Confrontation in the Persian Gulf .

Crude oil traded at $64.12 a barrel at 6:24 p.m. in New York Mercantile Exchange electronic trading, up $1.19 from the day's settlement price of $62.93. The settlement price is set after the close of floor trading at 2:30 p.m. New York time. Transactions after 6 p.m. are considered part of the next-day's trading.
Brent crude oil for May settlement rose 19 cents, or 0.3 percent, to close at $64.60 a barrel on the London-based ICE Futures exchange, the highest close since Dec. 1.

Oil and Gasoline

Crude oil fell to a seven-week low in New York, and gasoline surged, as refineries kept some units closed for repairs before motor-fuel demand picks up.
Refinery maintenance typically occurs in March, as the heating season wanes. An Energy Department report this week will probably show that crude-oil supplies rose last week and gasoline stocks fell.
Crude oil for April delivery fell 52 cents, or 0.9 percent, to settle at $56.59 a barrel at 2:52 p.m. on the New York Mercantile Exchange. It was the lowest close since Jan. 29. Prices are down 9.8 percent from a year ago.

EXCEPT IN PORTUGAL DUE TO GALP ENERGIA THE PRICE IS UP COMPARED TO LAST YEAR.......
SO TO ALL THAT READ THIS BLOG AVOID GOING TO THE PETROL STATIONS GALP

THE SAGA CONTINUES...-

TO ALL THAT VISIT PORTUGAL ... AVOID GALP PETROL STATIONS...
THE PETROL PRICES IN PORTUGAL CONTINUE TO GO UP, MAINLY BECAUSE OF THE GALP ENERGIA policy of no respect for the population in general, they increase weekly the petrol prices, and now they dont even anouce the fact that the prices have gone up...

SO TO ALL THAT READ THIS BLOG AVOID GOING TO THE PETROL STATIONS GALP

Gasoline

``Crude is going to have a hard time getting much going'' without fresh bullish news, Access's Frye said. Concern about U.S. equity markets may ``freeze'' investor appetite for taking on more risk in other markets, he said.
Gasoline for April delivery was at $1.8790 a gallon in after-hours trading after falling 2.3 percent yesterday. The contract reached $1.9550 on March 13, the highest in almost seven months.
``Any strength in crude oil is related to robust demand for petroleum products,'' Summit Energy's Samples said. ``The crack spread is the highest we've seen since right after Katrina and Rita. The strength in product prices and the crack will pull crude higher.''
The profit margin or ``crack'' spread for turning three barrels of crude oil into two barrels of gasoline and one of heating oil jumped to $19.8232 on March 13, the highest since Oct. 4 2005, based on closing futures prices in New York. Refineries shut and prices surged when hurricanes Rita and Katrina struck the Gulf of Mexico in August and September 2005.

April delivery

Crude oil for April delivery was at $57.65 a barrel, up 10 cents, in after-hours electronic trading on the New York Mercantile Exchange at 9:15 a.m. in Sydney.
The contract declined 61 cents, or 1.1 percent, to $57.55 a barrel yesterday, the lowest closing price since Feb. 1.
Oil fell five of the past six sessions and is down 6.9 percent this month. The S&P 500 Index fell 2 percent on March 13, the second biggest one-day loss this year, after a report showed U.S. home loan defaults reached a record. The index has recovered half that loss the past two days.

Oil Trades Near Six-Week Low

Crude oil was little changed in New York after falling to a six-week low yesterday on concern defaults in the U.S. housing market may slow demand in the nation's economy, the world's biggest oil user.
Oil dropped after OPEC left its production targets unchanged and warned of ``downside risks'' to global demand if the U.S. economy slows. The slide accelerated after former U.S. Federal Reserve Chairman Alan Greenspan said he expects the fallout from subprime-mortgage defaults to spread to the broader economy.

U.S. Demand, Stockpiles

The U.S. is the world's largest oil consumer. A separate report yesterday showed U.S. retail sales rose a less-than forecast 0.1 percent in February.
``When there's a situation like this happening on Wall Street everybody flies to cash for everything,'' New Wave's Mennis said. ``Everybody is talking about how important the housing market has been to this economic boom we've had. I think people are getting more wary.''
Oil yesterday climbed to $59.55 after the International Energy Agency said oil stockpiles in industrial nations may fall the most in 10 years this quarter on recent cold weather and OPEC's supply cuts...

