Author Topic: Brent crude $56.80 and U.S. crude $53.80 A Barrel Now  (Read 342583 times)

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Offline Letsbereal

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Brent just passed back above $100
« Reply #40 on: July 03, 2012, 09:52:22 am »
Made the call yesterday: ‘Time to keep an eye on oil prices again.’ When Brent crude was $97.34 and U.S. crude $83.47 a barrel.

Lo and behold today: Brent just passed back above $100 http://www.zerohedge.com/news/us-military-re-surging-persian-gulf-turkey-scrambles-jets-third-day-and-iran-fires-medium-range

Brent crude $100.20 and U.S. crude $87.20 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Brent crude $103.89 and U.S. crude $88.89 a barrel now
« Reply #41 on: July 17, 2012, 09:47:18 am »
Brent crude $103.89 and U.S. crude $88.89 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Brent crude $105.18 and U.S. crude $89.61 now
« Reply #42 on: July 18, 2012, 11:01:53 am »
Brent crude $105.18 and U.S. crude $89.61 now http://www.reuters.com/finance/[email protected]

Oil futures rally after supply decline
18 July 2012
, by Claudia Assis - San Francisco (Market Watch)
http://www.marketwatch.com/story/oil-futures-rally-after-supply-decline-2012-07-18

Crude-oil futures shot up Wednesday after a weekly government report showed a decline in supplies.

Crude for August delivery added 61 cents, or 0.7%, to $89.85 a barrel on the New York Mercantile Exchange.

Prices were up a fraction before the report, and had traded lower earlier.

The Energy Information Administration reported oil inventories declined 800,000 barrels in the week ended July 13.

That compares to expectations of a decline of 1.4 million, according to analysts polled by Platts.

The EIA also reported gasoline inventories down 1.8 million barrels, and supplies of distillates up 2.6 million.

The analysts surveyed by Platts had expected gasoline stockpiles up 700,000 barrels, and distillates inventories up 1 million barrels.
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Offline Letsbereal

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Speculators drive up petrol prices at the pumps - Vid
« Reply #43 on: July 18, 2012, 02:43:23 pm »
Speculators drive up petrol prices at the pumps www.youtube.com/watch?v=vWFDlGKxzuQ

Was the petrol price rigged too?
15 July 2012
, by Rowena Mason, Emma Rowley (The Telegraph)
http://www.telegraph.co.uk/earth/energy/fuel/9401934/Libor-scandal-Was-the-petrol-price-rigged-too.html

OPEC sees slower world oil demand growth in 2013
11 July 2012
, by William L. Watts – Frankfurt (Market Watch)
http://www.marketwatch.com/story/opec-sees-slower-world-oil-demand-growth-in-2013-2012-07-11

Global demand for oil in 2012, 2013 revised lower
10 July 2012
, by Claudia Assis – San Francisco (Market Watch)
http://www.marketwatch.com/story/global-demand-for-oil-in-2012-2013-revised-lower-2012-07-10
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Offline Letsbereal

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Oil pushes past $92, set for seventh day of gains
« Reply #44 on: July 19, 2012, 02:41:20 pm »
Oil pushes past $92, set for seventh day of gains - Natural gas swings between narrow gains and losses after update
19 July 2012
, by Claudia Assis and V. Phani Kumar - San Francisco (Market Watch)
http://www.marketwatch.com/story/oil-reclaims-90-level-set-for-7th-day-of-gains-2012-07-19

Crude-oil futures pushed past $92 a barrel Thursday, well on track to score a seventh day of gains, as traders considered the potential for lower supplies and reacted to Middle East strife.

Crude for August delivery gained $2.98, or 3.3%, to $92.85 a barrel on the New York Mercantile Exchange, adding to earlier gains and keeping close to session highs.

Prices ticked higher as U.S. stocks also got a boost and following news that Germany’s parliament had approved the country’s participation in a rescue plan for Spanish banks.

Settlement around these levels would be the highest for crude since May 21 and the first finish above $90 since May 29.

A close in the black would also match the first seven-session winning run seen for crude since February.

Thursday’s rally is “based on broader sentiment rather than any improvement in the demand fundamentals of the crude market,” said Matt Smith, analyst with Summit Energy, in a note to clients.

A government report out Wednesday showed a third consecutive weekly decline in U.S. crude inventories.

Data released by the Energy Information Administration pegged the drop in stockpiles at 800,000 barrels for the week ended July 13, smaller than expected.

Headlines involving Syria and Iran also kept concerns about oil supplies in traders’ focus.

Israeli authorities on Wednesday charged Iran was behind a bombing at a resort in Bulgaria popular among Israelis.

The blasted killed at least seven people and injured others, and prompted Israel’s Prime Minister Benjamin Netanyahu to say Israel would respond with force.

And in Syria, three members of President Bashar al-Assad’s inner circle were killed in a bombing in Damascus.

Although Syria isn’t a major oil exporter, its proximity to countries that are has been enough to rattle markets.

Support for crude also came the dollar, which turned weaker as the session progressed. The ICE dollar index declined to 82.901 from 82.990 late Wednesday.

In other energy trading, gasoline for August delivery advanced 5 cents, or 1.6%, to $2.93 a gallon.

August natural-gas futures seesawed between small gains and losses, recently down less than 1 cent to $2.97 per million British thermal units.

Prices had turned higher after the government’s latest update on gas in storage.

The EIA reported natural-gas inventories rose 28 billion cubic feet in the week ended July 13.

Market participants expected an increase between 28 billion and 32 billion cubic feet for the week.

Brent crude $107.80 and U.S. crude $92.65 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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ICE: Speculators reverse bets against higher oil
« Reply #45 on: July 23, 2012, 10:39:32 pm »
ICE: Speculators reverse bets against higher oil
23 July 2012
, by Sarah Kent - London (Market Watch)
http://www.marketwatch.com/story/ice-speculators-reverse-bets-against-higher-oil-2012-07-23

-- Speculators upped net long position in Brent crude last week for first time since early July - ICE

-- CFTC also reported an increase in speculator's net long positions in Nymex last week

-- Oil prices rose 6% last week amid geopolitical tensions and expectations of monetary easing in the U.S.

