Saturday, June 27, 2009
Worldwide Unrest & Crude Oil Prices
Channels: Energy Analysts Economists
Tags: Oil Simmons Energy
Friday, June 26, 2009
crude Oil above the $70 a barrel again !!!
Oil Rises a Second Day on Shell Pipeline Attack, Equity Gains
By Ben Sharples and Christian Schmollinger
June 26 (Bloomberg) -- Crude oil rose for a second day, trading above $70 a barrel after militants attacked a Royal Dutch Shell Plc pipeline supplying an export terminal in Nigeria, Africa’s largest producer.
The Movement for the Emancipation of the Niger Delta, or MEND, said it disrupted operations at a pipeline supplying Shell’s Bonny terminal. Oil also advanced as U.S. equities gained the most in three weeks and the U.S. dollar declined against the euro.
“The factor supporting oil is the situation in Nigeria, where militants again have claimed to attack oil industry infrastructure,” said David Moore, a commodity strategist with Commonwealth Bank of Australia Ltd. in Sydney. “It seems to have intensified and I suspect it’s something that’s helping keep the oil price at that higher level.”
Crude oil for August delivery rose as much as 54 cents, or 0.8 percent, to $70.77 a barrel in electronic trading on the New York Mercantile Exchange. It was at $70.61 a barrel at 10:06 a.m. Singapore time.
Yesterday, the contract rose $1.56, or 2.3 percent, to settle at $70.23 a barrel. Oil has gained 1.5 percent this week after falling 3.5 percent last week.
The Nikkei 225 Stock Average climbed 32.21, or 0.3 percent, to 9,828.29 as of 9:05 a.m. in Tokyo.
Monday, June 22, 2009
Crude Oil to $ 100 says Nouriel Roubini
Sunday, June 21, 2009
Crude Oil Falls, Following Stocks Lower, as Dollar Strengthens
Prices declined after stocks dropped and the U.S. currency gained against the euro. The stronger currency undermines demand for dollar-priced assets such as oil and gold. Oil futures touched a seven-month high of $70.32 on June 5 after a Labor Department report showed the fewest job losses in eight months.
The fundamentals don’t support these prices, said Michael Fitzpatrick, a vice president for energy at MF Global Ltd. in New York. A stronger dollar takes away one of the supporting factors behind the recent rally.
Crude oil for July delivery fell 35 cents, or 0.5 percent, to settle at $68.09 a barrel at 3:04 p.m. on the New York Mercantile Exchange. Futures are up 53 percent this year.
Read entire areticle :
Tuesday, June 16, 2009
What's driving the Oil Rally ? is it an Oil Bubble ?
Monday, June 15, 2009
Crude Oil Below $70 as Dollar Rises, Equity Market Drop
Friday, June 12, 2009
Oil Price heads to $80 as Global Demand for Crude Oil Soars
CBA's Moore expects oil prices to head to $80 a barrel over 2010.
Thursday, June 11, 2009
Shell settles Nigerian killings lawsuit
As a lawsuit against the company over the issue was due to go to trial in New York, the oil company agreed to settle out of court, paying $15.5m to the families of executed activists.
Gas prices on the rise at the pump
gas prices, on the rise, Indiana, Autos, Business, Energy, News, Shopping & Commerce, consumer affairs, gas prices
Crude Oil prices hit $78 a barrel !!!
Wednesday, June 10, 2009
Crude oil futures closed higher by nearly 3 percent, above $70 per barrel
Oil Tops $70 a Barrel
Crude oil futures closed higher by nearly 3 percent, above $70 per barrel for the first time in seven months Tuesday, hitting a new high for the year. The move higher was triggered by a falling dollar, and a report out of the Energy Information Administration forecasting higher crude prices.Natural Gas Gold Silver Platinum Palladium prices are all rising amongst fear of hyperinflation ...commodities also are rising fueled by massive purchasses from china which sees commodities as a safer to spend its massive amounts of accumulated US dollars thanks to its trade with America largely beneficiary to China
Tuesday, June 9, 2009
Crude Oil prices will Spike says Shell CEO
Sunday, June 7, 2009
Privacy Policy
Update April 2009 - Privacy Policy
This blog uses third-party advertising companies to serve ads when visiting this site. These third parties may collect and use information (but not your name, address, email address, or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, you can visit Google's Advertising and Privacy page.
If you wish to opt out of Advertising companies tracking and tailoring advertisements to your surfing patterns you may do so at Network Advertising Initiative.
Google uses the Doubleclick DART cookie to serve ads across it's Adsense network and you can get further information regarding the DART cookie at Doubleclick as well as opt out options at Google's Privacy Center
Privacy
I respect your privacy and I am committed to safeguarding your privacy while online at this site http://4oil.blogspot.com The following discloses how I gather and disseminate information for this Blog.
RSS Feeds and Email Updates
If a user wishes to subscribe to my RSS Feeds or Email Updates (powered by Feedburner), I ask for contact information such as name and email address. Users may opt-out of these communications at any time. Your personal information will never be sold or given to a third party. (You will never be spammed by me - ever)
Log Files and Stats
Like most blogging platforms I use log files, in this case Statcounter. This stores information such as internet protocol (IP) addresses, browser type, internet service provider (ISP), referring, exit and visited pages, platform used, date/time stamp, track user’s movement in the whole, and gather broad demographic information for aggregate use. IP addresses etc. are not linked to personally identifiable information.
Cookies
A cookie is a piece of data stored on the user’s computer tied to information about the user. This blog doesn't use cookies. However, some of my business partners use cookies on this site (for example - advertisers). I can't access or control these cookies once the advertisers have set them.
