Crude and Natural Gas Daily Information...

[frawin]

Feb-11 Crude is trading at $90.70, down $0.70, Feb-11 Natural Gas is trading at $4.445, up $0.04.


http://www.bloomberg.com/news/2011-01-14/crude-oil-falls-a-second-day-as-u-s-economy-signals-slowing-fuel-demand.html

[kshillbillys]

OK? it would be nice to see it fall at the pump ! 

[frawin]

Feb-11 crude settled at $91.54, up $0.14 on the day. Feb-11 Natural Gas settled at $4.48, up $0.075 on the day.

[frawin]

Unfortunately, I think the decline will be minimal and the price will go  up  as China increases their consumption levels. We created an energy guzzling monster and it's appetite continues to increase.


http://www.bloomberg.com/news/2011-01-17/crude-oil-slides-as-alyeska-prepares-to-start-trans-alaksa-pipeline-system.html

[frawin]

Front month, March-11 crude settled at $89.59, down $2.21 on the day.
Feb-11 Natural Gas settled at $4.695, up $0.135 on the day.
Our Neighborhood pump price is $2.87. I expect it to be down some tomorrow.
China has a big impact on the price of crude and will have more impact in the future.

[frawin]

It is just a matter of time before demand exceeds all available supply. The current world consumption of 32 Billion Barrels a year,( and that doesn't include the billions of barrels of Natural Gas Liquids that are blended into Gasoline and other products) and growing can't be maintained forever.

Oil Drops in New York After Saudi Arabia's Al-Naimi Signals More Supplies
Crude for delivery in March dropped for a fifth day after Saudi Arabian Oil Minister Ali al-Naimi signaled OPEC may increase supply to meet growing demand in China and India.
..

[frawin]

March-11 Crude is trading at $86.95, up $0.75.Feb-11 Natural Gas is trading at $4.445, down $0.03.



http://www.bloomberg.com/news/2011-01-25/oil-futures-decline-near-eight-week-low-as-economies-struggle-to-recover.html

[frawin]

Summary of Weekly Petroleum Data for the Week Ending February 4, 2011
U.S. crude oil refinery inputs averaged 14.3 million barrels per day during the week ending February 4, 42 thousand barrels per day above the previous week's average. Refineries operated at 84.7 percent of their operable capacity last week. Gasoline production increased last week, averaging 9.1 million barrels per day. Distillate fuel production increased last week, averaging 4.3 million barrels per day.
U.S. crude oil imports averaged 8.9 million barrels per day last week, down by 105 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged 9.1 million barrels per day, 783 thousand barrels per day above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1.0 million barrels per day. Distillate fuel imports averaged 296 thousand barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.9 million barrels from the previous week. At 345.1 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories increased by 4.7 million barrels last week and are above the upper limit of the average range. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 0.3 million barrels and are above the upper limit of the average range for this time of year. Propane/propylene inventories decreased by 3.1 million barrels last week and are below the lower limit of the average range. Total commercial petroleum inventories increased by 3.2 million barrels last week.
Total products supplied over the last four-week period has averaged 19.1 million barrels per day, up by 0.8 percent compared to the similar period last year. Over the last four weeks, motor gasoline demand has averaged 8.6 million barrels per day, down by 0.3 percent from the same period last year. Distillate fuel demand has averaged 3.7 million barrels per day over the last four weeks, down by 0.1 percent from the same period last year. Jet fuel demand is 1.6 percent higher over the last four weeks compared to the same four-week period last year.

[frawin]

The consequences from this could be bad for the US and world economy. Obama and the left are trying to hamstring the US oil industry and couple with other world problems, oil could go much higher.



http://www.bloomberg.com/news/2011-02-15/oil-climbs-most-in-two-weeks-on-u-s-economic-reports-middle-east-unrest.html

[frawin]

It should be no surprise that Energy costs are going higher. Americans continue as the most wasteful Nation on Earth, that coupled with our current Washington policy of limiting drilling and taxing the Oil & Gas Industry can only drive Energy costs higher. The worst is yet to come.


Crude Rises in London as Protests in Mideast Fan Supply Fears
http://www.bloomberg.com/news/2011-02-18/crude-rises-in-london-as-protests-in-libya-bahrain-fuel-supply-concern.html