Crude continues to drop
Prices drop by 12% last week on dour economic dataAfter rallying for four previous sessions, crude oil prices ended lower for the fourth consecutive day today on Friday, 09 January, 2009 ... , crude-oil futures for light sweet crude for February delivery closed at $40.83/barrel (lower by $0.87 [more...]
Date: 2009-01-12 02:24:00
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Videos
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Green Ink: Pricey Nukes and Supervolcanoes
paper Crude oil futures jumped above $50 after Kuwait and Qatar said they would trim January oil shipments, ... . But oil prices are still low enough to cause pain to big producers, like Venezuela, which has scrapped its $100 million heating-fuel giveaway to U.S. consumers, in the WSJ (sub reqd.). Where is Big [more...]
Date: 2009-01-06 13:00:44
Crude Reaction: Oil Prices Fall on Dismal U.S. Growth
The oil market took a look at U.S. growth figures and decided they weren’t just ugly—they were a double-bagger. [ Bagger_art_200v_20081030130104 ... .jpg You’ve got company (AP) Crude futures, which had risen for two days on the back ... anytime soon,” said Phil Flynn, senior trader at Alaron Trading Corp. in Chicago. “After yesterday’ [more...]
Date: 2008-10-30 08:03:00
Green Ink: Detroit’s Electric Dance, and Google’s Dirty Searches
paper Crude oil futures slumped to $38 in early trading Monday amid fears that lower OPEC production won’t be enough to counter cratering global demand for oil, Bloomberg reports. With oil prices (and valuations) falling, Exxon is sitting ... profiles “Bidder 70,” the environmental activist who waylaid the Utah oil-and-gas lease auction [more...]
Date: 2009-01-12 16:14:00
Falling Down: Enviros Shouldn?t Sweat Lower Oil Prices
Falling oil prices generally aren’t good news for environmentalists ... question is how far oil can fall, and if that will be enough. Crude futures dropped below $90 a barrel ... to get cash to speculate in oil, or any other commodities market. OPEC president Chakib Khelil said [more...]
Date: 2008-10-06 19:55:00
Deputy finance minister’s head in the sand
4 December, 2008 General News/Issues Source : Malaysiakini Deputy finance minister’s head in the sand Charles Santiago | Dec 4, 08 2: ... slashed, future orders cut down to critical levels and retrenchments are being planned. Job losses ... palm and other commodity prices. Crude oil prices dropped to a three-year-low to US$48 yesterday [more...]
Date: 2008-12-04 07:39:45
Free Fall: Oil Price Plummets to Near $63
Even after taking the weekend to digest OPEC’s announced production cut Friday, oil markets aren’t impressed. Crude oil futures kept falling Monday, approaching $63 a barrel and marking their lowest prices ... . “Fear is the word,” one broker told Bloomberg. [more...]
Date: 2008-10-27 16:36:41
Corn v. Crude
Why are corn and oil prices rising in tandem? I've become a bit obsessive about oil prices -- I check them online several times each day, just out of habit. But most other commodities remain something of a mystery to me. I keep ... from the phenomenally helpful futuresource.com, comparing the rise in recent futures contracts for corn [more...]
Date: 2008-07-15 22:42:50
Crude Oil Industry Headline News
"Crude Oil Up But Seesaws On Gaza, Russia, Dollar"U.S ... forward curve of futures contracts traded on the New York....Complete Story"Iran Says OPEC to Hold ... . crude oil futures edged upbut trading seesawed on Monday as a stronger dollar brought prices down [more...]
Date: 2009-01-05 16:14:00
Oil Ink: OPEC Slashes Output, Crude Price Falls
OPEC did exactly what it promised in Vienna, slashing oil output by 1 ... two years and crude futures fell to $63 in New York. With global demand for oil retrenching ... the cartel’s official forecasts. The Washington Post quotes the Qatari oil minister saying “We hate [more...]
Date: 2008-10-24 12:24:06
Energy prices rise as Gaza conflict escalates
Crude futures prices rose again Jan. 5 as the conflict in Gaza continues to escalate, said analysts with Raymond James & Associates Inc ... blending rose 7.l9¢ to $1.18/gal on NYMEX. Heating oil for the same month climbed 9.6¢ to $1.576/gal ... . Also boosting oil prices, analysts said, was news that Kuwait, the Organization of Petroleum [more...]
Date: 2009-01-07 11:52:09
Bush Ends Executive Ban on Off-Shore Drilling and Oil Prices Drop 7% in two trading sessions
June 20, 2008 — USA Today: Democrat Barack Obama’s campaign released remarks he plans to make at the start of a news conference in ... of futures trading in commodities. – WLS ... on July 14 — $145.18. Price of oil at close on July 16 — $134.60. “Crude-oil futures tumbled $4.14 [more...]
