Thursday, 18 March 2010
Prices of Crude Oil: Crude Future
Prices of Crude Oil ticked higher over the next half decade leading up to the Iranian Revolution. The Shah Mohammed Reza Pahlavi was over thrown and essentially replaced by Ayatollah Khomeini at the end of 1979. The year following this executive changed, included the Iranian Hostage Crisis and concluded with the commencement of the Iran-Iraq war. Over that time, the crude market price increased by 2.5x that was seen at the beginning of the Iranian Revolution. Over all, the Oil Prices rose approximately 1,200% in the 8 years from 1973-1981. That is why we can conclude that in the history of the Crude Future this rally was the result of the two greatest intermediate term price rallies.
Crude Future: Markets & Prices
Having a look at reviewing record of Crude Oil Price, you do not have to waste your time looking to far back into history in order to find the greatest nominal price move in history. There was a change in the Prices of Crude Oil; The Prices of Crude Oil rally actually stemmed from the last time Crude Future traded under $10/barrel. For over the next nine years, the Price of Oil fluctuated over 1,400% before topping out at $145/barrel in 2008. During the 18 months from January 2007 to July of 2008, the most impressive stage or phase of this rally took place. “The Crude Oil Market hit an intraday high of $147.27 and a closing high of $145.29 on July 11 and July 3 respectively; these broke and currently hold record intraday and closing figures. The rally from approximately $50/barrel in Jan. 2007 to the closing highs in July equated to 190% rally. One of the fundamentals that influenced the timing of this rally was a 1.7 million barrel per day two phase production cut by OPEC. The cuts were in Nov. 2006 (1.2 mb/day cut) and Feb. 2007 (500 tb/day cut). In looking back at other noteworthy price runs, OPEC member nations seem to have a driving influence on the volatility.”
The Crude Oil Market rally that climaxed in 2008 was an amazing occurrence that will be talked about for some time to come, but the move is relative in comparison to other historic rallies on a percentage basis. These other pricing events went down within the 1970s and the first half of the 1980s. In fact, prior to 1973, the Price of Crude Oil pretty much was below $5/barrel except during a rally in the 1860s. In October of 1973, OPEC implemented and put an oil embargo on the U.S. and other European nations who helped Israeli with supply and military support during the Yom Kippur Arab-Israeli conflict. These supplies were important and necessary for Israel to hold off the Egyptian and Syrian offensives. In March of 1974, the embargo was repealed, but not until Prices of Oil had gone through the greatest percentage move to this date. In that 5 month period, Oil Prices quadrupled from $3/barrel to $12/barrel.
The Crude Oil Market rally that climaxed in 2008 was an amazing occurrence that will be talked about for some time to come, but the move is relative in comparison to other historic rallies on a percentage basis. These other pricing events went down within the 1970s and the first half of the 1980s. In fact, prior to 1973, the Price of Crude Oil pretty much was below $5/barrel except during a rally in the 1860s. In October of 1973, OPEC implemented and put an oil embargo on the U.S. and other European nations who helped Israeli with supply and military support during the Yom Kippur Arab-Israeli conflict. These supplies were important and necessary for Israel to hold off the Egyptian and Syrian offensives. In March of 1974, the embargo was repealed, but not until Prices of Oil had gone through the greatest percentage move to this date. In that 5 month period, Oil Prices quadrupled from $3/barrel to $12/barrel.
Thursday, 4 March 2010
Crude Oil Trades Near $81 After Rising on Economic Optimism
According to Bloomberg, "Crude Oil traded near $81 a barrel after rising yesterday as reports showed improvement in the U.S. job market and refineries operated at the highest level since October in the world’s biggest energy consumer."
Oil climbed to a seven-week high yesterday as service industries in the U.S. accelerated in February more than anticipated, indicating the economic expansion may soon create jobs following the worst employment slump in the post-World War II era. Inventories of crude oil climbed 4.03 million barrels and refinery utilization increased 0.7 percentage point in the U.S. last week, according to the Energy Department.
Crude Future for April delivery traded at $80.83 a barrel, down 4 cents, in electronic trading on the New York Mercantile Exchange at 8:42 a.m. Singapore time. Yesterday, the contract increased $1.19, or 1.5 percent, to $80.87, the highest settlement since Jan. 11.
