The Oil and Gas Markets

[Michael H. Standart]

From The Hellenic Shipping News:

Fitch: resurgent Libyan oil production positive for ENI, OMV

quote:

Fitch understands that Libya's National Transitional Council has indicated it will honour the terms of existing oil and gas contracts at present. However, this does not preclude the NTC from future reviews of the oil and gas contracts' terms.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=53639:fitch-resurgent-libyan-oil-production-positive-for-eni-omv-&cat id=30il-companies-news&Itemid=225

CME Spot Prices:
Crude: $86.35
Brent Crude: $109.76 (Settle)
Natural Gas: $3.631

Comment: Colonel Gaddafi's death today may not help with this situation, but it can't hurt either.

 

[Michael H. Standart]

From The Hellenic Shipping News:

Oil prices above $86 ahead of Europe debt talks

quote:

Oil prices rose slightly toward $87 a barrel Friday in Asia ahead of a summit this weekend where European leaders will try to agree on a plan to contain their region's debt crisis.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=53716il-prices-above-86-ahead-of-europe-debt-talks&catid=30il-com panies-news&Itemid=225

CME Close:
Crude: $87.49
Brent Crude: $109.79
Natural Gas: $3.646

 

[Michael H. Standart]

From The Hellenic Shipping News:

Barclays Expects Oil Prices To Remain Resilient In 2012

quote:

Tight supply promises to keep oil prices relatively resilient in 2012, even if world GDP actually contracted, so say a handful of industry analysts at Barclays Capital in London.

More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=53784:barclays-expects-oil-prices-to-remain-resilient-in-2012-&catid= 30il-companies-news&Itemid=225

 

[Michael H. Standart]

From The Hellenic Shipping News:

U.S. oil speculators hike bullish NYMEX bets

quote:

Speculators raised their net long position in U.S. crude oil and options positions in the week to Oct. 18 as prices rallied, data from the U.S. Commodity Futures Trading Commission showed.

More at http://www.hellenicshippingnews.com/index.php?opti on=com_content&view=article&id=54001:us-oil-specul ators-hike-bullish-nymex-bets&catid=30il-compani es-news&Itemid=225

CME Spot Prices (Asian Trading Ongoing)
Crude: $87.95
Brent Crude: $109.56 (Settle)
Natural Gas: $3.626

 

[Michael H. Standart]

From The Hellenic Shipping News:

Why is the oil price still so high?

quote:

Releasing 60m barrels of reserves was meant to dampen the high price of $113 per barrel, attributed to lost ouput from war-torn Libya and worries that the Arab Spring could spread to more oil producers.

More at http://www.hellenicshippingnews.com/index.php?opti on=com_content&view=article&id=54225:why-is-the-oi l-price-still-so-high&catid=30il-companies-news& Itemid=225

CME Spot Prices:
Crude: $91.36
Brent Crude: $110.74
Natural Gas: $3.599

 

[Michael H. Standart]

From The Hellenic Shipping News:

Oil Prices May Reverse Rally as Europe Debt Fears Linger: Survey

quote:

Oil markets this week may reverse a rally that's sent benchmark U.S. futures surging above $90 a barrel on claims by European leaders that they're making progress on containing the region's debt crisis, CNBC's weekly survey showed.

More at http://www.hellenicshippingnews.com/index.php?opti on=com_content&view=article&id=54386il-prices-ma y-reverse-rally-as-europe-debt-fears-linger-survey &catid=30il-companies-news&Itemid=225

CME Spot Prices:
Crude: $93.30
Brent Crude: $111.19
Natural Gas: $3.663

 

[Michael H. Standart]

From The Hellenic Shipping News:

Oil rises near $94 as traders eye Europe debt plan

quote:

Oil prices rose to near $94 a barrel in Asia as traders bet Europe will announce a plan later Wednesday that helps solve its debt crisis.

More at http://www.hellenicshippingnews.com/index.php?opti on=com_content&view=article&id=54567il-rises-nea r-94-as-traders-eye-europe-debt-plan&catid=30il- companies-news&Itemid=225

CME Spot Prices:
Crude: $91.63
Brent Crude: $109.84
Natural Gas: $3.772

 

[Michael H. Standart]

From The Hellenic Shipping News:

Oil jumps to above $92 after Europe debt plan

quote:

Oil prices jumped to above $92 a barrel Thursday in Asia after European leaders agreed on a plan to reduce Greece's debt burden.Benchmark crude for December delivery was up $1.95 at $92.15 a barrel at afternoon Singapore time in electronic trading on the New York Mercantile Exchange.

More at http://www.hellenicshippingnews.com/index.php?opti on=com_content&view=article&id=54807il-jumps-to- above-92-after-europe-debt-plan&catid=30il-compa nies-news&Itemid=225

CME Spot Prices:
Crude: $93.61
Brent Crude: $111.55
Natural Gas: $3.806

 

[Steven Christian]

So I went to fill up my little truck today and got a pleasant surprise. I was on empty and it wouldn't even take $20. I got curious about fuel prices for other things. Looked up bunker fuel for ships...running about 1/3 the price from 4 months ago. What I didn't know was how many different types of bunker fuels there were. From doing a some reading it seems its just whatever you fill up the bunkers with is called bunker fuel. Diesiel, crude oil, HFO, IFO, used cooking oil, camel droppings...ect. I guess if your just using it to heat water to make steam it doesnt matter what it is and is labled bunker fuel.