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luvbugz
Member |
23-Dec-2006 16:23
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Profit-taking sends oil prices lower
NEW YORK : World oil prices slid below US$63 on Thursday on profit-taking, despite a fresh attack on oil infrastructure in Nigeria, Africa's biggest exporter of crude. Prices dropped a day after surging because of a drop in US crude stockpiles. New York's main contract, light sweet crude for delivery in February, dived US$1.06 to close at US$62.66 a barrel. On Wednesday the contract had touched a three-month high of US$64.15. In London, Brent North Sea crude for February delivery slid 77 cents to settle at US$62.46 a barrel. At Mitsubishi Corp's international petroleum business in Tokyo, trader Tony Nunan said that US$63 was "a pretty healthy" level for prices. "So I think people are deciding to take some profit," he said. The US Department of Energy had revealed on Wednesday that inventories of crude oil slumped 6.3 million barrels to 329.1 million in the week ended December 15. That was more than triple the decline expected by analysts who had predicted a drop of just 2.0 million barrels. However, levels of distillate products, which include heating oil and diesel, increased by 1.2 million barrels to 133.1 million over the week. Analysts had expected a drop of 600,000 barrels. Gasoline or petrol reserves rose 1.0 million barrels to 200.9 million, the DoE report showed, against forecasts of no change. Fimat analyst Mike Fitzpatrick said on Thursday's fall in prices came after the "overreaction to yesterday's drawdowns in crude oil." "Plus there is the reopening of the Houston Ship Channel, so the backlog should catch up very quickly," he added. Earlier this week, crude futures had rebounded strongly as traders fretted over thick fog barring Gulf of Mexico tankers from the busy shipping channel in Texas. "However, inventories of gasoline and distillates fuel increased (last week), reducing concerns over falling supplies in recent months," said Sucden analyst Michael Davies. Traders were also keeping a wary eye on Nigeria, where separatist unrest has slashed oil production by a quarter this year. At least three people were killed when gunmen attacked facilities owned by two foreign oil companies in southern Nigeria, while a third oil major, which was attacked this week, starting relocating the families of its staff. An attack on a Total site took place in the southern Rivers State, heartland of the oil industry in the volatile Niger Delta. Armed men also attacked a flow station operated by Agip, a subsidiary of Italy's Eni, at Tebidaba in the neighbouring southern state of Bayelsa, a military officer said. Separatist fighters in the Niger Delta are seeking a higher share of Nigeria's oil wealth for the region's 14 million ethnic Ijaw people. This has cut Nigeria's normal production of 2.6 million barrels of crude per day by about 25 percent. - AFP/de |
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giantlow
Master |
22-Dec-2006 17:28
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UPDATE 1-Oil bull Goldman cuts 2007 US crude forecast by $3Thu Dec 21, 2006 10:29pm ET  http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20061222:MTFH63540_2006-12-22_03-28-55_SP148144&type=comktNews&rpc=44 |
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giantlow
Master |
22-Dec-2006 17:25
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Japan urges Russia to be 'responsible' after gas takeoverJapan has urged Russia to be "responsible" but said it was confident it would receive gas supplies as planned after Moscow took control of the massive Sakhalin-2 project from British and Japanese companies.http://sg.biz.yahoo.com/061222/1/45m4n.html |
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giantlow
Master |
22-Dec-2006 17:24
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Friday December 22, 4:31 PM
Environmental probes strong-armed Shell from Sakhalin-2: pressRussian
natural gas giant Gazprom succeeded in ousting Royal Dutch Shell for
control of the Sakhalin-2 energy project thanks to Moscow's strong-arm
tactics -- and may have got a bargain in the process, Russian
newspapers said.
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giantlow
Master |
21-Dec-2006 15:30
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Argh!!!! My warrant drop until 4.5 cents. but I got no more $$$ to buy more. |
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lg_6273
Elite |
21-Dec-2006 14:54
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sometimes its share price does not correlate well with oil price??? Oil Jumps to a 3-Month High After U.S. Reports Inventory Drop By Mark Shenk Dec. 20 (Bloomberg) -- Crude oil climbed to a three-month high in New York after a government report showed that U.S. inventories dropped more than expected and imports fell, signaling that OPEC is acting on its pledge to trim output. Supplies of crude oil fell 6.32 million barrels in the week ended Dec. 15 to 329.1 million barrels, the Energy Department reported today. Supplies were expected to fall by 2 million barrels, according to the median of forecasts from 15 analysts surveyed by Bloomberg News. The U.S. imported crude oil at the slowest pace in more than a year, the report showed. ``We don't have the glut in supply that existed in September and October,'' said Tim Evans, an energy analyst at Citigroup Global Markets Inc. in New York. ``The crude-oil supply cushion is disappearing as OPEC is reducing production, which should be very bullish.'' Crude oil for February delivery rose 26 cents, or 0.4 percent, to $63.72 a barrel on the New York Mercantile Exchange, the highest close for the contract nearest expiration since Sept. 18. Oil futures are up 9.9 percent in the past year. Refineries operated at 90.7 percent of capacity, the highest since September, according to the Energy Department report, released at 10:30 a.m. in Washington. Imports fell 7.3 percent to 8.9 million barrels, the lowest level since Oct. 7, 2005. Stockpiles of distillate fuels, the category that includes heating oil and diesel, rose by 1.2 million barrels. They had been expected to drop. OPEC Cuts OPEC has succeeded in halting a four-month slide in oil prices, said Michael Fitzpatrick, vice president for energy risk management at Fimat USA in New York. ``I think we'll continue to see weak imports as the OPEC cuts come into effect.'' Oil prices in New York dropped from a record $78.40 a barrel on July 14 to a low of $54.86 on Nov. 17. OPEC's 11 members produced 28.85 million barrels of crude oil a day in November, down 593,100 barrels a day from the previous month, the group said in a monthly report on Dec. 18. That's about half of the reduction of 1.2 million barrels a day that they agreed upon at an Oct. 20 meeting in Doha, Qatar. Earlier this month, they agreed to an additional cut in output of 500,000 barrels a day, which is supposed to be implemented starting Feb. 1. Houston Ship Channel The decline in crude oil inventories may be partly caused by delays unloading tankers in the Houston area. The Houston Ship Channel, part of the largest U.S. petroleum port, was shut for several days last week and this week because of fog. Imports in District Three, which includes states along the U.S. Gulf of Mexico coast, tumbled 12 percent to 4.8 million barrels a day last week, according to the department. |
