The Oil and Gas Markets

Dec 2, 2000
58,584
376
283
Easley South Carolina
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

US set to become top oil producer by 2017: Study
quote:

The US will soon become the world’s number one oil producer, Goldman Sachs said.US crude oil production should reach 10.9 million bpd by year 2017, a 33 percent higher than 8.3 million barrels currently, the report said.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=47502:us-set-to-become-top-oil-producer-by-2017-study-&catid=30:eek:il-c ompanies-news&Itemid=225

CME Spot Prices (Asian Trading ongoing):
Crude: $86.79
Brent Crude: $111.43
Natural Gas: $3.801
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil falls to below $87 amid stronger US dollar
quote:

Oil prices fell to below $87 a barrel Monday in Asia as investor concerns about Europe's debt crisis fueled a stronger U.S. dollar.Benchmark oil for October delivery was down $1.12 at $86.84 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=47672:eek:il-falls-to-below-87-amid-stronger-us-dollar&catid=30:eek:il-comp anies-news&Itemid=225

CME Spot Prices:
Crude: $85.77
Brent Crude: $109.49
Natural Gas: $3.806
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

China invests billions in Canada oil sands
quote:

As U.S. companies look toward oil riches in northern Canada, they're encountering increasing competition - as well as some much-needed cash infusions - from the Far East.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=47793:china-invests-billions-in-canada-oil-sands&catid=30:eek:il-compani es-news&Itemid=225

CME Spot Prices:
Crude: $85.58
Brent Crude: $109.10
Natural Gas: $3.830
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil rises above $86 ahead of Fed policy meeting
quote:

Oil prices rose above $86 a barrel Tuesday in Asia as investors looked to a U.S. central bank meeting this week for measures to boost economic growth.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=47894:eek:il-rises-above-86-ahead-of-fed-policy-meeting&catid=30:eek:il-com panies-news&Itemid=225

CME Spot Prices:
Crude: $86.94
Brent Crude: $110.80
Natural Gas: $3.811
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

Call on OPEC oil supply at 30 mln bpd until end-2011-Badri
quote:

The call on OPEC producers to supply to the market is expected to remain steady at 30 million barrels per day (bpd) until the end of the year, OPEC Secretary General Abdullah al-Badri said on Tuesday, while expressing concern over Europe's debt issue.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=47958:call-on-opec-oil-supply-at-30-mln-bpd-until-end-2011-badri-&cat id=30:eek:il-companies-news&Itemid=225

CME Spot Prices:
Crude: $86.89 (Settle) $86.62 (Nov contract)
Brent Crude: $110.58
Natural Gas: $3.790
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

Investors scale back oil price view to $90: survey
quote:

Investors in crude futures and energy equities have scaled back their expectations of oil prices over the coming year, highlighting a deepening divide versus more bullish sell-side analysts on Wall Street.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=48177:investors-scale-back-oil-price-view-to-90-survey-&catid=30:eek:il- companies-news&Itemid=225

CME Spot Prices:
Crude: $84.69
Brent Crude: $110.36
Natural Gas: $3.712
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil falls near $83 as Fed warns of economic risks
quote:

Oil prices plunged to near $83 a barrel Thursday in Asia, extending losses from the previous session after the U.S. central bank warned that already weak economic growth could deteriorate further.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=48343:eek:il-falls-near-83-as-fed-warns-of-economic-risks&catid=30:eek:il-c ompanies-news&Itemid=225

CME Spot Prices:
Crude: $81.07
Brent Crude: $106.21
Natural Gas: $3.717
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil below $81 amid growing global economy fears
quote:

Oil prices hovered below $81 a barrel Friday in Asia, gaining back a little of the previous day's big loss amid the prospect of weaker demand for crude as the global economy slows.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=48549:eek:il-below-81-amid-growing-global-economy-fears&catid=30:eek:il-com panies-news&Itemid=225

CME Close:
Crude: $79.96
Brent Crude: $103.89
Natural Gas: $3.693

Comment: Enjoy the lower prices while they last! They won't last long.
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

What is wrong with oil price forecasts?
quote:

Researchers at Goldman Sachs are on course to win the prize for most successful oil price forecasts of 2011, followed close behind by analyst teams at JP Morgan and Nomura.

Back in December, Goldman forecast Brent would average $100 in 2011, followed by predictions of $95 by JP Morgan and Nomura.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=48788:what-is-wrong-with-oil-price-forecasts-&catid=30:eek:il-companies- news&Itemid=225

CME Spot Prices:
Crude: $79.67
Brent Crude: $103.82
Natural Gas: $3.689

Comment: Probably the safest prediction to make is that speculators will try their level best to drive prices up but will be bucking market pressures from a faltering economy, the threat of a double dip recession, and assorted national debt crisis to keep them down.

