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Oil Prices

Shell, Caltex and ESSO has OIL pump prx has gone up by 4 cents while SPC had still not done so. may consider switching over.

teeth53      ( Date: 27-Feb-2010 15:02) Posted: Well. oil pump price has gone up, while SPC remain (thot so...hmm), SPC was sold to a firm based in China. yax-1040 Singapore Petroleum sold to PetroChina It seems odd then that Singapore Petroleum (SPC) was sold to PetroChina late May 2009. ... Is PetroChina hoping to use SPC as a vehicle for future buys? ... www.yawningbread.org/arch_2009/yax-1040.htm - Cached teeth53      ( Date: 26-Jan-2010 23:27) Posted: http://money.cnn.com/2010/01/26/news/economy/oil_prices/index.htm Latest oil news: Clueless about oil prices NEW YORK (CNNMoney.com) -- Two very different views on where oil prices are going by the year's end are emerging - one says $60 or lower, the other $100 or higher, and there's little consensus as to which is right. The bulls say stronger global economic growth and low interest rates will lead to higher demand, pushing prices up from their current level of around $75 a barrel. The bears say a rising dollar, weaker economic growth and greater efficiency will cause oil prices to fall as the year progresses. "It underscores the volatility By Steve Hargreaves, staff writerJanuary 26, 2010: 8:14 AM ET

 

Will is benefit consumers it the long run ??.  hope We can sell another power station to China, if we have one. Do we have one more to sell it to them ??.

 

Well. oil pump price has gone up, while SPC remain (thot so...hmm), SPC was sold to a firm based in China.

www.yawningbread.org/arch_2009/yax-1040.htm - Cached

teeth53      ( Date: 26-Jan-2010 23:27) Posted: http://money.cnn.com/2010/01/26/news/economy/oil_prices/index.htm Latest oil news: Clueless about oil prices NEW YORK (CNNMoney.com) -- Two very different views on where oil prices are going by the year's end are emerging - one says $60 or lower, the other $100 or higher, and there's little consensus as to which is right. The bulls say stronger global economic growth and low interest rates will lead to higher demand, pushing prices up from their current level of around $75 a barrel. The bears say a rising dollar, weaker economic growth and greater efficiency will cause oil prices to fall as the year progresses. "It underscores the volatility By Steve Hargreaves, staff writerJanuary 26, 2010: 8:14 AM ET

 

http://money.cnn.com/2010/01/26/news/economy/oil_prices/index.htm

Latest oil news: Clueless about oil prices

NEW YORK (CNNMoney.com) -- Two very different views on where oil prices are going by the year's end are emerging - one says $60 or lower, the other $100 or higher, and there's little consensus as to which is right.

The bulls say stronger global economic growth and low interest rates will lead to higher demand, pushing prices up from their current level of around $75 a barrel.

The bears say a rising dollar, weaker economic growth and greater efficiency will cause oil prices to fall as the year progresses.

"It underscores the volatility By Steve Hargreaves, staff writerJanuary 26, 2010: 8:14 AM ET

 

Oil declines for 8th session as dollar strengthens

NEW YORK - Crude-oil futures fell Friday for an eight straight session, the longest losing streak in more than six years, after a stronger-than-expected retail-sales report and consumer sentiment data boosted the dollar and weighed on commodities that are priced in the U.S. currency.

The decline erased gains from earlier in the session, when crude prices climbed after the International Energy Agency raised its forecast for next year's global oil demand and China said its industrial production accelerated in November to the fastest rate this year.

Crude oil for January delivery was last down 56 cents, or 0.8%, at $69.96 a barrel on the New York Mercantile Exchange. The eight-session losing streak is the longest since October 2003.

Crude is set to end the week down about 7%, the biggest weekly loss in 11 weeks.

The United States Oil Fund /quotes/comstock/13*!uso/quotes/nls/uso (USO 35.43, -0.30, -0.84%) sank 0.7%.

"Retail sales and the stronger dollar are the main reasons pushing down oil prices," said Phil Flynn, vice president at futures trading and research firm PFG BEST Research. "Oil supply is still ample."

Oil has lost more than 9% this month and is trading near its two-month lows.

"While the market keeps clinging to $70, it's a losing battle," said Mike Fitzpatrick, an analyst at MF Global. "Momentum virtually disappears above that mark."

"Any upward movement in price will need to be powered by fundamentals."

 

OIL   0.75ct    -1.06%      Dripping lower to US$69.79ct

 

OIL  IS CURRENTLY TRADING CLOSE TO US$70/-

 

http://money.cnn.com/    OIL   0.54    +0.73%    fall to $73.16

 

http://money.cnn.com/ (Dubai oil $$$ crisis is in six mth default-double wampee)
Wall Street selloff looms: Check futures (STI come Monday, fall by 50 points)
OIL 4.02 -5.16% $73.94

 

Some oily news here...

http://money.cnn.com/2009/11/18/news/economy/oil.prices.fortune/index.htm



8:53am: Energy prices don't need to rise that much before a fragile consumer-led economy could face another setback. More

 

 

Technical Trading

“There’s no question that yesterday’s report was extremely bearish,” Mueller said. “It fell enough to break through some support lines, which got the attention of the technical guy.”

