OIL over 50 bucks a brl and rising

[LICKING COUNTY FAN]

Oil is up despite signs that U.S. crude supplies are rising. The Energy Information Agency reported crude inventories rose 1.94 million barrels for the week ended March 13. The 353.3 million barrels of crude is the highest reported level in U.S. inventories since June 29, 2007.

Gasoline stocks surged by 3.2 million barrels, surprising analysts who had expected a draw down of 2.1 million barrels.

"We've seen a steady increase in U.S. oil inventories for the last six months," Burg said. "There's very little on the supply side to indicate a push higher in prices."




http://finance.yahoo.com/news/Oil-trade ... 86937.html

[Regulator]

Tomorrow is the first day of spring, so it doesn't surprise me that gas prices and OIL is rising. Just two months away from the driving season and summer vacations. It has to go up now so they can justify bumping it up more then.

[Bassmaster]

We can just blame the "Oil Man" in the White House.........no wait he's gone!

[Runner]

We can just blame the "Oil Man" in the White House.........no wait he's gone!

LOL...yep. What excuse are they going to use now?

I'm sure they will still try to find a way to put the blame on him.

[Bassmaster]

[Runner]

Ol Barry wants credit for everything....so I guess you would have to say...

[LICKING COUNTY FAN]

John Porretto, AP Energy Writer
Monday March 23, 2009, 12:27 pm EDT
Buzz up! Print HOUSTON (AP) -- Oil prices jumped above $53 a barrel Monday, getting a boost from optimism at stock markets at home and abroad as Treasury Secretary Timothy Geithner unveiled a plan to resolve the nation's worst banking crisis in 70 years.



http://finance.yahoo.com/news/Oil-climb ... 17200.html

[Bassmaster]

[LICKING COUNTY FAN]

A LITTLE UNDER 54 BUCKS A BRL TODAY.

[kantuckyII]

Remember..... 'Drill Baby Drill'....that caused the price of oil to plummet? Now that threat is gone after one was elected...and prices are going to creep right back up there.....

[LICKING COUNTY FAN]

Analysts have struggled to explain the recent surge in energy prices, especially as reports continue to pour out from the federal government showing that the U.S. economy is shrinking and its oil inventories are bloated with surplus crude.

http://finance.yahoo.com/news/Crude-clo ... 59265.html

[LICKING COUNTY FAN]

Pablo Gorondi, Associated Press Writer


Oil prices tumbled Monday to below $51 a barrel as investors cashed in on recent gains, while world stock markets fell and doubts grew about the size of output cuts by leading oil exporters.

Benchmark crude for May delivery was down $1.80 to $50.58 by mid-afternoon in Europe in electronic trading on the New York Mercantile Exchange. The contract dropped $1.96 to settle at $52.38 on Friday.

http://finance.yahoo.com/news/Oil-slide ... 81432.html

[LICKING COUNTY FAN]

Americans are driving billions of miles less each month, and that has helped to push U.S. oil inventories to 16-year highs. On Wednesday, the government will release the latest oil inventory report, which is expected to show a build up of at least 3 million barrels.




http://finance.yahoo.com/news/Oil-price ... 99963.html

[LICKING COUNTY FAN]

John Porretto, AP Energy Writer
Tuesday March 31, 2009, 3:19 pm EDT
Buzz up! Print HOUSTON (AP) -- Crude prices rose along with equity markets Tuesday as oil traders shook off new indications that energy spending will be hobbled by consumer fears and also slowing growth in developing countries.

Benchmark crude for May delivery rose $1.25 to settle at $49.66 on the New York Mercantile Exchange. Prices had declined for the past two trading days after a sustained rally throughout March.

In London, Brent prices rose $1.23 cents to $49.23 a barrel on the ICE Futures exchange.



http://finance.yahoo.com/news/Oil-price ... 02065.html

[dazed&confused]

Heard today that refiners were doing extended maintenance on their facilities because a)they can and b)the crack spread is decreasing, resulting in lower margins. Also, isn't this the time of year when they switch to the summer blends? 1/3 of gasoline useage is for driving to work; that ain't comin back for a while!!!

[LICKING COUNTY FAN]

HOUSTON (AP) -- Oil prices staged a late rally but still closed below $49 a barrel Wednesday, as more signs of a sick economy fueled worries about energy consumption. The U.S. oil inventories are now at levels not seen in more than 15 years.

http://finance.yahoo.com/news/Oil-falls ... 19665.html

[LICKING COUNTY FAN]

Oil jumps nearly $3 to above $51 amid soaring stock markets, signs of stabilizing US economy

The oil people want you to believe the economy here is all better.

http://finance.yahoo.com/news/Oil-jumps ... 27606.html



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[LICKING COUNTY FAN]

High oil prices over the last two years, which surged to a record $147 a barrel in July, helped undermine consumer demand and plunge the world into its worst economic slowdown since World War II.

"When oil goes to $60 while major economies are still struggling, those high prices will simply slow down an economic recovery," Shum said.


http://finance.yahoo.com/news/Oil-rises ... 74206.html

[Space Cowboy]

Thats actually pretty cool

[LICKING COUNTY FAN]

Over 60 bucks a brl now and they say it will continue to rise.

Watch the country go back to where it was a few months ago.

We are already driving less than when it was a month or so ago when it(oil) was at 35 bucks a brl.