Oil also advanced as the dollar weakened, increasing the investment appeal of commodities. The currency rose after Greece approved an additional 4.8 billion euros ($6.6 billion) of deficit cuts. The dollar traded at $1.3690 per euro at 11:18 a.m. Sydney time, from $1.3697 yesterday...
Don't forget to watch the Video...
Can Oil Break Its Trading Range?
Oil hovers around $80 despite rising inventories and Jonathan Barratt, managing director at Commodity Broking Services says investors may be...
Source: CNBC
Source: Bloomberg
Oil climbed to a seven-week high yesterday as service industries in the U.S. accelerated in February more than anticipated, indicating the economic expansion may soon create jobs following the worst employment slump in the post-World War II era. Inventories of crude oil climbed 4.03 million barrels and refinery utilization increased 0.7 percentage point in the U.S. last week, according to the Energy Department.
Crude Future for April delivery traded at $80.83 a barrel, down 4 cents, in electronic trading on the New York Mercantile Exchange at 8:42 a.m. Singapore time. Yesterday, the contract increased $1.19, or 1.5 percent, to $80.87, the highest settlement since Jan. 11.
Oil also advanced as the dollar weakened, increasing the investment appeal of commodities. The currency rose after Greece approved an additional 4.8 billion euros ($6.6 billion) of deficit cuts. The dollar traded at $1.3690 per euro at 11:18 a.m. Sydney time, from $1.3697 yesterday...
Don't forget to watch the Video...
Can Oil Break Its Trading Range?
Oil hovers around $80 despite rising inventories and Jonathan Barratt, managing director at Commodity Broking Services says investors may be...
Source: CNBC
Source: Bloomberg
Tuesday, 2 February 2010
Oil Tops $75 on Optimism About US Recovery
In recent, Oil Prices began to change rapidly; the Prices of Oil is fluctuating in Crude Future.
Crude Oil Last: 74.64 Go up: 0.22 %Change:+0.3%
Brent Crude Last: 73.29 Go up: 0.18 %change:+0.23%
Crude oil for March delivery climbed as much as $1.01, or 1.4 percent, to $75.44 a barrel in electronic trading on the New York Mercantile Exchange. It was at $74.70 at 1:50 p.m. Singapore time. Yesterday, the contract rose 2.1 percent to settle at $74.43, the biggest one-day increase since Jan. 4.
Brent crude oil for March settlement rose as much as $1.41, or 1.9 percent, to $74.52 a barrel on the London-based ICE Futures Europe exchange. It was at $73.36 at 1:51 p.m. Singapore time. Yesterday, the contract climbed 2.3 percent, the most since Jan. 4, to settle at $73.11.
Oil rose for a second day on Tuesday and accelerated gains after reaching $75 on optimism that the U.S. economy has turned the corner following strong manufacturing data for January.
U.S. crude for March delivery [CLC1 74.69 0.26 (+0.35%)] reached $75.44 a barrel, the highest
intraday price since Jan. 22, after prices touched $75, triggering automatic buy
orders.
It was trading up 53 cents at $74.95 at 0245 GMT, having rebounded by almost $3 from last week's 2010 lows.
London ICE Brent [LCOC1 73.35 0.24 (+0.33%)] gained 53 cents to $73.64.
"People are quite nervous around $75," said Tetsu Emori, a fund manager at Tokyo-based Astmax Co Ltd.
"There was short-covering after prices broke above that level. In the very short term, the market has been oversold, so some people see it as a good time to buy on dips below the $75-$80 range." ..."Demand for oil isn't really improving," Emori said. "We don't see any sign of real recovery. There is a huge amount of inventories in the physical markets."...
Read the entire article...
Watch the video for more information...
Crude Oil Last: 74.64 Go up: 0.22 %Change:+0.3%
Brent Crude Last: 73.29 Go up: 0.18 %change:+0.23%
Crude oil for March delivery climbed as much as $1.01, or 1.4 percent, to $75.44 a barrel in electronic trading on the New York Mercantile Exchange. It was at $74.70 at 1:50 p.m. Singapore time. Yesterday, the contract rose 2.1 percent to settle at $74.43, the biggest one-day increase since Jan. 4.
