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OIL over 50 bucks a brl and rising

Posted: Thu Mar 19, 2009 7:55 am
by 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

Re: OIL over 50 bucks a brl and rising

Posted: Thu Mar 19, 2009 8:04 am
by 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.

Re: OIL over 50 bucks a brl and rising

Posted: Thu Mar 19, 2009 11:17 am
by Bassmaster
We can just blame the "Oil Man" in the White House.........no wait he's gone! :lol: :lol: :lol:

Re: OIL over 50 bucks a brl and rising

Posted: Thu Mar 19, 2009 12:30 pm
by Runner
Bassmaster wrote:We can just blame the "Oil Man" in the White House.........no wait he's gone! :lol: :lol: :lol:


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

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

Re: OIL over 50 bucks a brl and rising

Posted: Thu Mar 19, 2009 12:49 pm
by Bassmaster
Image

Re: OIL over 50 bucks a brl and rising

Posted: Thu Mar 19, 2009 1:52 pm
by Runner
Ol Barry wants credit for everything....so I guess you would have to say...

Image

Oil climbs toward $54 on stock market rally

Posted: Mon Mar 23, 2009 1:06 pm
by 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

Re: OIL over 50 bucks a brl and rising

Posted: Mon Mar 23, 2009 1:52 pm
by Bassmaster
Image

Re: OIL over 50 bucks a brl and rising

Posted: Tue Mar 24, 2009 4:51 pm
by LICKING COUNTY FAN
A LITTLE UNDER 54 BUCKS A BRL TODAY.

Re: OIL over 50 bucks a brl and rising

Posted: Thu Mar 26, 2009 8:34 am
by 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.....

Crude closes above $54 for first time this year

Posted: Thu Mar 26, 2009 7:05 pm
by 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

Oil slides below $51 on profit-taking

Posted: Mon Mar 30, 2009 9:37 am
by 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

Oil prices waver on predictions of slow growth

Posted: Tue Mar 31, 2009 2:17 pm
by 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

Re: OIL over 50 bucks a brl and rising

Posted: Tue Mar 31, 2009 4:21 pm
by 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

Re: OIL over 50 bucks a brl and rising

Posted: Tue Mar 31, 2009 6:44 pm
by 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!!!

Oil falls below $49 amid gloomy data

Posted: Wed Apr 01, 2009 7:33 pm
by 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

Oil jumps nearly $3 to above $51

Posted: Thu Apr 02, 2009 9:57 am
by 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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Oil rises to near $57 amid weak crude demand

Posted: Mon May 18, 2009 5:44 am
by 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

Re: OIL over 50 bucks a brl and rising

Posted: Tue May 19, 2009 8:58 pm
by Space Cowboy
Bassmaster wrote:Image

Thats actually pretty cool

Re: OIL over 50 bucks a brl and rising

Posted: Wed May 20, 2009 5:32 am
by 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.