Thread: Oil Slick Stuff

$59.21 at 07:31 +.34 Vacillating in a range, but things can change quickly. Watch that inventory data at 10:30!
http://www.nymex.com/lsco_fut_condet...r=7&currPrev=C

$59.37 +.49 just before the inventories announcement

02/07/2007 - Updated 10:16 AM ETCrude oil climbs back above $59 a barrelTraders focus on supply data; natural-gas prices on the rise</IMG>By Myra P. Saefong, MarketWatch & Tomi Kilgore, MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures climbed back above $59 a barrel Wednesday morning, supported by expectations that the cold weather in the Northeast will trigger a second-weekly decline in U.S. inventories of distillates, which include heating oil.
(more)
http://markets.usatoday.com/custom/u...A036E388616%7D

-449k Huuuummmm!
Oil choppy as heating supplies drop

Reports says distillates fall by nearly 4 million barrels; cold weather grips Northeast.

February 7 2007: 10:38 AM EST


NEW YORK (CNNMoney.com) -- Oil prices zigzagged after a government report said supplies of heating oil fell more than expected.
U.S. light crude for March delivery were up 35 cents to $59.23 a barrel on the New York Mercantile Exchange. Oil had traded up 58 cents at $59.46 just prior to the report's release, then rose as high as $59.85 before coming down.
http://money.cnn.com/2007/02/07/mark...ion=2007020710

$58.62 a barrel at 12:51 -.26
Well, a oil inventory in the minus seems to be causing the price to drop, more likely it is the Gas inventories, but it's all good. Down Boy!
http://www.nymex.com/lsco_fut_condet...r=7&currPrev=C

March crude closed lower by -1.16 to 57.72

Lower is better, I think! Yeah, March.

$57.78 a barrel at 07:40 +.07 $57.69 at 11:00 -.02
http://www.nymex.com/lsco_fut_condet...r=7&currPrev=C
Regular Gas ranging from $2.03 to $2.13 a gallon in central georgia, Up she goes!
http://www.gasbuddy.com

Settle at $59.71, currently $59.60 at 14:54 -.11 Up, Up and away!
http://www.nymex.com/lsco_fut_condet...r=7&currPrev=C

Hey folks Sweet Light Crude just broke $60, many said that when this happens it would have a bearish effect on the Markets.

"You might think that, but these people may not agree:
You're kidding me, right?
Crude for March delivery may be off its highs, but the commodity came within a nickel of hitting $60/bbl earlier. Oil eclipsing such a psychological barrier will become a bearish factor for stocks and bring its inflationary potential back into focus among policy makers." Post #1234

http://finance.yahoo.com/marketupdate/overview

Now it stands at $60.21 at 19:50 +.50 let's see if the price holds? Be advised!

Nnuut,
The bad news coming out on Nigeria terrorists holding hostages could be creating significant uncertainty in the crude oil supply and in the price of oil?

You're right, but this has been going on for a while now. They have had all on shore oil production shut down for months. The off shore production is still putting out, but the terrorist have started to Shanghai Oil Tankers, now that may really slow them down. I think it's a Shell facility.
$60.13 at 21:47 +13 Doesn't seem to be backing off much, Yet!