Thread: Oil Slick Stuff

financials, oil, fed, the media, they're all crooks all in cahoots with each other manipulating the market.

C=Last
Nice little reversal!
http://www.nymex.com/lsco_fut_condet...r=8&currPrev=C
S&P just broke resistance at 1423 hope it can hold!!!

Wonder if sell programs were kicking in so oil saved the day lol!

OR did the price drop...which made BUY programs kick in? Wonder how much of this is buying oil stocks/futures?

Or...will they try to blame the drop in the price on Congress voting to stop filling SPR?

Possibilities, possibilities! Tune in tomorrow....

Always so much to take into consideration. Then there are hidden agendas everywhere. Like they say "nothing ever happens in the Markets by chance,all is planned". Don't know who said that but there is always a plan. CNBC thinks the spike was because of the drop in oil, I'm watching as I speak.
Best of luck tomorrow!!Attachment 3879

Here is the culprit, not likely to happen again tomorrow! Natural Gas!

Oil prices waver, settle lower

Crude prices end tumultuous day slightly lower as natural gas inventories surge and investors take profits.

Last Updated: May 15, 2008: 3:33 PM EDT

(AP) -- Oil futures ended a whipsaw session slightly lower Thursday as the expiration of options played havoc with prices, driving crude near record high levels at times and down by more than $3 a barrel at others. Retail gas prices, meanwhile, advanced past $3.77 a gallon.

Options let investors bet oil prices will rise or fall in the future. Oil prices can fluctuate widely on days when options expire, analysts said. The effect may be exacerbated at the moment, when prices at historic levels have drawn more investors to speculate in options, said James Cordier, president of Tampa, Fla.-based trading firms Liberty Trading Group and OptionSellers.com.
"It's options expiration madness is what it is," said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago.
Contributing to the volatility, the June crude oil contract expires next week. Oil prices sometimes trade erratically as investors square positions ahead of a contract expiration.
Meanwhile, natural gas prices tumbled Thursday after the Energy Department said natural gas inventories rose by 93 billion cubic feet last week, more than analysts had expected. That helped pull oil prices down from earlier highs, analysts said. http://money.cnn.com/2008/05/15/mark...ion=2008051515

Meanwhile, natural gas prices tumbled Thursday after the Energy Department said natural gas inventories rose by 93 billion cubic feet last week, more than analysts had expected. That helped pull oil prices down from earlier highs, analysts said. http://money.cnn.com/2008/05/15/mark...ion=2008051515

Natural gas inventories was yesterday's news....and they're trying to tie today's drop in the price of oil to that?

LMAO! Natural gas has nothing to do with the price of oil! Who writes this stuff???

Tune in next week when they say natural gas inventories dropped last week (this week)....

Multiple gas stations in my state topped $4 a gallon today. Here is the chart of pump prices for the last 90 days.

Attachment 3881

Tell me that there is no inflation out there-- You can't have a 30% increase in the price of gasoline in just 90 days and NOT have it have a major impact on inflation everywhere!

Originally Posted by luv2read

Natural gas inventories was yesterday's news....and they're trying to tie today's drop in the price of oil to that?

LMAO! Natural gas has nothing to do with the price of oil! Who writes this stuff???

Tune in next week when they say natural gas inventories dropped last week (this week)....

Yer right and it's a mystery to me!! Guess energy is energy, fuel oil, natural gas, (heating, electricity) gas, diesel, (transportation, shipping)what about coal?Attachment 3882

Originally Posted by James48843

Multiple gas stations in my state topped $4 a gallon today. Here is the chart of pump prices for the last 90 days.

Attachment 3881

Tell me that there is no inflation out there-- You can't have a 30% increase in the price of gasoline in just 90 days and NOT have it have a major impact on inflation everywhere!

That is a NASTY chart, when will they have enough of our money? CROOKS!!Attachment 3883

Originally Posted by James48843

Multiple gas stations in my state topped $4 a gallon today. Here is the chart of pump prices for the last 90 days.

Attachment 3881

Tell me that there is no inflation out there-- You can't have a 30% increase in the price of gasoline in just 90 days and NOT have it have a major impact on inflation everywhere!

but..but...the government reports say the price didn't increase.....

Let's see:

GSA POV rate back in January 1, 2003- $.36 cents a mile.
Price of a gallon of gasoline on that date, $ !.39 a gallon, or a little less than 4 GSA miles to pay for a gallon of gas.


GSA POV rate: February 1, 2007- 48..5 cents a mile.
Price of gasoline on that date: $ 2.26 a gallon or jusrt about 5 GSA miles per gallon of gas reimbursement. The rest of the costs are attributable to oil, wear and tear, insurance, etc.


GSA POV rate: March 19, 2008- 50.5 cents a mile.
Price of gasoline on that date: $ 3.24 a gallon, or about 6 1/2 miles to reach the price of one gallon of gasoline.


Today?

GSA rate is unchanged. Price of gasoline nationally is now $3.79 a gallon, or about 7.5 GSA miles per one gallon of gas cost.

That means in real terms, we get reimbursed only about half- in real terms, as what we did on January 1, 2003, just five years ago.

People ought to be calling their Unions, calling the GSA, writing to govexec.com, and their congressmen, asking to raise the reimbursement rate for POV mileage rates to reflect the increased cost in fuel.