OIL $70, gas shortage coming

Discussion in 'Commodity Futures' started by capmac, Aug 30, 2005.

  1. capmac


    Crude Oil surges to highs of day, currently trading $69.60 +2.40... Stocks plunge to session lows: Dow -65, Nasdaq -10.2

    >> Lots of damage to the oil rigs, fill up your gas tanks now <<
  2. capmac


    11:07 Seven rigs adrift in the Gulf of Mexico - DJ

    Dow Jones reports that 7 rigs are currently adrift in the U.S. Gulf of Mexico, according to the U.S. Coast Guard. "It appears there are seven semisubmersibles adrift," said Lt. Rob Wyman, a spokesman for the Coast Guard's New Orleans district office. "Yesterday we had a total of two."
  3. JayS


    Spot Unleaded + 30 cents.
  4. capmac


    Retail gasoline set to rise to $3 a gallon or more: analysts By Myra P. Saefong

    SAN FRANCISCO (MarketWatch) -- Gasoline prices at the retail level will likely jump past $3 a gallon, analysts said Tuesday. "Most places will be north of $3 a gallon," said Tom Kloza, chief oil analyst at the Oil Price Information Service. There's a "huge crisis in gasoline -- our worst fears are recognized," said John Person, president of National Futures Advisory Service. Retail prices "could reach $3 and as high as $3.20 within a week and a half," he said
  5. Choad


    No biggie, I payed $2.95 for reg this morning.

    Caleeforneeuh is always high...
  6. Now ...
    .. the REAL interesting thing is how the re-insurers will be dealing with this.

    Terrorism, wars, destruction - it takes a hefty toll on reinsurer's no-longer-so-deep pockets. Luckily, it all comes back in form of more expensive services, products for consumers - as well as nice tax-hikes on income, services. What goes around, comes around.

    Last year the talk was about how reinsurers could not take a bad hurricane season - but the alarm-sirens are silent for now. But that's my first concern - and with ever rising consumer debt-levels it's a sneaky long-lasting effect.
  7. My brother says gas at our local Chevron went up 10 cents but they currently don't have any (all the other stations do). This is Phoenix and may be related to the pipeline problem we had last year. Either way, it's not good news.
  8. Unleaded gas now trading at $2.43 on NYMEX. up 37 cents today. All I know is unleaded regular in the Chicagoland area was selling for $2.80 a gallon with unleaded gas at $1.95. So looks like we are at $3.30 pretty soon.
  9. was that the settlement price for Sept 05 today ?

    I assume it goes off the board anyday now ...

    what was OCT 05 unleaded settlement ?

    -Unleaded gas now trading at $2.43 on NYMEX. up 37 cents today-
  10. Good question setharb. It was just a very cursory glance at futuresource.

    Oct 05 settlement - 2.180 (+.2127)
    #10     Aug 30, 2005