The Oil and Gas Markets

Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

OPEC Risks Bear Market as Libya Output Returns
quote:

The decline in OPEC’s oil below $100 a barrel for the first time since February is raising the likelihood the group will cut production, as Libya revives output and the global economic recovery falters.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=50772:eek:pec-risks-bear-market-as-libya-output-returns-&catid=30:eek:il-co mpanies-news&Itemid=225

CME Spot Prices:
Crude: $79.73
Brent Crude: $102.73 (Settle)
Natural Gas: $3.557
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Oil’s Most Accurate See No Reverse of Worst Run Since 2008
quote:

Brent oil will struggle to recover from its longest slump since the 2008 financial crisis as a weakening global economy cuts growth in demand to the lowest level for any fourth quarter in the past three years.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=50984:eek:ils-most-accurate-see-no-reverse-of-worst-run-since-2008-&cati d=30:eek:il-companies-news&Itemid=225

CME Spot Prices:
Crude: $82.85
Brent Crude: $105.95
Natural Gas: $3.587
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Return of oil supplies weighing on prices —Exxon
quote:

Rising output from Libya and other oil-producing regions is putting downward pressure on crude prices along with the broader economic weakness, the head of Exxon Mobil Corp said.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=51204:return-of-oil-supplies-weighing-on-prices-exxon-&catid=30:eek:il-c ompanies-news&Itemid=225

CME Close:
Crude: $82.78
Brent Crude: $105.84
Natural Gas: $3.484

Comment: The oil companies might want to consider that the other reason that supplies are building up is because the times are tough and nobody wants to buy unless they really have to. Real world economics is funny that way.
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Venezuela's Chavez eyes new oil cartel
quote:

Venezuelan President Hugo Chavez proposed creating a new oil exporters group parallel to OPEC that would include only the "giants" of global petroleum producers.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=51314:venezuelas-chavez-eyes-new-oil-cartel&catid=30:eek:il-companies-ne ws&Itemid=225

Comment: I wonder how this guy will react if the United States is able to join this club???
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Al-Naimi Says Oil Market Not Oversupplied
quote:

Saudi Arabian Oil Minister Ali Al- Naimi said there’s no excess supply in world oil markets and that the kingdom has been adjusting output to match fluctuating demand over recent months.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=51379:al-naimi-says-oil-market-not-oversupplied-&catid=30:eek:il-compani es-news&Itemid=225

CME Spot Prices (Asian Trading Ongoing)
Crude: $83.53
Brent Crude: $106.07
Natural Gas: $3.483
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Oil above $85 amid hope for EU debt crisis plan
quote:

Oil prices hovered above $85 a barrel Tuesday in Asia, pausing after gains of 13 percent over the past week that were fueled by hopes Europe will contain its debt crisis and avoid a global recession.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=51762:eek:il-above-85-amid-hope-for-eu-debt-crisis-plan&catid=30:eek:il-com panies-news&Itemid=225

CME Spot Prices:
Crude: $84.96
Brent Crude: $109.34
Natural Gas: $3.547
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

OPEC cuts forecasts on weak global economy
quote:

The OPEC oil cartel cut its world demand forecasts for 2011 and 2012 for the third time in a row Tuesday, citing uncertainty in the global economy and weaker demand from China and India.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=51824:eek:pec-cuts-forecasts-on-weak-global-economy-&catid=30:eek:il-compan ies-news&Itemid=225

CME Spot Prices:
Crude: $85.61
Brent Crude: $110.73 (Settle)
Natural Gas: $3.613
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Oil falls to near $85 ahead of corporate earnings
quote:

Oil fell to near $85 a barrel Wednesday in Asia ahead of a stream of corporate earnings reports that could shape views on the strength of the U.S. economy and likely demand for crude.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=51982:eek:il-falls-to-near-85-ahead-of-corporate-earnings&catid=30:eek:il-c ompanies-news&Itemid=225

CME Spot Prices:
Crude: $85.73
Brent Crude: $111.71
Natural Gas: $3.529
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

World oil demand may be stronger than expected: IEA
quote:

Global oil demand may be more robust than expected, even with a slowdown in economic growth in the United States and Europe, the chief economist of the International Energy Agency (IEA) said.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=52040:world-oil-demand-may-be-stronger-than-expected-iea-&catid=30:eek:i l-companies-news&Itemid=225

CME Spot Prices:
Crude: $85.06
Brent Crude: $111.36 (Settle)
Natural Gas: $3.484
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Oil hovers above $85 amid demand forecast cuts
quote:

Oil prices hovered above $85 a barrel Thursday in Asia after the International Energy Agency joined OPEC in cutting its forecasts for crude oil demand amid a slowing global economy.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=52200:eek:il-hovers-above-85-amid-demand-forecast-cuts&catid=30:eek:il-comp anies-news&Itemid=225