Brent crude oil for March settlement rose as much as $1.41, or 1.9 percent, to $74.52 a barrel on the London-based ICE Futures Europe exchange. It was at $73.36 at 1:51 p.m. Singapore time. Yesterday, the contract climbed 2.3 percent, the most since Jan. 4, to settle at $73.11.
Oil rose for a second day on Tuesday and accelerated gains after reaching $75 on optimism that the U.S. economy has turned the corner following strong manufacturing data for January.
U.S. crude for March delivery [CLC1 74.69 0.26 (+0.35%)] reached $75.44 a barrel, the highest
intraday price since Jan. 22, after prices touched $75, triggering automatic buy
orders.
It was trading up 53 cents at $74.95 at 0245 GMT, having rebounded by almost $3 from last week's 2010 lows.
London ICE Brent [LCOC1 73.35 0.24 (+0.33%)] gained 53 cents to $73.64.
"People are quite nervous around $75," said Tetsu Emori, a fund manager at Tokyo-based Astmax Co Ltd.
"There was short-covering after prices broke above that level. In the very short term, the market has been oversold, so some people see it as a good time to buy on dips below the $75-$80 range." ..."Demand for oil isn't really improving," Emori said. "We don't see any sign of real recovery. There is a huge amount of inventories in the physical markets."...
Read the entire article...
Watch the video for more information...
Tuesday, 26 January 2010
Oil Drops Toward $74 on Chinese Banks
Oil Prices tumbled towards $74 a barrel on Tuesday, approaching one-month lows, after higher reserve ratios for selected Chinese banks took effect, rekindling concern that tightening measures by the world's second-largest Oil consumer would restrain demand.
The Shanghai Composite Index fell more than 2 percent, after China's central bank told the banks that needed to raise their reserve ratios to make the change on Tuesday, banking sources said.
U.S. light, sweet crude [CLC1 74.46 -0.80 (-1.06%)] fell as much as $1.12 a barrel to $74.14 and was down on the day. On Friday, it touched a one-month intraday low of $74.01, retreating from a 15-month peak of $83.95 on Jan. 11.
ICE London Brent [LCOC1 72.96 -0.73 (-0.99%)] declined. Read more...
Or Learn more about Crude Future before trading...
The Shanghai Composite Index fell more than 2 percent, after China's central bank told the banks that needed to raise their reserve ratios to make the change on Tuesday, banking sources said.
U.S. light, sweet crude [CLC1 74.46 -0.80 (-1.06%)] fell as much as $1.12 a barrel to $74.14 and was down on the day. On Friday, it touched a one-month intraday low of $74.01, retreating from a 15-month peak of $83.95 on Jan. 11.
ICE London Brent [LCOC1 72.96 -0.73 (-0.99%)] declined. Read more...
Or Learn more about Crude Future before trading...
Thursday, 21 January 2010
Wednesday, 20 January 2010
BHP Boosts Oil, Gas Exploration Spending Forecast 33% on Wells
Top Stories
According to Bloomberg, because there is an increase in drilling in the U.S. Gulf of Mexico and offshore Australia, the biggest oil and gas producer in Australia declared its forecast for petroleum exploration spending by 33 percent.
"BHP said in October it was on target for 10 percent annual growth in petroleum output in the year ending June 30." However, going with the increase in the prices of Crude Future is the environment concerned. After the Crude Oil is pulled from the ground it needs to be transported by truck, pipeline or super tanker. Using tanker trucks is the least efficient and has a greater environmental effect of the three methods of transportation. That’s when everything is going accident free, but that’s not how it always works out. There have been a handful of pipeline explosions over the past several years that resulted in the release of harmful emissions from burnt fuel and 100s of thousands of carbon based fuel spilt. These occurrences are the result of standard pipeline erosion as well as human intervention. Tanker spills are one of the most publicly noted environmental risks associated with oil production. The infamous Exxon Valdez tanker crash resulted in 10.8 million gallons of oil that was dumped into the ocean. Cleaning up an oil spill of this size is both expensive and time consuming. Although rare in occurrence, oil tanker spills have a devastating impact on the environment. Certain aspects of the oil industry will come and go with political favor. These changing trends will have significant implications on the crude market.
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