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Oil prices
zhuge_liang Supreme	15-Jun-2008 23:25 zhuge_liang About Contact Quote this Post!
x 1 x 0 Alert Admin	The rally that drove oil to a record US$139.12 a barrel last week surpassed the gains in Internet stocks that preceded the dot-com crash in '00. Crude rose 697% since trading at US$17.45 a barrel on the New York Mercantile Exchange in Nov '01, and reached 28 record highs this year. The last time a similar pattern was seen in equities was 8 years ago, when Internet-related stocks sent the Nasdaq up 640% to its highest level ever, according to data compiled by Bloomberg and Bespoke Investment Group LLC. The Nasdaq tumbled 78% from its Mar '00 peak, as investors concluded that prices weren't supported by profits at companies such as Broadcom and Amazon.com. Billionaire investor George Soros and Stephen Schork, president of Schork Group Inc., say oil is ready to tumble because prices aren't justified by supply and demand. "There's nothing different between this mania, the dot-com mania, the real estate mania, the Dow Jones mania of the 1920s, the South Sea bubble and the Dutch tulip-bulb mania,'' said Schork, whose Villanova, Pennsylvania-based firm advises OPEC, Wall Street firms and oil companies on the outlook for energy prices. "History repeats itself over and over and over again." Oil climbed on growing demand from China and India, whose economies expanded the past 7 years at an average annual pace of 10.2% and 7.3%, respectively. Supply disruptions in Nigeria and Iraq and declining production in Russia also boosted prices. Investors added about US$250 billion to commodity index trading strategies since 2003, according to Mike Masters, president and founder of Masters Capital Management, a St. Croix- based hedge fund. Money is flowing into oil as the global economy slows. The worst US housing slump since the 1930s and more than US$390 billion of writedowns and credit losses at banks will slow global growth to 2.7% this year from 3.7% in 2007, according to the World Bank. The US economy's expansion may slow to 1.3% this year from 2.2% in 2007, dragging down oil demand by 240,000 barrels a day, according to economists surveyed by Bloomberg and Energy Department data. In China, the 2nd- biggest fuel consumer, economic growth may fall to 10.1% from 11.9%, the Bloomberg survey shows. "I don't know if you can classify it as a bubble or not," said Masters. "But there is no question that investor demand is having an effect on price. Very little of it has to do with physical supply and demand of crude oil." Masters testified at a Senate hearing in May on the role of speculators in commodities markets. Gains in oil are the result of a "bubble" caused by speculation from index funds and a tight balance between supply and demand, Soros said in testimony before the Senate Committee on Commerce, Science and Transportation on June 3. "The bubble is superimposed on an upward trend in oil prices that has a strong foundation in reality," he said. Commodity index traders account for about 40% of the open interest, or outstanding contracts, in the 12 agricultural commodities for which the Commodity Futures Trading Commission reports data, according to Chicago-based Bianco Research LLC. Crude futures more than doubled in the past year and surged US$10.75 a barrel on June 6, the biggest rise on record and the largest in percentage terms since June 1996. Robert Aliber, a professor of economics emeritus at the University of Chicago Graduate School of Business, says the risk of a "correction" has increased because prices climbed so fast. "You've got speculation in a lot of commodities and that seems to be driving up the price," Aliber, co-author of "Manias, Panics, and Crashes: A History of Financial Crises," said in an interview from Hanover, New Hampshire. "Movements are dominated by momentum players who predict price changes from Wed to Fri on the basis of the price change from Mon to Wed." Burton Malkiel, a Princeton University economics professor and author of "A Random Walk Down Wall Street," says the rise in oil may be justified because supplies are limited and demand in developing economies is increasing. That distinguishes oil from the market for technology stocks in the 1990s, where supply "could be expanded infinitely: and new stock issues helped push down prices, he said. "The picture is fundamentally different than the Internet picture," Malkiel said in an interview from Princeton, New Jersey. "I'm not saying we're running out of oil, but we're clearly supply-constrained. Five and 10 years from now, the price is going to be higher than US$134." The Nasdaq reached a record intraday high of 5,132.52 on Mar 10, 2000, in a rally that started in Jun 1994. Investors plowed US$199 billion into mutual funds dedicated to US equities during the 10-month stretch leading up to the peak, including US$36.5 billion in Feb of that year, data from TrimTabs Investment Research in Sausalito, California show. The flood helped boost the PER on shares of Irvine, California-based Broadcom to 617 in Mar '00, according to Bloomberg data. Shares of the semiconductor maker, which surged 351% in 1999, lost 89% over the next 3 years. "You can look at the chart and say oil's taking on the characteristics of a bubble," said James Bianco, the president of Bianco Research. Still, "it may have a long way to go before it eventually peaks," he said.