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lg_6273
Elite |
21-Dec-2006 14:51
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No share buy back these 2 days, price drops. Maybe spc wants to buy at even cheaper price, so stop for a while... | |||||||||||||
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iPunter
Supreme |
21-Dec-2006 07:45
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When the time is not 'ripe', news will not budge a stock an inch...:) | |||||||||||||
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giantlow
Master |
20-Dec-2006 22:14
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Crude Oil Rises on Signs Report Will Show U.S. Inventory Drop By Mark Shenk Dec. 19 (Bloomberg) -- Crude oil rose on speculation an Energy Department report tomorrow will show that U.S. inventories declined for a fourth week. Crude-oil supplies fell 2 million barrels from 335.4 million last week, according to the median of 15 estimates in a Bloomberg News survey. Refineries operated at 89.6 percent of capacity, up 0.5 percentage point from the week before, the survey showed. The department is scheduled to release its weekly petroleum inventory report tomorrow at 10:30 a.m. in Washington. |
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giantlow
Master |
20-Dec-2006 22:13
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What is the target price for the main share & the warrant? Mine is about slightly below 5 for the main share and 14 - 16 cents for the warrant |
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rickytan
Veteran |
20-Dec-2006 21:08
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this is a very volatile stock. Now a bit sleepy but when it wakes up and charge, those with weak heart cannot take it. |
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hengsuan
Member |
20-Dec-2006 17:51
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i m vested as i m veri +++, no high risk no high gain... | |||||||||||||
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entrapment
Member |
20-Dec-2006 17:40
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for 100 lots @0.05, prepare to lose 4-5K if the price still sucks 1 mth b4 expiry or profit easily 5K if the price cross over 4.5 |
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giantlow
Master |
20-Dec-2006 17:21
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Its warrant SPC DB eCW070305 seems very attractive. |
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Capitalization
Member |
20-Dec-2006 16:36
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Sign very sian this counter.......just when it came up to breathe a bit.........still snokerling below MA. Think have to hold till next year when OPEC cuts the output. Hope it dont drop below 4.26! | |||||||||||||
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iPunter
Supreme |
20-Dec-2006 16:29
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Somehow it's still feels rather weak at the moment... But unless something confirms this one's downtrend has come to an end, such as when it hits a major support (which it hasn't), or when a double bottom takes shape, or a 'miraculous' surge... it would be well to assume the downtrend is still underway. |
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giantlow
Master |
20-Dec-2006 16:12
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Anyone has any idea what is happening to this counter??? How come so little volume and so little share price movement? What are the charts saying? |
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giantlow
Master |
19-Dec-2006 23:58
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Nigerian militants strike oil properties PORT HARCOURT, Nigeria ? Militants seeking a greater share of oil revenues for their impoverished region detonated two car bombs nearly simultaneously Monday in southern Nigeria, the latest in a series of attacks that have cut crude production in Africa's oil giant by one quarter. No casualties were reported at either site. |
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giantlow
Master |
19-Dec-2006 23:54
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Venezuela cut 105,000 bpd in November
Following implementation of a slight cut of 30,000 bpd in October, Venezuela cut oil drilling by 105,000 bpd in November, thus meeting most of the oil cut of 138,000 bpd the Organization of Petroleum Exporting Countries (OPEC) dictated. Based on the figures published in the International Energy Agency (IEA) monthly report on energy markets, Venezuelan oil extraction went down from 2.55 million bpd in September to almost 2.52 million bpd in October and then to 2.42 million bpd in November. The figures in November comprise 481,000 bpd of extra-heavy crude oil from the Orinoco oil belt, which is more than 100,000 bpd below the production capacity in the area, as this was precisely the zone where most of the OPEC production cut was implemented last month, according to official sources. "The cut in Venezuela was the result of maintenance activities at the Sincor upgrading plant since the end of October to mid-November. Venezuelan authorities claimed the country's output cut under OPEC would be almost fully implemented at the oil partnerships at the Orinoco oil belt," IEA said. Venezuelan oil production averaged 2.71 million bpd in 2005, but in 2006 output recorded a steady fall. In the first quarter, the mean was 2.61 million bpd, in the second quarter, production dropped to 2.51 million bpd and in October-November it averaged 2.46 million. Venezuelan output is expected to recede further in December, to fully meet the goal of reduction under OPEC. OPEC in November pumped 27.05 million bpd -a decrease of 410,000 bpd, and only one third of the 1.2 million bpd it undertook to cut in the month. IEA expects world oil demand to grow from 84.5 million bpd this year to 85.9 million in 2007. |
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lg_6273
Elite |
18-Dec-2006 21:07
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Cummulative no. of shares purchased to-date 1,860,000 ; today bought only 120,000 [last fri was 1,740,000] http://info.sgx.com/webcorannc.nsf/560dd4b031b97d27482571b20043d38c/1c251f7cca1ef5764825724800429ece?OpenDocument |
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