Hey, thanks for taking the time to share that. Appreciated. You know, most of the people here may not know it but NoDoji was a trading protege. Don't believe all of this "I only started a few years ago" stuff. When she was just 3 years old she learned about candlesticks from her elderly Japanese neighbor. He's the one who gave her the name NoDoji. And between 3 and 5 she made the science of candlesticks relevant to Westerners. By the time she was 6 she was already composing intricate advanced trading algorithms which was the base from which much of today's high frequency trading sprang from. I wasn't supposed to bring this up, so please don't pester her with complicated algorithmic questions. After all, as her bio states, she's busy defending the galaxy.
By Seng Li Peng http://af.reuters.com/article/inves...09?pageNumber=2&virtualBrandChannel=0&sp=true SINGAPORE (Reuters) - U.S. oil climbed above $87.20 a barrel on Wednesday, led by strong performances in the global stock markets and a surprise draw down in crude inventories in the world's top oil consumer. 1/ China raised interest rates by 25 basis points late on Tuesday, its second increase in just over six weeks. The timing was unexpected, coming on the final day of the Lunar New Year holiday, but investors have long expected more monetary tightening as Beijing struggles to rein in price pressures. "The crude oil market is now held up by the bullish stock market, rather than geopolitical reasons," said Benson Wang of Commodity Broking Services in Sydney. "The Egyptian unrest had pushed the market up in the last 15 days, but I think people's reaction towards that is now calmer, and the effects on oil prices are reducing." "But going forward, upside on crude oil prices is limited. If I have to make a call, I think we have seen crude oil prices at their highest for this year." Egyptians staged one of their biggest protests yet on Tuesday demanding President Hosni Mubarak step down now, their wrath undiminished by the vice president's announcement of a plan to transfer power. While the government refuses to budge on the demonstrators' main demands, Vice President Omar Suleiman promised there would be no reprisals against the protesters for their three-week-old campaign to eject Mubarak, 82, after 30 years in office. Adding to the turmoil was a strike staged by about 3,000 workers in companies owned by the Canal authorities and based in Ismailia and Suez over pay and conditions. But the strikes will not affect Suez Canal operations and movement of ships, a senior official said. ID:nWEB7527] In Colombia, a 48,000 barrels-per-day capacity Transandino oil pipeline has been halted by two suspected rebel bomb attacks, but exports have not been affected, state-run Ecopetrol said on Tuesday. BULLISH DATA MAY NOT BE ENOUGH U.S. crude stocks unexpectedly fell 558,000 barrels last week on sharply lower imports, the American Petroleum Institute (API) said on Tuesday. This contrasted expectations from analysts polled by Reuters who had expected a 2.4 million-barrel rise in crude stocks. Crude imports fell 1.1 million barrels a day (bpd) to 8.65 million bpd, while crude stocks at Cushing, Oklahoma, the delivery point for U.S. oil futures, fell by 927,000 barrels, API said. The U.S. Energy Information Administration (EIA) said more supply will be needed as the world will consume about 140,000 bpd more in oil than it had forecast last month, with demand now expected to average a record 88.16 million barrels per day this year. But it added that Saudi Arabia was pumping more crude than previously thought, about 100,000 barrels per day extra during both November and December.
UPDATE 4-Brent crude back over $100, record premium to US oil Wed Feb 9, 2011 12:43pm GMT_Print | Single Page [-] Text [+] * Brent's premium to U.S. crude record high above $13 * Egypt's turmoil persists, but Suez Canal stays open * EIA data may show rise in crude stocks vs drop in API (Update prices) By Ikuko Kurahone LONDON, Feb 9 (Reuters) - Brent crude oil rose back over $100 on Wednesday, after data a day earlier showed a drop in U.S. stockpiles and supported by the unrest in Egypt. Analysts said the rise was likely to be capped by China's rate hike on Tuesday and ahead of the release of U.S. government weekly oil data Wednesday, which may record high crude stockpiles at the delivery point for U.S. crude. Brent LCOc1 traded 65 cents higher at $100.57, after closing at $99.92 on Tuesday. U.S. crude futures CLc1 rose 40 cents to $87.34 by 1210 GMT. Brent crude traded at a record high premium of $13.39 a barrel to U.S. crude. CL-LCO1=R "Brent is still reflecting the market concern about Egypt and the Suez Canal," said Tony Nunan, assistant general manager with Mitsubishi Corp in Tokyo. "Oil supply to Europe via the canal would have more impact than to the U.S." The canal was operating normally on Tuesday despite strike action by 3,000 workers in companies owned by the Suez Canal authorities in Ismailia and Suez over pay and conditions. [ID:nLDE7171EG] [ID:nWEB7527] CUSHING INVENTORIES EYED Olivier Jakob with Petromatrix said weekly data from the industry group American Petroleum Institute (API), which showed a surprise decline in U.S. crude inventories on Tuesday, was pushing oil prices higher. Analysts with Mizuho Corporate Bank said a rise in oil prices was likely to be limited by the long-term impact on oil demand from China's two rate hikes in a month. "Caution about a slowdown in demand in China due to the rate hikes is strong. It is difficult to see development, where the oil market would keep on targeting higher prices aggressively," the bank said in its daily note. The U.S. government's Energy Information Administration (EIA) data due out at 1530 GMT will be closely watched. Analysts in a Reuters poll forecast the opposite to the API data. A Reuters market poll predicted the EIA will report a 2.4 million barrel rise in U.S. crude stocks in the week to Feb. 4. Crude stocks at the delivery point at Cushing, Oklahoma, may surge to a record high. [EIA/S] (Reporting by Seng Li Ping in Singapore and Ikuko Kurahone in London; editing by William Hardy)
Brent $13+ premium to us crude is one factor that bay limit the big down side move on Nymex us crude This is huge premium , this increased seems with suez strike as Mkt view suez strike is have more impact on brunt than Nymex oil
http://af.reuters.com/article/energyOilNews/idAFLDE7180YF20110209 LONDON/ATHENS, Feb 9 (Reuters) - Armed pirates seized a U.S.-bound oil tanker off Oman carrying around $200 million worth of crude on Wednesday in one of the biggest raids in the area to date, escalating the threat to vital shipping lanes. The 333-metre very large crude carrier, the Irene SL, was carrying about 2 million barrels of crude oil, estimated to be nearly 20 percent of daily U.S. crude imports, a day after an Italian tanker was snatched by Somali pirates. "This morning the vessel was attacked by armed men," the tanker's Greece-based manager Enesel said in a statement. "For the moment there is no communication with the vessel."