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giantlow Master	24-Jan-2007 08:35 giantlow About Contact Quote this Post!
x 0 x 0 Alert Admin	Oil Trades Near $55 After Rising on U.S. Plan to Boost Reserves By Gavin Evans Jan. 24 (Bloomberg) -- Crude oil was little changed near $55 a barrel in New York after rising the most in 16 months yesterday on plans by the U.S. to double the nation's Strategic Petroleum Reserve. Oil jumped 4.7 percent yesterday after Energy Secretary Samuel Bodman said the government will start buying 100,000 barrels a day this spring as part of a plan to increase the capacity of the strategic reserve to 1.5 billion barrels during the next 20 years. Purchases that adversely affect the market will be avoided, Bodman said. ``It's still going to take barrels out of the market,'' said Chris Mennis, owner of oil broker New Wave Energy LLC in Aptos, California. ``We've got real winter weather now, so maybe we've got a couple of reasons'' for the market to turn higher, he said. Crude oil for March delivery was at $55.05 a barrel, down 2 cents in after-hours electronic trading on the New York Mercantile Exchange at 7:45 a.m. in Singapore. The contract rose $2.46 to $55.04 yesterday, the highest close since Jan. 9 and the biggest one-day gain since Sept. 19, 2005. Prices jumped $1.35 in 15 minutes after Bodman's announcement. ``I think this is overdone,'' said Mark Waggoner, president of Excel Futures Inc. in Huntington Beach, California. ``They're not even talking about pulling oil into the reserves for a couple of months yet.'' The U.S. reserve and similar stockpiles in Europe and Asia are held to make up for disruptions of global oil supplies. Reserves Cover The U.S. government holds 691 million barrels, roughly equivalent to 55 days of imports, Bodman said. The expanded reserve, stored in salt caverns along the U.S. Gulf Coast, will cater for rising energy demand and will hold the equivalent of about 97 days of U.S. oil imports, he said. U.S. crude oil imports averaged 10.1 million barrels a day in 2006, up 0.7 percent from a year earlier, according to the department. They have gained 23 percent the past five years. ``Taking 100,000 barrels a day will take some oil off the market,'' Robert Ebel, chairman of the energy program at the Center for Strategic and International Studies in Washington, said yesterday. ``But keep in mind the world produces about 85 million barrels day.'' New York oil futures have fallen 30 percent from last July's $78.40 record. The just-expired February contract reached a 19- month low of $49.90 on Jan. 18 as mild weather in the U.S. Northeast cut heating demand and helped increase the nation's fuel stockpiles for five straight weeks. Weather, Stockpiles Temperatures in the Northeast, the country's biggest heating oil consuming region, may be below normal through Feb. 6, the National Weather Service said yesterday. ``In the short term we're still headed lower'' as U.S. oil stockpiles rise, Excel's Waggoner said. ``A lot of this is very dependent on how cold we stay in the eastern seaboard. If we stay cold, like some of the people are now predicting, for any extended period of time, it is going to drive prices higher significantly.'' The Energy Department will publish its weekly inventory report at 10:30 a.m. in Washington. It will probably show U.S. commercial oil stockpiles rose 1.3 million barrels last week, their second gain, based on the median estimate from a Bloomberg News survey of 15 analysts. Inventories held 321.5 million barrels on Jan. 12, 9.3 percent more than the five-year average for the period. U.S. gasoline stockpiles probably gained 1.5 million barrels last week, the sixth straight gain, according to the analyst survey. Inventories held 216.8 million on Jan. 12, 1.8 percent more than the five-year average, the Energy Department said last week. U.S. distillate supplies, including heating oil, probably fell by 250,000 barrels, the first decline in six weeks. Stockpiles held 141.9 million barrels a week earlier, 7.2 percent more than the five-year average. To contact the reporter on this story: Gavin Evans in Wellington at gavinevans@bloomberg.net Last Updated: January 23, 2007 18:50 EST
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zhuge_liang Supreme	19-Jan-2007 12:37 zhuge_liang About Contact Quote this Post!
