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Price of OIL
- Thread starter biggdog1
- Start date
:s:s:s
James48843
Well-known member
imported post
The pump price has not yet caught up to the barrel price. Even though price by the barrel is five dollars over April's previous high, the gasoline pump price is still 10 cents BELOW where it was then. So you can expect a 20 cent increase in gasoline pump price, just based on where crude is now.
That DOESN'T take into account the possible disruption of supply if tropical storms hit the Gulf of Mexico, nor the increased pressure by China.
My humble prediction- gasoline higher by 20 cents to 50 cents in the next 90 days, followed by a shockwave slowdown in the economy.
The pump price has not yet caught up to the barrel price. Even though price by the barrel is five dollars over April's previous high, the gasoline pump price is still 10 cents BELOW where it was then. So you can expect a 20 cent increase in gasoline pump price, just based on where crude is now.
That DOESN'T take into account the possible disruption of supply if tropical storms hit the Gulf of Mexico, nor the increased pressure by China.
My humble prediction- gasoline higher by 20 cents to 50 cents in the next 90 days, followed by a shockwave slowdown in the economy.
D
Dave M
Guest
imported post
James, that is a picture of the Cuban "truck-onauts" in the Straits of Florida. Right? Ya gotta love it! It's a shame the CG sinks those things; they sunk an old Buick recently, hazard to navigation they said.
Every time the wind goes into the south down here, we expect a wave of "balseros", the people of the balsa.
Dave
James, that is a picture of the Cuban "truck-onauts" in the Straits of Florida. Right? Ya gotta love it! It's a shame the CG sinks those things; they sunk an old Buick recently, hazard to navigation they said.
Every time the wind goes into the south down here, we expect a wave of "balseros", the people of the balsa.
Dave
The_Technician
Active member
imported post
"That DOESN'T take into account the possible disruption of supply if tropical storms hit the Gulf of Mexico, nor the increased pressure by China. "
That's such a rip...its not the supply of oil, we have plenty being pumped ....who wouldn't be pumping at these high prices.........., its the production of gas.....so what does a little tropical storm have to do with that, maybe a day down for storm damage on a gas producer......
even if we lost production in the Gulf for a week, we shouldn't see a "supply problem" as far as oil goes.....maybe we would see a "profit" problem on the oil companies pumping oil....
what a farst one conjures to rack people up for a quick buck...for later on you have to drop it down to get back to reason!!!
http://money.cnn.com/2005/07/06/markets/markets_newyork/index.htm
:dude:
"That DOESN'T take into account the possible disruption of supply if tropical storms hit the Gulf of Mexico, nor the increased pressure by China. "
That's such a rip...its not the supply of oil, we have plenty being pumped ....who wouldn't be pumping at these high prices.........., its the production of gas.....so what does a little tropical storm have to do with that, maybe a day down for storm damage on a gas producer......
even if we lost production in the Gulf for a week, we shouldn't see a "supply problem" as far as oil goes.....maybe we would see a "profit" problem on the oil companies pumping oil....
what a farst one conjures to rack people up for a quick buck...for later on you have to drop it down to get back to reason!!!
http://money.cnn.com/2005/07/06/markets/markets_newyork/index.htm
:dude:
James48843
Well-known member
imported post
FIVE Refinery Outages Today
Wed Jul 6, 2005 01:47 PM ET
(Adds Valero, Motiva Norco, updates Chalmette restarting)
HOUSTON, July 6 (Reuters) - Operations at five oil refineries in Louisiana were affected early Wednesday by electric power outages caused by Tropical Storm Cindy, according to the companies.
Motiva Enterprises LLC said units at its 227,000-barrel-per-day refinery in Norco, Louisiana, were shut after a power outage that occurred shortly after midnight as Cindy passed through the area at near-hurricane strength.
An estimate of how long it would take to return the units to production was not immediately available. A Motiva spokesman did not say which units were down, but Gulf Coast traders said most of the plant was off line.
Valero Energy Corp. (VLO.N: Quote, Profile, Research) , a leading independent refiner, said its two Louisiana refineries were running at reduced production levels.
Crude oil throughput at the 85,000 bpd Krotz Springs refinery was cut by 15,000 bpd because of reduced crude pipeline shipments and storm-related ship delays, Valero said.
Crude throughput at the 190,000 bpd St. Charles refinery in Norco was down by 25,000 bpd, the company said. Also intake on the 100,000 bpd gasoline-producing fluidic catalytic cracking unit was cut by 30,000 bpd.
The St. Charles refinery reductions were attributed the electrical power outages.
Chalmette Refining LLC's 190,000 bpd refinery in Chalmette, Louisiana, began late Wednesday morning restarting units hit by a power outage. Spokeswoman Nora Scheller did not have information immediately available about which units were affected by the power outage.
Electrical power was restored at Murphy Oil's (MUR.N: Quote, Profile, Research) 120,000 bpd refinery in Meraux, Louisiana, on Wednesday morning and the company was working to return the refinery to full production, a company spokeswoman said.
An estimate of when the refinery would return to full production was not immediately available, said Mindy West, director of investor relations.
