Crude Market Perspectives As WTI Passes $90

Oil prices trade near two-year highs...
Oil prices traded close to recent two-year highs on Thursday, as traders continued to absorb news that US crude reserves fell by more than double market expectations last week. Brent North Sea crude for delivery in February rose eight cents to 93.73 dollars per barrel after soaring on Wednesday to 93.94 dollars -- a level last seen in early October 2008. New York's main contract, light sweet crude for February, gained 10 cents to 90.58 dollars on Thursday, after touching a similar peak of 90.8...

Crude oil climbs above $90
NEW YORK, Dec. 21 (UPI) -- Crude Oil Prices climbed Tuesday, adding 68 cents to breach the $90 mark at $90.05 per barrel as equity markets closed higher. The Dollar held steady, the dollar index rising 0.05 percent. Heating Oil Prices on the New York Mercantile Exchange added 2.93 cents to $2.5188 per gallon, finding support from increased demand due to winter weather. Reformulated blendstock Gasoline added 3.43 cents to reach $2.4121 per gallon. Henry Hub Natural Gas prices shed 1.64 cents to ...

Gasoline, nationally, tops $3 per gallon
NEW YORK, Dec. 23 (UPI) -- The national average price of gasoline breached the $3 mark Thursday as oil prices in New York flirted with two-year highs. Crude oil prices have escalated on encouraging economic news, cold winter weather and recent draws in U.S. stockpiles. Drivers have also increased time spent on the road this year, giving momentum to oil, which is a bellwether for consumer prices. AAA said a gallon of unleaded gasoline across the country cost on average $3.013 Thursday, up from $2...

Gas prices top $3 a gallon
NEW YORK (CNNMoney.com) -- Gas Prices surpassed the milestone $3 mark Thursday for the first time since Oct. 17, 2008, as the national average compiled by motorist group AAA reached $3.013 a gallon. Gas prices have risen more than 4% from $2.872 a month ago and are nearly 16% higher than the $2.585 average a year ago, according to the AAA figures. Email Print Comment Prices have been climbing steadily since bottoming out at $1.616 in December 2008. However, the average price is down $1.101 -- ...

Oil rises above $90...
SINGAPORE (AP) -- Oil Prices rose above $90 a barrel Wednesday in Asia after a report showed U.S. crude supplies dropped more than expected for a second week, which suggests demand is improving. Benchmark oil for February delivery was up 19 cents to $90.01 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 45 cents to settle at $89.82 on Tuesday. The American Petroleum Institute said late Tuesday that crude inventories fell 5.8 ...

Energy and global warming news for December 21: Wind turbines on farmland may benefit crops; Religious right attacks environment
Wind Turbines On Farmland May Benefit Crops The giant turbine blades that generate Renewable Energy might also help corn and soybean crops stay cooler and dryer, help them fend off fungal infestations and improve their ability to extract growth-enhancing Carbon Dioxide [CO2] from the air and soil. Speaking at the annual meeting of the American Geophysical Union, a scientific society, in San Francisco, a researcher at the U.S. Department of Energy’s Ames Laboratory and his co-researcher f...

This Goldman Sachs Guru Sees 2011 as 'the Year of the USA'
Jim O'Neill shot to fame by predicting the staggering rise of emerging-market economies. Now the head of Goldman Sachs (GS) Asset Management, O'Neill recommended investors buy into so called BRIC economies of Brazil, Russia, India and China a decade ago. Few economic trends have been more consequential since, and O'Neill deserves plenty of credit for spotting it early on. Investors following his advice would have made handsome profits even as the developed world struggled. Indeed, O'Neill's re...

Stocks poised for flat open
NEW YORK (CNNMoney.com) -- U.S. stocks were poised for a muted open Wednesday morning ahead of several economic reports, as investors pack up for the holidays and prepare for 2011. Dow Jones industrial average (INDU), S&P 500 (SPX) and NASDAQ (COMP) futures were nearly unchanged ahead of the opening bell. Futures measure current index values against perceived future performance. Email Print Comment On Tuesday, U.S. stocks rose modestly but managed to close at their highest levels in more t...

TN Moving Stories: 100th Countdown Clock in NYC Subways, Indias Railways Prioritize Onions, and Spain Now Leads Europe in HSR
NYC’s subways have their 100th countdown clock — exceeding the MTA’s original goal to get 75 stations online by the end of the year. You can still buy tickets for American Airlines flights online-but not on Orbitz, because the airline wants to cut out that electronic middleman.  (USA Today) The U.S. Surface Transportation Board levied the first fine in its 14 year history—$250,000 against the Canadian National Railway Company for failure to report blockages at its ...

