Others   

Oil Price

For a start, oil started on positive trading note, then again has fallen below....US$64.

 

 

The reason that oil price swings are more extreme than the swings in the stock market is due to the heavy participation in the oil market by speculators, according to Cordier. "This (recent) rally to $75 was extremely speculative," said Cordier. "It was based on green shoots -- it was based on feeling that the economy was going to recover."

http://money.cnn.com/2009/07/02/news/companies/jobs_june/index.htm?postversion=2009070211

The unemployment rate rose for the ninth straight month, climbing to 9.5% from 9.4%, and hitting another 26-year high. Economists had been expecting that the unemployment rate would hit 9.6%.

* Nearly 3.4 million jobs have been lost during the first half of 2009, more than the 3.1 million lost in all of 2008.

teeth53 thot: news such as above * really do not help to boosted oil and stocks

 

http://money.cnn.com/2009/07/06/markets/oil.reut/index.htm 

Crude prices fall to $64 a barrel as rising unemployment calls into question the likelihood of an economic recovery. Oil fell more than 4% to $64 a barrel Monday as doubts over a potential rebound in the global economy spurred investor risk aversion.

U.S. crude traded down $2.68 from Thursday's close to settle at $64.05 a barrel Monday. U.S. markets were closed Friday for the Independence Day holiday weekend.

That's the lowest settle price since May 27, when crude ended at $63.45.

Optimism that an economic recovery could bolster demand has helped lift crude off December lows below $33 a barrel. Recent weak economic data -- including a poor U.S. jobs report last week -- has weighed on markets

Click the chart for current oil prices.

 

Hope for the worst is over...Ya, still...this is d answer...a bigger selloff can probably be avoided

"We are moving out of the paralysis phase that followed the collapse of Lehman Brothers and back into a recession phase," said Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. "I think people have confused that transition with the beginning of a recovery."

The North K is not about to start a war, but to seek better return, just my own personnal thot.

 

For oil price, i thk there will be some more correction b4 it rally back.

But if North Korea start war, the rally maybe back sooner..............

 

Btw the much worse than expected June jobs report is actually due to the bankrupt of GM company.

Emm whether recovery is ongoing or not, time will tell.

Let continue to monitor..........

Hope the worst is over.....

 

OIL $1.10 -1.65% to US $65.63 per barrel.

http://money.cnn.com/2009/07/02/markets/markets_weekahead/index.htm?postversion=2009070415 

Stocks, as measured by the S&P 500, rallied 40% between the March 9 lows and the June 11 highs. But in the weeks since, stocks have drifted lower, with the S&P 500 sliding 5% as bets that the economy is close to stabilizing turned to worries that the market jumped the gun.

"We are moving out of the paralysis phase that followed the collapse of Lehman Brothers and back into a recession phase," said Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. "I think people have confused that transition with the beginning of a recovery."

Friday's much worse than expected June jobs report sent investors heading for the exits in a thinly traded session ahead of the Independence Day holiday weekend.

The next few weeks on Wall St are unlikely to give investors any reason to jump back into stocks. But enough optimism remains in place and enough government money will flood the system - that a bigger selloff can probably be avoided, said Gary Webb, CEO at Webb Financial Grp.

 S&P 500 lost 11.7% in the first quarter and gained it back and then some in the second quarter.

teeth53      ( Date: 03-Jul-2009 21:43) Posted: http://money.cnn.com/2009/07/03/news/economy/oil.reut/index.htm?postversion=2009070308 July 3, 2009: 8:27 AM ET. Oil prices fell to less then $67  Oil below $67 Oil prices have doubled from a low of $32.40 a barrel in December last year and surged over 42% in the last quarter - the largest quarterly gain since 1990 - partly on hopes of economic recovery. Latest economic data is suggesting that a global recovery will be choppy this year, if it occurs at all. Economists have warned that surging unemployment would be one of the key threats to a sustainable recovery. JP Morgan said in a report on Friday that it expects oil prices to correct from the recent rally to about $60 a barrel or lower, amid demand weakness. Analysts who use past price moves to predict price direction see a similar prospect. "Risks are shifting for a downside correction toward $60 in the weeks ahead before the larger bull trend resumes," Barclays Capital technical analysts said.  teeth53      ( Date: 03-Jul-2009 21:28) Posted: http://money.cnn.com/2009/07/02/markets/year_oil/index.htm From July 3 to Dec. 19, the S&P 500 fell 30%. But in the same period, oil prices sank 77%. The reason that oil price swings are more extreme than the swings in the stock market is due to the heavy participation in the oil market by speculators, according to Cordier. "This (recent) rally to $75 was extremely speculative," said Cordier. "It was based on green shoots -- it was based on feeling that the economy was going to recover." On Thursday, it settled at $66.73. On Friday, the government reported that the unemployment rate increased to 9.5% in June 09.

