The Oil and Gas Markets

Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Libya Oil Output Recovery Will Take at Least a Year, Ghanem Says
quote:

Shokri Ghanem, Libya's former top oil official who defected earlier this year, said he doesn't expect the country's crude production to return to pre-conflict levels of more than 1.5 million barrels a day until the end of 2012,
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=44838:libya-oil-output-recovery-will-take-at-least-a-year-ghanem-says &catid=30:eek:il-companies-news&Itemid=225

CME Close:
Crude: $86.67
Brent Crude: $112.58
Natural Gas: $3.885
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil May Fall on Economic Recovery Concerns as Storm Passes, Survey Shows
quote:

Oil may fall next week after a storm threatening Gulf of Mexico energy installations dissipates and on concern that the global economic recovery is slowing, a Bloomberg News survey showed.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=44953:eek:il-may-fall-on-economic-recovery-concerns-as-storm-passes-surv ey-shows&catid=30:eek:il-companies-news&Itemid=225

CME Spot Prices (Asian Trading Ongoing)
Crude: $85.80
Brent Crude: $112.33 (Settle)
Natural Gas: $3.882
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

In the Pipeline: Oil market proves its resilience in August
quote:

The growing concerns about the world economy as a result of a slowdown in the US and the crisis of governments' debt in Europe had their impact on the oil market in August.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=45178:in-the-pipeline-oil-market-proves-its-resilience-in-august-&cat id=30:eek:il-companies-news&Itemid=225

CME Spot Prices (Asian Trading Ongoing)
Crude: $83.88
Brent Crude: $110.16
Natural Gas: $3.873
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

The Americas have 30 times more oil than Middle East
quote:

The Middle East is in current terms the major contributor of oil production in the world. But take a brief look at the remaining world oil reserves and one can, without a shred of doubt, conclude that the Americas will be the future of oil.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=45446:the-americas-have-30-times-more-oil-than-middle-east&catid=30:eek: il-companies-news&Itemid=225

CME Spot Prices:
Crude: $86.43
Brent Crude: $112.89 (Settle)
Natural Gas: $3.934

Comment: Since some of this is locked up in oil sands, the trick is going to be recovery which is economically viable.
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil rises to near $87 as Obama speech awaited
quote:

Oil prices rose to near $87 a barrel Wednesday in Asia amid hopes that President Barack Obama's major policy speech later this week will provide a catalyst for stronger U.S. economic growth.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=45544:eek:il-rises-to-near-87-as-obama-speech-awaited&catid=30:eek:il-compa nies-news&Itemid=225

CME Spot Prices:
Crude: $88.62
Brent Crude: $115.31
Natural Gas: $4.014
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Gasoline Tracks European Oil With WTI Collapse: Chart of the Day
quote:

Gasoline is rising along with European Brent crude this year as U.S. benchmark West Texas Intermediate priced in the Midwest failed to reflect tighter global supply, according to an analyst at Baker & O’Brien Inc.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=45673:gasoline-tracks-european-oil-with-wti-collapse-chart-of-the-day &catid=30:eek:il-companies-news&Itemid=225

CME Spot Prices:
Crude: $89.57
Brent Crude: $115.8
Natural Gas: $3.936

Comment: Bloomberg's predicted price fall is looking a bit shaky!

Note from the CME: "On Friday, September 9, 2011, CME Group will observe the tenth anniversary of the attacks on the World Trade Center. As a result, NYMEX/COMEX markets on CME Globex will observe voluntary moments of silence at: 07:46 CT/08:46 ET, 08:03 CT/09:03 ET, 08:59 CT/09:59 ET and 09:29 CT/10:29 ET. We request that all electronic market participants refrain from trading NYMEX and COMEX products on CME Globex and CME ClearPort during these moments of silence."
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

U.S. cuts world oil demand growth on economy
quote:

Global oil demand will grow less than previously projected next year as the economy staggers, the U.S. government forecast.World consumption will rise by 1.39 million barrels per day or around 1.6 percent next year, the Energy Information Administration said, some 250,000 bpd less than it forecast a month ago.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=45829:us-cuts-world-oil-demand-growth-on-economy-&catid=30:eek:il-compan ies-news&Itemid=225

CME Spot Prices:
Crude: $89.29
Brent Crude: $114.55 (Settle)
Natural Gas: $3.970
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

UK oil output falls below 1 million barrels a day
quote:

UK oil production fell below 1 million barrels per day (bpd) for only the second time in more than 30 years this summer as maintenance exacerbated a decline in output from depleted North Sea oilfields.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=46060:uk-oil-output-falls-below-1-million-barrels-a-day-&catid=30:eek:il -companies-news&Itemid=225

CME Close:
Crude: $87.01
Brent Crude: $112.61
Natural Gas: $3.920
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Algerian Minister Sees Current Crude Prices as ‘Reasonable’
quote:

Algeria’s Oil Minister Youcef Yousfi said current oil prices are fair for buyers and producers and that price fluctuations “do not harm”￾ exporters of crude, speaking on national radio’s Channel 1.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=46062:algerian-minister-sees-current-crude-prices-as-reasonable-&cati d=30:eek:il-companies-news&Itemid=225
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

