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$12 a gallon of gasoline: the real scare
Written by Michael Vass
Here we go, the polispeak is in full force. Senator Obama has suddenly realized that Iran affects the price of oil. In fact he has been advised, recently one would assume, of the following:
Now let’s ignore the fact that both the Democrats and Republicans share equally in the lack of alternative energy [...]
America & oil: 70’s embargo or 2010 bounty
Written by Michael Vass
How bad is the energy situation in America? We all are aware of the increases in the price of oil in the past couple of years. In fact there has been a massive amount of attention to every rise and fall of the price per barrel. That attention has of course translated [...]
Revising my prediction on a higher oil price, since I was right
Written by Michael Vass
Well it would seem that I am wrong and right. Both of which seem to be occurring sooner than I would have ever imagined. And the implications of this is going to have repercussions for quite some time.
With crude oil closing above $100 on Tuesday I am proven right in my expectation [...]
Potential factors to push crude oil over $100 a barrel
Written by Michael Vass
Crude oil prices have been on a seesaw of volatility, most notably since hitting $100 a barrel in January of this year. Since that time there have been recession fears in America, massive rate cuts by the Federal Reserve, horrendous losses by most financials due to the mortgage sub-prime loans, and drops [...]
Oil Prices Update
Read this:
When you have an increase in demand and increase in costs, conventional economics usually predicts a rapid rise in prices.
Rating 3.00 out of 5
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Crude Oil Futures Close Lower After Supply Surprise
Oil futures closed lower today after the Energy Information Administration (EIA) surprised the markets with a report that inventories jumped by 7 million barrels last week. Analysts surveyed by Dow Jones were expecting an increase of 2.6 million barrels.
Light sweet crude for March delivery fell $1.27 to settle at $87.14 on the NYMEX on volume [...]
Crude Oil Prices Up On Economic Data
Light sweet crude oil for March delivery rose today after strong factory orders were released by the Government early in the trading day.
Despite today’s direction, the oil markets remain cautious because of the concerns regarding the U.S. economy.
Light, sweet crude for March delivery rose $1.06 to settle at $90.02 a barrel on the New York [...]
Crude Oil Prices Drop After Release of Inventory Data
Oil futures briefly traded below $90 a barrel today after the weekly inventory report showed an unexpected increase in inventories. Analysts surveyed by Dow Jones were expected an increase of 300,000 but the report showed an increase of 4.3 million barrels which surprised many traders that we spoke to on the floor.
News regarding the U.S. [...]
Oil Trades Lower on Economic Concerns
After trading higher earlier in the day, oil futures closed slightly lower. Prices jumped earlier in the day after a report was released that forecasted a decrease in daily shipments of 230,000 barrels per day by OPEC.
Prices then moved lower after investors saw a Conference Board Report that its index of leading indicators dropped [...]
Crude Oil Trades Higher on Inventory Data
The light sweet crude oil contract for February closed up $1.16 cents to $91.24 a barrel on the New York Mercantile Exchange on Wednesday after the weekly inventories report for the week ended December 14th showed that inventories dropped for a fifth consecutive week. Inventories dropped by 7.6 million barrels while analysts surveyed expected a [...]
Crude Oil Down for Third Consecutive Day After OPEC Comments
Said one trader in New York, “A warm welcome from the new OPEC President.”
The incoming OPEC President said this weekend that OPEC may increase production at their next meeting in February. OPEC’s next meeting is February 1st and a main focus of the meeting will be an implementation of strategy on how to meet world [...]
Oil Closes Above $90 a Barrel
Oil bulls sent oil prices back above US$90 a barrel but oil remained in a trading range as the Fed eased rates by a 1/4 point in an anticipated move. Earlier in the day, Light, sweet crude for January delivery on the New York Mercantile Exchange traded as high as $90.55 but was unable to [...]
Crude Oil Prices Rise Over $3 on Inventory Data and China Outlook
Crude oil prices rose over $3 to reach the highest prices since November 30th. The move came on the heels of news released yesterday by The Energy Department that supplies had their biggest one week drop since 2004.The drop in crude-oil supplies left inventories at the lowest level since March 2005.
The falling dollar and the outlook on [...]
Crude Oil Down on Inventory Update
Crude oil traded lower today after a report was released by the Energy Department showing that heating oil and gasoline stockpiles increased. The report also showed that U.S. Crude inventories were down 8 million barrels equaling the lowest inventory in three years.
There was a lot of news for the energy markets to absorb as OPEC [...]
Crude Oil Markets Wait on Decision from OPEC
Speculation to what OPEC will do regarding its decision to increase daily production has added to the volatility in the crude oil markets. One trader told Crude Oil Futures Blog that the decision from OPEC will give the oil markets some needed direction. Although the markets are expecting an increase, there have been mixed messages [...]
Oil Down Again as Fears Intensify Over OPEC and the Economy
Crude oil traded this morning to a five week low as fears intensify over the expected increase in daily production by OPEC which is expected to be announced at the December 5th meeting. Traders at the CBOE are also worried about an expected slowdown in the U.S. economy heading into 2008.
One trader told Crude Oil Futures [...]
Crude Oil Futures Down on Economic and OPEC News
Crude oil futures are continuing their roller coaster ride this morning as futures traded below $90 a barrel in the first time in over a month. Analysts blamed several factors over the more downward including a slowdown in the U.S. economy. Others blamed traders that bid up futures over an over-exuberance over the Chinese economy. [...]
Crude Oil Prices Regress After Flirting with $100 Per Barrel Prices
After reaching an all time high of $99.29 last week, WTI crude prices for January delivery were down over $2.00 as speculation grew that OPEC would increase production. The speculation comes on the heels of the Saudi Oil Minister’s announcement that the oil state had increased production to 9,000,000 bpd. The announcement by the Saudi’s [...]