ConocoPhillips' (COP.N: Quote, Profile, Research) 247,000 bpd refinery in Belle Chasse, Louisiana, was operating normally Wednesday morning, a plant spokeswoman said.
Motiva is a 50-50 joint venture of Saudi Aramco, Saudi Arabia's state oil company, and Shell Oil Co., the U.S. unit of the Royal Dutch/Shell Group of Companies (RD.AS: Quote, Profile, Research) (SHEL.L: Quote, Profile, Research) .
Chalmette Refining is a joint venture between Exxon Mobil Corp. (XOM.N: Quote, Profile, Research) and Venezuela state oil company Petroleos de Venezuela S.A.
FIVE Refinery Outages Today
Wed Jul 6, 2005 01:47 PM ET
(Adds Valero, Motiva Norco, updates Chalmette restarting)
HOUSTON, July 6 (Reuters) - Operations at five oil refineries in Louisiana were affected early Wednesday by electric power outages caused by Tropical Storm Cindy, according to the companies.
Motiva Enterprises LLC said units at its 227,000-barrel-per-day refinery in Norco, Louisiana, were shut after a power outage that occurred shortly after midnight as Cindy passed through the area at near-hurricane strength.
An estimate of how long it would take to return the units to production was not immediately available. A Motiva spokesman did not say which units were down, but Gulf Coast traders said most of the plant was off line.
Valero Energy Corp. (VLO.N: Quote, Profile, Research) , a leading independent refiner, said its two Louisiana refineries were running at reduced production levels.
Crude oil throughput at the 85,000 bpd Krotz Springs refinery was cut by 15,000 bpd because of reduced crude pipeline shipments and storm-related ship delays, Valero said.
Crude throughput at the 190,000 bpd St. Charles refinery in Norco was down by 25,000 bpd, the company said. Also intake on the 100,000 bpd gasoline-producing fluidic catalytic cracking unit was cut by 30,000 bpd.
The St. Charles refinery reductions were attributed the electrical power outages.
Chalmette Refining LLC's 190,000 bpd refinery in Chalmette, Louisiana, began late Wednesday morning restarting units hit by a power outage. Spokeswoman Nora Scheller did not have information immediately available about which units were affected by the power outage.
Electrical power was restored at Murphy Oil's (MUR.N: Quote, Profile, Research) 120,000 bpd refinery in Meraux, Louisiana, on Wednesday morning and the company was working to return the refinery to full production, a company spokeswoman said.
An estimate of when the refinery would return to full production was not immediately available, said Mindy West, director of investor relations.
ConocoPhillips' (COP.N: Quote, Profile, Research) 247,000 bpd refinery in Belle Chasse, Louisiana, was operating normally Wednesday morning, a plant spokeswoman said.
Motiva is a 50-50 joint venture of Saudi Aramco, Saudi Arabia's state oil company, and Shell Oil Co., the U.S. unit of the Royal Dutch/Shell Group of Companies (RD.AS: Quote, Profile, Research) (SHEL.L: Quote, Profile, Research) .
Chalmette Refining is a joint venture between Exxon Mobil Corp. (XOM.N: Quote, Profile, Research) and Venezuela state oil company Petroleos de Venezuela S.A.
James48843
Well-known member
imported post
Price of refined gasoline jumping for next several days.
And stocks will tumble.
Watch.
Price of refined gasoline jumping for next several days.
And stocks will tumble.
Watch.
The_Technician
Active member
imported post
Yeah, and those gas refineries get power right after the hospitals......shouldn't be more than a day.....some even have their own power units.....
Take a look a week down the road.....Hurricane Dennis the Menace.....its coming right up my back yard.....Mobile Bay......uhhhhhh, like Ivan the Terrible wasn't enough.....I'm sure gas prices will go up again next week....market will certainly tank on their Voodoo news that oil will go up because of the Gulf production going down.....u know those rigs are designed to go threw those hurricanes.....darn, wonder if they know that?????:s
Yeah, and those gas refineries get power right after the hospitals......shouldn't be more than a day.....some even have their own power units.....
Take a look a week down the road.....Hurricane Dennis the Menace.....its coming right up my back yard.....Mobile Bay......uhhhhhh, like Ivan the Terrible wasn't enough.....I'm sure gas prices will go up again next week....market will certainly tank on their Voodoo news that oil will go up because of the Gulf production going down.....u know those rigs are designed to go threw those hurricanes.....darn, wonder if they know that?????:s
James48843
Well-known member
imported post
Gasoline prices jumped 10 cents a gallon yesterday at the wholesale level- which means a ten to twelve cent jump at the pumps is only a few days away- and that is BEFORE any of the London issues are taken into account.
If the market panics today, and oil jumps again, you will see 25 cents a gallon jump in the next week.
Tell me THAT isn't enough to spook the economy badly.
Hang on for the ride!
Gasoline prices jumped 10 cents a gallon yesterday at the wholesale level- which means a ten to twelve cent jump at the pumps is only a few days away- and that is BEFORE any of the London issues are taken into account.