Date: 2008-07-17 00:34:34
Oil rises above $58 on heating oil, gas futures
Light, sweet crude for December delivery gained 60 cents to $58.20 a barrel on the New York Mercantile Exchange. Jim Ritterbusch, president of energy consultants Ritterbusch and Associates, said oil prices have been driven recently by equity and currency markets, but it appears some fundamentals are now driving price movement [more...]
Date: 2008-11-17 19:10:24
Oil Prices Fell to Close to $US40 as Gold Price Rises
Oil prices fell to close to $US40 on Friday after a highly volatile trading week as new US data showed rising unemployment and deepening recession in the world’s biggest oil consuming nation. The benchmark contract, light sweet crude ... futures added 0.0805 cents to $US1.5595 a pound. [more...]
Date: 2009-01-12 01:09:58
Crude Oil Contango, And Not A Tanker To Be Found
Crude oil is currently in contango as futures are trading at a significant premium to spot prices (see WSJ article). As of yesterday's close, spot prices were around $43 a barrel as May futures were trading near $50 a barrel. Unfortunately, to profit from the difference, you need to store the crude somewhere, yet [more...]
Date: 2009-01-09 14:52:52
Media Hyped Gustav Fizzles Out, Oil and Gas Prices Plummet
For almost a week, practically foaming at the mouth media members scared the heck out of the American people presaging doom and gloom in New Orleans ... .'' ... Crude-oil futures for October delivery fell $7.04, or 6.1 percent, to $108.42 a barrel at 11:42 ... as well as rising oil and gas prices all at the hands of a hurricane that hadn't even entered [more...]
Date: 2008-09-02 18:35:29
Whadda ya bet the price of gas goes up anyway
Last update: 3:50 p.m. EST Jan. 7, 2009 Comments: 89 NEW YORK (MarketWatch) ... started collecting Cushing data. On the Nymex, February heating oil futures fell 5.1% to $1.5431 ... -- Crude-oil futures tumbled 12% Wednesday, marking their biggest one-day percentage drop [more...]
Date: 2009-01-07 22:11:28
Oil sinks again, but market tries to draw line at $60 a barrel
The crude oil market looks as if it’s trying to make a stand at the $60-a-barrel level, raising questions about how much lower gasoline prices might go. Near-term oil futures fell ... materials. The price then bounced up to $63 by 11 a.m. PST, only to fall back again. Futures ended [more...]
Date: 2008-11-06 21:08:58
Green Ink: The Energy Debate
paper Crude oil futures rebounded Wednesday from an early stumble after central banks in the U.S., U.K ... . Even though oil prices are well below their July high, U.S. homeowners can still expect to pay 15% more this winter in heating bills, reports the WSJ (sub reqd.). The second presidential debate [more...]
Date: 2008-10-08 14:23:31
Are Speculators Really That Bad for Commodities Markets? (pfblogs.org)
David Enke submits: Commodity index investors (ie, speculators) sold $39 billion worth of crude oil futures between the July market peaks and September 2nd, a time that saw a rapid sell-off in crude oil prices (see Independent.iearticle).Complete Story » ... [more...]
Date: 2008-09-12 11:41:59
Oil recovers with Dow rally
NEW YORK (CNNMoney.com) -- The daily survey from motorist group price of oil on Monday reversed AAA. Prices peaked at $4 ... , have already started cutting back founder of commodities brokerage on oil use, said Cordier ... has already taken investors sold off crude futures place, and it's going to take a as stock indexes around [more...]
Date: 2009-01-03 17:17:35
Crude drops for fifth straight day
Prices drop by more than 7% on demand concernsAfter rallying for four previous sessions, ... Monday, crude-oil futures for light sweet crude for February delivery closed at $37.59/barrel (lower ... reformulated gasoline sank 2.4% to $1.0841 a gallon, while February heating oil lost 2.1% to $1.4877 [more...]
Date: 2009-01-13 02:42:00
Oil jumps 14 percent, products up
Oil jumps 14 percent, products up NEW YORK (Reuters) ... supply this winter. U.S. crude oil futures for February settled up $5.57 to $44.60 per barrel, but down ... on production rates to try to boost margins. As heating oil and gasoline prices are rallying, crude [more...]
Date: 2008-12-31 20:53:31
CFTC Report on High Oil Prices - "Speculation My A$$"
With a pending Senate vote on the "Stop Excessive Energy Speculation Act", it seems that we (not the TOD 'we', but the collective society 'we') ... . In this report, the Commodity Futures Trading Commission (CFTC), threw cold water on the recent ... , activity on the crude oil futures market – as measured by the number of contracts outstanding, trading [more...]
