Thread: Oil Slick Stuff

07/21/2009 - Updated 10:43 AM ET


Crude rises for fifth day on economic hopes, weaker dollar

By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures rose Tuesday for a fifth straight session, climbing above $65 a barrel for the first time in more than two weeks, as a weaker dollar and hopes for an economic recovery continued to push up prices.
Investors were also awaiting two weekly petroleum reports scheduled to be released late Tuesday and Wednesday, respectively. Analysts said they expect the data to show another decline in crude stockpiles last week, but inventory buildups in gasoline and other petroleum products are expected to more than offset the decline in crude.
http://markets.usatoday.com/custom/u...AD349EBA1AD%7D

Well, there you have it..a basically down market day, but oil managed to creep up........Son of a ----- !!!!

The Market is nnuuts!!!
You were right, gas went up from $2.16 to $2.23 yesterday, it looks like your area is a week ahead of where I live!!

07/22/2009 - Updated 3:35 AM ET

Crude-oil prices slip after recent gains
By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) -- Crude-oil prices slipped Wednesday, retracing some of its recent advances after rising in the five previous regular sessions, although Asian stocks managed to eke out broad gains.
September futures, the new front-month contract of light crude-oil, slipped 51 cents to $65.10 a barrel on Globex. The futures rose as high as $65.35 a barrel earlier in the day.
http://markets.usatoday.com/custom/u...018356A1B5A%7D

Just got back to my desk, long morning!!

07/22/2009 - Updated 11:31 AM ET

Crude falls first day in six as U.S. petroleum inventories rise
By Moming Zhou, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures fell Wednesday for the first session in six, as U.S. data showed total petroleum inventories continued to rise last week, adding to what already was a 19-year high as petroleum demand remained weak.
Total inventories of crude, gasoline and other petroleum products rose 1.9 million barrels in the week ended July 17 to 1,117.6 million barrels, http://markets.usatoday.com/custom/u...018356A1B5A%7D

07/23/2009 - Updated 3:37 AM ET

Crude futures slip a bit further on Globex
By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) -- Crude-oil prices declined Thursday, extending their fall in New York after U.S. data showed total petroleum inventories continued to rise last week.
The front-month September contract for light sweet crude slipped 36 cents to $65.25 a barrel on Globex.
The futures ended 21 cents, or 0.3%, lower at $65.40 a barrel on the New York Mercantile Exchange Wednesday, dropping for the first session in six.
barrels.http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BAABA6B04%2DE 254%2D4EB0%2D8D10%2DEF195CC0CA47%7D

07/23/2009 - Updated 9:14 AM ET

Crude futures slip a bit as U.S. jobless claims rise
By Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Oil futures edged lower early Thursday as data showing a rise in U.S. jobless claims and a steep decline in Japanese oil imports rekindled concerns about the global economy and weak energy demand.
Light sweet crude for September delivery fell 17 cents to $65.24 a barrel in electronic trading on Globex.
http://markets.usatoday.com/custom/u...F195CC0CA47%7D

Slip, did someone say SLIP??

Crude tops $66 a barrel after home sales, upbeat earnings
By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures reversed earlier losses, rising above $66 a barrel Thursday as mostly upbeat company earnings and U.S. home sales data lifted stock markets and raised hopes for an economic recovery.
The Nasdaq Composite index is poised for the longest winning streak in 17 years, while the Dow Jones Industry Average topped 9,000 for the first time in six months. U.S. June existing home sales rose for a third straight month to the highest level since last October.
http://markets.usatoday.com/custom/u...F195CC0CA47%7D

So Gas and Oil spike because "upbeat company earnings and U.S. home sales data lifted stock markets and raised hopes for an economic recovery." "Demand is still weak and supplies still high yet the market keeps driving us higher,"

This is just nnuuts!!

Gasoline locally here jumped 11 cents this evening. Now at $2.55. Was $2.44 this afternoon.

Isn't it amazing that pump price can change that much--the same day that the raw crude price jumps a bit.

Oil jumps to 2-week high

Crude futures pulled higher by a rally on Wall Street spurred by corporate earnings, housing data. Gasoline futures surge.

Last Updated: July 23, 2009: 2:52 PM ET


Click on the chart for current oil prices.

NEW YORK (Reuters) -- Oil prices rose above $67 a barrel Thursday to their highest in more than two weeks, buoyed by worries about gasoline supplies and a rally on Wall Street driven by expectations for an economic recovery.
U.S. crude oil surged $1.76 to settle at $67.16 a barrel Thursday.
http://money.cnn.com/2009/07/23/mark...ion=2009072314

Originally Posted by James48843

Gasoline locally here jumped 11 cents this evening. Now at $2.55. Was $2.44 this afternoon.

Isn't it amazing that pump price can change that much--the same day that the raw crude price jumps a bit.

Ain't it the truth!!!!