x 0 x 0 Alert Admin	Oil prices fell 14% in the past month as mild weather prevailed in the Northeast, which consumes most of the heating oil the U.S. uses. Gasoline and distillate stockpiles in the U.S., the world's largest oil consumer, grew for four straight weeks, raising them above the 5-year average for the period. Crude oil rebounded on expectations demand for heating fuel will rise as cold weather spreads across the U.S. Snow will fall across much of the northeastern U.S. today as arctic winds sweep south from Canada and combine with a storm heading north up the Carolina coast, forecaster AccuWeather Inc. said on its Web site. Temperatures in the U.S. Northeast are likely to remain below normal from Jan. 23 through the end of the month, the National Weather Service forecast Wednesday. Crude oil for February delivery rose above US$52 a barrel on the New York Mercantile Exchange. New York-traded oil futures touched US$50.28 a barrel on Wednesday, the lowest intraday price since May 25, 2005.
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billywows Elite	17-Jan-2007 23:23 billywows About Contact Quote this Post!
x 0 x 0 Alert Admin	FUTURES MOVERS Crude falls under $51 a barrel as OPEC hopes fade By Ciara Linnane, MarketWatch Last Update: 7:50 AM ET Jan 17, 2007 NEW YORK (MarketWatch) -- Crude-oil futures fell back under $51 a barrel early Wednesday in a continued response to Saudi Arabia's rejection of calls from major oil producers for further output cuts as a way to stem the almost 17% decline in the price of oil since the start of the year. Crude for February delivery was down 40 cents at $50.83 a barrel in electronic trade. On Tuesday, the contract tumbled 3.4% after Saudi Oil Minister Ali al-Naimi said there is no need for the Organization of the Petroleum Exporting Countries to cut production further, rejecting calls from members Venezuela and Iran. Al-Naimi said the oil market is "significantly healthier" now than it was in October, when OPEC agreed to cut output by 1.2 million barrels a day. OPEC decided on a second output cut at a meeting in December but deferred that cut --another 500,000 barrels a day -- until February. "The minister stated that OPEC must wait and assess the effect of two reductions before implementing a third one," said Andrew Bradford, analyst at Canaccord Adams. In fact, the failure of many individual OPEC members to implement the cuts already agreed on - and the cartel's reluctance to take action against them - has cost it some clout in the market, according to Man Financial analyst Edward Meir. Still, "we think the Saudis were still right not to call for more cuts or for an emergency meeting at this time," he said. "Doing so, would only make it seem that OPEC is at the beck-and-call of the markets, and cutting yet again would devalue the cartel's remaining credibility." The cartel is likely gambling on the sudden arrival of cold weather across the U.S. to soak up the excess inventory created by what has been a very mild winter so far, said Meir. Weekly data on supplies of oil and its products will be released on Thursday, a day later than usual because of the Martin Luther King holiday. A series of ice storms this week had left about 80,000 Americans without electricity late Tuesday and sent emergency crews scrambling to restore power lines. Meteorologists were warning of more misery in Texas, where freezing rain pushed Governor Rick Perry's inauguration ceremony indoors in Austin on Monday, and parts of the Mississippi Valley and Louisiana. See full story. J.P. Morgan said earlier that it's cutting its 2007 oil price forecast to $61.04 a barrel from $64.05 a barrel. The revision is mostly due to a large cut in its forecast for the first quarter to $52 a barrel from a previous $68. "This implies a significant recovery in oil prices for the remainder of the year," said analyst Mark Greenwood. J.P. Morgan is expecting U.S. spring refinery maintenance to begin to have a positive impact on inventories in the next few weeks. "Planned maintenance should average almost 1 million barrels a day in the first quarter," said Katherine Spector, the bank's global energy strategist. At the same time, the onset of cold weather should improve heating oil demand, while OPEC should show signs of better compliance in the near term. J.P. Morgan is expecting the cartel to bring forward its February production cut and to implement it in the next few days. Other energy futures were also lower early Wednesday. Gasoline futures were down 1.57 cents at $1.3536 a gallon and heating oil was down 0.58 cent at $1.4745 a gallon. Natural gas was down 1.5 cents at $6.623 per million British thermal units. ------------------
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Livermore Master	17-Jan-2007 21:02 Livermore About Contact Quote this Post!
x 0 x 0 Alert Admin	Demand for oil products is still strong................
