Oil Slick Stuff

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$58.50 a barrel:o
Oil falls despite Saudi cut
Saudi Arabia cuts November crude sales by up to 8 percent in Japanese, Chinese and South Korean refineries.
October 23 2006: 6:01 AM EDT


SINGAPORE/LONDON (Reuters) -- Oil fell one percent on Monday despite confirmation leading exporter Saudi Arabia was curbing November supplies after an OPEC agreement to cut output.
Traders said it would take more to convince investors all in OPEC were as ready as Riyadh to forego oil revenues.

http://money.cnn.com/2006/10/23/markets/oil.reut/index.htm
 
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You tell em George!:D

Bush warns OPEC not to cut oil output too far

Tells CNBC recent oil price drop came as speculators reversed course


MSNBC staff and news service reports

President Bush told CNBC Monday that recent drop in oil prices was the result of speculators reversing course after contributing to the run-up in prices. And he warned OPEC producers that curbing production in an effort to keep oil prices high could backfire.
http://www.msnbc.msn.com/id/15390209/
 
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10/25/2006 - Updated 7:57 AM ET
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Crude higher ahead of weekly data on supplies
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</IMG>By Ciara Linnane, MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures rose early Wednesday ahead of data on supplies expected to show a third-weekly decline in distillates, which include heating oil, and a fourth week of rising crude inventories.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B814BF59B%2DCAD9%2D4232%2DA4BE%2DEEBF0EBBA7BB%7D
 
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$60.82 a barrel at 11:54.:mad:

Oil jumps back above $61 on supply drop
Prices gain nearly $2 as crude supplies show surprise decline, gasoline levels also off more than expected.
October 25 2006: 12:21 PM EDT


NEW YORK (CNNMoney.com) -- Oil jumped back above $61 a barrel Wednesday, gaining almost $2, after the government said supplies of crude posted a surprise decline last week.
U.S. light crude for December delivery rose $1.85 to $61.20 a barrel on the New York Mercantile Exchange. Oil had traded up slightly earlier in the morning.
http://money.cnn.com/2006/10/25/markets/oil_eia/index.htm?postversion=2006102511
 
$61.39 a barrel at 14:36.:mad:
http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=Dec&cmonth=Z&year=6&currPrev=C
$61.40 at close.
More Oil trouble, when it rains it poors!:mad:
Villagers shut down Shell oil facilities in Nigeria

POSTED: 1:27 p.m. EDT, October 25, 2006

LAGOS, Nigeria (AP) -- Angry villagers in Nigeria stormed and seized three Shell oil platforms Wednesday in the volatile Niger Delta, forcing oil production to be shut down at each one, a spokesman for the oil company said.
http://www.cnn.com/2006/WORLD/africa/10/25/nigeria.oil.ap/index.html
 
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I'm sure there is some of that and lots of others just out of our sight!:o
 
We're going the wrong way, again!:mad:
A little relief this morning though.:o

Oil rally loses steam
Crude prices turn lower, but float above $61 after surprising decline in U.S. crude, distillate inventories, and signs of commitment by OPEC to production cuts.
October 26 2006: 7:53 AM EDT


LONDON (Reuters) -- Oil eased, but held above $61 on Thursday after a surprise drop in U.S. crude stocks and mounting evidence of OPEC cuts triggered the biggest one-day gain in seven months the previous session.
http://money.cnn.com/2006/10/26/markets/oil.reut/index.htm?postversion=2006102607
 
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I have a hunch oil will fall from here through the election. Bush's XLE cronies have made a killing... and after Exxon announced $$$ earnings, it's pure Repub agenda to make oil cheaper to catch potential swing votes... of course any temporary/short term minor weakness will be used to build more investor earnings for the next 2 years.
 
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