Speculators in Brent crude upped their bets Brent prices would rise for the first time since the beginning of the month last week, according to the InterContinentalExchange Inc.'s weekly Commitment of Traders report published Monday
.

The move coincided with a week-long rally that saw Brent rise to its highest since late May as geopolitical tensions and hopes of further monetary stimulus in the U.S. helped lift prices, encouraging speculators to up their bets oil would continue to climb.

According to ICE, money managers, including hedge funds, held a net long position of 78,682 contracts in the week ended July 17, up 31%, from 60,004 in the week before and the highest this level has been since late May.

The net long position is the difference between the number of long positions, or bets that prices will rise, and short positions, or bets that prices will fall.

In the U.S., the Commodity Futures Trading Commission reported Friday that speculators in Nymex crude also upped their net long position, though by a much smaller 4%, last week.

This increase in bets on higher prices likely contributed to the 6% rise in oil prices last week, Commerzbank said in a note.

Brent crude $103.40 and U.S. crude $88.14 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Oil speculators trim bets on Brent price rise
« Reply #46 on: July 31, 2012, 12:51:43 am »
Oil speculators trim bets on Brent price rise
30 July 2012
, by Konstantin Rozhnov (Market Watch)
http://www.marketwatch.com/story/oil-speculators-trim-bets-on-brent-price-rise-2012-07-30

--Money managers reduced net long positions by 1.5% in the week ended July 24

--Focus on whether central banks will implement fiscal measures to boost economy

--Global monetary policy easing, Iran embargo to push oil higher in 3Q, analyst says



Brent crude $105.78 and U.S. crude $89.87 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Money managers lower bets oil will go higher
3 August 2012
, by Nicole Friedman - New York (Market Watch)
http://www.marketwatch.com/story/money-managers-lower-bets-oil-will-go-higher-2012-08-03

Money managers lowered their net long position in New York Mercantile Exchange crude-oil futures and options in the week ended July 31, according to data released Friday by the Commodity Futures Trading Commission.


Traders increase bets natural gas will go lower
3 August 2012
, by David Bird (Market Watch)
http://www.market watch.com/story/traders-increase-bets-natural-gas-will-go-lower-2012-08-03

Large, noncommercial traders raised their net short position in natural-gas futures on the New York Mercantile Exchange by 4.2% during the week ended July 31, the Commodity Futures Trading Commission reported Friday.

Brent crude $108.71 and U.S. crude $91.36 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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ICE: Net long Brent futures, options positions up
« Reply #48 on: August 06, 2012, 05:48:16 pm »
ICE: Net long Brent futures, options positions up
6 August 2012
, by Jenny Gross - London (Market Watch)
http://www.marketwatch.com/story/ice-net-long-brent-futures-options-positions-up-2012-08-06

Money managers increased their net long position in Brent crude oil futures and options in the week ended July 31, according to the IntercontinentalExchange Inc.'s weekly Commitment of Traders report published Monday.

Money managers, including hedge funds, held a net long position of 86,065 contracts, up 11% from 77,510 in the week before.

Traders in the category upped their long positions by 633 and cut their short positions by 7,922.

The net long position is the difference between the number of long positions, or bets that prices will rise, and short positions, or bets that prices will fall.

Open interest in crude-oil futures rose 18,206 to 1,434,166.

Elsewhere, speculators increased their holdings in gasoil, by 347 contracts to 38,148, the data showed.

ICE publishes the reports each week at 1100 GMT Mondays with data for the previous Tuesday.

The reports contain the same four categories of market participants used by the U.S. Commodity Futures Trading Commission: producers, swap dealers, managed money and other reportables.

ICE Futures Europe's COT reports include futures-only and futures-and-options-combined data, as well as open interest concentration among the contracts' largest traders.

Brent crude $109.65 and U.S. crude $91.93 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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U.S. retail gas prices surge 13.7 cents a gallon
« Reply #49 on: August 07, 2012, 09:49:15 am »
U.S. retail gas prices surge 13.7 cents a gallon
7 August 2012
, by Dan Strumpf - New York (Market Watch)
http://www.marketwatch.com/story/us-retail-gas-prices-surge-137-cents-a-gallon-2012-08-07

--Retail gasoline prices surge 13.7 cents

--Prices at highest since May

--Gasoline market hit by Midwest refinery issues


Brent crude $111.06 and U.S. crude $92.68 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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EIA increases price forecast for retail gasoline
« Reply #50 on: August 08, 2012, 03:05:05 pm »
EIA increases price forecast for retail gasoline
7 August 2012
, by Claudia Assis - San Francisco (Market Watch)
http://www.marketwatch.com/story/eia-increases-price-forecast-for-retail-gasoline-2012-08-07

The Energy Information Administration increased Tuesday its price forecast for retail gasoline to $3.53 a gallon on average for the year from $3.49 in the agency's July outlook.

The EIA kept its forecast for U.S. oil production at 6.3 million barrels a day, the highest production level since 1997.

Consumption fell, with demand for gasoline accounting for the bulk of the drop.

In the last two quarters of the year, however, the EIA said it expects a turnaround for energy consumption.

Brent crude $111.97 and U.S. crude $93.36 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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EIA cuts U.S. 2012 oil use outlook to 18.8 mln B/D
« Reply #51 on: August 08, 2012, 03:09:10 pm »
EIA cuts U.S. 2012 oil use outlook to 18.8 mln B/D
7 August 2012
, by Jerry A. DiColo - New York (Market Watch)
http://www.marketwatch.com/story/eia-cuts-us-2012-oil-use-outlook-to-188-mln-bd-2012-08-07

U.S. oil demand is expected to drop to 18.66 million barrels a day this year, the lowest level since 1997, according to government data released Tuesday.

The drop, projected by the U.S. Energy Information Administration in its monthly Short-Term Energy Outlook,

is an additional 20,000 barrels a day lower than the decline forecast a month ago.

Demand is expected to rise 0.2% to 18.72 million barrels a day in 2013.

Next year's forecast is down 30,000 barrels a day from the July report.

The EIA slashed its estimate for third-quarter demand by 170,000 barrels a day, or 0.9%, to 18.8 million barrels a day.

