CL Redux
- Thread starter schizo
- Start date
out .85
Good Morning
You'd think the crude inventories would be way up. At least I would. Don't see any estimates. We'll find out in a few.
ADD As I recall the increase last week was the biggest bump up in quite a while. So we'll see.
ADD 2 http://www.eia.gov/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/wpsr.html
If you click on an individual report there's a java run countdown in seconds. Pretty cool.
You'd think the crude inventories would be way up. At least I would. Don't see any estimates. We'll find out in a few.
ADD As I recall the increase last week was the biggest bump up in quite a while. So we'll see.
ADD 2 http://www.eia.gov/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/wpsr.html
If you click on an individual report there's a java run countdown in seconds. Pretty cool.
Here's an overview. http://ir.eia.gov/wpsr/overview.pdf
Crude up 1.7.
ADD Interesting that inventories are up and CL still jumped up a bit.
ADD 2 Am I misreading that? I thought that was the increase. Isn't that what it says?
Crude up 1.7.
ADD Interesting that inventories are up and CL still jumped up a bit.
ADD 2 Am I misreading that? I thought that was the increase. Isn't that what it says?
Futures Movers
March 16, 2011, 10:46 a.m. EDT
Crude futures rebound after sharp selloff
Traders watch Japan situation, Bahrain turmoil
By Claudia Assis and Polya Lesova, MarketWatch
SAN FRANCISCO (MarketWatch) â Crude-oil futures gained Wednesday, rebounding after their biggest one-day drop since October as traders monitored the situation at a damaged Japanese nuclear plant and political turmoil in Bahrain.
Crude for April delivery (NEW:CLJ11) rose $1.79, or 1.8%, to $98.92 a barrel on the New York Mercantile Exchange.
âItâs a reassessment of whatâs happening in Japan,â said Christophe Barret, global oil analyst at Calyon. âThen you have the Middle East, with Saudi Arabia sending troops to Bahrain. It appears to be a dangerous move.â
Crude futures slumped 4% Tuesday in New York after new blasts and fire in Japanâs Fukushima Daiichi power plant prompted Prime Minister Naoto Kan to warn of a âsubstantialâ radiation leak.
The situation at the plant remained fast-changing and precarious Wednesday, with authorities announcing that a second reactor may have ruptured and appeared to leak a cloud of radiation.
The radiation levels around the plant prompted the Japanese government to cancel Wednesday a plan to dump water from helicopters in an attempt to cool off the plantâs overheating fuel rods.
Natural-gas prices continued to rally on expectations that demand for the fuel would rise as Japan imports natural gas, coal, and other sources of fuel to make up for losses in its nuclear energy grip.
The April contract (NEW:NGJ11) added 6 cents to $4 per million British thermal units.
Wednesdayâs advance in oil prices came as Japanâs Nikkei Stock Average (NIHON:JP:NI225) climbed almost 6%, after plunging more than 16% in the previous two sessions. Read more about the Tokyo market.
Meanwhile, security forces in Bahrain cracked down on antigovernment protesters early Wednesday, and at least two protesters were killed in the capital Manama, according to witnesses, The Wall Street Journal reported.
Bahrain is under curfew, and on Monday troops from Saudi Arabia and police from the United Arab Emirates heightened fears of sectarian conflict in the island nation.
Meanwhile, gasoline for April delivery (NEW:RBJ11) rose 7 cents, or 2.4%, to $2.87 a gallon. April heating oil (NEW:HOJ11) added 8 cents, or 2.5%, to $3.03 a gallon.
Closer to home, investors grappled with news the Commerce Department reported construction of new homes plunged 22.5% in February, erasing Januaryâs gains and marking the largest single-month drop in housing starts since March 1984.
Metals traders also took in data indicating higher producer prices, up a seasonally adjusted 1.6% for February as food costs experienced their biggest one-month rise since 1974
March 16, 2011, 10:46 a.m. EDT
Crude futures rebound after sharp selloff
Traders watch Japan situation, Bahrain turmoil
By Claudia Assis and Polya Lesova, MarketWatch
SAN FRANCISCO (MarketWatch) â Crude-oil futures gained Wednesday, rebounding after their biggest one-day drop since October as traders monitored the situation at a damaged Japanese nuclear plant and political turmoil in Bahrain.
Crude for April delivery (NEW:CLJ11) rose $1.79, or 1.8%, to $98.92 a barrel on the New York Mercantile Exchange.
âItâs a reassessment of whatâs happening in Japan,â said Christophe Barret, global oil analyst at Calyon. âThen you have the Middle East, with Saudi Arabia sending troops to Bahrain. It appears to be a dangerous move.â
Crude futures slumped 4% Tuesday in New York after new blasts and fire in Japanâs Fukushima Daiichi power plant prompted Prime Minister Naoto Kan to warn of a âsubstantialâ radiation leak.
The situation at the plant remained fast-changing and precarious Wednesday, with authorities announcing that a second reactor may have ruptured and appeared to leak a cloud of radiation.
The radiation levels around the plant prompted the Japanese government to cancel Wednesday a plan to dump water from helicopters in an attempt to cool off the plantâs overheating fuel rods.
Natural-gas prices continued to rally on expectations that demand for the fuel would rise as Japan imports natural gas, coal, and other sources of fuel to make up for losses in its nuclear energy grip.
The April contract (NEW:NGJ11) added 6 cents to $4 per million British thermal units.
Wednesdayâs advance in oil prices came as Japanâs Nikkei Stock Average (NIHON:JP:NI225) climbed almost 6%, after plunging more than 16% in the previous two sessions. Read more about the Tokyo market.
Meanwhile, security forces in Bahrain cracked down on antigovernment protesters early Wednesday, and at least two protesters were killed in the capital Manama, according to witnesses, The Wall Street Journal reported.
Bahrain is under curfew, and on Monday troops from Saudi Arabia and police from the United Arab Emirates heightened fears of sectarian conflict in the island nation.
Meanwhile, gasoline for April delivery (NEW:RBJ11) rose 7 cents, or 2.4%, to $2.87 a gallon. April heating oil (NEW:HOJ11) added 8 cents, or 2.5%, to $3.03 a gallon.
Closer to home, investors grappled with news the Commerce Department reported construction of new homes plunged 22.5% in February, erasing Januaryâs gains and marking the largest single-month drop in housing starts since March 1984.
Metals traders also took in data indicating higher producer prices, up a seasonally adjusted 1.6% for February as food costs experienced their biggest one-month rise since 1974
Quote from riskaddict:
limit orders to sell 1 qm at 99.30 and 2 at 99.75. Stop 1 a 100.175 reshort 1 at 100.58. I'll check back in a couple hours
Cover my 1 crumby QM at 98.00