Better Fill up today

[frawin]

Nov-08 Crude oil settled at $97.37, down $10.52 on the day. Nov-08 Natural Gas settled at $7.221, down $0.407 on the day. If crude continues to fall it will be interesting to see what the worlds crude oil Exporters do.

[frawin]

Nov-08 Crude is trading at $98.225, up $1.85, Nov-08 Natural Gas is trading at $7.28, up $0.059.

[frawin]

The NYMEX trading in the Energy Sector is pretty thin, Nov-08 Crude is trading at $97.80, up $1.43, Nov-08 Natural Gas is trading at $7.34, up $0.119. there is very little activity in the back months. I think the Oil and Gas industry is taking a wait and see attitude in regard to where we go with the Bailout plan and what happens in the upcoming election. I think if Obama is elected and the Democrats maintain control of Both Houses of Congress that the Oil and Gas Industry  could very well reduce drilling and exploration.

[Tobina+1]

Saw on the news last night that Wichita has the cheapest gas in the nation... $3.17 last night.  Last time it was that cheap was mid-April.
Also, maybe the stock market drop will be a wake-up call to those congressmen/women to get their butts in gear.  I'm betting they have more money invested in the stock market than I do.

[frawin]

Nov-08 Crude settled at $100.64, up $4.27 on the day, Nov-08 Natural Gas settled at $7.438, up $0.217 on the day.

[frawin]

Nov-08 Crude is trading at $100.975, up $0.335, Nov-08 Natural Gas is trading at $7.50, up $0.062.

[frawin]

Note in this article, Europe is also having bank Failures, the high cost of energy is taking it's toll on all of the energy consuming nations. Our economic problems are directly tied to the high cost of energy.
Oil Falls Below $100 on Speculation Recession May Curb Demand

By Alexander Kwiatkowski

Oct. 1 (Bloomberg) -- Crude oil fell below $100 on speculation the U.S. economy will fall into recession, curbing fuel demand in the world's biggest gasoline consumer.

Crude fell on concern that credit-related bank failures in the U.S. and Europe will trigger a global recession. An Energy Department report later today will probably show U.S. crude inventories rose, the first increase in six weeks.

``With economic growth faltering in a number of countries, we have to assume that energy demand will be adversely impacted,'' said Edward Meir, analyst at MF Global Ltd. in Connecticut. ``Oil prices should be below last year's levels of $80 a barrel as the current picture looks far worse than it did at this time last year.''

Crude oil for November delivery dropped as much as $1.78, or 1.8 percent, to $98.86 on the New York Mercantile Exchange. It traded at $99.20 at 1:43 p.m. London time. It earlier gained as much as 2.2 percent to $102.84.

Futures fell 28 percent in the third quarter, the largest drop since 1991. Oil slumped $10.52, or 9.8 percent, to $96.37 a barrel, on Sept. 29, the most in percentage terms since Nov. 15, 2001, as the Standard & Poor's index of 500 stocks tumbled the most since the 1987 crash.

A week earlier, prices jumped a record 16 percent. Such swings have increased volatility to its highest since the first Gulf War in 1991.

Crude inventories are expected to rise 2.75 million barrels from 290.1 million barrels a week earlier, according to the median of 13 analyst estimates before an Energy Department report today.

Brent crude oil for November settlement fell as much as $1.84, or 1.8 percent, to $96.36 a barrel on London's ICE Futures Europe exchange. It was at $96.55 at 1:26 p.m. London time.



Last Updated: October 1, 2008 08:44 EDT


 
 

[frawin]

Nov-08 Crude is trading at $99.05, down $1.59 and Nov-08 Natural Gas is trading at $7.495, up $0.057. Crude and product inventories come out today. The market is expecting a build due to reduced demand.

[Diane Amberg]

We filled Al's Honda today at $3.27.9. ... not as good as Wichita, but pretty good for here.

[frawin]

Nov-08 Crude settled at $98.53, down $2.11 on the day, Nov-08 Natural Gas settled at $7.728, up $0.290 on the day.