The fourth-quarter demand forecast fell to 18.8 million barrels a day from 18.82 million barrels a day.
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Offline Letsbereal

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California gasoline prices likely to go back to $4
« Reply #52 on: August 08, 2012, 03:11:28 pm »
California gasoline prices likely to go back to $4
7 August 2012
, by Claudia Assis - San Francisco (Market Watch)
http://www.marketwatch.com/story/california-gasoline-prices-likely-to-go-back-to-4-2012-08-07

Wholesale gasoline prices in California have jumped more than 30 cents in some areas of the state within hours of a late Monday fire in a Richmond refinery, and it's only a matter of time till consumers pay more at the pump.

Wholesale prices in the San Francisco Bay Area have increased by 31 cents and by about 25 cents in Southern California in the last day, from about $2.93 on average, said on Tuesday Tom Kloza, chief oil analyst with Oil Price Information Service.

The incident has potential to send retail gasoline prices in California up as much as 50 cents, and increases the likelihood California drivers will be paying more than $4 a gallon in the next week or so,

Kloza said. It won't last forever -- gasoline exports and diminished demand in September are likely to bring prices down.
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Offline Letsbereal

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Oil hits 3-month high above $114 on supply concern
« Reply #53 on: August 13, 2012, 07:28:37 am »
Oil hits 3-month high above $114 on supply concern
13 August 2012
, by Alex Lawler (Reuters)
http://www.reuters.com/article/2012/08/13/us-markets-oil-idUSBRE83H17O20120813

Oil rose above $114 per barrel on Monday to the highest in more than three months as concern about supplies and hopes that governments will roll out more stimulus measures trumped signs of weakening fuel demand.

Supply of the North Sea crudes underpinning the Brent crude contract is set to hit a record low.

Iranian output has been curbed by sanctions while an intensification of debate in Israel on whether to go to war with Iran over its nuclear work added to concern about disruption in Middle East supply.

Brent crude hit $114.46 a barrel, the highest since May 4, and by 0937 GMT was up $1.30 at $114.25. U.S. oil rose 60 cents to $93.47.

"The likelihood of some sort of intervention to stimulate economies is supporting the market," said Christopher Bellew, an oil broker at Jefferies Bache in London.

"Also, the North Sea, Iran and the Middle East are still a factor."

The supply concerns countered forecasts of weakening oil demand which have weighed on prices.

The International Energy Agency on Friday cut its 2013 oil demand forecast by 400,000 barrels per day, citing a slowdown in global economic activity.

"We are seeing prices rise despite weak growth outlook numbers on Friday," said Ben Le Brun, a Sydney-based market analyst at OptionsXpress.

"The Israeli comments, what you see in Israeli media, is a concern. A major concern."

Prime Minister Benjamin Netanyahu said on Sunday that most threats to Israel's security were "dwarfed" by the prospect of Iran obtaining nuclear weapons, which local media reports said Tehran had stepped up its efforts to achieve.

Brent is being supported in particular by a drop in output, sending the price of immediate supplies to a widening premium to oil for delivery later, a structure known as backwardation.

Output of the four North Sea crudes that underpin Brent will sink to a record low in September due to oilfield maintenance and natural decline.

Output from 11 North Sea production streams is set to fall by 17%.

On Monday, the premium at which the nearby Brent contract, currently September, trades against the second month jumped to $2.02, the highest since October 2011.

"The backwardation in Brent is very big. I think that's because of the North Sea," Bellew said.

Supply concerns and the prospect of further government stimulus including a further round of quantitative easing by the U.S. Federal Reserve is likely to support a continued premium for prompt supplies, say analysts.

"Exacerbated by the recent structural supply shortage in the North Sea*, Iran and other countries, we could see a period of super-backwardation, analysts at Bank of America Merrill Lynch said in a report.


"We also believe that further unconventional monetary easing will likely keep prices supported."

* 21 Feb. 2012 Coming soon: Brent trade with no Brent crude http://uk.reuters.com/article/2012/02/21/uk-shell-oil-brent-idUKTRE81K16T20120221

Recap:

10 August 2012 Managers more optimistic on oil futures - Money managers added to bets oil futures will go higher http://www.marketwatch.com/story/managers-more-optimistic-on-oil-futures-2012-08-10

09 August 2012 OPEC cuts production, warns of risks to oil demand http://www.marketwatch.com/story/opec-cuts-production-warns-of-risks-to-oil-demand-2012-08-09

09 August 2012 Margin Hiker-In-Chief Fires First Warning Shot As CME Raises Crude Oil Margins http://www.zerohedge.com/news/margin-hiker-chief-fires-first-warning-shoot-cme-raises-crude-oil-margins

07 August 2012 Oil supplies down 5.4 million barrels: trade group http://www.marketwatch.com/story/oil-supplies-down-54-million-barrels-trade-group-2012-08-07

07 August 2012 California gasoline prices likely to go back to $4 http://www.marketwatch.com/story/california-gasoline-prices-likely-to-go-back-to-4-2012-08-07

07 August 2012 EIA cuts U.S. 2012 oil use outlook to 18.8 mln B/D http://www.marketwatch.com/story/eia-cuts-us-2012-oil-use-outlook-to-188-mln-bd-2012-08-07

07 August 2012 EIA increases forecasts for 2012 oil prices http://www.marketwatch.com/story/eia-increases-forecasts-for-2012-oil-prices-2012-08-07-134855215

06 August 2012 ICE: Net long Brent futures, options positions up http://www.marketwatch.com/story/ice-net-long-brent-futures-options-positions-up-2012-08-06

Brent crude $114.47 and U.S. crude $93.68 now http://www.reuters.com/finance/[email protected]
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Offline bento

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Re: Brent crude $114.47 and U.S. crude $93.68 now
« Reply #54 on: August 13, 2012, 07:49:02 am »
WOW, you learn something every day, I never knew that concern was synonymous with scam. It is not a good time to be in the scam market(unless you are in on it).
We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much and the best of us is washed away.