The November contract dropped below the 100-day moving average of $69.53 yesterday, a signal to so-called technical traders that prices will move lower.

The Organization of Petroleum Exporting Countries will increase shipments 0.7 percent in the four weeks ending Oct. 10, according to consultant Oil Movements. OPEC will raise exports by sea in the period to 22.49 million barrels a day, from 22.33 million in the month ended Sept. 12, the Halifax, England-based tanker-tracker said in a report today.

The 12-member group agreed at its Sept. 9 meeting in Vienna to maintain production quotas at 24.845 million barrels a day. The 11 members governed by quotas

 

Oil Falls to a 8-Week Low as Existing U.S. Home Sales Drop
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By Mark Shenk

Sept. 24 (Bloomberg) -- Crude oil fell to an eight-week low in New York as sales of existing homes unexpectedly slumped, bolstering skepticism about the speed of the economy’s recovery from the recession.

Oil declined 4.5 percent after the National Association of Realtors said that purchases dropped 2.7 percent to a 5.1 million annual rate. An Energy Department report yesterday showed a larger-than-forecast gain in U.S. fuel supplies, increasing speculation that a glut in supply is forming in the world’s biggest energy-consuming country.

“There comes a point when you have to pay attention to the fundamentals,” said Rick Mueller, a director of oil markets at Energy Security Analysis Inc. in Wakefield, Massachusetts. “There has been a lot of talk about green shoots, but we are still shedding jobs and oil demand is still going to drop by 2 million barrels this year.”

Crude oil for November delivery fell $3.08 to $65.89 a barrel at 2:42 p.m. on the New York Mercantile Exchange, the lowest settlement price since July 29. Futures have ranged between $65 and $75 since July 31.

The drop in oil prices accelerated after the dollar climbed against the euro. A rising U.S. currency dims investor demand for commodities as a hedge against inflation. The dollar gained 0.6 percent to $1.4645 per euro from $1.4735 yesterday, when it touched $1.4844, the weakest since Sept. 22, 2008.

“We had a key reversal starting yesterday in the equities market, a key reversal in the dollar and there was already a selloff in commodities because of the ugly DOE” figures, said Tom Knight, vice president of trading and supply at Truman Arnold Cos. in Texarkana, Texas.

 

woo...real cool, oil continue to slip.  OIL   $3.09   -4.48%   to >>>$65.88

teeth53      ( Date: 24-Sep-2009 22:21) Posted: Woww...oil slip more then US$2/-...OIL    2.24    -3.25%    $66.73

 

Woww...oil slip more then US$2/-...OIL    2.24    -3.25%    $66.73

 

http://money.cnn.com/data/commodities/index.html? Drop n fall going below 70/-

Price	Change	High	Low	Settle	Last Update †
Light Crude (NYM) November 09 ($US per bbl.)	68.97	-2.79	71.05	68.88	68.97	9/23 2:24pm

 

http://news.asiaone.com/News/Latest%2BNews/Business/Story/A1Story20090923-169458.html

SINGAPORE - Oil eased in Asian trade Wednesday on profit-taking but stayed above 71 dollars a barrel ahead of this week's Group of 20 summit and a US central bank meeting, analysts said.

 

By the, may be electric car already on the road and less oil needed.

smartrader      ( Date: 05-Sep-2009 11:02) Posted: Our local oil rigs builders are world-class... opportunities abound Local Impact of BP Oil Discovery Posted: Sep 4, 2009 07:59 AM Updated: Sep 4, 2009 09:17 AM BP Make Enormous Find In Gulf BP's "giant" oil find in the Gulf of Mexico may not cause lower prices at the gas-pump, but could still have an impact in the area. "Lafayette is the center of the oil service industry for the Gulf of Mexico," said Gregg Gothreaux, president and CEO of the Lafayette Economic Development Authority (LEDA). According to LEDA there are thousands of businesses in the oil services industry in Lafayette and Acadiana.  It's these businesses that can expect more business as BP prepares to extract oil from the new site in the Gulf, a process that can take some time. "By the time they develop and get all the wells in place, it takes many years to get on-line, they're estimating sometime around 2020," said Don Briggs, president of the Louisiana Oil and Gas Association. Briggs says discoveries like this one are crucial for the oil and gas industry, as the nation's production of oil depletes 10% every year.  He says its finds like this that will be key offsetting those statistics, and lessening our dependence on foreign oil.

 

http://sg.news.yahoo.com/afp/20090913/tts-saudi-russia-oil-energy-commodities-509a08e.html

Oil relate news..."I think Saudi may at some point say, 'We've had enough -- either you comply, or you get out, or we will increase output," John Hall, an independent London-based analyst, told AFP at the OPEC talks.

"Saudi may want to impose some sort of retribution on the other members and also on Russia for taking its market share."

Under drastic cuts agreed by the 12 members of the cartel in late 2008, when prices had tumbled from historic summer highs to a mere 32 dollars a barrel, Saudi Arabia was obliged to slash 1.31 million barrels a day from its output.

 

 

Oil trade down to less then US$70/- per barrel.

OIL  2.65    Down by -3.82%    to $69.12ct

teeth53      ( Date: 10-Sep-2009 13:06) Posted: Oil pump price finally came down by 0.06 cents as of yesterday.