Archive | December, 2009

Summary of Weekly Petroleum Data

Production: U.S. crude oil refinery inputs avgd 13.9 mln bpd during the week ending Dec. 25, 102,000 bpd above the previous week’s avg. Refineries operated at 80.3 percent of their operable capacity last week. Gasoline production increased last week, averaging 9.0 mln bpd. Distillate fuel production decreased last week, averaging 3.7 mln bpd. Imports: U.S. […] [...more]

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Crude Continues to Rise on Drop in Stockpiles

2009-12-31: Crude Continues to Rise on Drop in Stockpiles Light, sweet crude for February delivery settled up 41 cents, or 0.5%, at $79.28 a barrel on the New York Mercantile Exchange, the highest settlement since Nov. 19. Oil rose for a 7th day as U.S. Oil and fuel stockpiles fell to their lowest point since […] [...more]

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API Reports Rise In Crude Oil Inventories

The American Petroleum Institute reported a surprise build in weekly crude oil inventories on Tuesday after the close of floor trading. Gasoline supplies, on the other hand, unexpectedly fell. The API reported crude inventories rose about 1.73 million barrels in the week ended December 25. Experts predicted a drop of 2.2 million barrels… Read More […] [...more]

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Crude Oil Trades Near $79 a Barrel

2009-12-30: Crude Oil Trades Near $79 a Barrel Crude Oil prices climbed 10 cents to $78.87 a barrel after rising for a 5th day on forecasts for cold weather in the U.S. and signs the economy in the world’s largest energy consuming nation may be recovering. Also helping Oil, data showed U.S. consumers became more […] [...more]

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Oil Trades Near Five-Week High on Iran Tensions, Cold Weather

Crude oil traded near a five-week high as unrest in Iran raised concerns about the security of Middle East supplies and plunging temperatures in the Northern Hemisphere boosted fuel demand. Oil traded little changed as Iran continued a crackdown on opposition protests after at least eight people were killed in clashes with security forces. Iran […] [...more]

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Oil Prices Up Ahead of New Year

2009-12-29: Oil Prices Up Ahead of New Year Crude oil prices rose to a near 5-week high on Monday, trading at $78.73 at the close of the market amid optimism of the global economic recovery. Prices have since dropped to around $78.45, but could easily gain traction again after the release of the U.S. Consumer […] [...more]

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Could Crude Oil Reach $80 a Barrel?

2009-12-28: Could Crude Oil Reach $80 a Barrel?Crude Oil continued to rise during last week’s trading session. Crude Oil began last week’s trading with a falling trend, as a barrel of crude oil was traded for less than $73. However later on the trend reversed and crude oil reached over $78 a barrel for the […] [...more]

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Growing chorus says oil has peaked

Jim Baldauf, a former oilman, remembers the days when it seemed like you could punch a hole in the ground just about anywhere in Texas and hit a gusher. Now explorers in the southern US state of Texas find themselves drilling down further, and then turning horizontally for a while, and then back down again […] [...more]

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Oil Prices Spike Following U.S. Report

2009-12-24: Oil Prices Spike Following U.S. ReportCrude Oil prices shot up over $2 a barrel yesterday following a report stating that U.S. supplies have fallen significantly lower than anticipated. America is the world’s largest energy consuming nation. When supplies are down there, prices typically rise in order to compensate for an increase in demand. Prices […] [...more]

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Summary of Weekly Petroleum Data

Summary of weekly petroleum data for the week ended Dec. 18: Production: U.S. crude oil refinery inputs averaged 13.8 million barrels per day during the week ending Dec. 18 — 27,000 bpd below the previous week’s average. Refineries operated at 80.0 % of their operable capacity last week. Gasoline production decreased last week, averaging 9.0 […] [...more]

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