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
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Shocker: Federal Regulators Conclude That Oil Speculators Not Responsible For High Gas Prices
The Commodity Futures Trading Commission has released financial data indicating that commodities traders engaged in oil speculation have had little ... driving the future price of oil down. Commodity index funds also have a much smaller share ... of transactions worth billions of dollars between January and June of this year. Commodity futures [more...]
Date: 2008-09-15 14:50:11
Crude Oil Industry Headline News
"Smart Money Moves Back into Energy, But Carefully"A pair of deals by Oklahoma billionaire George B ... Story"Crude Hits One-Month Highs on Gas Spat Jitters"Crude oil futures climbed more than $2 to above ... natural gas flows to Europe could spark an increased demand for oil....Complete Story"Chesapeake Energy [more...]
Date: 2009-01-06 20:40:00
ARTICLE: "Thais Lead Drive to Natural-Gas Cars: Subsidies, Volatility of Oil Prices Spur Move Even as a Campaign Starts in U.S ... for now. Thailand has oil, but has even more natural gas. When we did our energy futures game ... and environmentalists combine to try and talk Americans into switching to natural gas cars. Success [more...]
Date: 2008-11-26 18:19:05
What is up with oil?
Posted by Daniel Hall on December 19, 2008 The pithy answer is nothing — not production, not consumption, and certainly not the price ... gas. 2) Oil futures are not tremendously influenced by OPEC’s announced cuts. OPEC does ... countries oversell their quotes, and the budgetary pressure on some of these governments — who spent [more...]
Date: 2008-12-19 17:09:10
Green Ink: Oil Tanks and Science Celebrates
paper Expiring January crude oil futures nosedived Friday while February futures contracts hovered around $42, Bloomberg reports, ... oil majors drooling over Turkmenistan’s huge natural gas field can forget about it, reports the WSJ [more...]
Date: 2008-12-19 13:00:23
Green Ink: Gas Pains and Peak Coal
paper Crude oil futures hovered around $48 amid signs of tightening oil supplies and continued weak demand, Bloomberg reports ... at the compromises of Candian tar sands—plentiful crude, but bad for the environment. The week-long natural gas dispute in Russia is getting hotter, as Russia has shut off all natural-gas supplies to Ukraine [more...]
Date: 2009-01-07 13:09:13
Democratic Energy Bill Defeated; Republicans Show Some Stones
—Gabriel Malor Harry Reid's attempt to interfere in the commodities exchanges failed this morning along mostly partisan lines. Democrats are blaming high gasoline prices on "excessive" speculation in oil and gas futures. This is typical of Democrats, who would rather blame hedge funds (framed as "fat cats", but who serve [more...]
Date: 2008-07-25 18:45:08
Chesapeake's Cutback of Natural Gas Expenditures
Note: This is an updated version of a post from earlier this week. Some more recent quotes have been added at the end of this post ... cost of producing- to currently above the price of natural gas futures. While shutting ... At $100 Oil, What Can the Scientist Say to the Investor? The Energy Return on Time Peak Oil - Why [more...]
Date: 2008-09-23 20:12:34
Crude continues with its upward journey
Mid East tension takes crude higher by more than 9% in two sessionsOngoing conflicts at Middle East, ... prices higher on Monday, 05 January, 2009.On Monday, crude-oil futures for light sweet crude ... is up 11.1% and heating oil is up 9.1%.February natural-gas futures rose 1.7% to $6.072 per million British [more...]
Date: 2009-01-06 03:14:00
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
Oil Watch: Oil Bears and $2 Gas
The bears were pushed away from the oil-market carcass, but only just. Crude futures closed up at just under $50, the first upward tick in six days, as markets tried ... , at least, there’s nothing but good news for American drivers. Nationwide average gasoline prices fell [more...]
Date: 2008-11-21 11:05:00
Olbermann Blames McCain for Bipartisan Clinton-signed 'Enron Loophole'
Almost two years ago, NewsBusters wondered when media would begin reporting Enron's ties to higher oil and gas prices ... "Enron Loophole" created by the enactment of the Commodity Futures Modernization Act of 2000. Though ... trading, deregulation that lets speculators overwhelm trading in oil futures, those complicated [more...]
Date: 2008-06-20 14:38:34
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
What's Up, What's Down: Crude Oil Down Sharply Along with Heating Oil, RBOB, and Natural Gas
Oil and gas are down across the board, see how other commodities and currencies futures are expected to perform today, including cattle, pork, orange juice, and gold. [more...]
Date: 2008-07-08 03:17:00
a wise man spoke…
Back in the long gone days of Summer 2008, our gas prices were in the $4.00 range. Congress was looking in to the price of oil and why it had risen ... futures market, in which investors buy and sell promises to deliver oil at a later date, and claimed ... commodity futures — “is almost equal to the increase in demand from China.” Many economists scoffed [more...]