Oil prices rise as cold weather hits Europe, US
Crude Oil Prices advanced Monday, as bitterly cold weather in Europe and the United States boosted expectations of rising heating fuel demand over the Christmas holiday period. New York's main contract, light sweet crude for January delivery, gained 79 cents to 88.81 US dollars. Brent North Sea crude for delivery in February climbed 1.07 cents to 92.74 US dollars a barrel in London trade. "Crude Oil Prices rose slightly higher... as freezing conditions in Europe and the US northeast increased th...

Oil, gas prices rise in extended cold snap
Combined with heavy winter demand for heating fuel, light, sweet crude for February delivery prices on the New York Mercantile Exchange added 61 cents, 0.6 percent, to $90.43 per barrel. Heating Oil Prices gained 1.18 cents to $2.5409 per gallon. Reformulated Gasoline prices gained 2.04 cents to $2.402 per gallon. Henry Hub Natural Gas prices shed 5.9 cents to $4 per million British thermal units. At the pump, the national average price of unleaded Gasoline jumped to $2.997 per gallon Wednesday...

Ohio average gas price tops $3, 1st time since '08
The average price for Gasoline in Ohio has pushed past $3 a gallon for the first time in more than two years. A daily survey from AAA, the Oil Price Information Service and Wright Express on Wednesday put the statewide average price for regular-grade Gasoline at about $3.01 per gallon. That's up from $2.96 on Tuesday. AAA Ohio Auto Club spokeswoman Kimberly Schwind says the last time the average topped the $3 mark was on Oct. 11, 2008. At that time, prices were declining from an all-time high of...

Gasoline Futures up on Tighter Northeast Supplies
Source: ABC Gasoline futures gained on Tuesday, as a problem at a refinery in the Caribbean contributed to tight supplies in the heavily populated Northeast and promised to help keep pump prices up heading into the New Year. Gasoline rose 2.03 cents to $2.3981 a gallon in midday trading on the New York Mercantile Exchange. Crude Oil Prices climbed as well, adding 35 cents at $89.72 a barrel. The Hovensa refinery at St. Croix, Virgin Islands, has had trouble restarting a key unit used to process ...

Gasoline Futures up on Tighter Northeast Supplies
Gasoline futures gained on Tuesday, as a problem at a refinery in the Caribbean contributed to tight supplies in the heavily populated Northeast and promised to help keep pump prices up heading into the New Year. Gasoline rose 2.03 cents to $2.3981 a gallon in midday trading on the New York Mercantile Exchange. Crude Oil Prices climbed as well, adding 35 cents at $89.72 a barrel. The Hovensa refinery at St. Croix, Virgin Islands, has had trouble restarting a key unit used to process Crude Oil...

Stock index futures unchanged
Traders work on the floor of the New York Stock Exchange December 3, 2010. PARIS (Reuters) - Stock index futures pointed to a flat opening on Wall Street on Thursday, with futures for the S&P 500 down 0.04 percent, Dow Jones futures up 0.01 percent and NASDAQ 100 futures up 0.01 percent at 0917 GMT (4:17 a.m. ET). Energy shares will be in the spotlight as Oil Prices climbed to near a two-year high on Thursday, boosted by an unexpected surge in global demand that has fueled the biggest drop ...

Gold prices hold steady
Published: Dec. 21, 2010 at 4:41 PM NEW YORK, Dec. 21 (UPI) -- Gold prices held steady Tuesday in New York as investors moved toward equities, which gained on Wall Street. On the Comex division of the New York Mercantile Exchange, gold lost 70 cents to $1,385.40 per troy ounce. Crude Oil Prices for February delivery added 44 cents to $89.81 per barrel. The benchmark 10-year treasury note rose 9/32, causing yields to fall to 3.307 percent from Monday's 3.34 percent. The Dow Jones industrial avera...

Stock index futures unchanged
PARIS | Thu Dec 23, 2010 4:37am EST PARIS (Reuters) - Stock index futures pointed to a flat opening on Wall Street on Thursday, with futures for the S&P 500 down 0.04 percent, Dow Jones futures up 0.01 percent and NASDAQ 100 futures up 0.01 percent at 0917 GMT (4:17 a.m. ET). Energy shares will be in the spotlight as Oil Prices climbed to near a two-year high on Thursday, boosted by an unexpected surge in global demand that has fueled the biggest drop in U.S. Crude Oil stockpiles in more ...

