Jet Fuel Premium Set to Fall

A bit of cheery news for beleagured airlines: jet fuel, which of late had traded at a considerable premium to heating oil, ... to heating oil futures, said Mike Busby, manager of oil and refined-products trading for Northville [more...]

Date: 2008-07-15 08:22:01

Blog posts (120) | Videos (17)
 

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

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

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

Not Too Fast, ATA

Yesterday’s ATA SmartBrief (a free newsletter that is well worth subscribing to) ... , and sugar DBB follows aluminum, zinc, and copper DBC tracks crude oil, heating oil, gold, aluminum, corn ... , speculative money started flowing rapidly out of the oil futures market.” This effect isn’t necessarily [more...]

Date: 2009-01-07 13:35:43

Crude rises

Crude registers biggest yearly drop in CY 2008Ongoing conflicts at Middle East, ... -oil futures for light sweet crude for February delivery closed at $46.34/barrel (higher by $1.74 ... production cut ever.Against this background, February heating oil rose 2.6% to $1.4803 a gallon. February [more...]

Date: 2009-01-05 04:12:00

After the Bell Wrap-Up - January 8, 2009

The markets gave a valiant effort today to shrug off more disappointing economic news to trade higher, ... . In additional NYMEX trading, gasoline futures added $0.0118 to $1.0882 a gallon. Heating oil dropped [more...]

Date: 2009-01-08 21:10:00

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

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

End of the Day Write-Up - January 9, 2009

With the job market in utter chaos, the equity markets responded negatively to the dire economic news released today ... trading, gasoline futures added $0.023 to $1112 a gallon. Heating oil slipped $0.032 to $1.4877 [more...]

Date: 2009-01-09 21:17:00

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

Daily Forex Overview

Previous session overview On Monday, the dollar declined across the board Monday, taking its cue from a drop in U.S. stock markets as financial shares sold off. The dollar was also feeling the heat from oil prices that crept back up toward USD125 a barrel on futures markets, indicating that any measurable relief [more...]

Date: 2008-07-29 07:20:34

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

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

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

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

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

Coal: Don’t Believe What They Tell You on TV

Let’s get one thing straight: Coal is not cheap. And since coal power plants generate half of America’s electricity, that’s not good news ... utility bill this winter heating season. So much for all that much-hyped propaganda from “clean coal” ... Appalachian Coal Futures market has doubled from $60 in January to about $120 in early September [more...]

Date: 2008-09-08 21:13:23

DrumBeat: September 27, 2008

Lehman-Backed Muni Gas Bonds Trade for Cents; Deliveries Halted (Bloomberg) -- Tax-exempt bonds guaranteed by Lehman Brothers Holdings Inc. for a gas-supply contract may be worth little more than unsecured debt after the bankrupt underwriter's commodity unit stopped deliveries last week. Main Street Natural Gas, a financing vehicle [more...]

Date: 2008-09-27 14:11:57

Four at Four: Head-Spinning Activity

Color everyone confused. The equity market knocked it out of the park early, storming ahead to a near-250-point gain, ... complex, with oil declining by 7%, heating oil slipping 3.7%, and natural gas falling 8.6%, the latter ... . A slackening in oil prices boosted shares across the board, but by the end of the day, investors pronounced [more...]

Date: 2008-09-02 11:36:00

Oil prices recover slightly after steep drop

Oil prices swung higher Tuesday, snapping a four-day plunge as investors temporarily halted their frantic selling to see whether the government's ... a barrel on the New York Mercantile Exchange, after earlier trading as high as $93.02. Prices had lost nearly $13 in the past four trading sessions as a widening economic crisis spreads overseas [more...]

Date: 2008-10-07 23:07:07

Counting Blessings

This diary at DailyKos from a woman who got laid off along with 2/3 of her company yesterday is going to become increasingly regular news. For all that I've been swimming in the schadenfreude at watching the banks collapse and multimillionaire CEOs humbled, mass layoffs of ordinary people like this, [more...]

Date: 2008-10-12 00:17:43

Oil Falls Below $40

AP Oil prices tumbled below $40 for the first time since the summer of 2004 Wednesday despite an announcement from OPEC of a record production cut ... in the Gulf of Mexico and other ports waiting for buyers. "There's just so much oil in inventory ... wants to buy this stuff." Markets had already priced in a vastly reduced flow of oil and traders [more...]

Date: 2008-12-18 20:57:39

Week Ahead: Have Yourself a Merry Little Christmas

Visit the front pages of Wall Street Greek and Market Moving News to see our current coverage of economic reports and financial markets.By The Greek - Economy & Markets:My favorite Christmas song seems to apply to the entire world this year. It's a hopeful tune that is sure to bring a tear to many an eye this frigid season [more...]