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syrix11 Member	17-Jan-2007 11:58 syrix11 About Contact Quote this Post!
x 0 x 0 Alert Admin	but the petrol prices haven't gone down... typical cartel behaviour
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zhuge_liang Supreme	17-Jan-2007 11:16 zhuge_liang About Contact Quote this Post!
x 0 x 0 Alert Admin	Oil prices dropped below US$52 a barrel to new 19-month lows Tuesday on a report that OPEC powerhouse Saudi Arabia said further production cuts aren't necessary right now. Crude oil has fallen more than 16% this year in a sell-off triggered by a historically warm winter in the Northern United States and sustained by large funds taking short positions in the market, or bets that prices will fall. Light sweet crude futures for February fell US$1.59 to settle at US$51.21 on the New York Mercantile Exchange, after hitting a low of US$50.53 in earlier trading. Tuesday's settlement price was the lowest since May 26, 2005, when crude closed at US$51.01. Last week, the National Oceanic and Atmospheric Administration said it expects warmer-than-normal weather in the Northern United States to continue through March, while the U.S. government said supplies of gasoline, heating oil and diesel fuel remained abundant.
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billywows Elite	17-Jan-2007 06:39 billywows About Contact Quote this Post!
x 0 x 0 Alert Admin	A 'warmer' winter this time .... Oil dropped to USD 51 a barrel liao!
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giantlow Master	16-Jan-2007 23:28 giantlow About Contact Quote this Post!
x 0 x 0 Alert Admin	With US starting to freeze over, i wonder why the oil prices never recover
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billywows Elite	16-Jan-2007 22:30 billywows About Contact Quote this Post!
x 0 x 0 Alert Admin	Oil dropping further .... ----------- FUTURES MOVERS Crude tumbles as Saudi's play down output cut By Ciara Linnane, MarketWatch Last Update: 8:04 AM ET Jan 16, 2007 NEW YORK (MarketWatch) -- Crude-oil futures tumbled early Tuesday after Saudi Arabia's oil minister said he believes there is no need for major oil producers to implement further production cuts, disappointing hopes that the Organization of the Petroleum Exporting Countries would intervene to prop up prices after recent sharp declines. Crude for February delivery was last down 89 cents, or 1.7%, at $52.10 a barrel in electronic trade. The contract struck a fresh 18-month low in electronic trade Monday when the New York Mercantile Exchange was closed for the Martin Luther King Day holiday. Saudi Oil Minister Ali Naimi told reporters at an oil conference in India that he believes the market is "significantly healthier" now than it was in October, when OPEC agreed to cut output by 1.2 million barrels a day, Dow Jones Newswires reported. OPEC decided on a second output cut at a meeting in December but deferred that cut - another 500,000 barrels a day - until Feb. However, data suggests that individual OPEC members have been lax in implementing the agreed-on cuts, further weighing on oil prices. --------------- NEW YORK (MarketWatch) -- Crude-oil futures tumbled early Tuesday after Saudi Arabia's oil minister said he believes there is no need for major oil producers to implement further production cuts, disappointing hopes that the Organization of the Petroleum Exporting Countries would intervene to prop up prices after recent sharp declines. Crude for February delivery was last down 89 cents, or 1.7%, at $52.10 a barrel in electronic trade. The contract struck a fresh 18-month low in electronic trade Monday when the New York Mercantile Exchange was closed for the Martin Luther King Day holiday. Saudi Oil Minister Ali Naimi told reporters at an oil conference in India that he believes the market is "significantly healthier" now than it was in October, when OPEC agreed to cut output by 1.2 million barrels a day, Dow Jones Newswires reported. OPEC decided on a second output cut at a meeting in December but deferred that cut - another 500,000 barrels a day - until Feb. However, data suggests that individual OPEC members have been lax in implementing the agreed-on cuts, further weighing on oil prices. ---------------
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lg_6273 Elite	13-Jan-2007 11:33 lg_6273 About Contact Quote this Post!