JP Morgan Cuts Oil Demand Outlook, Keeps Price Forecast Unchanged
quote:

JP Morgan has lowered its global oil demand outlook for this year and next citing its recent downward revision of global economic growth, but has kept its oil price forecast unchanged as key producers rein in supplies and as Asian demand rises in 2012.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=46228:jp-morgan-cuts-oil-demand-outlook-keeps-price-forecast-unchange d-&catid=30:eek:il-companies-news&Itemid=225

CME Spot Prices (Asian Trading Ongoing):
Crude: $85.52
Brent Crude: $112.77 (Settle)
Natural Gas: $3.889
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil near $85 amid growing Europe debt crisis
quote:

Oil prices fell to near $85 a barrel Monday in Asia as investor concern about Europe's debt crisis undermined confidence in equities and commodities.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=46389:eek:il-near-85-amid-growing-europe-debt-crisis&catid=30:eek:il-compan ies-news&Itemid=225

CME Spot Prices:
Crude: $87.76
Brent Crude: $112.41
Natural Gas: $3.914
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil Prices to Keep Rising in 2011: Analyst
quote:

Oil prices will gradually rise throughout the rest of the year despite a weakening in demand growth, Neil Atkinson, director of energy research and analysis at Datamonitor told CNBC on Monday.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=46443:eek:il-prices-to-keep-rising-in-2011-analyst-&catid=30:eek:il-compani es-news&Itemid=225

CME Spot Prices:
Crude: $88.71
Brent Crude: $112.25 (Settle)
Natural Gas: $3.883
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil hovers above $88 amid mixed global equities
quote:

Oil prices hovered above $88 a barrel Tuesday in Asia as global stock markets were mixed amid worries about Europe's debt crisis.Benchmark oil for October delivery was down 1 cent to $88.18 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose 95 cents to settle at $88.19 on Monday.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=46604:eek:il-hovers-above-88-amid-mixed-global-equities&catid=44:latest- news&Itemid=64

CME Spot Prices:
Crude: $89.10
Brent Crude: $111.39
Natural Gas: $4.000
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Opec crude output nears 3-year high
quote:

The Organization of the Petroleum Exporting Countries’ (Opec) oil output is expected to have risen in August to its highest in almost three years due to an increase in Nigerian exports and smaller rises from Saudi Arabia and other Gulf producers, a Reuters survey found.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=46668:eek:pec-crude-output-nears-3-year-high-&catid=30:eek:il-companies-new s&Itemid=225

CME Spot Prices:
Crude: $88.71
Brent Crude: $111.89
Natural Gas: $3.989
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Crude Oil Inventories Declined 5 Million Barrels, API Reports
quote:

Crude oil inventories declined 5.05 million barrels to 344.2 million last week, the American Petroleum Institute said.
Gasoline stockpiles rose 2.76 million barrels to 212.7 million, the report showed.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=46952:crude-oil-inventories-declined-5-million-barrels-api-reports&ca tid=30:eek:il-companies-news&Itemid=225

CME Spot Prices:
Crude: $88.50
Brent Crude: $112.40 (Settle)
Natural Gas: $4.042
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Goldman Sachs Maintains Crude Oil, Copper Forecasts Even as Risks Increase
quote:

Brent crude and copper may rally as global economic growth led by emerging markets remains adequate to drive an expansion in raw-materials demand, Goldman Sachs Group Inc. (GS) said, sticking with forecasts for price gains.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=47119:goldman-sachs-maintains-crude-oil-copper-forecasts-even-as-risk s-increase-&catid=30:eek:il-companies-news&Itemid=225

CME Spot Prices:
Crude: $89.65
Brent Crude: $115.34 (Settle)
Natural Gas: $3.888
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Crude Oil Heads for Fifth Weekly Advance in London on European Debt Plan
quote:

Oil headed for a fifth weekly gain in London, the longest winning streak since March, on bets that a plan to contain Europe’s debt crisis will help shore up fuel demand.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=47274:crude-oil-heads-for-fifth-weekly-advance-in-london-on-european- debt-plan&catid=30:eek:il-companies-news&Itemid=225

CME Spot Prices:
Crude: $87.39
Brent Crude: $112.38
Natural Gas: $3.843

Comment: Looks like the gains are taking a swirly.
 
Dec 2, 2000
58,587
376
283
Easley South Carolina
From The Hellenic Shipping News:

Libya crude output at 1.6 mln bpd by end-2012 - official
quote:

Libya expects oil production to reach 1.6 million barrels per day by the end of next year, a central bank representative said."The full capacity which would be in the range of 1.6 million (barrels per day) I think (will be reached) by the end of 2012," Abdulla Saudi told reporters on the sidelines of an Arab central bankers meeting in the Qatari capital.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=47403:libya-crude-output-at-16-mln-bpd-by-end-2012-official&catid=30: oil-companies-news&Itemid=225

CME Close:
Crude: $87.90
Brent Crude: $112.13
Natural Gas: $3.821