Date: 2008-12-24 04:13:22
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
Oil E&P Firms Mixed as Crude Hovers at $38; ‘09 Recovery?
Shares of the major oil and gas exploration and production firms were mixed today as crude oil futures slipped to 38 ... the rise of U.S. oil reserves, which are up 10% this year. The article quotes Sarah Emerson, head of Energy [more...]
Date: 2008-12-30 19:17:05
Why Are Oil and Natural Gas Prices Behaving so Similarly?
This is a question that has been bugging me for a while ... is used for heat, the price of gas is very seasonal. Here is a graph of the gas futures curve (from Nymex, December 23, 2008):Now you can see here that futures contracts for winter months are higher than [more...]
Date: 2008-12-26 19:10:00
Crude Oil Industry Headline News
"Crude Oil Plunges After Report of Larger Than Expected U.S. Supply Gains"Oil futures tumbled after a U.S ... and distillate fuel....Complete Story"Gas Crisis Freezes Economies in Balkans, Turkey"Russian halted natural gas deliveries to Europe via Ukraine Wednesday amid freezing winter temperatures, escalating [more...]
Date: 2009-01-07 18:45:00
U.S. Supreme Court to determine future of Iraq’s oil funds
Plus: *2008 ends “sour” for Iraq oil, potential and roadblocks in 2009 *Natural gas loss at $15B annually *Maliki makes first premier visit to ... damage on the people of Iraq, and they should not be subjected to further harm in foreign courts as Iraq [more...]
Date: 2009-01-10 00:15:16
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
Why We Need the Oil and Gas Industry
Every large global corporation currently has a choice ... . One response is a strategy that moves investment away from low-value commodities towards ... gas will continue to be a significant part of our future. However, we can also agree that in order [more...]
Date: 2008-12-19 11:39:17
Green Ink: Cheap Solar and Green Cemeteries
paper Crude oil futures rose above $48 on continued violence in Gaza, and many traders now say supply-side concerns will keep oil above $40, ... -Ukraine natural-gas dispute enters day five, with both countries trading accusations of bad behavior [more...]
Date: 2009-01-05 13:08:15
The gas legislation we pass
By Kate Sheppard The House of Representatives took up a triumvirate of environment and energy-related bills today, ... Futures Trading Commission to exert tougher oversight of the oil futures markets. In a 402-19 vote ... or unreasonable fluctuations" in energy futures prices and trading activities that "prevent [more...]
Date: 2008-06-27 00:13:20
Green Ink: Gas Taxes and Green Wishlists
paper Crude oil futures rebounded to $52 in the wake of China’s interest rate cuts, ... investors, in the WSJ (sub reqd.). Lower gasoline prices revive talk about a gas tax, but it would need [more...]
Date: 2008-11-26 13:37:31
Who saw this coming? Gas below $1.70
A handful of gas stations in Pierce County are selling gas for $1.69, according to TacomaGasPrices.com ... what today's AP story has to say: Oil futures have followed stock markets recently, using equities as a proxy ... of the year before we begin to decouple and various commodities and financial instruments begin to march [more...]
Date: 2008-11-24 20:43:02
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
Green Ink: Oil?s Down, Motown Drowns
paper Crude oil futures fell to about $54 amid signs of weakening demand, as U.S ... . And the developers of the Nord Stream gas pipeline project insist it is still on track, despite Vladmir Putin’ [more...]
Date: 2008-11-18 13:14:53
Economics 101 for Congress
The New Hampshire Union Leader has a great idea.MAYBE THE quickest way to lower oil and gas prices would be this: ... on them the price would fall. But here is what Walter Lukken, chairman of the Commodity Futures ... are not unregulated traders, as Shaheen keeps saying. The real problem is that with demand continuing [more...]
Date: 2008-07-14 13:18:00
Get Ready For $2 Gas as Fuel Prices Continue to Rise
The national average price for a gallon of gasoline posted their seventh consecutive gain on Tuesday, ... to data from the Department of Energy. Futures traders were also worried about potential fallout ... gasoline prices generally lag beind oil futures which traded above $50 a barrel today, up from below $32 [more...]
Date: 2009-01-06 18:18:07
Technical Picture - Consolidation Ahead of FED
Stocks sold off in early trade as investors grappled with ongoing uncertainty and the threat of more losses from the financial sector, ... funds futures imply a reduction to the fed funds target rate is certain. There is currently a 66 ... in commodities such as agchem, natural gas, gold, and crude oil. Crude was up as much as 8.2% during [more...]
Date: 2008-12-16 06:16:00
Technical Picture - Consolidation Ahead of FED
Stocks sold off in early trade as investors grappled with ongoing uncertainty and the threat of more losses from the financial sector, ... funds futures imply a reduction to the fed funds target rate is certain. There is currently a 66 ... in commodities such as agchem, natural gas, gold, and crude oil. Crude was up as much as 8.2% during [more...]
