8 million barrels, the January contract is back above $73 per barrel in early trading," wrote analysts at Vienna-based JBC Energy GmbH in a note to clients.
http://markets.usatoday.com/custom/...S&guid={3777FB66-28EF-4D41-B4CF-BC0EB9C5E4A0}
 
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Hey Norm..

After you retire, are you gonna keep doing this Oil Price business for us here?..I'd hate to see this thread grow stagnant.
...I appreciate all the effort you put into it...THANKS!
 
I'm planning to leave my TSP money in TSP and draw Monthly distributions until I'm 70 1/2 years old. SSSOOOOOOOOO I'll still be here!!:D
You can't get rid of me that easily.:laugh:
 
12/09/2009 - Updated 12:33 PM ET
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Oil drops for sixth session after EIA petroleum
data
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By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures fell Wednesday for a sixth straight session, dropping to the lowest level in two months after government data showed inventories build-ups in gasoline and other petroleum products as demand remained weak.
U.S. gasoline inventories rose 2.2 million barrels in the week ended Dec. 5, the Energy Information Administration reported. Distillate stockpiles, which include heating oil and diesel, also rose 1.6 million barrels.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B3777FB66%2D28EF%2D4D41%2DB4CF%2DBC0EB9C5E4A0%7D
 
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Well one good thing is the Oil can't hide out there in the tundra, no trees no mountains, no gulleys, water is frozen, NO MAN's LAND. DIG IT UP and dispose of it. I could make a lot of MONEY working up there inspecting the pipelines, but MAN IT'S COLD and I really don't need the money that bad!!:cool:
 
Well one good thing is the Oil can't hide out there in the tundra, no trees no mountains, no gulleys, water is frozen, NO MAN's LAND. DIG IT UP and dispose of it. I could make a lot of MONEY working up there inspecting the pipelines, but MAN IT'S COLD and I really don't need the money that bad!!:cool:
Yer right..if there had to be a leak and spill, this was the best time of year...Clean up should be easy..

Gas dropped .01 to $2.32
 
12/10/2009 - Updated 10:21 AM ET
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Crude rises first day in seven as dollar falls after jobless data
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By Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures rose Thursday for the first session in seven, snapping their longest losing streak in five months as the U.S. dollar fell on a disappointing U.S. jobless report, helping boost dollar-denominated commodities prices.
The Labor Department reported that the number of people filing claims for state unemployment benefits rose last week for the first time in six weeks, pushing the greenback down against most of its major rivals. Oil also gained on speculation that the decline in the previous six days was too fast, analysts said.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B1FA75351%2D0CEB%2D4150%2DA8EA%2DD3FE8FFE3FAD%7D
 
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12/10/2009 - Updated 3:41 PM ET
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Natural gas surges after inventories; crude falls below $70
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By Moming Zhou, MarketWatch

NEW YORK (MarketWatch) - Natural gas futures surged more than 8% Thursday to their highest level in 11 months after government data showed U.S. inventories fell more than expected, signaling a recovery in demand as cold weather hit major gas-consuming regions. [more]
http://markets.usatoday.com/custom/...-4150-A8EA-D3FE8FFE3FAD}&loc=interstitialskip
 
12/11/2009 - Updated 7:44 AM ET
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Oil futures edge higher as IEA raises 2010 demand forecast
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures traded slightly higher on Friday, as the International Energy Agency raised its forecast for global oil demand next year.
Crude oil for January delivery gained 34 cents to $70.88 a barrel in electronic trading on Globex. Earlier, the contract rose to an intraday high of $71.24 a barrel.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B0E15E63A%2DAE67%2D43DA%2D95F5%2DCDD0591119F1%7D
 
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I hope this is the way it will be::D $50 -$55 is where I like it!!

Why cheap oil is here to stay

With oil supplies rising and the economy becoming ever more efficient, a super-spike in prices is looking increasingly unlikely.

By Steve Hargreaves, CNNMoney.com staff writer
December 3, 2009: 4:32 AM ET

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NEW YORK (CNNMoney.com) -- Because oil prices have always been directly related to the strength of the economy, a recovery might have seen headlines like these:
• The recession ends: Get ready for $100 oil
• The economy roars: $140 oil, is there an end in sight?
• Everyone in China buys a Cadillac: World tapped out
But a growing number of experts are saying that you can forget all that. For the next couple of years, they say, oil prices will remain well below $100 a barrel as the economy remains fragile and efficiency measures kick in.
http://money.cnn.com/2009/12/03/news/economy/cheap_oil/index.htm
 
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Oil dropped below $70 a barrel due to a spike in the dollar. Good for Oil/Gas bad for the Market, but I haven't given up on today, the market may make a come back this afternoon.:cool:
 
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