If the market panics today, and oil jumps again, you will see 25 cents a gallon jump in the next week.
Tell me THAT isn't enough to spook the economy badly.
Hang on for the ride!
The_Technician
Active member
imported post
Went by my gas station on the way home.....gas went up 12 cents since this morning......that almost 6% today alone......
Fuel costs have jumped 80 or so cents in just over a year I believe.....thats over 50
%/year inflation rate for fuel......
Oil has jumped to $62 from $20-23, thats almost 300% in a little over a year.....
Guess we're just temporarily experiencing higher costs in fuel and food......what a farst!!!
Guess its tiime to just quit spending.....what do ya'll think......
:dude:
Went by my gas station on the way home.....gas went up 12 cents since this morning......that almost 6% today alone......
Fuel costs have jumped 80 or so cents in just over a year I believe.....thats over 50
%/year inflation rate for fuel......
Oil has jumped to $62 from $20-23, thats almost 300% in a little over a year.....
Guess we're just temporarily experiencing higher costs in fuel and food......what a farst!!!
Guess its tiime to just quit spending.....what do ya'll think......
:dude:
The_Technician
Active member
imported post
couldn't help but notice the plot comment on price change and inventories....what has happened since Aug 2004....oil price went up, inventories went up also...contrary...
[align=left]Actual
-2.3M barrels
class=econo-sectiontitleHighlights
Crude oil stocks fell 2.3 million barrels to 317.8 million in the July 22 week. A drawdown was expected due to hurricane disruptions in the week. Good news came from distillate stocks which rose 3.1 million to 125.8 million. The rise in distillates should ease worries over a winter pinch in home heating fuel. Given that an overall drawdown was expected, the data aren't likely to feed new gains in oil prices, which fell back in initial reaction to the results. [/align]
class=econo-sectiontitleTrends
class=econo-chartcaptionAs is evident from the chart, crude oil stocks can fluctuate dramatically over the year. When oil prices nearly reached $50 per barrel in August 2004, financial market players began to monitor crude oil inventories. It is not surprising to see sharp price hikes in crude oil when inventories are falling. Conversely, one would expect price declines when inventories are rising.
couldn't help but notice the plot comment on price change and inventories....what has happened since Aug 2004....oil price went up, inventories went up also...contrary...
[align=left]Actual
-2.3M barrels
class=econo-sectiontitleHighlights
Crude oil stocks fell 2.3 million barrels to 317.8 million in the July 22 week. A drawdown was expected due to hurricane disruptions in the week. Good news came from distillate stocks which rose 3.1 million to 125.8 million. The rise in distillates should ease worries over a winter pinch in home heating fuel. Given that an overall drawdown was expected, the data aren't likely to feed new gains in oil prices, which fell back in initial reaction to the results. [/align]
class=econo-sectiontitleTrends
class=econo-chartcaptionAs is evident from the chart, crude oil stocks can fluctuate dramatically over the year. When oil prices nearly reached $50 per barrel in August 2004, financial market players began to monitor crude oil inventories. It is not surprising to see sharp price hikes in crude oil when inventories are falling. Conversely, one would expect price declines when inventories are rising.
Wimpy
Member
imported post
Crude oil rises near US$60 a barrel on forecast of snowstorm in U.S. Northeast
"The bulls are back in the market with just a little bit of cold weather," said energy analyst Victor Shum of Purvin & Gertz in Singapore. Ken Hasegawa of Tokyo-based brokerage firm Himawari CX said the price of January Nymex crude may break through the $60.50 a barrel level.
http://www.cbc.ca/cp/business/051205/b120512.html
-------------------
Obviously, the oil bears are not polar bears. A little bit of cold weather and they turn tail and run
Crude oil rises near US$60 a barrel on forecast of snowstorm in U.S. Northeast
"The bulls are back in the market with just a little bit of cold weather," said energy analyst Victor Shum of Purvin & Gertz in Singapore. Ken Hasegawa of Tokyo-based brokerage firm Himawari CX said the price of January Nymex crude may break through the $60.50 a barrel level.
http://www.cbc.ca/cp/business/051205/b120512.html
-------------------
Obviously, the oil bears are not polar bears. A little bit of cold weather and they turn tail and run
The_Technician
Active member
imported post
There is always hope about the high costs of energy....energy is cheap, its only human intervention that cost so much....
see this one..... a real Jules Verne attempt of making energy...
http://news.yahoo.com/s/nm/20051214/sc_nm/energy_water_dc;_ylt=
AlkaMZsgvjpZTf.Gnc7QL4UhANEA;_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl
:^
There is always hope about the high costs of energy....energy is cheap, its only human intervention that cost so much....
see this one..... a real Jules Verne attempt of making energy...
http://news.yahoo.com/s/nm/20051214/sc_nm/energy_water_dc;_ylt=
AlkaMZsgvjpZTf.Gnc7QL4UhANEA;_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl
:^
imported post
http://www.nytimes.com/2005/12/13/business/13place.html
The link is an oil sector forecast for 2006.
http://www.nytimes.com/2005/12/13/business/13place.html
The link is an oil sector forecast for 2006.