Date: 2008-12-16 07:00:16
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
The End of “Cheap Gas” will come Sooner than you Think!
2008 brought about mixed emotions. On one hand we had cheaper gasoline than we’ve seen in many, many years (the good) ... to a buck and change…however, everyone knows someone out of work now and that’s very scary!Oil futures ... break their free fall! Any of you out there that are technical traders will note how stretched [more...]
Date: 2009-01-06 00:05:00
U.S Market Update
- Equity markets have begun the week in positive territory, helped by declining commodity prices. Oil futures have shed about $4/bbl and gold has fallen this morning as the dollar has firmed ... % in Chicago led by Wheat while August natural gas is off close to 5% despite the formulation [more...]
Date: 2008-07-07 15:35:29
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
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
Energy Blast - Jan 1, 2008
The natural gas dispute between Gazprom and the Ukraine is creating upward pressure on crude oil futures, along with the conflict in the Gaza Strip. Official data shows that Russian oil production [more...]
Date: 2009-01-02 17:19:17
Wall St. Extends Holiday Rally - Washington Post
Wall St. Extends Holiday Rally Washington Post, United States - 18 minutes ago Amid signs of slowing demand by industrial users, natural gas futures contracts fell 5.4 percent on the New York Mercantile Exchange, while crude oil for ... [more...]
Date: 2009-01-06 08:41:51
Alan Knowles, Haywood Securities: Finding that Elusive Bottom
Source: The Energy Report Haywood Senior Oil and Gas Analyst Alan Knowles says we haven’t seen a bottom yet, ... that are $45 today were $148 last summer, so while the futures indicate current market sentiment, they are not the best indicator of future prices. The contract that we’re talking about right [more...]
Date: 2009-01-05 15:31:26
Crosstex Energy L.P. (XTEX) Streamlines for 2009, Sheds Non-core Assets to Pay Down Debt
In past natural resources posts, oil and gas exploration companies have been featured ... helping to maintain production levels. The future looks fairly bright for the company as national [more...]
Date: 2009-01-07 17:04:50
How Did The Price of Oil Get So High? And Why Is It Now So Low? The "Enron Loophole"
.fullpost{display:inline;}It's beginning to look like we've reached the bottom as far as gas prices go ... markets and run up energy prices. Olbermann called it "a legalized form of insider trading" which "lets speculators overwhelm trading in oil futures." The result? A huge increase in your energy [more...]
Date: 2008-11-29 17:39:00
Closing Enron Loophole Would Drop Oil Prices 25% - 50% Overnight
The way Republicans tell it, the minute we start drilling off the coasts of California, Florida and elsewhere, the price of gas will go down ... for the Commodities Future Trading Commission (CFTC), the government board that oversees commodities markets: “Yes ... follows.) The Enron Loophole is the nickname for a provision written into the [more...]
Date: 2008-06-22 18:55:04
Oil back above 8 on upbeat US economic data - MarketWatch
Oil back above 8 on upbeat US economic data MarketWatch - 1 hour ago December natural gas futures rose 17.3 cents, or 2.7%, to .484 per million British thermal units. Elsewhere in commodities, gold futures edged lower after ... [more...]
Date: 2008-12-17 01:40:57
What's Up, What's Down: Higher Gold Futures, Energies Sharply Lower
Major indexes on Monday continues to weave in and out of red zones following new home sales figures and continued fears of recession. Although Friday saw a higher close for gold, closes for crude and heating oil, the rbob and natural gas were sharply low. [more...]
Date: 2008-10-27 15:13:15
Mika: Offshore Drilling Wouldn't Lower Gas Prices for Ten Years
Mika Brzezinski might be an Obama backer, but she really should sit down with Hillary Clinton. The woman who turned $1,000 into $100,000 could clue her in to the workings of the commodities markets. Be it cattle or crude oil, the concept's the same: these are "futures" markets in which [more...]
Date: 2008-07-15 11:11:46
Green Ink: Gas and Policy, in Short Supply
paper Crude futures rebounded on hopes Congress will salvage a bailout package, climbing to $99 in early trading, Bloomberg reports. Oil-market volatility—record spikes and collapses in one week— [more...]
Date: 2008-09-30 12:40:54
The Price of Gas will soon be $1.50, right?
This will teach them, right? H.R. 6377 directs CFTC to use all its authority, including its emergency powers, immediately to curb the role of excessive speculation in the energy and swaps futures markets ... that an artificially high demand for essential commodities such as oil and corn has been created [more...]
Date: 2008-06-27 20:30:06
Oil prices surge on production cuts and promises of more
Those dreams of $1-a-gallon gasoline are fading fast ... from further declines. Near-term futures in New York jumped $4.46, or 10%, to $47.98 a barrel ... and from gas," he said. "I believe that we mustn't rule out any options." Defensive measures may include [more...]
Date: 2008-12-12 02:14:29
