Thread: Oil Slick Stuff

Oil prices turn positive as OPEC secretary general calls bottom to market

LONDON (Reuters) - Oil prices turned positive on Monday, erasing early losses after the Secretary-General of the OPEC producer group said he expected the market to bottom out around current levels.
March Brent crude (LCOc1) was trading at $49.13 per barrel by 1317 GMT, up 34 cents, bouncing from an early low of $47.57.
"Now the prices are around $45-$55 and I think maybe they reached the bottom and will see some rebound very soon," Abdullah al-Badri, Secretary-General of the Organization of the Petroleum Exporting Countries said in an interview.
West Texas Intermediate (WTI) crude for March delivery (CLc1) was at $45.94 a barrel, up 35 cents. Front-month WTI had touched an intraday low of $44.35, just above the $44.20 hit on Jan. 13, which was its lowest level since April 2009.
http://finance.yahoo.com/news/oil-fa...030119435.html

I'm happy with gas around $2.00 a gallon. I hope it sticks around for awhile.

But he is Pro Energy independence? Surely.
Obama Films Anti-Oil Drilling Video–From a Jet

Video:
Obama Films Anti-Oil Drilling Video-From a Jet - Breitbart

Oil price recovers as dollar weakens against euro

By Himanshu Ojha

LONDON Tue Jan 27, 2015 5:47am EST


(Reuters) - Oil prices steadied above $48 a barrel on Tuesday, recovering from earlier losses as the dollar weakened against the euro.
Brent crude oil futures LCOc1 rose 22 cents to $48.38 a barrel by 1042 GMT.
U.S. West Texas Intermediate (WTI) crude futures CLc1 rose 10 cents to $45.25 a barrel.
The euro rose for a second day against the dollar EUR= after an 11-year low on Monday, ahead of a meeting of the Federal Reserve that may push back expectations for when U.S. interest rates will start to rise.
Prices were also supported after the Secretary-General of the Organization of the Petroleum Exporting Countries, Abdullah al-Badri, said oil prices may have bottomed out and warned of a jump to $200 a barrel if investment in new supplies was too low.[more]
Oil price recovers as dollar weakens against euro | Reuters

E10 up to $1.83 a gallon in Boiled Peanut GA!!

Crude is at $44 and change a barrel, and RBOB gasoline is at $1.34 over on CME Chicago board of trade today.


How low can it go?

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CLH5 Future Quote - Crude Oil - Electronic (NYMEX) Mar 2015 Future Price Today (CLH5:NMN) - MarketWatch
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Originally Posted by nnuut

E10 up to $1.83 a gallon in Boiled Peanut GA!!

Early last week gas was around $1.86 By mid week it was jumping up to $2.19. As of this morning most stations around $2.08.

Gas prices at the pump move up and down on a daily % rate more than the stock market.
I've seen 30 cent shifts up and down in a 4 day period. Crazy

E10 up again in Boiled Peanut to $1.84 a gallon!

Up like a rocket down like a feather. Go figure.