 

http://money.cnn.com/2009/07/03/news/economy/oil.reut/index.htm?postversion=2009070308

July 3, 2009: 8:27 AM ET. Oil prices fell to less then $67 

Oil prices have doubled from a low of $32.40 a barrel in December last year and surged over 42% in the last quarter - the largest quarterly gain since 1990 - partly on hopes of economic recovery.

Latest economic data is suggesting that a global recovery will be choppy this year, if it occurs at all. Economists have warned that surging unemployment would be one of the key threats to a sustainable recovery.

JP Morgan said in a report on Friday that it expects oil prices to correct from the recent rally to about $60 a barrel or lower, amid demand weakness. Analysts who use past price moves to predict price direction see a similar prospect.

"Risks are shifting for a downside correction toward $60 in the weeks ahead before the larger bull trend resumes," Barclays Capital technical analysts said. 

teeth53      ( Date: 03-Jul-2009 21:28) Posted: http://money.cnn.com/2009/07/02/markets/year_oil/index.htm From July 3 to Dec. 19, the S&P 500 fell 30%. But in the same period, oil prices sank 77%. The reason that oil price swings are more extreme than the swings in the stock market is due to the heavy participation in the oil market by speculators, according to Cordier. "This (recent) rally to $75 was extremely speculative," said Cordier. "It was based on green shoots -- it was based on feeling that the economy was going to recover." On Thursday, it settled at $66.73. On Friday, the government reported that the unemployment rate increased to 9.5% in June 09.

 

http://money.cnn.com/2009/07/02/markets/year_oil/index.htm

From July 3 to Dec. 19, the S&P 500 fell 30%. But in the same period, oil prices sank 77%.

The reason that oil price swings are more extreme than the swings in the stock market is due to the heavy participation in the oil market by speculators, according to Cordier. "This (recent) rally to $75 was extremely speculative," said Cordier. "It was based on green shoots -- it was based on feeling that the economy was going to recover."

On Thursday, it settled at $66.73. On Friday, the government reported that the unemployment rate increased to 9.5% in June 09.

 

Caltex just started a retail pump war with 92 octane at 2.2 cents cheaper then norm, widening the V-power (shell) preminm most expensive.

 

I think the worse is still have yet to be..we have many AIGs like  coming up..looking to sell..and put more gold and silver...waiting for them to selldown gold for me to enter..

They will sell gold to cover their stock losses...i am waiting..

Sell to any inspire rally..

 

Yes, oil at low ..how low can it go...25...so u lose 15...but it can go as high as 100...of course long term..so can we long on sembmarine..and energy relate stock now???no way..the deflation road is long and winding..

 

What happen if CO go to 25....no more airplane...all bankrupt, becos of hedging again...then we go over tour holiday using horese and donkey..

i think we better buy horses and keep...save oil and evironmental friendly..

 

Now, this is d best time, to take advantage of d not so expensive crude oil, for non oil producing couontries, esp d emerging strong Asian region, to stock pile d CO. OPEC definitely will counter measure to uplift the CO price during their next meeting later in Mar..

Most aviation coy kena burnt by CO hedging when CO px was skyrocketing high. Ak think it is also a good time now for the coy to hedge again, an indirect averaging. Apr -  Sep future,all below 45 USD.

Above is for sharing only. Though d above dictates CO may slide further owing to demand.

 

Oil fall $4.61 or 10.3% to closed at 40.15 on news AIG borrowing 3rd round US$30,000,000,000 Billions from US treasury

 

up and down on big ranges...just days ago it shot up high and went up by quite a percentage...and today...just plunge 10% around $40 once again