Date: 2008-12-22 15:15:00

Readings: Package II, Brokers’ gloom, Crude oil spiral

Economic Times: Package-II to boost exports, realty The government is expected to come out with a second stimulus package in the next few days to ... The current downtrend in brokerage volumes is the longest ever in broker memory. Average daily ... oil and diesel. Crude-oil futures for February delivery fell $3.63, or 9.3 percent, to $35.35 [more...]

Date: 2008-12-25 05:21:49

DrumBeat: December 29, 2008

Gazprom, Once Mighty, Is Reeling MOSCOW — A year ago, Gazprom, the Russian natural gas monopoly, aspired to be the largest corporation in the world. Buoyed by high oil prices and political backing from the Kremlin, it had already achieved third place judging by market capitalization, behind Exxon Mobil and General Electric [more...]

Date: 2008-12-29 14:06:30

The stage is set for an exciting finale

#fullpost{display:inline;}With the end of the year rapidly approaching and nearly every asset class now sporting double-digit declines in 2008, the dollar vs. gold competition is heating up with the latter clearly having the momentum (via ... for the January futures contract that expired at about $33 a barrel last week (you can't give [more...]

Date: 2008-12-20 18:29:00

Financial news we can handle..

This is financial news we all can handle.. “One in six households in the Republic went to the North to shop over the summer, ... “A snap survey of oil distributors carried out by the Belfast Telegraph on Friday found the cost of filling a tank of home heating oil has dropped by nearly £60 in just 21 days.”. It would be good [more...]

Date: 2008-09-22 11:53:20

Did Speculation Fuel Oil Price Swings?

(CBS) About the only economic break most Americans have gotten in the last six months has been the drastic drop in the price of oil, which has fallen even more precipitously than it rose. In a year's time, a commodity that was theoretically priced according to supply and demand doubled from $69 a barrel to nearly $150 [more...]

Date: 2009-01-12 15:10:00

Oil Falls below $42 a barrel

LONDON: Oil prices fell below $42 a barrel Friday after Russia and Ukraine said a dispute over natural gas payments wouldn’t affect shipments to ... , then you will see an increase in the usage of oil instead of natural gas. It will have an impact on oil prices,” ... in the oil-rich Middle East helped keep prices from falling further. Israeli troops massed [more...]

Date: 2009-01-02 13:21:38

DrumBeat: September 17, 2008

Oil spikes $6 on safe-haven buying, weak dollar NEW YORK - Oil prices shot up $6 a barrel Wednesday, ... global economy was eroding demand for energy. But analysts said oil is unlikely to resume its upward ... often have been followed by sharp selloffs as oil market traders try to cash in. break No relief [more...]

Date: 2008-09-17 13:50:07

DrumBeat: December 18, 2008

Oil drops 9 pct as demand outlook overshadows OPEC NEW YORK (Reuters) - U.S. crude prices dropped more than 9 percent to $36 a barrel Thursday as slumping demand and swelling U.S. inventories offset OPEC's record supply cut agreement. The Organization of the Petroleum Exporting Countries on Wednesday agreed to cut output by 2 [more...]

Date: 2008-12-18 13:42:11

Oil falls below $54 in Asia ahead of OPEC meeting

Oil prices have fluctuated between $50 and $55 this week, pausing after fall of over 60 percent since reaching a record $147.27 in mid-July ... . Heating oil dropped 2.36 cents to $1.71 a gallon while natural gas for January delivery slid 16.3 ... Capital Energy in Singapore. “There’s no reason for the market to rally.” Oil will likely trade below $50 [more...]

Date: 2008-11-28 06:58:25

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

AMERICA: ..(SUPPORTS ISRAELI TROOPS, OIL PRICE RISES, ECONOMIC PROBLEMS.. SOLVED!)

Oil prices rose above $47 a barrel Monday in Asia as a ground offensive by Israeli troops against Hamas militants in Gaza heightened tensions in the oil-rich Middle East.Light, sweet crude for February delivery rose $1.36 to $47.70 a barrel, after ... October.“The direction of oil going forward will depend on OPEC’s compliance with their output cuts [more...]

Date: 2009-01-05 08:46:24

The case for oil price speculation improves

U.C. San Diego economist Jim Hamilton has long argued that fundamental forces of supply and demand explain oil prices better than "speculation ... by David Cho, "A Few Speculators Dominate Vast Market for Oil Trading." Hamilton closed his dissection ... recently deemed by the Commodities Futures Trading Commission to be more of a speculator than [more...]

