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| Subject: Re: Crude prices drop for oil drop | |
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Author: Oropan |
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Date Posted: 05:05:11 04/10/07 Tue In reply to: Bev 's message, "Crude prices drop for oil drop" on 14:19:50 04/09/07 Mon It's not the crude price that's the problem. The chickens are coming home to roust because we have not built any refineries and when there is a fire or other problem at a couple of them we get price spikes like we now have. What will the Dems in Congress do abour this problem.....Absolutely NOTHING! >will the US oil cartel mainly ran by rep follow suit >or will then continue to goudge . I did not take time >to edit out all the ads etc so you will have to wade >thru them to get to the article. I am busy making >cooking our remaining dog home made dog food. Lost our >older corgi last week . > > >href="http://money.cnn.com/2007/04/09/markets/oil.reut/ >index.htm?cnn=yes">http://money.cnn.com/2007/04/09/mark >ets/oil.reut/index.htm?cnn=yes > >Oil tumbles as tensions unwind >Crude prices drop nearly $3, extending declines after >Iran released British sailors last week. >April 9 2007: 3:05 PM EDT > > >NEW YORK (Reuters) -- Oil prices tumbled about 4 >percent Monday as last week's selloff that followed >Iran's release of 15 British sailors accelerated. > >Light, sweet crude for May delivery sank $2.69 to >$61.59 a barrel on the New York Mercantile Exchange. > >Video More video > > >A Louisiana man takes a gamble and strikes oil in his >front yard. CNN's Susan Roesgen reports (March 29) >Play video > > > >The two-week detention of the British sailors had >driven U.S. crude back briefly above $68 a barrel, the >highest price since September. > >And Iraq's big oil contracts go to ... >But last Thursday's release of the British sailors and >marines eased fears of growing tensions between the >West and Iran, the world's No. 4 oil producer, sending >prices lower. > >Selling then accelerated Monday after a long holiday >weekend. > >However, concerns about Iran's uranium enrichment >program and the war in Iraq helped keep a floor under >prices, which despite the recent slide remain well >above the 2007 low of $49.90 a barrel hit in January. > >"'Iranium' remains a hot issue and, as importantly, >the lack of an Iraqi solution will continue to haunt >the Middle East for months to come," said Olivier >Jakob, from oil industry consultancy Petromatrix. > >Uranium enrichment >Iran President Mahmoud Ahmedinejad announced on Monday >his country has begun the first stage of what it calls >"industrial scale" uranium enrichment, which the West >fears could be used to make nuclear weapons. > >Tehran has rejected United Nations demands to halt >enrichment, instead pressing ahead with a nuclear >program it calls peaceful. > >Solid demand and limited supply have limited the fall >in oil prices from six-month highs reached during >Iran's detention of the British military personnel. > >"There are fears of a tight U.S. gasoline market over >the summer," said Christopher Bellew, senior vice >president at Bache Commodities. > >U.S. gasoline stocks fell 5 million barrels in the >week to March 30, when analysts had expected a drop of >just 300,000 barrels. U.S. gasoline demand usually >peaks over the summer. > >Members of the Organization of the Petroleum Exporting >Countries (OPEC) insist the global oil market is well >supplied and high prices reflect tensions over Iran >rather than any shortage. > >Iran's Oil Minister Kazem Vaziri-Hamaneh said 1.7 >million barrels a day in oil supply cuts that OPEC >agreed last year had balanced the market. > >"After the OPEC decisions to cut, which have been >fairly well implemented, we see stability in the >market," he said on the sidelines of a gas meeting in >Qatar, attended by seven of OPEC 12 members. > >With the exception of ConocoPhillips (up $0.54 to >$68.50, Charts), stocks of most major oil companies, >including BP (down $0.41 to $64.84, Charts), Chevron >(down $0.16 to $75.45, Charts), Royal Dutch Shell >(down $0.58 to $66.46, Charts) and Exxon Mobil (down >$0.40 to $76.82, Charts), have risen since the >heightened tensions with Iran started on March 23. > > >------------------------------------------------------- >------------------------- > >TXU drops threat to close power plants > >Making money on clean coal > >SAVE | EMAIL | PRINT | | REPRINT >More Markets >Stocks can't find direction > >Oil tumbles nearly $3 > >Railroads jump on Berkshire buys > > >The Hot List >Homes from the richest zip codes >Tax friendly places 2007 >Starting early for early retirement > Top Stories >Subprime blame game > >Paying for college with your 401(k) > >Stocks can't find direction > >Oil tumbles nearly $3 > >Passing the buck on fuel economy > > > >online currency trading >Trade currency futures online-24hrs. Free charts, low >commissions. >www.xpresstrade.com > >Riversource Investments >Research, strategies & investment solutions for >financial advisors. >www.RiverSource.com > >Invest in the Future of Energy >Is the world running out of oil? What's behind the >recent surge in oil... >www.gafunds.com > >Federal Way Realty School >Succeed as a Realtor or Contractor. Expert Training >&... >washingtonsqrrealestateschool.com > > >Special Offer: >Outside the U.S. and >Canada, click here. > > > State/PrAAABAEAKALAPARASAZBCCACOCTDCDEFLGAGUHIIAIDILIN >KSKYLAMAMBMDMEMIMNMOMSMTNBNCNDNENHNJNLNMNSNTNUNVNYOHOKO >NORPAPEPRQCRISCSDSKTNTXUTVAVIVTWAWIWVWYYT > > Privacy Policy > > > > >• Home • Portfolio • Calculators • Contact us • >Newsletters • Podcasts • RSS • Mobile • Press Center • >Site Map >• Advertise with Us • Magazine Customer Service • >Datastore • Reprints >• Career Opportunities • Special Sections • >Conferences • Business Leader Council >Copyright 2007 Reuters All rights reserved. This >material may not be published, broadcast, rewritten, >or redistributed. >* : Time reflects local markets trading time. † - >Intraday data delayed 15 minutes for Nasdaq, and 20 >minutes for other exchanges. • Disclaimer >© 2007 Cable News Network LP, LLLP. A Time Warner >Company ALL RIGHTS RESERVED. >• TERMS UNDER WHICH THIS SERVICE IS PROVIDED TO YOU. • >PRIVACY POLICY [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| The oil companies have plenty of profits to build new refineries | Bev | 10:00:09 04/10/07 Tue |
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