x 0 x 0 Alert Admin	12-01-2007: Asian oil markets to see resilient growth in 2007 Email us your feedback at fd@bizedge.com Oil prices have started 2007 with a plunge, but support should come from steady Asian growth for light oil products this year, as strong regional economies and tougher fuel specifications soak up crude supplies. Less than 100,000 barrels per day (bpd) of new Asia-Pacific crude is set to hit the market, though refiners will be able to draw on increased West African supplies to meet booming demand for transport and petrochemical fuels. The stronger oil product demand -- after a weak 2006 that saw governments slash retail subsidies, thin refining margins and new arbitrages out of the region -- should boost downstream profits as industries and holidaymakers get used to costly fuel. "Demand seems on the verge of a new spurt, buttressed by high economic growth in China, India and the commodity-producing countries," said Lehman Brothers. "New refining capacity growth remains lower than incremental demand for oil." The 14 percent crude futures drop this month will lower refining costs, but outright price risks remain from potential for OPEC cuts, investor flow swings or geopolitical disruptions. Asia's top oil consumer China decided to trim crude imports from Iran for 2007, amid worries over its nuclear dispute with the West, and increase purchases by 9% from Saudi Arabia. Kazakh and Venezuelan supplies to China are also on the rise. China's oil demand, which roiled markets in 2004, is seen up 5.4%, slowing from 5.6% last year, says the International Energy Agency. The swing factor will be how it takes advantage of oil's fall to fill up new strategic tanks. Demand from Japan is not seen rising as the import-reliant country strives for greater efficiency and to use higher rates of nuclear power, while South Korea is going on its biggest energy hunt yet to secure more supply from Korean-owned fields. India's crude buying is seen as stable ahead of a burst of new refineries around the turn of the decade. Indonesian buying will be volatile as it struggles to stay a net oil exporter. The key structural change will be the launch of Dubai Mercantile Exchange's sour crude Oman futures this year, giving Asia a home-grown contract for pricing and speculation that may spur liquidity, aid transparency and rearrange trading flows. Against a backdrop of stable Asian crude supply, OPEC cuts and non-OPEC growth, fuel demand keeps on rising. Economies are mostly seen posting slower growth, but in China and India 9.5% and 7.6% GDP growth is still expected. "The strength of the (oil demand) growth is in road transportation, due to burgeoning demand in commercial transport," said analyst John Waterlow from Wood Mackenzie. The Chinese are buying 10 new cars a minute and the country may turn gasoline importer this year. Indonesia and Vietnam -- Asia's two top motor fuel importers -- are expected to see even stronger 2007 GDP growth of 6% and 8.5%. In Indonesia, whose demand was dampened after sharp retail price hikes in 2005, December motorcycle sales surged 27%. "It is remarkable how well developing Asia has handled high oil prices," said Al Troner, head of Asia Pacific Energy Consulting Inc. "Further spec tightening can be expected -- it is cumulative, progressive and irreversible." Vietnam has switched to lower sulphur diesel this month and Indonesia will follow suit in March, when it may boost diesel purchases further. This buying will continue for the year as refineries run at lower capacity and take time to upgrade units. China is due to launch one or two new refineries, but otherwise product supply growth will be limited to a few Thai projects and South Korean upgrades, a survey shows. The Middle East may cut back swing product exports to meet its own needs. This should be supportive for oil product cracks, and refiner bottomlines -- simple units are breaking even after months of losses. Cracking margins for Dubai crude in Singapore are the strongest since July. Diesel demand growth in Asia is seen up 3.5%, says consultancy Purvin & Gertz. New North Asian petrochemical plants will boost demand for feedstock naphtha. Regional air passenger growth, seen at 5.7% by IATA, will suck up jet fuel. Heavy fuel oil will remain in the dumps, as uncertain Chinese buying and increased exports from Western refiners leave fuel oil cracks mired at double digit discounts. But regional growth in storage capacity will lead to opportunities for trading plays. The stronger middle distillate picture, versus a bearish start to top consumer the United States' demand, means product flows across the Pacific may be limited, but new arbitrages are opening up between East and West, to be helped by cheaper freight this year as new tankers plough out of Asian shipyards. Traders will be looking to offload high-sulphur supplies to Africa and South America, where fuel standards are lower, and Europe may increasingly ship naphtha to Asia. "The world will be fairly well balanced with the East occasionally short, which will provide more chances for European cargoes to be shipped to the East," said Jim Weinrauch, analyst at Naphtha Information Services in Singapore. - Reuters Oil prices have started 2007 with a plunge, but support should come from steady Asian growth for light oil products this year, as strong regional economies and tougher fuel specifications soak up crude supplies. Less than 100,000 barrels per day (bpd) of new Asia-Pacific crude is set to hit the market, though refiners will be able to draw on increased West African supplies