Date: 2008-08-27 16:28:48

DrumBeat: September 5, 2008

U.S. highway fund crushed by cutback in driving NEW YORK (CNNMoney.com) -- An unprecedented decline in driving will deplete the federal Highway Trust Fund by the end of September prompting the government to ask Congress for an $8 billion emergency infusion Friday. Gasoline sales are crucial to maintaining the nation's highway infrastructure [more...]

Date: 2008-09-05 14:22:45

Barrel of crude now costs half that, even lower

Exactly one year after crude eclipsed $100 a barrel for the first time, 2009 trading began Friday with prices roughly half their year-ago levels, and some believe oil could be headed even lower. Oil markets kicked off the new year with crude ... price declines. Oil market activity was also light as many traders took a long holiday weekend [more...]

Date: 2009-01-02 22:14:41

On being wrong - the falling price of home heating oil in Maine

Sometimes, I have to admit, when predictions are made, I can be just wrong. Asked, early in the summer as to the wisdom of buying winter supplies of heating oil in the North East, I suggested that there would be a likely continued rise in price, and that with distributors having problems, that an early securing of supplies would pay off [more...]

Date: 2008-10-31 12:50:59

Oil Rises to 5-Week High Above $50 on OPEC Cuts, Russia Dispute

By Grant Smith Jan. 6 (Bloomberg) — Crude oil rose to a five-week high above $50 as Kuwait and Qatar indicated they will implement supply cuts ... percent, to $51.86 a barrel on London’s ICE Futures Europe exchange, also the highest since Dec. 1. The contract traded at $51.37 a barrel at 1:23 p.m. “Russia continues to play hardball [more...]

Date: 2009-01-06 13:49:59

Oil prices slip as US unemployment jumps

VIENNA, Austria (AP) — Worries about global economic growth and a U.S ... delivery was down $1 at $40.70 barrel by midday in Europe in electronic trading on the New York Mercantile ... shells."Some traders may be nervous fighting could spread," said Clarence Chu, a trader with market [more...]

Date: 2009-01-10 00:38:00

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

Wood Chips Keep Quabbin Warmer

As a keen alternative towards providing a sustainable environment in the world of soliciting better consumption of power for heating, ... 22,000 gallons - or 85 percent - of the fuel oil used by the facility for heating. Although oil ... chips to serve as its primary source of heating. The state Department of Conservation and Recreation [more...]

Date: 2008-12-29 07:00:42

OPEC's Actions Irrelevant for Now

By Markos N. Kaminis - Economy & Markets:Visit the front pages of Wall Street Greek and Market Moving News to see our current coverage of economic ... $40.50 on the WTI futures contract for January deliver, the price of crude oil at the hour ... a relatively significant action from the consortium, but as crude oil prices moved curiously counter [more...]

Date: 2008-12-17 21:45:00

Rep. John Larson: Enough!

Rep. John Larson: Enough! September 6th, 2008 by Karina Congressman John Larson of Connecticut, Vice Chairman of the House Democratic Caucus, ... , small business owners, and people on fixed income. They tell me how the costs of oil and gas ... policy. And for eight years, Big Oil has raked in unprecedented profits. Barack Obama summed [more...]

Date: 2008-09-06 17:10:04

1/5/09 (Smoot-Hawley back? Profits drop!)

Traders, Well the first trading day of the year (last Friday) – was a great start ... _______________________________________________Oil – Gaza – Russia - OPEC It looks like oil is moving back into the lime light. The fighting in Gaza is heating up, and while not an oil rich area it is surrounded [more...]

Date: 2009-01-05 14:06:00

Stock Market Sentiment

Daily Market Commentary for November 6, 2008 from Millennium-Traders.Com Buyers remain on the sidelines and even still, they are definitely not looking to take any chance in getting in on these heavy market losses taken by stocks as of yet. (read more) http://www.millennium-traders.com/news/newscommentary [more...]

Date: 2008-12-21 03:00:24

Oil prices end higher as stock market rallies

Oil prices rose modestly but closed well off their session highs Thursday as a late-day stock market rally soothed investors' concerns about the ... economy and demand for energy. oil9 Oil prices end higher as stock market rallies Earlier ... the equities market in favor of commodities. "Oil's torn. It doesn't know if it's a financial indicator [more...]

Date: 2008-09-19 03:08:13

Green Ink: Oil?s Future Is Pricey

paper Crude oil futures inched above $65 after earlier declines, boosted by rising stock markets, Bloomberg reports ... social unrest. Lower oil prices are self-correcting. Just look at the 2013 futures price, says the WSJ— ... . But dismal economic data out of the U.S. and Asia has some analysts forecasting $55 oil. China [more...]

Date: 2008-11-04 14:19:44

Retail gasoline prices drift to 58-month low

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 arc as the recession spreads. AP Oil at 120 “We’re paying about a billion dollars per day less [more...]

Date: 2008-12-27 04:46:03

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