Oil Price thread

[justus jessen]

Originally Posted by include

Yeah I heard about those guys being kidnapped. That sucks

thems only got kidnapped cuz they went passed the border. their own fault really

[ATom]

Originally Posted by justus jessen

thems only got kidnapped cuz they went passed the border. their own fault really

Yeah, if you believe the Iranian propoganda machine

[justus jessen]

tehy admitted to crossing the border in a news release. i think its bs how they released them as an easter gift, lmao

[ATom]

Originally Posted by justus jessen

tehy admitted to crossing the border in a news release. i think its bs how they released them as an easter gift, lmao

Think you'd say that too if you had a gun pointed at your head

Global oil prices have risen on the back of violence and political turmoil in Nigeria, the world's eighth largest crude exporter.

With militant attacks shutting down a fifth of Nigeria's oil production, London's Brent crude ended Monday up $1.66 to $68.15 a barrel.

http://news.bbc.co.uk/1/hi/business/6584339.stm

Oil prices fell in morning trading in the U.S. on Tuesday, after briefly touching $66 earlier in the day. Light sweet crude for June delivery was down 75 cents at $65.14 per barrel.

http://www.chron.com/disp/story.mpl/...s/4742837.html

[Kiwikid]

Prices are going to stay at these levels, or higher due to threat of war with Iran over it's nuclear program. Somehow I don't see Iran backing off and nor do I see the west. The collision is innevitable. Otherwise prices would fall back quite naturally.

I see this as good thing however as it encourages the West to develop new energy technologies.

Sadly a huge war is coming and we really need to get on with developing energy independence ASAP.

[Andrea]

Reading this morning about how the sham elections in Nigeria are pushing prices up as well. Are there no oil rich countries that are run normally?

[screener]

I was going to jump in here and say Canada!!!! but then I thought for a short while about the last hundred or so years of Liberals, Conservatives, liberals, conservatives, lieberals, conmen, libs, cons, con/libs, well anyway you get the point. Over here we hear that oil prices are going up because of a shortage of refinery capacity.

This only recently after the major oil companies shut down refineries that didn't fit into the corporate restructuring plans.

Also one of the major causes that we hear about is the increasing demand from radical environmentalists for clean air, water, and soil. Way to costly, maybe cheaper to operate in a healthier environment like the louisiana texas coastline.

"Brent North Sea crude for July delivery rose 42 cents to 69.84 dollars in electronic trading...On Monday, New York's main oil futures contract, light sweet crude for delivery in June, gained 21 cents to 65.15 dollars a barrel in electronic deals before the official open of the US market...Crude futures were a little firmer today, supported by further attacks and kidnappings in Nigeria," Sucden analyst Michael Davies said in London...[And,] US government data showed gasoline inventories are more than 7.0 percent below their five-year average for mid-May." We hear the Nigerian rebels have gotten hand-helds so they can download Brent North Sea crude oil futures in real-time, allowing for strategy re-adjustments in the field (joke). The $70 ceiling bump should nicely help demand soak up Toyota's recent Prius production capacity expansion. The payback period for the incremental investment will shrink shrink shrink as the gasoline price expands expands expands...'just so we can get to the shore and back on a tankful'.

http://news.yahoo.com/s/afp/20070521...e_070521150322