Oil Slick Stuff

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02/11/2010 - Updated 7:35 AM ET
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Oil futures rise after IEA raises its forecast for global demand
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures rose for a fourth session on Thursday after the International Energy Agency raised its forecast for global oil demand this year.
Crude oil for March delivery gained 58 cents, or 0.8%, to $75.10 a barrel in electronic trading on Globex.
Oil prices finished with gains during the past three sessions.
http://markets.usatoday.com/custom/...S&guid={957D746A-E79A-46E3-B9FC-2A34118A8778}
 
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A little off topic here but has anyone who has gas station credit cards seen a jump in interest rates? I called Conoco yesterday and they said that everyone with a card was notified in October of a purchases and cash advance increase to I believe 25.99% and 29.95% respectively.

I asked why the increase and they said all gas cards managed by Citibank were being increased due to the inability of banks to provide loans and that they don't offer cards with any other rates than what I am receiving.

thanks!
 
Scrappy said:
A little off topic here but has anyone who has gas station credit cards seen a jump in interest rates? I called Conoco yesterday and they said that everyone with a card was notified in October of a purchases and cash advance increase to I believe 25.99% and 29.95% respectively.

I asked why the increase and they said all gas cards managed by Citibank were being increased due to the inability of banks to provide loans and that they don't offer cards with any other rates than what I am receiving.

thanks!
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Fire them, to hell with your credit rating they're crooks! copy_of_dancinman4.gif
 
02/12/2010 - Updated 6:38 AM ET
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Crude prices drop below $74 a barrel on China move
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures fell 2% on Friday, as China's move to hike bank reserve requirements sparked concern over a slowdown in its growth and appetite for commodities.
Crude oil for March delivery dropped $1.56, or 2%, to $73.72 in electronic trading on Globex.
Earlier, the contract hit an intraday low of $73.56 a barrel.
http://markets.usatoday.com/custom/...S&guid={544DA832-B84E-44A8-A7AD-4EB565C2C3AE}
 
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02/12/2010 - Updated 9:38 AM ET
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Crude slumps below $74 a barrel on China moveTraders also await U.S. supply data on crude oil, natural gas
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By Polya Lesova, MarketWatch & Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Oil slumped 2% on Friday, as China's move to hike bank reserve requirements sparked concern over a slowdown in its growth and appetite for commodities. [more]
http://markets.usatoday.com/custom/...S&guid={544DA832-B84E-44A8-A7AD-4EB565C2C3AE}
 
What would major oil producing countries do if a viabal alternative for oil was actually developed. Think about it. Considering oil, for most of those nations account for a huge (I mean major) portion of their revenue.
You think our country and a few others provide big handouts now. There would be a few more countries in the welfare line.
 
WorkFE said:
What would major oil producing countries do if a viabal alternative for oil was actually developed. Think about it. Considering oil, for most of those nations account for a huge (I mean major) portion of their revenue.
You think our country and a few others provide big handouts now. There would be a few more countries in the welfare line.
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They would probably buy the idea and then hide it as they have done before, or at least were accused of it?:suspicious:
 
Besides fuel..Oil is used for so many other things..from roads (asphalt) to all forms of plastics, paints and even medicines...there will always be a need for oil.;)
 
Low oil prices: A tool to control Iran

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Iranian supporters of defeated reformist presidential candidate Mir Hossein Mousavi carry a large green flag through the crowd as they demonstrate in the streets on June 15, 2009 in Tehran, Iran.By Steve Hargreaves, staff writerFebruary 11, 2010: 11:38 AM ET

NEW YORK (CNNMoney.com) -- A desire to bring Iran to the bargaining table over its nuclear program could keep oil prices low worldwide for the next several months.
Some analysts say Saudi Arabia, which has taken millions of barrels a day off world oil markets in response to falling demand, may open the taps if oil prices get too high.

http://money.cnn.com/2010/02/11/news/international/iran/index.htm
 
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Market Update
11:00 am : Natural resource plays remain among the worst performers this session. As such, the materials sector is down 1.6%, while the energy sector is down 1.7%.
Energy stocks certainly haven't been helped by the latest weekly oil inventory data, which showed a larger-than-expected build of 2.42 million barrels. The announcement has caused oil prices to fall to fresh session lows, such that it is down 2.3% to $72.85 per barrel.
http://finance.yahoo.com/marketupdate/overview?u
 
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02/12/2010 - Updated 12:30 PM ET
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Crude nears $73 on China's ratio move, Europe weaknessBigger-than-expected buildup in U.S. supplies also weighs
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By Polya Lesova, MarketWatch & Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures slumped more than 2% Friday, as China's move to hike bank reserve requirements sparked concern over a prospective slowdown in its economic growth and appetite for commodities.
News of a larger-than-expected increase in U.S. inventories of crude and gasoline, along with a drop in U.S. consumer confidence in February, further weighed on futures.
http://markets.usatoday.com/custom/...S&guid={544DA832-B84E-44A8-A7AD-4EB565C2C3AE}
 
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02/12/2010 - Updated 4:01 PM ET
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Crude drops on China's ratio move, rising suppliesBigger-than-expected buildup reported in U.S. stockpiles
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By Polya Lesova, MarketWatch & Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures slumped 1.5% Friday, pulling back toward $74 a barrel, as China's move to hike bank reserve requirements sparked concern over a prospective slowdown in its economic growth and with it, its appetite for commodities.
News of a larger-than-expected increase in U.S. inventories of crude and gasoline, along with a drop in U.S. consumer confidence in February, further weighed on futures.[more]
http://markets.usatoday.com/custom/...S&guid={544DA832-B84E-44A8-A7AD-4EB565C2C3AE}
 
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