Oil...

Discussion in 'Energy Futures' started by WAWTU31, Dec 21, 2005.

  1. WAWTU31

    WAWTU31

    CRUDE-OIL INVENTORIES CLIMB, SURPRISING ANALYSTS

    10:36am 12/21/05
    Crude up 1.3M barrels, distillates down 2.8M in latest week By Ciara Linnane
    NEW YORK (MarketWatch) -- Crude-oil inventories climbed by 1.3 million barrels in the week ended Dec. 16, placing them well above their average range for this time of year, the Department of Energy said Wednesday. Supplies of motor gasoline fell 300,000 barrels, while distillate supplies, which include heating oil, fell by 2.8 million barrels, placing them in the lower half of their average range for this time of year. Analysts were expecting crude supplies to fall by 1 to 3 million barrels, and were forecasting a more modest drop in distillate supplies. Crude for February delivery was last trading up 46 cents at $58.55 a barrel, about 20 cents higher than their level before the data were announced.
     
  2. Chagi

    Chagi

    It's interesting that high oil prices were constantly grabbing headlines, yet we hear very little when oil prices drop.
     
  3. WAWTU31

    WAWTU31

    It is unsual warm right now and going into Christmas, even in Pennsyvania, it will be in the 40's.
     
  4. my models still see oil staying below 75 - out for the next year at least - and this has not changed since the summer. The only thing that would change this prediction would be a major international crisis of some sort .... my models show that it would be very difficult to push beyond 75 for even a short time (primarily due to the conservation effect).