J. Andrews, others to get special Grammys
A formal acknowledgment of the presentation of the prizes for career excellence will be made as well during the 53rd annual Grammy Awards telecast, which will be held at Staples Center in Los Angeles Feb. 13, the Academy said Wednesday. LOS ANGELES, Dec. 22 (UPI) -- Prince Frederic von Anhalt, the husband of Hungarian-born actress Zsa Zsa Gabor, was hospitalized in California after accidentally gluing his eye shut. 'Speak' is No. 1 on the U.S. album chart NEW YORK, Dec. 22 (UPI) -- Crude Oil ...

Oil hovers near 2-year high on cold snap, tighter stocks
By Randolph Fabi Singapore | Thu Dec 23, 2010 3:02am EST Singapore (Reuters) - Oil Prices climbed toward a two-year high on Thursday as cold weather in the United States boosted demand, slashed stockpiles and contributed to a stronger-than-expected rise in fuel consumption in 2010. U.S. crude for February rose 25 cents to $90.73 a barrel by 0714 GMT (2:14 a.m. ET), after settling at the highest level since October 2008 on Wednesday. ICE Brent Crude traded 14 cents higher at $93.79. Abnormally...

Soybeans, corn rise on Argentina weather concerns
NEW YORK — Grain prices rose Wednesday as investors worried that a drought in Argentina might damage soybeans and corn growing in that country. Argentina is the world’s second-largest exporter of corn and the third-largest exporter of soybeans. The country has had dry weather for the past seven weeks. If that keeps up, it could reduce the size of the country’s harvest. "The fear is the pattern is going to continue," said Tim Hannagan, senior grain analyst for brokerage PFG Bes...

US Gas Demand Should Fall for Good after '06 Peak
Monday, December 20, 2010 By Jonathan Fahey, Associated Press New York (AP) - The world's biggest gas-guzzling nation has limits after all. After seven decades of mostly uninterrupted growth, U.S. Gasoline demand is at the start of a long-term decline. By 2030, Americans will burn at least 20 percent less Gasoline than today, experts say, even as millions of more cars clog the roads. The country's thirst for Gasoline is shrinking as cars and trucks become more fuel-efficient, the government...

Oil settles closer to $90
Oil prices rose Tuesday, as traders remained optimistic about improving demand for energy products as millions of Americans travel for the holidays. Here's how energy contracts traded. Crude rose 45 cents to settle at $89.82 per barrel. Gasoline gained 2.07 cents to settle at $2.3985 a gallon. Heating oil added 2.69 cents to settle at $2.5164 a gallon. Natural Gas fell 17.8 cents to settle at $4.237 per 1,000 cubic feet. Brent Crude rose 46 cents to settle at $93.20 per barrel. Will Mrs. Obama d...

Oil rises above $90 amid US crude supply drop
SINGAPORE (AP) - Oil Prices rose above $90 a barrel Wednesday in Asia after a report showed U.S. crude supplies dropped more than expected for a second week, which suggests demand is improving. Benchmark oil for February delivery was up 20 cents to $90.02 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 45 cents to settle at $89.82 on Tuesday. The American Petroleum Institute said late Tuesday that crude inventories fell 5.8 million...

Raymond J. Learsy: As Oil Pierces $90/Barrel Time for the President Finally to Act
Since the beginning of the Obama presidency the price of oil has nearly tripled from slightly over $30 in February 2009 to over $90 on the New York Mercantile Exchange this day. To date the president has barely dealt with this malignancy threatening to destabilize the feeble Economic Recovery he has sponsored to date. Yet during the Presidential Campaign Candidate Obama presented himself as resolute on the issue of Oil Prices and their impact on the nations' well being. In August 2008 much to...

Commodity stocks rise on growth view, oil climbs
Has QE2 worked? Hong Kong (Reuters) - Resources-linked stocks rose and oil climbed toward the $91 per dollar mark for the first time in more than two years after latest U.S. data offered yet another sign that the world's biggest economy is on the mend. The Asia-ex Japan index for commodity shares as measured by MSCI .MIAPJMT00PUS also rose within sight of a recent 2- year peak as investors bet that a healing U.S. economy along with the relentless rise of China and India would continue to fuel d...