The riskiest prediction? Which is going to win out!
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil near $79 as Europe debt crisis moves awaited
quote:

Oil prices fell below $79 a barrel Monday in Asia as markets awaited Europe's next moves to tackle a prolonged debt crisis that threatens to drag the continent into recession.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=48953:eek:il-near-79-as-europe-debt-crisis-moves-awaited&catid=30:eek:il-co mpanies-news&Itemid=225

CME Spot Prices:
Crude: $81.95
Brent Crude: $105.43
Natural Gas: $3.790

Comment: Somehow, it just rings hollow that the U.S. is telling the Greeks to get thier debt crisis solved once and for all when his own country can't do the same.
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

OPEC ‘Not a Constraint’ to Iraqi Oil Output, Official Says
quote:

Iraq can produce as much as 5 million barrels a day of oil without needing to ask for OPEC’s permission, as this is a sovereign decision, the chairman of the Iraqi parliament’s oil and energy committee said.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=49250:eek:pec-not-a-constraint-to-iraqi-oil-output-official-says-&catid= 30:eek:il-companies-news&Itemid=225

CME Spot Prices:
Crude: $83.08
Brent Crude: $106.27
Natural Gas: $3.869
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil falls below $84 in Asia ahead of US data
quote:

Oil prices fell below $84 a barrel Wednesday in Asia ahead of U.S. economic data this week that will provide clues about the future strength of demand for crude.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=49411:eek:il-falls-below-84-in-asia-ahead-of-us-data&catid=30:eek:il-compan ies-news&Itemid=225

CME Spot Prices:
Crude: $80.75
Brent Crude: $103.55
Natural Gas: $3.778
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

Morgan Stanley cuts its view of oil prices
quote:

Morgan Stanley has cut its Brent crude forecast for 2012 to $100 a barrel from $130 a barrel on forecasts of returning supply from Libya, Canada and the North Sea and weaker global demand.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=49694:morgan-stanley-cuts-its-view-of-oil-prices-&catid=44:latest-new s&Itemid=64

CME Spot Prices:
Crude: $82.65
Brent Crude: $104.29
Natural Gas: $3.745
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

Oil above $82 as recession worries fade for now
quote:

Oil prices inched higher Friday as recession alarm bells quieted following a glimmer of positive U.S. economic news and steps in Europe toward controlling its debt crisis.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=49846:eek:il-above-82-as-recession-worries-fade-for-now&catid=30:eek:il-com panies-news&Itemid=225

CME Spot Prices:
Crude: $80.57
Brent Crude: $102.71
Natural Gas: $3.726

Comment: With the markets going back into the red right now, it looks like the good vibes didn't last long. Stay tuned for tonights closing bell!
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

Iraq, Libya and Angola raising oil supplies
quote:

Supply from all 12 members of the Organization of the Petroleum Exporting Countries is expected to average 30.25 million barrels per day (bpd) this month, up from 30.15 million bpd in August, the survey of sources at oil companies, OPEC officials and analysts found.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=49976:iraq-libya-and-angola-raising-oil-supplies-&catid=30:eek:il-compan ies-news&Itemid=225

CME Close:
Crude: $78.90
Brent Crude: $102.46
Natural Gas: $3.662

Comment: What a roller coaster this week has been!
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

China to North America: Send us your oil
quote:

As Americans quarrel over whether fossil fuels belong in their future, Asian countries are taking a powerful message to Washington this week: Ship your oil and gas to us.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=50161:china-to-north-america-send-us-your-oil&catid=30:eek:il-companies- news&Itemid=225

CME Spot Prices (Asian trading ongoing):
Crude: $78.04
Brent Crude: $101.85
Natural Gas: $3.650

Comment: I wonder if this means the U.S. and Canada will be invited to join OPEC???
 
Dec 2, 2000
58,584
376
283
Easley South Carolina
From The Hellenic Shipping News:

EU crisis, prospects of weaker oil demand a threat to OPEC nations
quote:

Oil market looks balanced, but demand outlook shows gloomy picture because of global economic problems specially in Europe, UAE OPEC Governor Ali Obaid Al Yabhouni said at the 19th annual Middle East Petroleum & Gas Conference.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=50535:eu-crisis-prospects-of-weaker-oil-demand-a-threat-to-opec-natio ns-&catid=30:eek:il-companies-news&Itemid=225

CME Spot Prices:
Crude: $78.02
Brent Crude: $99.79 (Settle)
Natural Gas: $3.658