The Oil and Gas Markets


Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

Oil falls to near $100 in light holiday trading
quote:

Oil prices fell to near $100 a barrel Monday in Asia as traders mulled Middle East political tension amid light holiday trading volume.Benchmark oil for July delivery was down 51 cents to $100.08 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=26981:eek:il-falls-to-near-100-in-light-holiday-trading&catid=30:eek:il-com panies-news&Itemid=225

CME Spot Prices (Asian trading ongoing)
Crude: $100.33
Brent Crude: $114.76
Natural Gas: $4.585

Comment: US and UK markets closed but trading as usual is going on elsewhere.
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

US could lift Cuba embargo after oil discovery
quote:

The world's longest-running embargo has endured in part because there was little the US wanted to buy from its impoverished neighbour.But the discovery of between five and 20 billion barrels of oil in the deep waters off Cuba's north coast, only 60 miles away from Florida, has made American businessmen and politicians consider lifting the embargo.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=27098:us-could-lift-cuba-embargo-after-oil-discovery-&catid=30:eek:il-co mpanies-news&Itemid=225

CME Spot Prices (Asian trading ongoing)
Crude: $101.16
Brent Crude: $114.73
Natural Gas: $4.568

Comment: It's amazing how the game can change when your rival has something you want, isn't it?
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

Why lower Saudi oil prices kill alternative energy
quote:

The biggest obstacle to alternative energy is money.Saudi Prince Al-Waleed bin Talal seems to understand this. In a CNN interview, he admitted Saudi Arabia wants lower oil prices because it doesn’t “want the West to go and find alternatives.”￾
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=27327:why-lower-saudi-oil-prices-kill-alternative-energy&catid=30:eek:il -companies-news&Itemid=225

CME Spot Prices:
Crude: $102.87
Brent Crude: $116.73
Natural Gas: $4.641

Comment: One strong incentive to develop alternative energy would be peace for the rest of the world by rendering the Middle East irrelevant. There just wouldn't be any reason to be involved there if nobody wants what they have to offer. Something to think about here.
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

Oil falls below $100 after surprise US supply jump
quote:

Oil prices fell below $100 a barrel Thursday in Asia after a report showed an unexpected jump in U.S. crude supplies, suggesting demand is weakening.Benchmark oil for July delivery was down 47 cents to $99.82 a barrel in late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=27684:eek:il-falls-below-100-after-surprise-us-supply-jump&catid=30:eek:il- companies-news&Itemid=225

CME Spot Prices:
Crude: $100.50
Brent Crude: $115.54
Natural Gas: $4.787
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

Oil Falls Below $100 Before U.S. Jobs Report, OPEC; Crude Supplies Climb
quote:

Oil fell before a report that will indicate the strength of the U.S. economy and as OPEC prepares to meet in Vienna next week to decide output quotas.

Futures have fluctuated from $98 to $104 a barrel this week.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=27917:eek:il-falls-below-100-before-us-jobs-report-opec-crude-supplies-c limb&catid=30:eek:il-companies-news&Itemid=225

CME Close:
Crude: $100.51
Brent Crude: $116.11
Natural Gas: $4.724
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

Europe oil demand at 1995 lows as prices bite
quote:

European oil consumption this year will fall to its lowest since 1995 as high prices cut sharply into fuel use in debt-laden peripheral eurozone nations.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=28141:europe-oil-demand-at-1995-lows-as-prices-bite&catid=30:eek:il-comp anies-news&Itemid=225

CME Spot Prices (Asian Trading ongoing):
Crude: $100.28
Brent Crude: $115.84 (Settle)
Natural Gas: $4.774

Comment: High prices lead to a drop in demand in fragile economies. Big surprise, eh?
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

The bewildering fall and rise of oil prices
quote:

The price of the Opec Reference Basket (ORB) of crude oil declined steeply in trading from almost $120 per barrel to $104.4 per barrel on May 6.