CME Spot Prices:
Crude: $83.45
Brent Crude: $109.76
Natural Gas: $3.512
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Libya oil output to hit 1 million bpd
quote:

Production from a Libyan oil field will restart within days and the country should be able to pump 1 million barrels per day (bpd) within a year, the interim oil and finance minister said.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=52327:libya-oil-output-to-hit-1-million-bpd-&catid=30:eek:il-companies-n ews&Itemid=225

CME Spot Prices:
Crude: $84.38
Brent Crude: $111.11 (Settle)
Natural Gas: $3.535
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Oil rises above $85 ahead of US economic data
quote:

Oil prices rose above $85 a barrel Friday in Asia as investors looked to a slew of U.S. economic indicators due later in the day for signs about the strength of the world's largest economy.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=52435:eek:il-rises-above-85-ahead-of-us-economic-data&catid=30:eek:il-compa nies-news&Itemid=225

CME Close:
Crude: $87.28
Brent Crude: $114.74
Natural Gas: $3.693
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Fitch: Slowing Global Oil Demand Growth Evident in Recent Data
quote:

Despite this month's recovery in crude oil markets, apparently driven by rising hopes for a plan to address the European debt crisis, Fitch Ratings sees the potential for global demand conditions to soften further over coming weeks as concerns over the outlook for the global economy mount.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=52502:fitch-slowing-global-oil-demand-growth-evident-in-recent-data-& catid=30:eek:il-companies-news&Itemid=225

Comment: So what did anybody expect? When people get this funny idea that the economy is about to tank, they look for ways to tighten their belts!
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Super-spike predictor sees oil tight again
quote:

The Goldman Sachs equity analyst who predicted oil prices would spike to $150-$200 a barrel three years ago said on Friday the market is showing 'stark similarities' to the start of the 2007-2008 bull run.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=52665:super-spike-predictor-sees-oil-tight-again-&catid=30:eek:il-compan ies-news&Itemid=225

CME Spot Prices (Asian Trading Ongoing)
Crude: $87.30
Brent Crude: $112.55 (Decemeber contract)
Natural Gas: $3.742
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Oil above $88 amid improving US economic signs
quote:

Oil prices rose above $88 a barrel Monday in Asia, extending a two-week rally as improved U.S. retail sales added to hopes that the world's biggest economy will avoid a recession this year.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=52823:eek:il-above-88-amid-improving-us-economic-signs&catid=30:eek:il-comp anies-news&Itemid=225

CME Spot Prices:
Crude: $86.33
Brent Crude: $111.01
Natural Gas: $3.687
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Libyan oil flows again as firms move fast to restore production
quote:

Libyan oil production has resumed more quickly than expected, but the country still has enormous political and technical obstacles to surmount before the situation returns to normal, experts said.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=52948:libyan-oil-flows-again-as-firms-move-fast-to-restore-production -&catid=30:eek:il-companies-news&Itemid=225

CME Spot Prices:
Crude: $86.48
Brent Crude: $110.32
Natural Gas: $3.690
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Oil hovers above $86 amid Europe debt plan doubts
quote:

Oil prices hovered above $86 a barrel Tuesday in Asia after comments from Germany that downplayed a possible plan to contain Europe's debt crisis.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=53059:eek:il-hovers-above-86-amid-europe-debt-plan-doubts&catid=30:eek:il-c ompanies-news&Itemid=225

CME Spot Prices:
Crude: $86.47
Brent Crude: $109.24
Natural Gas: $3.609
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Brent crude oil to face tough resistance at $115: Saxo Bank
quote:

Brent Crude Oil outperformed US WTI crude on a combination of continued tightness in the European markets together with news from Dow Jones UBS that its commodity rebalancing at the beginning of 2012 will support Brent crude last week.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=53123:brent-crude-oil-to-face-tough-resistance-at-115-saxo-bank-&cati d=30:eek:il-companies-news&Itemid=225

CME Spot Prices:
Crude: $88.50
Brent Crude: $111.31
Natural Gas: $3.548
 
Dec 2, 2000
58,589
379
283
Easley South Carolina
From The Hellenic Shipping News:

Arab Spring hits oil investment
quote:

The world must invest US$38 trillion (Dh139.58tn) in energy over the next quarter century if it is to meet growing demand, says the International Energy Agency (IEA).
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=53409:arab-spring-hits-oil-investment&catid=30:eek:il-companies-news&Ite mid=225

CME Spot Prices:
Crude: $86.40
Brent Crude: $108.39 (Settle)
Natural Gas: $3.584

Comment: Arab Spring??? Looks to me as if the biggest concern is the Greek debt crisis!