Offline Letsbereal

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Speculators raise bets on rising crude prices
« Reply #55 on: August 13, 2012, 03:13:02 pm »
Speculators raise bets on rising crude prices
13 August 2012
, by Konstantin Rozhnov - London (Market Watch)
http://www.market watch.com/story/speculators-raise-bets-on-rising-crude-prices-2012-08-13

--Bets on higher Brent, Nymex crude prices increase in week ended Aug. 7

--Expectations of monetary easing, supply disruption fears attract speculators' money into oil

--Brent net long position likely to continue rising, analyst says


Brent crude $113.51 and U.S. crude $92.69 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Oil at three-month high after supply drop
« Reply #56 on: August 16, 2012, 04:36:56 am »
Oil at three-month high after supply drop - EIA data also sends gasoline, heating oil to multi-month highs
15 August 2012
, by Claudia Assis and Michael Kitchen - San Francisco (Market Watch)
http://www.market watch.com/story/oil-futures-fall-after-surprise-inventory-gain-2012-08-15

Excerpt:

Crude-oil futures on Wednesday settled at their highest in three months after the Department of Energy’s weekly report showed a larger-than-expected drop in crude supplies.

Oil had edged lower earlier in the wake of a trade group’s report that showed the opposite late Tuesday — an unexpected rise in crude inventories.

A mixed day for macroeconomic reports and a stronger dollar also took their toll on oil futures, but they reversed course after the official word on supplies.

Brent crude $114.51 and U.S. crude $94.31 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Brent crude $113.76 and U.S. crude $96.22 now
« Reply #57 on: August 18, 2012, 04:11:29 am »
Brent crude $113.76 and U.S. crude $96.22 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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What Recovery? Petroleum Deliveries Lowest Since September 2008
« Reply #58 on: August 18, 2012, 10:42:26 am »
What Recovery? Petroleum Deliveries Lowest Since September 2008; Weakest July Demand Since 1995
17 August 2012
, by Tyler Durden (zero Hedge)
http://www.zerohedge.com/news/what-recovery-petroleum-deliveries-lowest-september-2008-weakest-july-demand-1995
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Offline Letsbereal

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Oil Up Again - Brent crude $115.04 and U.S. crude $97.45 now
« Reply #59 on: August 22, 2012, 04:40:40 pm »
Spot The Similarity – A problem with increased difficulty*: World Economy – Oil Up Again – Spain – Greece – The Fourth Reich – Apple & Facebook – Fraud : Youri Carma
22 August 2012
, by Youri Carma (Max Keiser)
http://maxkeiser.com/2012/08/22/spot-the-similarity-a-problem-increased-difficulty-world-economy-spain-greece-the-fourth-reich-apple-facebook-fraud-youri-carma/

Brent crude $115.04 and U.S. crude $97.45 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Brent crude $109.53 and U.S. crude $90.11 now
« Reply #60 on: December 31, 2012, 06:22:24 am »
OPEC sees $1 trillion 2012 net oil revenue: report
30 December 2012
, (Market Watch)
http://www.marketwatch.com/story/opec-sees-1-trillion-2012-net-oil-revenue-report-2012-12-30

The Organization of the Petroleum Exporting Countries will reap more than $1 trillion in net oil revenue for 2012, the Financial Times reports Sunday.

The report said Brent oil prices would average about $111.50 for the year, higher than the previous record of $110.90 set in 2011.


Brent crude $109.53 and U.S. crude $90.11 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Oil above $91, but 2012 is steeped in red
« Reply #61 on: December 31, 2012, 01:33:03 pm »
Oil above $91, but 2012 is steeped in red
31 December 2012
, by Carla Mozee and Michael Kitchen - Los Angeles (Market Watch)
http://www.marketwatch.com/story/oil-ticks-higher-as-fiscal-cliff-approaches-2012-12-31

Crude-oil futures gained Monday, but the market will close with its first loss in four years and faces some uncertainty in early 2013 as the U.S. economy may be hit by automatic tax increases and spending cuts unless lawmakers reach a budget deal.


Brent crude $111.25 and U.S. crude $91.71 now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Brent crude $111.43 and U.S. crude $91.92 a barrel now
« Reply #62 on: January 01, 2013, 07:34:45 pm »
Brent crude $111.43 and U.S. crude $91.92 a barrel now http://www.reuters.com/finance/[email protected]

Time to keep an eye on oil prices again.
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Offline Letsbereal

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Brent crude $112.34 and U.S. crude $93.30 a barrel now
« Reply #63 on: January 02, 2013, 09:00:42 am »
Brent crude $112.34 and U.S. crude $93.30 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Oil futures end above $93, gain for the week
« Reply #64 on: January 05, 2013, 05:05:07 am »
Oil futures end above $93, gain for the week
4 January 2013
, by Myra P. Saefong and V. Phani Kumar - San Francisco (MarketWatch)
http://www.marketwatch.com/story/oil-futures-weighed-by-strong-us-dollar-2013-01-04


Brent crude $111.40 and U.S. crude $93.19 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Oil stays above $93
« Reply #65 on: January 08, 2013, 07:15:17 am »
Oil stays above $93, awaits supply, demand cues
7 January 2013
, by Myra P. Saefong and Sara Sjolin - San Francisco (MarketWatch)
http://www.marketwatch.com/story/oil-futures-weighed-by-strengthened-dollar-2013-01-07

Excerpt:

Oil futures finished with a small gain Monday, holding their ground above $93 a barrel, with the market considering a potential rebound in U.S. crude supplies and awaiting oil-demand cues as the corporate-earnings season kicks off this week.

Crude oil for February delivery added 10 cents, or 0.1%, to settle at $93.19 a barrel on the New York Mercantile Exchange.

That was the highest settlement price for the February contract since mid-October. Prices for front-month crude haven’t settled at a level that high since September, according to FactSet data.


Brent crude $112.25 and U.S. crude $93.57 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Oil Rises to Three-Month High
« Reply #66 on: January 10, 2013, 11:30:18 am »
Oil Rises to Three-Month High as China Exports Accelerate
10 January 2013
, by Moming Zhou (Bloomberg)
http://www.bloomberg.com/news/2013-01-10/oil-rises-to-three-month-high-as-china-exports-accelerate.html

Excerpt:

Oil rose to the highest level in three months as exports from China accelerated in December and European Central Bank President Mario Draghi said “a gradual recovery should start” in the region this year.

Prices advanced as much as 1.7 percent after China’s customs agency said overseas sales in the world’s second-largest fuel-consuming country jumped 14.1 percent last month from a year earlier. Oil also gained as the euro surged against the dollar on Draghi’s remarks.

“We are breaking out on the back of the incredibly strong export data from China that clearly argue for an enhanced demand picture for 2013,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy.

