Oil Slick Stuff

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I'm not familiar with all of the details, but it smells of stacking the deck. Reminds me of all of the liberal/Progressives Czars that have been appointed by Obama with the obvious ability to sidestep around the checks and balances provided and mandated by the Constitution. Some have opened their mouths too much, reveled their true colors and been replaced. Like I said I don't know all of the details, but once you've been snake bit you tend to walk a little more carefully.:notrust: Can you blame me, or them?:o
 
03/01/2010 - Updated 9:15 AM ET
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Crude futures rise above $80 a barrel
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By Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures on Monday rose to trade above $80 a barrel on rising equities futures and mildly positive U.S. economic data.
The government reported consumer spending rose 0.3% in January, further pointing toward economic recovery.
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You know, I get really tired of knee-jerk reactions and the big commodity traders just cashing in no matter which way the market turns.

Oil -- why exactly do we need weekly petro inventory numbers? Seems the monthlies are always more accurate. They just jack the weeklies to get better spreads and charge more fees.

And this copper news being related to Chile. Someone please explain to me how the physics of an earthquake affect open pit mining. I had three bauxite mines within 5 miles of where I grew up in N. GA. Heavy rains were always more of a problem in an open pit than an earthquake ever could be -- isaac newton's laws of gravity still apply, no?. I know some of Chile's mines aren't open pit but the majority of them are. I understand that some employees may not be able to come to work because their homes may have been affected but I doubt the big copper miners down there are truly affected on a gross productivity scale. I'm not trivializing that earthquake and the human suffering there, but I doubt big copper is affected, IMHO it's just a way for the traders to capitalize on a headline.
 
03/01/2010 - Updated 3:11 PM ET
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Crude futures turn lower after latest run at $80
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By Laura Mandaro, MarketWatch & Steve Gelsi, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures turned lower Monday as the dollar rose and some elements of the day's U.S. economic data rekindled concerns that global energy demand would not keep up with existing supplies.
Oil for April delivery fell 96 cents, or 1.2%, to $78.70 a barrel. The contract had risen earlier to $80.62 a barrel, according to FactSet Research. [more]
http://markets.usatoday.com/custom/...S&guid={14C5D31E-20EB-48D1-BE0A-233AC25A2704}
 
03/02/2010 - Updated 8:20 AM ET
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Crude futures back atop $79 on signs of economic uptick
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By Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures moved up on Tuesday amid more bullish economic data overseas as energy traders looked ahead to what weekly inventories data from the American Petroleum Institute might show.
On the New York Mercantile Exchange, light sweet crude futures for April delivery traded at $79.14 a barrel, up 44 cents.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B219D96F0%2D1C90%2D465F%2DA557%2D1C132906961F%7D
 
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03/02/2010 - Updated 11:03 AM ET
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Crude futures back atop $79 on signs of economic uptick
Weekly oil data expected to show crude inventories gained last week
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By Laura Mandaro, MarketWatch & Steve Gelsi, MarketWatch

SAN FRANCISCO (MarketWatch) -- Crude-oil futures rose Tuesday, getting a lift from the dollar's loss against some trading partners, and as central bank actions pointed to further strength in the global economy.
On the New York Mercantile Exchange, light sweet crude futures for April delivery rose $1.01 cents, or 1.3%, to $79.75 a barrel. [more]
http://markets.usatoday.com/custom/...S&guid={219D96F0-1C90-465F-A557-1C132906961F}
 
03/03/2010 - Updated 8:40 AM ET
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Oil futures rise above $80-barrel ahead of inventory data
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures rose on Wednesday after data showed the smallest contraction in U.S. private employment in two years and as traders awaited a report on petroleum inventories.
Crude oil for April delivery gained 52 cents, or 0.6%, to $80.20 a barrel in electronic trading on Globex.
http://markets.usatoday.com/custom/...S&guid={58059439-0B1E-4C13-AA72-831493526E37}
 
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03/03/2010 - Updated 10:15 AM ET
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Oil futures rise above $80-barrel ahead of inventory data
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By Laura Mandaro, MarketWatch & Polya Lesova, MarketWatch

SAN FRANCISCO (MarketWatch) -- Oil futures rose above $80 a barrel Wednesday, supported by a weaker dollar and data showing the smallest contraction in U.S. private employment in two years.
Crude oil for April delivery gained 61 cents, or 0.8%, to $80.32 a barrel on the New York Mercantile Exchange. Gasoline, natural-gas and heating-oil futures also rose.
http://markets.usatoday.com/custom/...S&guid={58059439-0B1E-4C13-AA72-831493526E37}
 
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Market Update

10:30 am : Weakness in the US Dollar Index in current trade is keeping most commodities near session highs.
April crude oil has risen rather steadily since hitting overnight lows of $79.44 per barrel. After trending higher, crude hit session highs of $80.42 per barrel about 30 minutes ago. Ahead of inventory data, crude was sitting just under those highs at $80.11 per barrel, up 0.5%. Following the data, which showed a build of 4034K versus consensus of a build of 1275K, crude quickly fell back near the flat line, now off $0.03 at $79.65 per barrel. [more]
http://finance.yahoo.com/marketupdate/overview?u
 
Frixxxx said:
Have you called Hugo yet????I think he needs $90 a barrel to break even on his socialism efforts.
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No I haven't called him, the poor fellow is having so many problems he really doesn't need me calling him cussing him out all the time!!:toung:
 
03/04/2010 - Updated 6:39 AM ET
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Crude futures edge lower ahead of data, hold above $80
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Crude-oil futures edged lower on Thursday but held above $80 a barrel, as traders awaited U.S. data that may provide insights on the outlook for the largest global economy and energy demand.
Crude for April delivery dropped 32 cents, or 0.4%, to $80.55 a barrel in electronic trading on Globex. The contract earlier hit an intraday low of $80.09 a barrel.
http://markets.usatoday.com/custom/...S&guid={15C56DD9-69EA-4B32-B95D-7EDD8D3217C1}
 
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U.S. Interior Dept to Release Offshore Drilling Blueprint
by Siobhan Hughes

Dow Jones Newswires

Wednesday, March 03, 2010




Interior Chief Ken Salazar​



WASHINGTON (Dow Jones), Mar. 3, 2010
The U.S. federal government aims to release this month two separate plans for drilling in U.S. coastal waters that would cover the years through mid-2017, U.S. Interior Secretary Ken Salazar said Wednesday.
Oil and gas companies have been pressing the Obama administration to issue the 2007-2012 blueprint, which was invalidated by a federal appeals court last year.
http://www.rigzone.com/news/article.asp?hpf=1&a_id=88763
 
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