Andrew      ( Date: 28-Feb-2009 12:46) Posted: I am puzzle ?? oil price jump 10 buck to 44 in one week.  But we have been hearing that traders are taking delivery of the futures, taking the real crude and store it up !!!! They store to the extend that ALL the storage facilities on this planet is FULL !!!  Yes, not more space to store.  And they are renting supertanker to do the job.  The takeup rate of supertanker has been up from 6 to 27 tankers in the last 3~6mths. You can probably do your IPPT 2.4km run on this tanker.....it is that BIG!! We are flooded with crude......are they trying to pump and dump again ???   teeth53      ( Date: 28-Feb-2009 11:49) Posted: http://www.channelnewsasia.com/stories/afp_world_business/view/412079/1/.html Oil prices covered a range between 37.65 dollars n Thursday's high of 45.30 this wk, Crude New York's main contract, light sweet crude for April delivery, fell 46 cents lower from Thursday's close to end at 44.76 dollars a barrel. He said. Oil prices have slumped since hitting a record high above 147 dollars in July, said Andy Lipow, Lipow Oil Associates. The US economy contracted a stronger-than-expected 6.2 percent in the 4th quarter, the Commerce Department said just before markets opened Friday, highlighting the stunning meltdown in activity late last year in the world's biggest oil consuming nation. The figure was far worse than the negative 5.4 percent annual rate expected by most analysts and the sharpest contraction since the 1st quarter of 1982.

 

Taking d advantage of low CO, China had stored up huge vol of CO. I think d new built underground storage tank had been filled up liao. I presume they will not stopping to stock pile more.

Had download some of my  SPC last 2 weeks. 

 

I am puzzle ?? oil price jump 10 buck to 44 in one week.  But we have been hearing that traders are taking delivery of the futures, taking the real crude and store it up !!!!

They store to the extend that ALL the storage facilities on this planet is FULL !!!  Yes, not more space to store.  And they are renting supertanker to do the job.  The takeup rate of supertanker has been up from 6 to 27 tankers in the last 3~6mths. You can probably do your IPPT 2.4km run on this tanker.....it is that BIG!!

We are flooded with crude......are they trying to pump and dump again ???

 

teeth53      ( Date: 28-Feb-2009 11:49) Posted: http://www.channelnewsasia.com/stories/afp_world_business/view/412079/1/.html Oil prices covered a range between 37.65 dollars n Thursday's high of 45.30 this wk, Crude New York's main contract, light sweet crude for April delivery, fell 46 cents lower from Thursday's close to end at 44.76 dollars a barrel. He said. Oil prices have slumped since hitting a record high above 147 dollars in July, said Andy Lipow, Lipow Oil Associates. The US economy contracted a stronger-than-expected 6.2 percent in the 4th quarter, the Commerce Department said just before markets opened Friday, highlighting the stunning meltdown in activity late last year in the world's biggest oil consuming nation. The figure was far worse than the negative 5.4 percent annual rate expected by most analysts and the sharpest contraction since the 1st quarter of 1982.

 

http://www.channelnewsasia.com/stories/afp_world_business/view/412079/1/.html

Oil prices covered a range between 37.65 dollars n Thursday's high of 45.30 this wk,

Crude New York's main contract, light sweet crude for April delivery, fell 46 cents lower from Thursday's close to end at 44.76 dollars a barrel. He said. Oil prices have slumped since hitting a record high above 147 dollars in July, said Andy Lipow, Lipow Oil Associates.

The US economy contracted a stronger-than-expected 6.2 percent in the 4th quarter, the Commerce Department said just before markets opened Friday, highlighting the stunning meltdown in activity late last year in the world's biggest oil consuming nation.

The figure was far worse than the negative 5.4 percent annual rate expected by most analysts and the sharpest contraction since the 1st quarter of 1982.

 

http://sg.news.yahoo.com/ap/20090217/twl-oil-prices-1be00ca.html (for more info...pls click)

VIENNA - Dismal global economic news dragged oil prices close to $37 Tuesday, with rising supplies and inventories offsetting expectations of further OPEC production cuts. Prices have fallen 75 percent since peaking at $147.27 in July as a credit crisis in the U.S. sub-prime mortgage sector has mushroomed into the worst global economic downturn in decades.

U.S. crude inventories have soared in recent weeks, reflecting a pull back in spending despite a drop in gasoline prices.

Poor economic data from Japan, the world's second-biggest economy, further discouraged investors. It said Monday its economy shrank 3.3 percent in the fourth quarter from the previous quarter, the worst performance since 1974.

"The economic and inventory data paint a bleak picture for oil demand,

"If prices are in the $30s going into the next OPEC meeting, we may see further cuts," Shum said.

In other Nymex trading, gasoline futures rose 1 cent to $1.21 a gallon. Heating oil fell 4 cents to $1.26 a gallon, while natural gas for March delivery dropped 16 cents to $4.29 per 1,000 cubic feet.