Actually AJ it looks like the USD is ready to try for another Up move .. and WTIC is Lagging it.
Maybe Oil is Up More on a Surprize Huge Build in Crude Inventory cuz someone spilled all that porridge for ... Oil Bulls to gorge on??
stockcharts.com
For the last 4 weeks a large number of Drilling Rigs have come out of service ... And Crude is Up in Price .. are we to assume these out of service Rigs found little or nothing?
Rig count falls by 15 for week
Baker Hughes tallies North American total at 1,883
By Carla Mozee, MarketWatch
Last Update: 1:36 PM ET March 4, 2005
N. A. rig count falls 8.5% for week
Baker Hughes tallies North American total at 1,723
By Carla Mozee, MarketWatch
Last Update: 2:02 PM ET March 11, 2005
North America weekly rig count off 4.3%
Tally reflects drop in Canadian drilling rigs
By Carla Mozee, MarketWatch
Last Update: 1:52 PM ET March 18, 2005
North American rigs fall for week
Baker Hughes tallies North American total at 1,647
By Carla Mozee, MarketWatch
Last Update: 3:28 PM ET March 24, 2005
Then that Offshore platform came back on line.
UPDATE 1-ChevronTexaco says hurricane-hit platform resumes
Tue Mar 15, 2005 07:28 AM ET
[Snip]
Marathon Oil (MRO.N: Quote, Profile, Research) owns the other half of the $500 million deepwater Petronius platform, which has the capacity to send out 60,00 bpd of oil and 100 million cubic feet of natural gas daily.
yahoo.reuters.com
Hmmm .. Will anyone be surprised this week if we have another Big Build in Crude? I wonder how the market will handle this one?
Ray
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