Posted on 04/07/2011 11:50:37 AM PDT by Signalman
Light, sweet crude for May delivery rose $1.07, or 1%, to $109.90 a barrel on the New York Mercantile Exchange. It traded as high as $109.99 a barrel, according to FactSet Research.
Prices had traded in the red off and on, however, as some investors judged current prices overdone.
A better-than-expected data on U.S. jobless claims underpinned oil’s run, but prices also felt the pinch of a stronger dollar and falling U.S. equities. News out of the Middle East and North Africa didn’t make that many headlines.
“The U.S. so far has not shown the weakness that people had been fearing,” and oil appeared to be benefitting from that sentiment on Thursday, said Michael Lynch, president of Strategic Energy & Economic Research in Massachusetts.
(Excerpt) Read more at marketwatch.com ...
So the networks will be flooded again with tearful stories of starving children to get gas thanks to the President.
The list, ping
Let me know if you would like to be on or off the ping list
Obama smiles.
$122.14 in London - fast approaching $125.
That would be Brent Crude. Which has been fetching a $10+ premium over Light Sweet Crude.
Ping.
But wait, the prices dropped and the election was over in 2008, so no issue.
Drilling moratorium might not have been such a great idea, huh?
But wait, in 2010 when it dominated the news headlines it was a good “sound bite.”
Political time lines, short sighted, based on what's in the news and popular.......we're running this nation like some third rate tin pot Caribbean regime.
We are not missing a single drop of crude. 
We are refining crude exactly on schedule. 
Our gasoline reserve supply is at the top of the average amount... 
But the price of gas is doing this... 
Odd, it does not match any of the other charts.
.
“Anything to hurt America.”
That chart shows why WTI (US) is ~$10 cheaper than Brent (Europe).
Supply is going up:
But so is demand:
Not to mention the current disruptions of supply in the Middle East.
International Energy Agency
Oil Market Report
http://omrpublic.iea.org/
From what?
The new refineries being built?
The doubling and tripling of wages to those in the business over the past two years?
The massive tax increases on crude, production, gas and road taxes?
Replacing all those oceangoing tankers in the past two years?
Replacing massive amounts of crude oil piplines? Where is the overhead that is pushing up the prices from less than $50 bbl to $110 in two years?
The disruption of supply from the M.E.? So the percentage of supply from the M.E. has been so disrupted it cut the world supply in half? The price of crude sure has doubled.
Libya supplies 1.52% of the global supply.
1.52 percent.
Being in the IT industry I wish my product pricing would have doubled since 2009. The demand sure has gone up. But I am told pricing has gone down due to the volume increasing and a bigger, more competitive market, therefore no raises at all. There damn sure is no doubling of MY income due to increase in demand.
.
Do you say the same things about the price of gold and silver?
Nearly all commodities are up.
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