to meet booming demand for transport and petrochemical fuels. The stronger oil product demand -- after a weak 2006 that saw governments slash retail subsidies, thin refining margins and new arbitrages out of the region -- should boost downstream profits as industries and holidaymakers get used to costly fuel. "Demand seems on the verge of a new spurt, buttressed by high economic growth in China, India and the commodity-producing countries," said Lehman Brothers. "New refining capacity growth remains lower than incremental demand for oil." The 14 percent crude futures drop this month will lower refining costs, but outright price risks remain from potential for OPEC cuts, investor flow swings or geopolitical disruptions. Asia's top oil consumer China decided to trim crude imports from Iran for 2007, amid worries over its nuclear dispute with the West, and increase purchases by 9% from Saudi Arabia. Kazakh and Venezuelan supplies to China are also on the rise. China's oil demand, which roiled markets in 2004, is seen up 5.4%, slowing from 5.6% last year, says the International Energy Agency. The swing factor will be how it takes advantage of oil's fall to fill up new strategic tanks. Demand from Japan is not seen rising as the import-reliant country strives for greater efficiency and to use higher rates of nuclear power, while South Korea is going on its biggest energy hunt yet to secure more supply from Korean-owned fields. India's crude buying is seen as stable ahead of a burst of new refineries around the turn of the decade. Indonesian buying will be volatile as it struggles to stay a net oil exporter. The key structural change will be the launch of Dubai Mercantile Exchange's sour crude Oman futures this year, giving Asia a home-grown contract for pricing and speculation that may spur liquidity, aid transparency and rearrange trading flows. Against a backdrop of stable Asian crude supply, OPEC cuts and non-OPEC growth, fuel demand keeps on rising. Economies are mostly seen posting slower growth, but in China and India 9.5% and 7.6% GDP growth is still expected. "The strength of the (oil demand) growth is in road transportation, due to burgeoning demand in commercial transport," said analyst John Waterlow from Wood Mackenzie. The Chinese are buying 10 new cars a minute and the country may turn gasoline importer this year. Indonesia and Vietnam -- Asia's two top motor fuel importers -- are expected to see even stronger 2007 GDP growth of 6% and 8.5%. In Indonesia, whose demand was dampened after sharp retail price hikes in 2005, December motorcycle sales surged 27%. "It is remarkable how well developing Asia has handled high oil prices," said Al Troner, head of Asia Pacific Energy Consulting Inc. "Further spec tightening can be expected -- it is cumulative, progressive and irreversible." Vietnam has switched to lower sulphur diesel this month and Indonesia will follow suit in March, when it may boost diesel purchases further. This buying will continue for the year as refineries run at lower capacity and take time to upgrade units. China is due to launch one or two new refineries, but otherwise product supply growth will be limited to a few Thai projects and South Korean upgrades, a survey shows. The Middle East may cut back swing product exports to meet its own needs. This should be supportive for oil product cracks, and refiner bottomlines -- simple units are breaking even after months of losses. Cracking margins for Dubai crude in Singapore are the strongest since July. Diesel demand growth in Asia is seen up 3.5%, says consultancy Purvin & Gertz. New North Asian petrochemical plants will boost demand for feedstock naphtha. Regional air passenger growth, seen at 5.7% by IATA, will suck up jet fuel. Heavy fuel oil will remain in the dumps, as uncertain Chinese buying and increased exports from Western refiners leave fuel oil cracks mired at double digit discounts. But regional growth in storage capacity will lead to opportunities for trading plays. The stronger middle distillate picture, versus a bearish start to top consumer the United States' demand, means product flows across the Pacific may be limited, but new arbitrages are opening up between East and West, to be helped by cheaper freight this year as new tankers plough out of Asian shipyards. Traders will be looking to offload high-sulphur supplies to Africa and South America, where fuel standards are lower, and Europe may increasingly ship naphtha to Asia. "The world will be fairly well balanced with the East occasionally short, which will provide more chances for European cargoes to be shipped to the East," said Jim Weinrauch, analyst at Naphtha Information Services in Singapore. - Reuters
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giantlow Master	13-Jan-2007 10:48 giantlow About Contact Quote this Post!
x 0 x 0 Alert Admin	Crude Oil Jumps More Than $1 on Signs Decline Was Unjustified http://www.bloomberg.com/apps/news?pid=20602099&sid=aW1rZtUxWsQ8&refer=energy
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Sporeguy Elite	11-Jan-2007 08:49 Sporeguy About Contact Quote this Post!
x 0 x 0 Alert Admin	Just my layman interpretation of oil prices. They always overshot the actual demand prices (both the max and min). I guess they play the price 3 months ahead in anticipation of the demand. So the price will reach a max (which is overshot of the actual demand) in Sept in anticipating the demand for Dec, and thus fall in Dec due to overshot. then the price will reach the max in March in anticipating the demand for summer heat. And so on ....