“The comments by Draghi about the economy are positive. The euro is mostly definitely helping oil.”

Crude oil for February delivery gained 86 cents, or 0.9 percent, to $93.96 a barrel at 11:17 a.m. on the New York Mercantile Exchange after climbing to $94.70,

the highest intraday level since Sept. 19.

Trading volume was 84% more than the 100-day average.

Brent oil for February settlement increased 44 cents, or 0.4 percent, to $112.20 a barrel on the London-based ICE Futures Europe exchange.

Volume was 75% above the 100-day average. Brent’s premium to New York futures narrowed to $18.24 a barrel from $18.66 yesterday.


Brent crude $112.21 and U.S. crude $93.97 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Oil climbs back above $94/barrel
« Reply #67 on: January 14, 2013, 07:42:56 am »
Oil climbs back above $94/barrel
14 January 2013
, by V. Phani Kumar - Hong Kong (MarketWatch)
http://www.marketwatch.com/story/oil-climbs-back-above-94barrel-2013-01-14

Crude-oil futures climbed past $94 a barrel in electronic trading Monday, underpinned by the dollar’s weakness and mild gains for U.S. equity futures.

Futures on light sweet crude for delivery in February climbed 66 cents, or 0.7%, to $94.22 a barrel by mid-afternoon in Hong Kong.

They took back more than the 26-cent loss suffered in a regular New York Mercantile Exchange session Friday.

The ICE dollar index, which measures the greenback’s performance against a basket of six major global currencies, fell to 79.412 from 79.566 in North America late on Friday,

providing support to the commodities complex.

Meanwhile, Dow Jones Industrial Average  futures climbed 7 points, or 0.1%, to 13,440, while S&P 500 futures gained 0.1% to 1,469.10.

The advance also came as mainland Chinese stocks soared on Monday, led by strong gains for financial stocks.

Read Asia Markets http://www.marketwatch.com/story/china-stocks-rise-as-asia-trades-mixed-2013-01-13

February heating-oil futures rose 0.4% to $3.02 a gallon and natural-gas futures for delivery in the same month added 1.1% to $3.36 per million British thermal units.

The February contract for gasoline inched 0.1% higher to $2.74 per gallon.
 

Brent crude $111.24 and U.S. crude $93.94 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Oil Trades Near Highest in Four Months
« Reply #68 on: January 15, 2013, 10:02:07 am »
Oil Trades Near Highest in Four Months on Colder Weather
15 January 2013
, by Grant Smith (Bloomberg)
http://www.bloomberg.com/news/2013-01-15/oil-trades-near-four-month-high-on-u-s-economy-colder-weather.html

Excerpt:

Oil traded near the highest level in almost four months in New York before reports that may show the economy recovering in the U.S. and as lower temperatures buoy demand for heating fuels.

West Texas Intermediate was little changed after climbing 0.6% yesterday.

The U.S. East Coast and Midwest will be 5 degrees Fahrenheit (2.8 Celsius) below normal from Jan. 19 to Jan. 23, according to Commodity Weather Group LLC in Bethesda, Maryland.

“Colder weather is helping the energy complex,” said Andrey Kryuchenkov, an analyst at VTB Capital in London, who predicts WTI may remain capped at about $95.60 a barrel.

The global oil market looks evenly balanced.”

Brent for February settlement was at $111.58 a barrel, down 30 cents, on the London-based ICE Futures Europe exchange.

Also see:

L.A. gasoline prices up on supply http://forum.prisonplanet.com/index.php?topic=240677.0

OPEC oil output falls in December - Global supply has been running above demand for many months http://forum.prisonplanet.com/index.php?topic=240678.0

French power group GDF Suez mulls shutting down more plants due to falling demand and lower profitability - Drop in imported U.S. coal prices http://forum.prisonplanet.com/index.php?topic=240676.0

Lufthansa foresees lower fuel expenses in 2013 http://forum.prisonplanet.com/index.php?topic=240679.0

Brent crude $111.45 and U.S. crude $93.94 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Oil Rises as U.S. Inventories 'Unexpectedly' Decrease
« Reply #69 on: January 16, 2013, 02:26:51 pm »
Oil Rises as U.S. Inventories Unexpectedly Decrease
16 January 2013
, by Moming Zhou (Bloomberg)
http://www.bloomberg.com/news/2013-01-16/oil-fluctuates-as-supply-gains-while-growth-forecast-cut.html

Excerpt:

Oil rose in New York on an unexpected drop in U.S. inventories as imports declined for the fourth time in five weeks and petroleum consumption increased.

Prices gained as much as 1.2% after the Energy Information Administration, the Energy Department’s statistical arm, said stockpiles fell 951,000 barrels last week.

They were expected to climb 2.2 million barrels, according to the median of 11 analyst estimates in a Bloomberg survey.

Consumption rebounded from the lowest level since March.

Brent crude $109.53 and U.S. crude $90.11 - 31 Dec. 2012
Brent crude $111.43 and U.S. crude $91.92 - 01 Jan. 2013
Brent crude $112.34 and U.S. crude $93.30 - 02 Jan. 2013
Brent crude $112.25 and U.S. crude $93.57 - 08 Jan. 2013
Brent crude $112.21 and U.S. crude $93.97 - 10 Jan. 2013
Brent crude $111.45 and U.S. crude $93.94 - 15 Jan. 2013

Brent crude $110.60 and U.S. crude $94.16 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Brent crude $110.92 and U.S. crude $95.18 a barrel now
« Reply #70 on: January 17, 2013, 05:42:08 pm »
Brent crude $110.92 and U.S. crude $95.18 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Annual Gasoline Usage in Millions of Barrels
« Reply #71 on: January 18, 2013, 06:54:06 am »
Annual Gasoline Usage in Millions of Barrels
18 Janauary 2013
, by Mike Shedlock (MISH'S Global Economic Trend Analysis)
http://globaleconomicanalysis.blogspot.nl/2013/01/annual-gasoline-usage-in-millions-of.html

Inquiring minds are once again taking a look at annual gasoline sales in the United States.

Reader Tim Wallace provides the following chart for discussion.



click on chart for sharper image

Data is from the US Energy Information Administration (EIA) Weekly Petroleum Report
http://www.eia.gov/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/wpsr.html

Tim writes ...

