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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (54352)	10/17/2004 10:32:45 PM
From: energyplay	Respond to of 74559

How about charging for admission then having a sign saying "This way to the Egress" Or a big vacumn cleaner to suck up all the dirty money... Next week will be interesting for SJT and oil sands.

To: TobagoJack who wrote (54352)	10/18/2004 2:55:32 AM
From: elmatador	Respond to of 74559

Oil Prices 'Heading for 60 Dollars A Barrel' "PA" Crude oil prices surged past an unprecedented 55 dollars per barrel today as uncertainty swirls over production, high demand and tight global supplies. <<ELMAT's COMMENTS: In about 10 days Nigerians will strike again, only that this time with undefined end. It could be that will last a couple of weeks. My take is that someone wants to buy those refineries from NNPC (the stateowned corporation) retrofit them and loot after that. Strikes are the catalisator.>> Analysts are NOW looking toward 60 dollars a barrel, with some saying it may reach that mark by the end of the year – smack in the middle of the northern hemisphere winter. “We hit the new milestone and we’re looking at 60 dollars,” said Victor Shum, oil analyst at Texas-headquartered energy consultants Purvin & Gertz. 60 dollars is certainly feasible.” Crude for November delivery on the New York Mercantile Exchange hit 55.33 dollars per barrel around noon in Asia, up 40 cents from its Friday settlement price. The prices are the highest in a generation and while oil is more than 70% higher than a year ago, they are still around 25 dollars below the peak inflation-adjusted price reached in 1981. Crude prices have skyrocketed more than 10 dollars in the past month, primarily over production delays in the Gulf of Mexico, where Hurricane Ivan hit mid-September. In the Gulf of Mexico, over 20 million barrels of crude remain shut in as recovery efforts continue to get production levels back to normal, the US federal Minerals Management Service said on its Web site. But with the amount of excess capacity – immediate surplus supply – at about 1% of daily demand, now estimated to be above 82 million barrels, any supply outage is expected to factor into prices. Market players have been fixated on potential disruptions in production, such as the just-concluded oil workers’ strike and threats of rebel attacks in Nigeria, Africa’s largest producer, and sporadic attacks by militants on Iraqi pipelines. Unrest in the world’s largest producer, Saudi Arabia, the tax battle between the Russian government and oil giant Yukos and political tensions in key producer Venezuela have also weighed in recently.