Oil Slick Stuff

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Buster said:
Are you talking this upward channel type trend?

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Good call
 
12/17/2009 - Updated 6:16 AM ET
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Oil futures fall below $72 a barrel as U.S. dollar rallies
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures fell below $72 a barrel on Thursday, as the U.S. dollar rose against its major rivals, pressuring dollar-denominated commodities.
Crude oil for January delivery dropped 75 cents, or 1%, to $71.91 a barrel in electronic trading on Globex.
Earlier, the contract fell to an intraday low of $71.65 a barrel.
http://markets.usatoday.com/custom/...S&guid={B5C4ACA2-1918-49FA-81F0-5AFA1F5476AE}
 
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nnuut said:
12/17/2009 - Updated 6:16 AM ET
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Oil futures fall below $72 a barrel as U.S. dollar rallies
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures fell below $72 a barrel on Thursday, as the U.S. dollar rose against its major rivals, pressuring dollar-denominated commodities.
Crude oil for January delivery dropped 75 cents, or 1%, to $71.91 a barrel in electronic trading on Globex.
Earlier, the contract fell to an intraday low of $71.65 a barrel.
http://markets.usatoday.com/custom/...S&guid={B5C4ACA2-1918-49FA-81F0-5AFA1F5476AE}
Click to expand...

WOW that was quick...Gas dropped .02 overnight to $2.27:rolleyes:
 
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Oil dips near $72 on stronger dollar

December 17, 2009: 10:17 AM ET




LONDON (Reuters) -- Oil fell toward $72 a barrel on Thursday as the dollar rose to a three-month high against the euro, outweighing a surprise drop in U.S. distillate stocks ahead of an expected cold snap.
The U.S. Federal Reserve left interest rates unchanged but its optimistic comments on the economy on Wednesday fueled a dollar rebound.



Click the chart to view other commodity prices.

http://money.cnn.com/2009/12/17/markets/oil.reut/index.htm
 
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Oil dips near $72 on stronger dollar

December 17, 2009: 10:17 AM ET

LONDON (Reuters) -- Oil fell toward $72 a barrel on Thursday as the dollar rose to a three-month high against the euro, outweighing a surprise drop in U.S. distillate stocks ahead of an expected cold snap.
The U.S. Federal Reserve left interest rates unchanged but its optimistic comments on the economy on Wednesday fueled a dollar rebound.

Click the chart to view other commodity prices.

http://money.cnn.com/2009/12/17/markets/oil.reut/index.htm
 
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We're down 2 more cents to $2.37 a gallon, trying to catch up with you!!
 
12/18/2009 - Updated 10:17 AM ET
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Oil tops $73 a barrel after report of Iranian incursion in Iraq :worried:
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By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude futures rose above $74 a barrel on Friday, after rumors of an Iranian incursion into an Iraqi oil field sparked concerns about oil supply and cold weather gripping much of the U.S. lifted the outlook for demand.
Crude oil for February delivery gained $1.72, or 2.4%, to $74.35 a barrel in electronic trading on Globex. The less actively traded January contract rose 20 cents to $74.32 a barrel.
http://markets.usatoday.com/custom/...-4B81-B987-AD33BB343B36}&loc=interstitialskip
 
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12/18/2009 - Updated 1:33 PM ET
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Oil above $74 a barrel on report of Iranian incursion in Iraq
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By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude oil rose above $74 a barrel on Friday, after reports of an Iranian incursion into an Iraqi oil field sparked concerns about oil supply while cold weather gripping much of the U.S. lifted the outlook for demand.
Crude oil for February delivery gained $1.72, or 2.4%, to $74.35 a barrel in electronic trading on Globex. The less-actively-traded January contract rose $1.47, or 2%, to $74.12 a barrel.
http://markets.usatoday.com/custom/...S&guid={29338E77-D80A-4B81-B987-AD33BB343B36}
 
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nnuut said:
12/18/2009 - Updated 1:33 PM ET
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Oil above $74 a barrel on report of Iranian incursion in Iraq
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By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude oil rose above $74 a barrel on Friday, after reports of an Iranian incursion into an Iraqi oil field sparked concerns about oil supply while cold weather gripping much of the U.S. lifted the outlook for demand.
Oil futures had finished virtually flat on Thursday. [more]
http://markets.usatoday.com/custom/...S&guid={29338E77-D80A-4B81-B987-AD33BB343B36}
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Falls right into line with what Birch posted below..:worried:

Birchtree said:
"U.S. Takes a Significant Step Towards War with Iran."

http://www.marketoracle.co.uk/Article15873.html
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BP oil refinery workers in Texas win damages of $100m


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BP's Texas City refinery has a history of accidents

A US jury has awarded $100m (£62m) in damages to 10 workers who said a leak at a BP oil refinery in Texas in 2007 had made them sick. The source of the leak at the refinery south of Houston was never identified and environmental agencies reported no evidence linking it to the refinery.
BP concluded that any toxic substance had come from outside.
But lawyers for the workers argued the odour had come from a sulphur recovery unit at the plant.
They described BP as a serial polluter.
http://news.bbc.co.uk/2/hi/americas/8421998.stm
 
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I think there can be no recovery without cheap Oil/Gas! It seems we may get that next year, but the way the Market is reacting to the higher DOLLAR and cheaper energy is to inversely bounce to better conditions, which is counter to historical trends. Hopefully this will turn around and the Market will react positively to cheaper energy which should stimulate the economy. WHAT A MESS!!:o

OPEC Nations Brace for 2010 Price Shift
by Spencer Swartz

The Wall Street Journal

Friday, December 18, 2009



OPEC Headquarters​

(THE WALL STREET JOURNAL via Dow Jones), Dec. 18, 2009
http://www.rigzone.com/news/article.asp?hpf=1&a_id=84362
 
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12/21/2009 - Updated 9:39 AM ET
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Crude rises ahead of OPEC meeting, economic data
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By Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures edged higher Monday, receiving a lift amid economic optimism ahead of key U.S. data this week, and as investors await Tuesday's Organization of Petroleum Exporting Countries meeting where the group is expected to leave its production quotas unchanged.
Crude for January delivery, the front-month contract that expires at the end of Monday's trading, was last up 1% at $74.10 a barrel. The more actively traded February contract rose 0.9% to $75.10. [more]
http://markets.usatoday.com/custom/...S&guid={A745705B-B8A9-4024-9440-75B45938A515}
 
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12/22/2009 - Updated 6:04 AM ET
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Oil edges down as OPEC reportedly keeps output steady Investors are awaiting data that's expected to show a decline in crude supplies
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures fell on Tuesday, as members of the Organization of the Petroleum Exporting Countries reportedly agreed to leave output quotas unchanged at their meeting in Angola.
Crude oil for February delivery, the new front-month contract, dropped 31 cents, or 0.4%, to $73.41 a barrel in electronic trading on Globex.
http://markets.usatoday.com/custom/...-4ED1-82F6-A1250E9C1499}&loc=interstitialskip
 
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I would guess the inventories report Wednesday will be GREATER than expected? Down we go!!! Whatch and see how the Markets respond.:)


As US Crude-Oil Reserve Fills, Questions Abound
by David Bird
Dow Jones Newswires
Tuesday, December 22, 2009

NEW YORK (Dow Jones), Dec. 22, 2009
In coming days, a 500,000-barrel delivery of crude oil will push the U.S. government's emergency stockpile to capacity. What happens to the Strategic Petroleum Reserve beyond that is far from clear.
http://www.rigzone.com/news/article.asp?a_id=84511&hmpn=1
 
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