Date: 2008-07-23 14:47:59
Green Ink: OPEC?s Impotence and a Nuclear Revival
paper Crude oil futures plunged to $63 despite OPEC’s 1 ... to tighten supplies. More on OPEC’s decision here. Falling oil prices may be pinching big oil ... a $2 trillion piggybank, in the WaPo. Mexico is scrambling to increase production, but new oil laws [more...]
Date: 2008-10-24 13:41:45
Oil prices mixed on bleak economic outlook
Oil prices were mixed in Asian trade on Monday on continuing worries about the weak global economy, analysts said. New York’s main futures contract, light sweet crude for February delivery, was down 27 cents to 40.56 dollars a barrel on the New York Mercantile Exchange. Brent North Sea crude for February [more...]
Date: 2009-01-12 06:48:19
Green Ink: Detroit’s Back (Begging)
paper Crude oil futures held steady below $50 on fears of a prolonged recession, Bloomberg reports. While OPEC hasn’t yet managed to prop up falling oil prices, what would the new unofficial target of $75 mean?, asks Energy Outlook. It would offer oil-producing states some budget relief, would [more...]
Date: 2008-12-02 13:26:14
Oil Squeeze? Blame Yourself
The Journal’s Russell Gold reports: When it comes to the price of crude oil and gasoline, who is in the driver’s seat? One common answer is no one ... into the commodity futures market. All of this plays a role: the availability of supply, financial market interest in commodities, and don’t forget the strength of the U.S. dollar (the global [more...]
Date: 2008-09-03 18:43:00
Why is Gas at $4 a Gallon?
Conspiracy theories abound, but the soaring price of crude oil (today around $137 a barrel) is related to four more mundane forces: (1) ... is one of the commodities that looks like a good bet. Hence, there's speculation in oil futures [more...]
Date: 2008-06-09 14:05:56
Daily Forex Overview
Previous session overview On Thursday, the dollar rallied across the board, rebounding from sharp losses that accumulated since the start of the week, on a surge in U.S. stocks when crude oil futures dove more than USD5 on the day. In comments in an interview, ECB President Jean-Claude Trichet said there is a risk of a wage-price spiral developing [more...]
Date: 2008-07-18 06:59:24
Demand cuts drag oil below $40
Today, the price of crude fell below $40 a barrel. This appears to be a clear signal of falling oil demand as the world economy slows.[ ... cents to $39.16 a barrel by 3:45 a.m. EST after falling 6 percent on Monday. As traders sought to close out the worst-ever year for oil futures, which are now down almost 60 percent since January [more...]
Date: 2008-12-24 07:42:33
Green Ink: Electric Cars and Barricades
paper Crude oil futures rebounded above $50 as governments around the world suggest measures to revive demand and OPEC’s previous production cuts ... to lower the cost of energy to proposals to keep gas prices high enough to benefit alternatives, the WSJ reports (sub reqd.). In the meantime, lower gas prices are a nearly $300 billion shot in the arm [more...]
Date: 2008-11-21 13:14:30
Green Ink: Subprime Renewables
paper Crude oil futures jumped for the second straight day to more than $42 due to violence in the Middle East and Chinese stockpiling of oil, ... reqd.). Cratering energy and commodity prices push Kuwait to nix a $17 billion deal with Dow Chemical [more...]
Date: 2008-12-29 12:59:49
Merrill’s Three ‘C’s for the Market
Could declining commodity prices be a major theme for the markets in the third quarter? Crude-oil futures are dropping like a stone this morning amid a strengthening dollar ... futures dropped as well, tumbling more than $12 to around $921 an ounce in recent Comex trading [more...]
Date: 2008-07-07 14:41:09
Oil Reclaims $120 a Barrel
The rebound in oil, which has carried crude past $121 a barrel, can no longer be dismissed as a “blip” after crude fell within $110 last week ... like much. With varying fundamental issues in play, traders are also looking at the price ... analyst at BNP Paribas Commodity Futures. Mr. McGillian says this rally will have to push through [more...]
Date: 2008-08-21 15:33:19
Green Ink: Last Act for Detroit
paper Crude oil futures retreated Tuesday to just over $52 a barrel due to unremitting signs of weak global demand, and Russia may coordinate output cuts with OPEC, Bloomberg reports. Natural gas prices will remain soft, too—a new report says gas oversupply will keep U.S. prices cheap for the next five years [more...]
Date: 2008-11-25 13:16:27
Commodity Boom Turns Bust in 2008 as Worldwide Economy Crumbles
Commodity prices in 2008 plunged the most in five decades as demand for energy, metals and grains tumbled in the second half because of the recession ... . Sugar, gold and hogs were the only other commodities to post gains. Gasoline futures declined ... on July 11. The 2008 low was 78.5 cents on Dec. 24. Crude oil futures tumbled a record 54 percent [more...]
