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This Week in Petroleum 10-24-07 Google

Whoa! The analysts missed this one by a mile. Here were the predictions, prior to the release of the report:
Analysts surveyed by Dow Jones Newswires on average predict crude inventories rose 300,000 barrels during the week ended Oct. 19, and Vienna’s PVM Oil Associates also noted that “expectations for this week’s U.S. oil inventory data [...]

The Oil Industry Helps Bail Out AIG Google

OK, maybe that’s an exaggeration. But they did just chip in close a billion dollars to the government coffers that are propping up AIG:

US Central Gulf Lease Sale Bids Total $703 Million
HOUSTON -(Dow Jones)- U.S. Interior Secretary Ken Salazar said the Central Gulf of Mexico Oil and Gas Lease Sale 208, held Wednesday in New [...]

This Week in Petroleum 11-21-07 Google

2nd Update:
Well, we got that big surprise, primarily because crude imports were sharply down from last week. Some excerpts:
U.S. crude oil refinery inputs averaged 14.9 million barrels per day during the week ending November 16, down 151,000 barrels per day from the previous week’s average. Refineries operated at 87.0 percent of their operable capacity last [...]

CNG in Your Beer Google

Thanks to a reader for this story:
Cheap Natural Gas Drives Truck Alternatives
NEW YORK (Dow Jones) – If you order a beer in New York, the odds are growing that it was delivered by a truck running on natural gas.
Beer distributors are among a growing vanguard of private trucking fleets encouraged by cheap natural gas and [...]

This Week in Petroleum 9-19-07 Google

Some surprises in this week’s numbers:
The Energy Department’s Energy Information Administration reported that crude inventories fell by 3.8 million barrels during the week ended Sept. 14, more than double the 1.5 million-barrel decline analysts surveyed by Dow Jones Newswires, on average, had expected. However, crude inventories remain at the upper end of their average range [...]

Mega-Bear versus Super-Spike Google

Update: Never say never. Today, the prediction I made in 2005 that WTI would never again fall below $50 has fallen. Front month WTI as of this writing has dipped to $49.75. But it will never fall below $40.
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In 2005, with oil trading in the $40’s and $50’s, Goldman Sachs raised some eyebrows [...]

This Week in Petroleum 10-3-07 Google

I almost never talk about distillates, which are hydrocarbons that are heavier than gasoline and are used to make diesel and heating oil. I don’t use heating oil or diesel, so I don’t think about this market too much, but I know that a lot of people do. And for those who do, it’s shaping [...]