Hello Mish

Data for the chart is taken from the weekly reports I like to use, and its trend is accurate.

The current downturn happened back in 2007 in gasoline, and it is one of the things I saw that got me out of the market.

I cannot see an improved economy from these numbers, and the numbers also cannot be explained by "higher mileage" vehicles - the impact would be some,

but not as major as we see here, with usage numbers now back to 2001 levels.

The drops in the past two years can only be explained by less driving, which also would mean less wear and tear on the roads and therefore less spending.

Interestingly, I have seen a lot of repaving of roads that are perfectly serviceable. So why pave them?

And talking about paying for things that you use ... You and I both know that the highways North of the Mason-Dixon line eat up much more tax dollars as the weather in winter tears them apart.

Therefore y'all up there should have a much higher fee than those in the South here who use much less of the federal spending pie!

Just sayin'!

Tim


Hi Tim. Thanks for reminding those of us in the great state of Illinois that we should be paying even more for our services!

I am sure governor Pat Quinn would be more than happy to oblige overpaid unions by hiking our taxes more.

Kidding aside, Tim was referring to my post ObamaMiles Tax Coming Soon; Transportation "Trust Fund" Broke; Scheme to Boost Taxes 250%; Mindless Possibilities
http://globaleconomicanalysis.blogspot.com/2013/01/obamamiles-coming-soon-transportation.html

Readers may also wish to consider European Car Demand Near 20-Year Low; Peugeot Workers Shut Down French Plant; GM Loses Global Car Sales Lead to Toyota Once Again
http://globaleconomicanalysis.blogspot.com/2013/01/european-car-demand-near-20-year-low.html


Brent crude $110.66 and U.S. crude $95.23 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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Saudi Arabia, Iraq Cut Oil Exports in November
« Reply #72 on: January 21, 2013, 01:50:30 pm »
Saudi Arabia, Iraq Cut Oil Exports in November, JODI Show
20 January 2013
, by Wael Mahdi (Bloomberg)
http://www.bloomberg.com/news/2013-01-20/saudi-arabia-iraq-cut-oil-exports-in-november-jodi-show.html

Saudi Arabia exported 1.7%t less crude in November than in the previous month, while Iraq and five other OPEC producers also curbed shipments, according to the Joint Organizations Data Initiative.

The kingdom, the largest producer in the Organization of Petroleum Exporting Countries, shipped 7.15 million barrels a day in November as it reduced monthly output by 2.4% to 9.49 million barrels a day.

Iraq, with the second-biggest producer in OPEC, trimmed its exports by 3.3% to 2.62 million barrels a day even as it pumped 1.7% more oil, data posted today on the initiative’s website showed.

Angola cut crude exports by 5.6%, the United Arab Emirates pared shipments by 3.1%, and Qatar, Ecuador and Venezuela also reduced exports, the data showed.

Algeria’s shipments surged 42% in November to 725,000 barrels a day, while its production slipped 2.7%, according to the initiative known as JODI.

OPEC, which supplies about 40% of the world’s crude, said in a monthly report on Jan. 16 that its total output in December dropped by 465,000 barrels a day to 30.4 million, the lowest level since October 2011.

Saudi Arabia led the decrease in December, the 12-member group said, citing secondary sources.

OPEC’s figure for production last month is 800,000 barrels a day more than what the group estimates it will need to supply to consumers in 2013.

Burning Crude

JODI, supervised by the Riyadh-based International Energy Forum, uses statistics supplied by national governments to compile data on production, imports and exports for oil- producing and consuming nations.

The data include crude and condensates and exclude natural gas liquids.

Saudi Arabia used less crude as fuel in power plants in November, burning 367,000 barrels a day, the lowest level since last March and a 23% reduction from a year ago, according to JODI.

The country also reduced its consumption of diesel and fuel oil in November, two other fuels used in power stations, the data showed.

Refineries in the kingdom processed 1.78 million barrels a day of crude that month, 53,000 barrels a day more on average than in October, according to the initiative.

Kuwait, Iran, Nigeria, and Libya didn’t submit data for the month.


Brent crude $109.53 and U.S. crude $90.11 – 31 Dec. 2012
Brent crude $111.43 and U.S. crude $91.92 – 01 Jan. 2013
Brent crude $112.34 and U.S. crude $93.30 – 02 Jan. 2013
Brent crude $112.25 and U.S. crude $93.57 – 08 Jan. 2013
Brent crude $112.21 and U.S. crude $93.97 – 10 Jan. 2013
Brent crude $111.45 and U.S. crude $93.94 – 15 Jan. 2013
Brent crude $110.60 and U.S. crude $94.16 – 16 Jan. 2013
Brent crude $110.92 and U.S. crude $95.18 – 17 Jan. 2013
Brent crude $110.66 and U.S. crude $95.23 – 18 Jan. 2013
Brent crude $111.82 and U.S. crude $95.47 a barrel now http://www.reuters.com/finance/[email protected]

They’re wringing our neck!
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Offline Letsbereal

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Oil ends above $96 - February crude contract expires above $96
« Reply #73 on: January 23, 2013, 08:30:25 am »
Oil ends above $96 - February crude contract expires above $96 a barrel http://www.marketwatch.com/story/oil-futures-waver-near-95-a-barrel-2013-01-22

Delta Air Lines net drops on high fuel costs http://www.marketwatch.com/story/delta-air-lines-net-drops-on-high-fuel-costs-2013-01-22

Nebraska governor approves Keystone XL state route http://www.marketwatch.com/story/nebraska-governor-approves-keystone-xl-state-route-2013-01-22

Shell opens its largest grease plant in China http://www.marketwatch.com/story/shell-opens-its-largest-grease-plant-in-china-2013-01-22

Traders Plan Gasoline, Diesel Freight Swaps as U.S. Drives Rally http://www.bloomberg.com/news/2013-01-23/traders-plan-gasoline-diesel-freight-swaps-as-u-s-drives-rally.html