Date: 2009-01-02 21:23:20
Commodity Boom Turns Bust in 2008 as Worldwide Economy Crumbles
Commodity prices in 2008 plunged the most in five decades as demand for energy, metals and grains tumbled in the second half because of the recession ... . Sugar, gold and hogs were the only other commodities to post gains. Gasoline futures declined ... on July 11. The 2008 low was 78.5 cents on Dec. 24. Crude oil futures tumbled a record 54 percent [more...]
Date: 2009-01-03 09:25:14
Crude Oil Finds Longterm Support and Buy Signal at $40
We’ve witnessed absolute destruction in the price of crude oil and in other commodities in such a short period of time ... before making any trading or investing decisions. If you don’t trade futures, you might want to see [more...]
Date: 2008-12-09 15:42:00
Overnight markets: Down
Asian stocks and US futures slid Thursday, following US and European markets down amid fresh fears that worldwide bank rescue programmes have come too late. Crude oil prices fell to 13-month lows as commodities prices tumbled across the board. US markets (Wed) DJIA down 733.08 at 8,577.91 Nasdaq... [more...]
Date: 2008-10-16 04:44:46
Deal Or No Deal...The Buck Is A Bust
Oil Curve Steeper Than '99 Shows Possible Gain in '09Jan. 5 (Bloomberg) -- The steepest plunge in crude prices on record may be setting up oil investors for a rally this year, if history is any guide.The so-called forward curve of futures contracts traded on the New York Mercantile Exchange suggests oil will rise 28 percent to $60 [more...]
Date: 2009-01-06 01:28:00
The Good News Of 2008: Gas Prices Down
Retail gasoline prices tumbled Friday to the lowest level in nearly five years. And while crude futures rose, analysts believed it was a temporary pause in an extended, downward ... in July" for gasoline, said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service [more...]
Date: 2008-12-30 09:21:00
Oil prices end tumultuous year on calm note, down slightly
Oil prices ended the year on a calm note on Wednesday, ... -year lows. New York’s main futures contract, light sweet crude for February delivery, eased 13 ... torrid few months, a hell of a lot of uncertainty,” said Mark Pervan, senior commodities analyst for ANZ [more...]
Date: 2008-12-31 06:48:11
Arbitrage by piracy
When the Sirius Star oil tanker was captured by pirates on 15 November, the crude oil price was around $55 a barrel ... of these scenarios were the real one, the owners could simply hedge by selling 2 million futures [more...]
Date: 2009-01-10 20:35:18
Green Ink: Brother, Can You Spare a Bailout?
paper Crude oil futures slipped toward $53 thanks to expectations of growing stockpiles in the U.S. and anemic demand for oil, Bloomberg reports ... s planned natural-gas pipeline could be in trouble, as plunging natural-gas prices and a slowing economy [more...]
Date: 2008-11-19 13:38:50
OPEC cuts can’t stop the slide
Crude oil is currently at $34.54/bbl, the lowest price in years. The OPEC cuts don’t seem to be affecting the law of supply and demand. Who knew? ... that had futures traders betting on $25/bbl by February. They may have been off by a month ... for the better. With any luck, Hamas, Hezbullah, and Syria will be cut off from their Iranian sugar [more...]
Date: 2008-12-19 15:30:05
Gas Prices: Boy, was I wrong….
Back in May, I wrote an article on the continuously rising gas prices and future predictions ... Merrill Lynch Commodity Strategist Francisco Blanch and Gulf Oil CEO Joe Petrowski, say that crude oil [more...]
Date: 2008-12-07 21:45:24
News will not make you money
Just saw this on Bloomberg this evening - http://www.bloomberg.com/apps/news?pid=20601086&sid=a1Ab6lUay5TE&refer=newsJan. 5 (Bloomberg) -- The steepest plunge in crude prices on record may be setting up oil investors for a rally this year, if history is any guide. The so-called forward curve of futures contracts traded on the New [more...]
Date: 2009-01-05 13:37:00
Gold slips 1 percent as dollar firms and oil slides
Gold slips 1 percent as dollar firms and oil slides filed in Business on Jan.02, 2009 ‘) ... late on Wednesday, the last trading session of 2008. U.S. gold futures for February delivery fell ... as a hedge against oil-led inflation and as rising crude prices often increase interest in commodities [more...]
Date: 2009-01-02 20:56:24
DrumBeat: September 16, 2008
Oil at 7-month low on Wall Street woes Crude futures fall more than $4 a barrel as economic concerns fuel market fears that demand for energy will not recover any time soon. NEW YORK (CNNMoney.com) -- Oil prices settled at a seven-month low Tuesday as the meltdown on Wall Street pulled the oil market's focus to the economic slowdown that has [more...]
Date: 2008-09-16 14:05:01