Brent and WTI crudes lost almost $10 a barrel in one day on May 5. The oil market has seen nothing like this for a long time.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=28430:the-bewildering-fall-and-rise-of-oil-prices&catid=30:eek:il-compan ies-news&Itemid=225

CME Spot Prices:
Crude: $98.73
Brent Crude: $114.48 (Settle)
Natural Gas: $4.835
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

OPEC to Raise Oil Output Target Tomorrow, Gulf Delegate Says
quote:

OPEC will raise its oil output target tomorrow for the first time since 2008 to help replace lost Libyan supplies and meet growth in demand later this year, according to a Gulf delegate with knowledge of the matter.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=28617:eek:pec-to-raise-oil-output-target-tomorrow-gulf-delegate-says&cat id=30:eek:il-companies-news&Itemid=225

CME Spot Prices:
Crude: $98.63
Brent Crude: $116.78 (Settle)
Natural Gas: $4.810
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

OPEC Can’t Find Consensus on Output Quotas
quote:

OPEC failed to reach an agreement on crude production for the first time in at least 20 years, after six countries opposed a Saudi Arabia-led group that urged members to raise output as oil trades above $100 a barrel.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=28856:eek:pec-cant-find-consensus-on-output-quotas&catid=30:eek:il-companie s-news&Itemid=225

CME Spot Prices:
Crude: $101.28
Brent Crude: $117.85 (Settle)
Natural Gas: $4.830
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

Oil rises above $101 after OPEC output unchanged
quote:

Oil prices rose above $101 a barrel Thursday in Asia, extending gains from the previous session after OPEC leaders unexpectedly left crude production quotas unchanged.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=29021:eek:il-rises-above-101-after-opec-output-unchanged&catid=30:eek:il-co mpanies-news&Itemid=225

CME Spot Prices:
Crude: $101.25
Brent Crude: $118.74
Natural Gas: $4.765
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

OPEC ready to act if needed, split was over data
quote:

Economics, rather than politics was behind the collapse of this week's OPEC talks and the group as a whole would act if it grew worried about oil supplies running short, a top OPEC official said on Thursday.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=29092:eek:pec-ready-to-act-if-needed-split-was-over-data&catid=30:eek:il-co mpanies-news&Itemid=225

CME Spot Prices:
Crude: $101.74
Brent Crude: $119.57 (Settle)
Natural Gas: $4.684
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

OPEC says oil supply gap looming later this year
quote:

OPEC followed this week's failure to reach an output deal with a forecast world oil supplies would begin to fall short later this year, draining inventories just when demand is expected to hit a seasonal peak.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=29319:eek:pec-says-oil-supply-gap-looming-later-this-year&catid=30:eek:il-c ompanies-news&Itemid=225

CME Close:
Crude: $98.92
Brent Crude: $118.36
Natural Gas: $4.760
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

CFTC told to explain excessive oil volatility
quote:

Pressure is mounting on US Commodity Futures Trading Commission after Senate Energy Committee asked it to explain what was behind the recent movement in oil prices.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=29552:cftc-told-to-explain-excessive-oil-volatility&catid=30:eek:il-comp anies-news&Itemid=225

CME Spot Prices (Asian Trading Ongoing):
Crude: $98.82
Brent Crude: $118.78 (Settle)
Natural Gas: $4.755
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

Oil falls to below $99 on Saudi crude output boost
quote:

Oil prices fell to below $99 a barrel Monday in Asia, extending a big loss from Friday after a report said Saudi Arabia plans to boost its crude production.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=29645:eek:il-falls-to-below-99-on-saudi-crude-output-boost&catid=44:late st-news&Itemid=64

CME Spot Prices:
Crude: $98.72
Brent Crude: $119.59
Natural Gas: $4.673
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

DOE Predicts $102/Barrel Oil, $3.87/Gallon Diesel for 2011
quote:

Although crude oil prices dropped in early may, the U.S. Department of Energy still expects oil markets to tighten through 2012 and predicts that WTI spot prices, which averaged $79 per barrel in 2010, will average $102 per barrel in 2011 and $107 per barrel in 2012.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=29691:doe-predicts-102barrel-oil-387gallon-diesel-for-2011&catid=30:eek: il-companies-news&Itemid=225

CME Spot Prices:
Crude: $97.18
Brent Crude: $119.10 (Settle)
Natural Gas: $4.618
 
Dec 2, 2000
58,614
418
283
Easley South Carolina
From The Hellenic Shipping News:

Oil hovers above $97 amid global economy fears
quote:

Oil prices hovered above $97 a barrel Tuesday in Asia amid concern a weakening global economy is undermining crude demand.Benchmark oil for July delivery was up 30 cents to $97.60 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=29859:eek:il-hovers-above-97-amid-global-economy-fears&catid=30:eek:il-comp anies-news&Itemid=225

CME Spot Prices:
Crude: $98.03
Brent Crude: $120.30
Natural Gas: $4.603

Comment: If prices are up, they panic. If prices are down, they panic. Either way, it's presented as the end of the world. Go figure.
 

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