Brent crude $109.53 and U.S. crude $90.11 – 31 Dec. 2012
Brent crude $111.43 and U.S. crude $91.92 – 01 Jan. 2013
Brent crude $112.34 and U.S. crude $93.30 – 02 Jan. 2013
Brent crude $112.25 and U.S. crude $93.57 – 08 Jan. 2013
Brent crude $112.21 and U.S. crude $93.97 – 10 Jan. 2013
Brent crude $111.45 and U.S. crude $93.94 – 15 Jan. 2013
Brent crude $110.60 and U.S. crude $94.16 – 16 Jan. 2013
Brent crude $110.92 and U.S. crude $95.18 – 17 Jan. 2013
Brent crude $110.66 and U.S. crude $95.23 – 18 Jan. 2013
Brent crude $111.82 and U.S. crude $95.47 – 21 Jan. 2013
Brent crude $112.23 and U.S. crude $96.30 a barrel now http://www.reuters.com/finance/[email protected]
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Offline Letsbereal

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OPEC to Cut Shipments as Asian Demand Ebbs, Oil Movements Says
« Reply #74 on: January 25, 2013, 05:47:41 am »
OPEC to Cut Shipments as Asian Demand Ebbs, Oil Movements Says
24 January 2013
, by Grant Smith (Bloomberg)
http://www.bloomberg.com/news/2013-01-24/opec-to-cut-shipments-as-asian-demand-ebbs-oil-movements-says.html

The Organization of Petroleum Exporting Countries will reduce shipments through to early February as late winter demand fails to materialize in Asia, according to tanker tracker Oil Movements.

The group that supplies about 40% of the world’s oil will export 23.7 million barrels a day in the four weeks to Feb. 9, down 150,000 barrels, or 0.6%, from the previous period, the researcher said today in an e-mailed report.

Shipments normally climb at this time of the year with the last phase in winter demand in the northern hemisphere, according to the consultant. The figures exclude Angola and Ecuador.

“The second winter peak isn’t happening,” Roy Mason, the company’s founder, said by phone from Halifax, England.

“The tanker market is moribund. You wouldn’t normally expect it to be soaring, but it should be going up not down as it’s still winter in the Far East.”

Japan’s oil purchases dropped 0.8% in December from a year earlier to 19.7 million kiloliters, according to preliminary data from the Ministry of Finance.

OPEC production dropped to the lowest level in 14 months in December because of a 4% supply cut by Saudi Arabia, data from the group’s monthly report on Jan. 16 showed.

Brent traded today at about $113 a barrel on the ICE Futures Europe exchange in London.

Middle East shipments will decrease 0.7% to 17.4 million barrels a day in the period, compared with 17.52 million in the four weeks to Jan. 12, according to Oil Movements.

That figure includes non-OPEC members Oman and Yemen.

Crude on board tankers will average 467.6 million barrels, down 1.5% on the previous period, the data show.

Oil Movements calculates the volumes by tallying tanker bookings. Its figures exclude crude held on vessels for storage.

OPEC comprises Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.

The organization is next scheduled to meet in May.


Brent crude $111.43 and U.S. crude $91.92 – 01 Jan. 2013
Brent crude $112.34 and U.S. crude $93.30 – 02 Jan. 2013
Brent crude $112.25 and U.S. crude $93.57 – 08 Jan. 2013
Brent crude $112.21 and U.S. crude $93.97 – 10 Jan. 2013
Brent crude $111.45 and U.S. crude $93.94 – 15 Jan. 2013
Brent crude $110.60 and U.S. crude $94.16 – 16 Jan. 2013
Brent crude $110.92 and U.S. crude $95.18 – 17 Jan. 2013
Brent crude $110.66 and U.S. crude $95.23 – 18 Jan. 2013
Brent crude $111.82 and U.S. crude $95.47 – 21 Jan. 2013
Brent crude $112.23 and U.S. crude $96.30 – 23 Jan. 2013
Brent crude $113.66 and U.S. crude $96.33 a barrel now http://www.reuters.com/finance/[email protected]


OIL – WHAT’S HAPPENING HERE?

Despite a deepening crises and a decline of oil demand OIL PRICES GO UP!!!

Somebodies doing somtin slick, yeah they are! ‘sGot me wondering, which is which?

Dig a dig ain’t that a bitch! http://www.youtube.com/watch?feature=player_detailpage&v=_UuiIIMUJTk#t=977s

Perhaps ...


Citi analyst Tom Fitzpatrick: Oil Set To Super-Spike 63%, Crushing Global Stock Markets
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/25_Oil_Set_To_Super-Spike_63%2C_Crushing_Global_Stock_Markets.html
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Offline Letsbereal

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Dan Norcini explains why oil is high while fundamentals lack
« Reply #75 on: January 26, 2013, 03:57:40 pm »
Dan Norcini explains on the weekly KWN’s Metals Wrap (after Bill Haynes) why oil is high while fundamentals lack

‘The recovery bandwagon’ and loads of funny money
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2013/1/26_KWN_Weekly_Metals_Wrap.html

Like Faber Said: “Everything can go higher if you print money”
http://www.bloomberg.com/video/marc-faber-on-investment-strategy-markets-L6NkYG4bQH2A1G63CmNwiQ.html
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Offline Letsbereal

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Oil climbs back above $96
« Reply #76 on: January 28, 2013, 08:22:32 pm »
Oil climbs back above $96 on Mideast tensions - Traders weigh demand outlook after mixed data; natural gas sinks
28 January 2013
, by Myra P. Saefong and Sara Sjolin - San Francisco (MarketWatch)
http://www.marketwatch.com/story/oil-wobbles-around-9590-stronger-dollar-weighs-2013-01-28

Crude-oil futures climbed Monday to settle above $96 a barrel as unrest in the Middle East fed supply concerns, and as traders weighed the outlook for energy demand against mixed U.S. economic data.