Links
This Blog contains links to other sites. Please be aware that I am not responsible for the privacy practices of these other sites. I suggest my users to be aware of this when they leave this blog and to read the privacy statements of each and every site that collects personally identifiable information. This privacy statement applies solely to information collected by this Blog.
Advertisers
I use outside ad companies to display ads on this blog. These ads may contain cookies and are collected by the advertising companies and I do not have access to this information. I work with the following advertising companies: Google Adsense. Please check the advertisers websites for respective privacy policies.
Contact Information
If you have any questions or concerns please contact Me at lynda.com@gmail.com This privacy policy updated February 2008 and April 2009
Crude Oil Prices hit a record high of 70 Dollars a Barrel
Wednesday, June 3, 2009
Oil price rally comes to a halt
US light, sweet crude oil was down 86 cents at $67.69 a barrel, while Brent crude fell 61 cents to $67.56.
US President Barack Obama has begun a tour of the Middle East, where he will raise the issue of volatile oil prices with Saudi Arabia's King Abdullah.
He is also expected to reassure Saudi that demand for oil will not dry up. Earlier, oil prices had reached $68.64.
"The Saudis want to be assured that there will be a future for oil consumption. They want security of demand," said Simon Wardell, senior oil analyst at Global Insight.
"Obama for his part will be persuading them to continue investing in new production, which is not likely to have too much impact on spot prices in the near term, but will come five or 10 years down the road."
Read entire article :
Tuesday, June 2, 2009
Oil Prices Rise Above $69
Weak dollar, China data boost oil prices
Oil prices pushed to new highs for the year yesterday on a weak dollar and new data suggesting manufacturing in China has strengthened. Both of those factors helped send energy prices to record highs last summer.
The national average gasoline price over the weekend rose above $2.50 a gallon for the first time since October.
Benchmark crude oil for July delivery rose $2.27 to settle at $68.58 a barrel on the New York Mercantile Exchange, the highest close since November. On the ICE Futures exchange in London, Brent crude rose $2.45 to settle at $67.97 a barrel.
Source :
Monday, June 1, 2009
Oil Falls From Seven-Month High on Signs OPEC Output Climbing
By Christian Schmollinger
June 2 (Bloomberg) -- Crude oil retreated from a seven- month high in New York on signs OPEC’s output is climbing and as traders who bet on rising prices sell futures to lock in gains.
Oil jumped as much as 3.6 percent yesterday, capping a 12 percent increase since May 21, after the U.S. and China reported increases in manufacturing activity. The Organization of Petroleum Exporting Countries raised their production by 1.5 percent in May, according to a Bloomberg News survey.
“OPEC countries are starting to see prices at $70 and then they start exerting less discipline on the quotas,” said Ben Westmore, a minerals and energy economist at National Australia Bank Ltd. in Melbourne. “The price ran pretty high overnight so we may be seeing some profit-taking as people still consider the fundamentals quite weak.”
Crude oil for July delivery fell as much as 78 cents, or 1.1 percent, to $67.80 a barrel on the New York Mercantile Exchange. It was at $68.42 a barrel at 12:07 p.m. Singapore time. Yesterday, oil closed at $68.58 a barrel, the highest settlement since Nov. 4. Prices are up 53 percent this year.
Futures climbed yesterday on expectation that fuel demand will increase as the economy improves later this year. The Institute for Supply Management’s U.S. factory index strengthened to 42.8 from 40.1 in April and China’s Purchasing Manager’s Index showed manufacturing in May gained for a third month.
Friday, May 29, 2009
Oil extends gains to $66
By Chris Flood
Published: May 29 2009 11:59 | Last updated: May 29 2009 17:16
Crude oil prices were on course on Friday for their strongest monthly rise in more than 10 years following this week’s Opec meeting where the oil producers’ group delivered a surprisingly upbeat assessment of demand.
Nymex July West Texas Intermediate hit a seven-month high of $66.47 on Friday befor
e easing to trade 92 cents higher at $66 a barrel, up 7 per cent this week.
US crude prices have risen 29.1 per cent in May, on track for their best monthly performance since March 1999.
ICE July Brent gained 76 cents to $65.15 a barrel, up 7.2 per cent this week.
Abdalla El-Badri, Opec’s secretary-general, said oil prices could rise to $70-$75 a barrel by the end of the year.
“The outlook is improving,” said Mr El-Badri, who also conceded that the market’s fundamentals were “still weak”.
Tuesday, May 26, 2009
Saudi warns of $150 oil within three years
Published: May 25 2009 18:59 | Last updated: May 25 2009 18:59
Saudi Arabia warned oil prices could spike to beyond the near $150 record high of 2008 within three years as it joined other energy leaders on Monday to call for more investment to boost production over the long term.
Energy ministers and officials at the Group of Eight energy summit wrapped up the two-day meeting by urging the industry to pump money into projects to expand capacity despite the credit crisis, which has put the brakes on investment.
Saudi Arabian Oil Minister Ali Naimi said the world was heading for a fresh spike after the current phase of faltering demand and lower prices, which he said reflected the economic downturn rather than being an indicator of things to come.
”We are maintaining our long-term focus rather than being swayed by the volatility of short-term conditions,” he said in prepared remarks at the summit.
”However, if others do not begin to invest similarly in new capacity expansion projects, we could see within two-to-three years another price spike similar to or worse than what we witnessed in 200
Read entire article:
An outlook on where crude is heading next
Crude Realities
An outlook on where crude is heading next, with Stephen Schork, The Schork Report editor and Joe Petrowski, Gulf Oil CEO.
Sunday, May 24, 2009
Impact of US dollar fall on stock and commodity prices
A useful round-up from Bloomberg on the fall of the US dollar last week and what this has meant for commodities and commodity stock prices. Note the 11 per cent bounce in gold stocks.