Oil Slick Stuff

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Who's GOUGING NOW?:nuts:
Gas stations: We're the gouging victims
By Parija Kavilanz @CNNMoney May 20, 2011: 4:17 PM ET
NEW YORK (CNNMoney) -- -- Think you're mad that gas prices are still high, even as oil prices are falling? Gas station owners in New York, Maryland and other states are furious about that, too, and they're blaming their suppliers for gouging them.
And some state attorneys general are taking notice.
http://money.cnn.com/2011/05/18/new...e_suppliers_of_gouging/index.htm?iid=HP_River
 
Too good to be true for too long..Gas bounced back up to $3.59 later today.:suspicious:
 
Oil falls below $98 amid stronger US dollar

Oil falls to below $98 in Europe as traders eye stronger US dollar



Pablo Gorondi, Associated Press, On Monday May 23, 2011, 7:43 am EDT

Oil prices fell below $98 a barrel Monday as the dollar strengthened, making crude more expensive for traders with other currencies, and sentiment was shaken by worries about Europe's debt crisis.
By early afternoon in Europe, benchmark crude for July delivery was down $2.47 to $97.63 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.17 to settle at $100.10 on Friday.
In London, Brent crude for July delivery was down $2.78 to $109.61 a barrel on the ICE Futures exchange.
The euro was down to $1.4018 from $1.4201 in late trading in New York on Friday -- briefly falling below $1.40 -- on concerns about European debt levels.
http://finance.yahoo.com/news/Oil-f...61.html?x=0&sec=topStories&pos=2&asset=&ccode=
 
Oil rises above $99, gas pump prices down again

Oil pushes above $99 per barrel on weaker dollar, bullish forecast from investment banks

Chris Kahn, AP Energy Writer, On Tuesday May 24, 2011, 11:29 am EDT

NEW YORK (AP) -- Oil rose to around $100 per barrel Tuesday after the dollar weakened and major investment banks predicted that crude prices will rise later this year.
Benchmark West Texas Intermediate for July delivery added $1.74 at $99.44 per barrel Tuesday morning on the New York Mercantile Exchange. In London, Brent crude rose $2.30 to $112.40 on the ICE Futures exchange.
Prices climbed early in the day as the dollar fell against other currencies. Oil, which is priced in dollars, tends to increase when the dollar falls and makes crude cheaper for investors holding foreign money. http://finance.yahoo.com/news/Oil-r...75.html?x=0&sec=topStories&pos=1&asset=&ccode=
 
It does happen!!:nuts:

Oil speculators charged with price manipulation

By Steve HargreavesMay 24, 2011: 4:18 PM ET

New YORK (CNNMoney) -- Federal regulators charged five oil speculators Tuesday with manipulating the price of crude and making a $50 million profit from the scheme.
The Commodity Futures Trading Commission alleges the speculators bought enormous amounts of actual crude oil for sale in Cushing, Okla, during the early months of 2008.
The speculators charged in the suit are Parnon Energy Inc. of California, Arcadia Petroleum of the United Kingdom, Swiss-based Arcadia Energy, James T. Dyer of Australia and Nicholas J. Wildgoose of California.
Click to expand...
http://money.cnn.com/2011/05/24/markets/oil_price_speculation/index.htm?iid=HP_River

WILDGOOSE?:laugh::laugh:
 
Market Update

10:35 am : The dollar index is showing modest strength this morning, but this isn't doing much to weaken the commodity complex.
Click to expand...
However, crude oil has been in the red all morning and was lower ahead of inventory data. Following the data, which showed a build of 616K versus consensus of a draw of 1700K, crude oil sold off to $99.00 and is now down 0.4% at $99.16/barrel.
Click to expand...
http://finance.yahoo.com/marketupdate/overview?u
 
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