Brent crude $109.53 and U.S. crude $90.11 - 31 Dec. 2012
Brent crude $111.43 and U.S. crude $91.92 – 01 Jan. 2013
Brent crude $112.34 and U.S. crude $93.30 – 02 Jan. 2013
Brent crude $112.25 and U.S. crude $93.57 – 08 Jan. 2013
Brent crude $112.21 and U.S. crude $93.97 – 10 Jan. 2013
Brent crude $111.45 and U.S. crude $93.94 – 15 Jan. 2013
Brent crude $110.60 and U.S. crude $94.16 – 16 Jan. 2013
Brent crude $110.92 and U.S. crude $95.18 – 17 Jan. 2013
Brent crude $110.66 and U.S. crude $95.23 – 18 Jan. 2013
Brent crude $111.82 and U.S. crude $95.47 – 21 Jan. 2013
Brent crude $112.23 and U.S. crude $96.30 – 23 Jan. 2013
Brent crude $113.66 and U.S. crude $96.33 - 25 Jan. 2013
Brent crude $113.57 and U.S. crude $96.65 a barrel now http://www.reuters.com/finance/[email protected]

U.S. Crude has gone up a whopping $6.50 a barrel since 31 December 2012 when U.S, crude was $90.11.
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Offline Letsbereal

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BP's Libya drilling on hold: report
27 January 2013
, (MarketWatch)
http://www.marketwatch.com/story/bps-libya-drilling-on-hold-report-2013-01-27-124854543

Plans for BP to begin drilling for oil and gas in Libya are in serious doubt in the aftermath of the terrorist attack on its gas production plant in neighboring Algeria, the Sunday Telegraph reports.

The newspaper said a BP spokesman told it: "We were due to drill in the second half of this year but we are now reviewing that as a result of the situations in Algeria and Benghazi."

BP signed a $900 million exploration and production agreement with Libya's National Oil Corp. in 2007 but suspended the contract in February 2011 because of the civil war that eventually led to the overthrow of Colonel Muammer Gaddafi, the Sunday Telegraph said.
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Offline Letsbereal

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Oil ends above $97
« Reply #78 on: January 29, 2013, 04:45:04 pm »
Oil ends above $97 on Mideast unrest, supply fears
29 January 2013
, by Myra P. Saefong and Sara Sjolin - San Francisco (MarketWatch)
http://www.marketwatch.com/story/oil-futures-inch-higher-on-supply-concerns-2013-01-29

Oil futures topped $97 a barrel on Tuesday, settling at their highest since September, as unrest in the Middle East and a refinery closure on the U.S. East Coast stoked supply concerns ahead of the latest updates on the nation’s petroleum supplies.
 

Brent crude $109.53 and U.S. crude $90.11 - 31 Dec. 2012
Brent crude $111.43 and U.S. crude $91.92 – 01 Jan. 2013
Brent crude $112.34 and U.S. crude $93.30 – 02 Jan. 2013
Brent crude $112.25 and U.S. crude $93.57 – 08 Jan. 2013
Brent crude $112.21 and U.S. crude $93.97 – 10 Jan. 2013
Brent crude $111.45 and U.S. crude $93.94 – 15 Jan. 2013
Brent crude $110.60 and U.S. crude $94.16 – 16 Jan. 2013
Brent crude $110.92 and U.S. crude $95.18 – 17 Jan. 2013
Brent crude $110.66 and U.S. crude $95.23 – 18 Jan. 2013
Brent crude $111.82 and U.S. crude $95.47 – 21 Jan. 2013
Brent crude $112.23 and U.S. crude $96.30 – 23 Jan. 2013
Brent crude $113.66 and U.S. crude $96.33 - 25 Jan. 2013
Brent crude $113.57 and U.S. crude $96.65 - 28 Jan. 2013
Brent crude $114.11 and U.S. crude $97.32 a barrel now http://www.reuters.com/finance/[email protected]

U.S. Crude has gone up a whopping $7.21 a barrel since 31 December 2012 when U.S. crude was $90.11.
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Offline Letsbereal

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Despite larger-than-expected crude inventories oil still went up today
« Reply #79 on: January 30, 2013, 06:24:26 am »
U.S. oil supplies up over 4 million barrels: API
29 January 2013
, by Myra P. Saefong - San Francisco (MarketWatch)
http://www.marketwatch.com/story/us-oil-supplies-up-over-4-million-barrels-api-2013-01-29

Crude-oil supplies rose more than expected for the week ended Jan. 25, and gasoline supplies unexpectedly climbed, according to data from the American Petroleum Institute issued late Tuesday.
 
Oil recovers from inventory-report weakness
30 January 2013
, by Michael Kitchen - Los Angeles (MarketWatch)
http://www.marketwatch.com/story/oil-recovers-from-inventory-report-weakness-2013-01-30

Benchmark U.S. crude-oil futures recovered from early Wednesday losses to sit flat in electronic trade, despite data showing larger-than-expected crude inventories.


Brent crude $109.53 and U.S. crude $90.11 - 31 Dec. 2012
Brent crude $111.43 and U.S. crude $91.92 – 01 Jan. 2013
Brent crude $112.34 and U.S. crude $93.30 – 02 Jan. 2013
Brent crude $112.25 and U.S. crude $93.57 – 08 Jan. 2013
Brent crude $112.21 and U.S. crude $93.97 – 10 Jan. 2013
Brent crude $111.45 and U.S. crude $93.94 – 15 Jan. 2013
Brent crude $110.60 and U.S. crude $94.16 – 16 Jan. 2013
Brent crude $110.92 and U.S. crude $95.18 – 17 Jan. 2013
Brent crude $110.66 and U.S. crude $95.23 – 18 Jan. 2013
Brent crude $111.82 and U.S. crude $95.47 – 21 Jan. 2013
Brent crude $112.23 and U.S. crude $96.30 – 23 Jan. 2013
Brent crude $113.66 and U.S. crude $96.33 - 25 Jan. 2013
Brent crude $113.57 and U.S. crude $96.65 - 28 Jan. 2013
Brent crude $114.11 and U.S. crude $97.32 - 29 Jan. 2013
Brent crude $115.10 and U.S. crude $98.16 a barrel now http://www.reuters.com/finance/[email protected]

Despite larger-than-expected crude inventories oil still went up today.

U.S. Crude has gone up a whopping $8.00 a barrel since 31 December 2012 when U.S. crude was $90.11.



Crude supplies up nearly 6 million barrels: EIA http://www.marketwatch.com/story/crude-supplies-up-nearly-6-million-barrels-eia-2013-01-30

E.ON cuts outlook on tough European energy market http://www.marketwatch.com/story/eon-cuts-outlook-on-tough-european-energy-market-2013-01-30-7485934

Brazil’s Petrobras to raise gas and diesel prices http://www.marketwatch.com/story/petrobras-to-raise-gas-and-diesel-prices-2013-01-29
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