Crude and Natural Gas Daily Information...

Started by frawin, December 20, 2010, 07:28:45 AM

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frawin

#50
March 10, 2011, 02:09:43 PM
APRIL CRUDE SETTLED AT $102.70, DOWN $1.675, IT WAS DOWN AS LOW AS $100.725. There was a sizable volume of contracts done for April.

frawin

#51
March 11, 2011, 06:36:59 AM Last Edit: March 11, 2011, 06:41:58 AM by frawin
Oil Plunges as Japan's Refiners Shut Plants After Earthquake


April Crude is trading at $99.80, down $2.90, this morning.

frawin

#52
March 11, 2011, 02:22:09 PM
April Crude settled at $101.16, down $1.54 on the day.

sodbuster

#53
March 11, 2011, 05:43:54 PM
Quote from: frawin on March 11, 2011, 06:36:59 AM
Oil Plunges as Japan's Refiners Shut Plants After Earthquake


April Crude is trading at $99.80, down $2.90, this morning.

Why did the quote for oil plunge after Japan refiners shut plants after the earthquake? I can't imagine how that would cause a 3% drop in the price of oil. Luckily, my Uncle Frank is a oil man who can explain it to me.  ??? :)

David
Breathe deep the gathering gloom,Watch lights fade from every room.Bedsitter people look back and lament,Another day's useless energy spent.Impassioned lovers wrestle as one,Lonely man cries for love and has none.New mother picks up and suckles her son,Senior citizens wish they were young.MoodyBlues

Wilma

#54
March 11, 2011, 06:14:55 PM
Will this affect the price of gas and how soon?  It doesn't take any time at all for the price of gasoline to go up when the price of oil goes up.

srkruzich

#55
March 11, 2011, 07:15:52 PM
I would assume that since japans ports are damaged they would not be able to unload oil. So that oil is sitting on ships and needs to be dumped somewhere which should drop oil prices.
Curb your politician.  We have leash laws you know.

sodbuster

#56
March 11, 2011, 07:25:12 PM
Quote from: srkruzich on March 11, 2011, 07:15:52 PM
I would assume that since japans ports are damaged they would not be able to unload oil. So that oil is sitting on ships and needs to be dumped somewhere which should drop oil prices.


Steve that would not explain a 3% drop in the world price of oil. Oil sitting off the coast of Japan is way less than 3% of supply. Has to be other market factors.
Breathe deep the gathering gloom,Watch lights fade from every room.Bedsitter people look back and lament,Another day's useless energy spent.Impassioned lovers wrestle as one,Lonely man cries for love and has none.New mother picks up and suckles her son,Senior citizens wish they were young.MoodyBlues

frawin

#57
March 12, 2011, 07:52:10 AM Last Edit: March 12, 2011, 09:32:58 AM by frawin
The Earthquake had both a Physical and Psychological impact on the market. The article below explains it very well.


"Oil fell below $100 a barrel in New
York for the first time in more than a week after Japan’s
strongest earthquake in at least a century forced refiners to
shut several processing plants."
http://www.bloomberg.com/news/2011-03-11/oil-plunges-as-japan-s-refiners-shut-plants-after-8-9-magnitude-earthquake.html

frawin

#58
March 14, 2011, 05:56:42 AM
Crude is trading down this morning at $99.375, down $1.775. Pump prices should come down today, our neighborhood price is $3.34 for regular.

frawin

#59
March 14, 2011, 02:43:31 PM
Crude oil ended the session flat to slightly higher on the day, it closed $101.19 up $0.04.
Saudi troops entered Bahrain, and brought crude back up after being down as much as $2.70 during the trading session.
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