Posted on 05/10/2006 8:51:30 AM PDT by LexHoskin
MAY. 10 10:59 A.M. ET Crude futures fell Wednesday after U.S. government data showed an increase in oil and gasoline supplies and higher refinery output.
Prices continued to be supported, however, by concerns about the outlook for Iran's oil exports amid the country's diplomatic confrontation with the West over its nuclear program. With global demand strong and the supply cushion thin, traders also remain worried about output losses in Nigeria, Iraq and the Gulf of Mexico.
Light, sweet crude for June delivery fell 64 cents to $70.05 a barrel on the New York Mercantile Exchange, where gasoline futures fell 1.66 cents to $2.03 a gallon.
(Excerpt) Read more at businessweek.com ...
Yes they do.
On the news they showed the lake Union fuel dock asking just under $4.00 a gallon. Someone from the station claimed to be making only 1¢ a gallon.
Bush gotta send him one back:
Dear Ahmedi:
Hope ya' don't mind if I call you Ahmedi. I give all my pals nicknames like that. Besides, which, tell ya' the truth, I can't say yer frickin' name anyway.
Listen, buddy, let's just keep in touch, kinda' like pen pals. You know what pen pals are dontcha? It means we keep writin' back and forth to each other, sharin' stuff that's goin' on. It's a kinda' way of keepin' up a friendship from a distance. We can keep lettin' the media know each time one of us sends a letter. Heck, if the price of oil kinda' goes down 'cause we're such good buddies, there ain't much harm in that, right? I mean what's the big deal about a few bucks less a barrel when we're talkin' about friendship?
Your pal,
W (as my friends pronounce it Dubya)
Notice that today right after the announcement that gasoline supplies are high they come back with the announcement that Valero and ConocoPhilips are having refinery problems! I gues that will get the inventory numbers more to their liking. Oil is back up 2%. At this rate
I would almost venture to say that it is going to be a long hot summer in the city. People won't be able to afford to get away raising tensions with the illegals leading to civil unrest.
Sounds like a Kinks song I remember from the eighties.
Less effecient means of oil production are online because they are worth it now, supplies are increased, oil price drops. I expected this to happen.
The ignorant will prefer any scenario that has a remedy for it.
If it's "bad guys", that can be fixed.
With "demand", you are just screwed.
But should we ignore Iran?
"But should we ignore Iran?"
No. But we should engage in dialogue and force the Leftists in this country to say something negative about it.
Then let the Israelis turn tehran into a parking lot.
The Bill O'Reilly boycott is working! I suspect he will take credit for this around 8:01 PM tonight.
Gee, if oil prices are dropping, why did gas go up 16 cents just today...??????
Demand for gasoline averaged 9.35 million barrels a day last week, up 2.7 percent from the prior week, the report showed. U.S. supplies of gasoline, crude oil and distillate fuel rose as imports and refinery operating rates increased. Gasoline pump prices are 32 percent higher than a year ago, according to the AAA, the nation's largest motorist organization.
``At first glance you would think prices would be down because of the rise in inventories, but those are solid gasoline demand numbers,'' said Kyle Cooper, director of research at IAF Advisors in Houston. ``Demand was expected to be weaker because of high prices.''
It sounds like 61% of people polled are ignert about how the market works.
Coincidentally, that is roughly the percentage of people who disapprove of our President. :P
It's going down in VA, do you all allow refineries in WA?
I want to know when royalty owners are going to see an increase in their royalty checks. It will definitely come in handy where I can turn around and spend it on gas to fill up my car.
The last 2 (March and April) months my royalty checks were substantially less than they had been for about 3 months (Jan, Feb, March) prior.
Hmmmph!
Oh no! How are we going to afford yachts for our girl friends?
You may be on 3-year contracts. I'm still getting prices from back then, from right underneath you. But one or two have gone up, or have added new production. I'm more pleased now than I was a couple of months ago (I can eat better and more often, lol).
Also remember, we're two months behind, so this is production from February and we had a mild winter overall. My natural gas checks were better than oil for a while. Also remember, Mar-Apr-May are not so hot for sales, so May-Jun-Jul checks aren't too spiffy, either. Sep-Dec, however, usually look pretty good.
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