BUT HERE IN PORTUGAL THE CONSUMER PETROL PRICES ARE ONE OF THE MOST EXPENSIVE IN EUROPE...THANKA TO THE GOVERMENT AND TO GALP ENERGIA,...

Crude oil rebounded

Oil fell a fourth day yesterday when U.S. stock prices plunged on a report showing foreclosures on the country's home loans reached a record in the fourth-quarter. Gasoline futures neared a seven-month high yesterday on speculation a government report today will show U.S. stockpiles fell for a fifth week.
BUT HERE IN PORTUGAL THE CONSUMER PETROL PRICES KEEP GOING UP... THANKS TO GALP ENERGIA...

CRUDE PRICES FALLING

THE Light Sweet Crude FOR DELIVERY IN ABRIL CLOSED IN NEY YORK LOOSING 1,14 DOLARS CLOSING AT 58,91 DOLARS PER BARRIL.
BRENT REFERENCE FOR EUROPE CLOSED AT 60,68 DOLARS PER BARRIL.

BUT NO HERE IN PORTUGAL AND THANKS TO GALP THE PRICE FOR CONSUMERS KEEP GOING UP...

Gasoline prices in America

The average U.S. pump price for regular gasoline rose 0.7 cent to $2.507 a gallon yesterday, according to AAA, the nation's largest motoring club. Prices have risen 36.2 cents since Jan. 24 and exceed $3 a gallon in parts of California, including San Francisco, Santa Barbara and San Jose.
Refineries such as Exxon Mobil Corp.'s plant in Torrance, California, are operating at reduced rates while undergoing maintenance. Tesoro Corp. said yesterday start-up of several units, including a catalytic cracker, will be delayed until about March 16 because of mechanical problems.
Valero Energy Corp.'s McKee refinery in Texas will be down until April after a fire last month.

IN ALL THIS UP AND DOWN BUSINESS THE PETROL PRICES IN PORTUGAL CONTINUE VERY HIGH ALL BECAUSE THE GAPL ENERGIA HAS NO RESPECT FOR THE PORTUGUESE NACIONALS...

Oil Continue to Fall

Imports of the motor fuel fell to 788,000 barrels a day last week, the lowest since October.
The opportunity to profit from shipping gasoline from Northwest Europe to the U.S. East Coast may be limited now compared with a year ago. Wholesale gasoline prices on the East Coast were 11.1 cents a gallon higher than fuel sold in Northwest Europe, including the cost of shipping, based on data compiled by Bloomberg. The margin averaged 21.48 cents a gallon in 2006.

Oil Falls

Crude oil fell on speculation heating-fuel supplies will be sufficient to meet demand as winter comes to a close in the U.S. Temperatures will be above normal across most of the country from March 13 to March 21, according to the National Weather Service.
Crude oil for April delivery fell 18 cents to $61.64 a barrel in New York. Heating oil for April delivery fell 0.61 cent to $1.7613 a gallon. Crude accounts for about half the pump price of gasoline and 60 percent of the retail cost of heating oil.

Gasoline Demand

Gasoline consumption has been stronger than normal this winter, averaging more than 9.1 million barrels a day over the four weeks ended March 2, 3.3 percent above the same period last year, according to the Energy Department. Demand, which typically grows by 1.5 to 2 percent a year, peaks in the summer.

THE SAGA CONTINUES

HIGH 78,40 dolars JULY 14 2006
LOW 56,21 dolars NOVEMBRO 16 2006
BUT THE PETROL PRICES IN PORTUGAL ARE BASED ON THE JULY 14 MARKET PRICE...

IF THIS IS NOT SO, THEN WHY DONT THE GALP ADMINISTRATORS COME FORWARD
AND DENY.... IF THEY CAN...

STOCK MARKET

Today the GALP ENERGIA in the stock market was the only company trading positive, they reached a new high 7,25€.
NO WONDER THEY HAVE THE HIGHEST PERTOL PRICES FOR THE CONSUMER IN ALL EUROPE....

SO IF YOU VISIT PORTUGAL AVOID THE GALP ENERGIA PETROL STATIONS ....

GALP

The nations petrol continues to be highly priced due to Galp ... the petrol prices are the same if not higher since last year when the international market prices reached higher than 74 dolars per barrel....

SO IF YOU VISIT PORTUGAL AVOID THE GALP ENERGIA PETROL STATIONS ....
TODAY THE MARKET PRICE IS AROUND THE 61,69 ...