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giantlow Master	11-Jan-2007 07:44 giantlow About Contact Quote this Post!
x 0 x 0 Alert Admin	Oil's sell-off defies the usual reasoning Prices down nearly 9% since the year's start http://www.marketwatch.com/news/story/oil-sell-off-usual-excuses-dont/story.aspx?guid=%7BFCAF870D%2D3407%2D4B0E%2D8805%2D62BCDC524784%7D
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billywows Elite	10-Jan-2007 23:49 billywows About Contact Quote this Post!
x 0 x 0 Alert Admin	U.S. crude-product supplies up a fourth week: Energy Dept. By Myra P. Saefong Last Update: 10:34 AM ET Jan 10, 2007 SAN FRANCISCO (MarketWatch) -- The Energy Department said distillate supplies rose for a fourth week, up 5.4 million barrels to 141 million for the week ended Jan. 5. Motor gasoline supplies rose 3.8 million barrels to 213.3 million, also up a fourth week. Crude stocks fell for a seventh week, down 5 million barrels to total 314.7 million barrels. Following the news, February crude dropped $1.39 to $54.25 a barrel. February reformulated gasoline fell 4.21 cents to $1.4275 a gallon and February heating oil traded at $1.527 a gallon, down 2.95 cents. -----------
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zhuge_liang Supreme	06-Jan-2007 01:40 zhuge_liang About Contact Quote this Post!
x 0 x 0 Alert Admin	Oil prices briefly dipped below US$55 a barrel Friday before recovering a bit, a day after plunging more than US$2 a barrel as warm weather in the United States contributed to higher-than-expected inventories of gasoline, heating oil and diesel fuel. Light, sweet crude for February delivery fell as low as US$54.90 -- the lowest price in 19 months -- in electronic trading on the New York Mercantile Exchange before recovering to US$55.80, up 21 US cents. The contract on Thursday fell US$2.73, or 4.7% to settle at US$55.59 a barrel -- the lowest settlement price since June 15, 2005. The drop followed a 4.5% decline Wednesday. Ministers of OPEC are waiting to see whether the lower price trend continues before taking any further action, the chairman of Libya's oil company said Friday.
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billywows Elite	04-Jan-2007 23:58 billywows About Contact Quote this Post!
x 0 x 0 Alert Admin	Crude falls below $57 a barrel as weather, supply weigh By Ciara Linnane Last Update: 9:35 AM ET Jan 4, 2007 NEW YORK (MarketWatch) -- Crude-oil futures fell below $57 a barrel in early electronic trade, pressured by continued warm weather across the Eastern U.S. and expectations that supply data to be released later today will show further builds in oil products. Crude for February delivery was last down $1.22, or 2.1%, at $57.11 a barrel, after touching a low of $56.86, the contract's worst level since June 2005. ----------------
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KiLrOy Master	03-Jan-2007 23:37 KiLrOy About Contact Quote this Post! Yells: "I buy only what I can see."
x 0 x 0 Alert Admin	Climate change and global warming probably plays a part in the warmer winter. Then again winter is only one of the four seasons in US and I am very sure crude oil will still be use for other needs.
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giantlow Master	03-Jan-2007 23:32 giantlow About Contact Quote this Post!
x 0 x 0 Alert Admin	if the theory below is right. then gold prices and oil prices are currently moving apart. this means a possible correction soon?
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billywows Elite	03-Jan-2007 23:30 billywows About Contact Quote this Post!
x 0 x 0 Alert Admin	February crude drops to lowest level since late 2005 By Myra P. Saefong Last Update: 10:25 AM ET Jan 3, 2007 SAN FRANCISCO (MarketWatch) -- February crude fell $1.70 to $59.35 a barrel Wednesday morning, touching a low of $59.30 -- the contract's lowest intraday level since late November of 2005. "Oil continues to be under pressure due to all of the warm weather in much of the country," said Kevin Kerr, editor of MarketWatch's Global Resources Trader. February natural gas was down 11.9 cents, or 1.9%, at $6.18 per million British thermal units. ---------------
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