WORLD OIL COMMODITY

Petição Pública - A Petição foi assinada com sucesso.

2011-03-09T12:41:00.000-08:00

Petição Pública - A Petição foi assinada com sucesso.

2008-10-21T11:48:00.000-07:00

New U.S. dollar

2008-10-14T15:04:00.000-07:00

As you know US economy is having serious problems, the stock markets are going down as crisis fears spread. Bankruptcies, unemployment rising, people’s debts are rising; well I don’t know where all these problems end up.
So, with all these problems the US dollar is now in panic! So, here you have the new dollar!
http://www.so-buracos.blogspot.com/

Oli Industry Corruption..

2008-10-03T08:15:00.000-07:00

Corruption in the oil industry in Portugal continues as yet again BP,Galp and Repsol increased the final consumer price of oil by three cents per litre ( 95 oct.1,429€), consumers should be paying less 12% !!! even as oil prices closed at their lowest level in two weeks Thursday, tumbling below $94 a barrel on doubts that a revamped financial bailout plan will be enough to avoid a protracted economic slump and revive dwindling Europe and U.S. energy demand. Oil prices have fallen in the past month with concerns about waning global energy consumption.
Portugal continues to have one of the most expensive final consumer prices of any oil product (diesel /regular) in the world ...This situation places the economy in the RED, as consumers pay more and more for energy....while in the international market prices are falling...
There is no justification for the inflated gasoline prices sold by Galp, BP and REPSOL and in particular by BP.!!!
Oil in New York has fallen +/-35 percent from a record $147.27 a barrel on July 11 as high prices and slowing global economic growth reduce demand for fuels ... however Portugal this very moment has the most expensive final consumer price for gasoline in Europe and one of the highest in the world... BP filling stations are the most expensive ...

Oil prices have fallen about $15, or 13 percent, in the past month as investor concerns about waning global energy consumption outweigh threats to supplies caused by Gulf Coast hurricanes and militant attacks in Nigeria.
The slump in energy demand has accelerated beyond the U.S. In India, domestic oil product sales totaled 2.41 million barrels per day in August, the lowest level this year, according to Barclays Capital research. In the same month, Japan's oil demand fell by 8.4 percent.
Significant gains over the past days by the dollar against the euro have also helped push down prices. Investors tend to buy commodities like oil to defend against dollar weakness and a hedge against inflation, but return to the U.S. currency as it strengthens.
Oil consumption in Portugal this year has dropped more than 11% and all tendencies indicate that it will continue and pass the 14% !!!
This arrogant attitude by the oil companies and government will not be forgotten as Portugal will shortly enter a period of elections for a new government, the population will certainly have the opportunity to elect a new government that will work for the people and not for the oil industry...

WORLD CRUDE DEMAND

2008-04-25T15:25:00.000-07:00

Tpo story for the day seereport ..

US INFLATION: http://so-buracos.blogspot.com/2008/05/traveling-without-your-car.html

PHOTOSHOP

2008-02-22T15:25:00.000-08:00

WITH PHOTOSHOP ALL IS POSSIBLE , EVEN THE UGLY DUCKLING CAN BE A MODEL..

SO SIMPLE AND EASY

Venture Alliance Partners

2007-12-18T12:01:00.000-08:00

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Visit our user-friendly website at www.venpar.com - we are looking forward to make the most out of your interests.

SPECULATION

2007-11-29T12:13:00.001-08:00

The much needed slowing down on SPECULATION has finally happened and the result was instant as crude oil fell, reaching its biggest two-day drop since January.

U.S. Stockpiles fell 452,000 barrels to 313.2 million last week, according to the Energy Department. Supplies at Cushing, Oklahoma, where New York-traded West Texas Intermediate oil is stored, rose 665,000 barrels to 15.2 million. Refineries operated at 89.4 percent of capacity, the highest since the week ended Sept. 14, the report showed.

Crude-oil stocks didn't fall as much as expected and there was actually a big build in Cushing.

Crude oil for January delivery fell $3.80 to $90.62 a barrel at 2:45 p.m. on the New York Mercantile Exchange. It was the lowest close since Oct. 30. Futures reached $99.29 on Nov. 21, the highest intraday price since trading began in 1983. Prices are up 49 percent from a year ago.

Brent crude oil for January delivery fell to close at $89.81 a barrel on the London-based ICE Futures Europe exchange. Brent reached $96.65 a barrel on Nov. 26, the highest since trading began in 1988.

Perhaps we will now be heading for the $90 area.

Refinery Maintenance has now ended, refiners usually start units in November that were shut during September and October to make repairs after the summer driving season and before heating demand picks up.

However today oil surged more than $4 a barrel, the most in a month, after an explosion cut Canadian oil shipments through Enbridge Inc. pipelines that typically provide about 15 percent of U.S. crude imports.

According to the news agency, Enbridge closed four pipelines that supply an average of 1.5 million barrels a day after a blast yesterday killed two workers. The company confirmed a fire is still burning at the Clearbrook terminal in Minnesota where the pipelines meet.

Crude oil for January delivery gained as much as $4.55 to $95.17 a barrel in electronic trading on the New York Mercantile Exchange. That's the biggest gain since Oct. 31

According to a spokeswoman for Calgary-based Enbridge, all the lines are shut down until they can safely start up the system, they also mentioned at least one or two lines will be shut down for quite sometime.

Brent crude oil for January settlement climbed as much as $3.01, to $92.82 a barrel on the London-based ICE Futures Europe exchange.

Today's rally places a 7.7 percent slide in the first three days of the week, driven by signs that the Organization of Petroleum Exporting Countries is raising production and may increase output further.

Enbridge's pipelines typically feed 1.5 million barrels a day of crude to refineries including BP Plc's plant in Whiting, Indiana, and plants in the U.S.'s refining heartland on the Gulf Coast. The U.S. imported 10.3 million barrels a day last week.

The leak and explosion occurred at the No. 3 pipeline, which was undergoing maintenance, now we will have a session of SPECULATION.

NEW RECORD

2007-11-21T15:37:00.001-08:00

The Crude/dollar saga continues as oil rose above $99 a barrel for the first time as a slumping U.S. dollar increased demand for commodities at a time of declining heating oil inventories.

Reaching $100 oil will be a major psychological barrier,every week we draw inexorably closer to the twilight zone.. Northern Hemisphere winter.

Futures in New York rose to within 71 cents of $100 as the dollar fell once more on speculation that the U.S. Fed. will cut interest rates for a third time this year. U.S.

Crude oil for January delivery climbed to a record $99.29 a barrel in after-hours electronic trading on the New York Mercantile Exchange.
The highest close since trading began in 1983 was reached yersterday $98.03 a barrel,,

Brent crude oil for January reached $96.53 a barrel on the London-based ICE Futures Europe exchange, the highest since trading started in 1988.

Oil has become a hedge for investors and the weaker U.S. dollar has contributed to the rise in gold and oil, oil demand typically peaks in the fourth quarter during the Northern Hemisphere winter.

Also Royal Dutch Shell Plc speculated that a fire reduced output by more than 50 percent from a 155,000 barrel-a-day oil- sands plant in Alberta, potentially cutting shipments to the U.S.

Oil Rises to a Record

2007-11-06T10:31:00.000-08:00

We received a news flash informing that crude oil rose to a record today as a storm approaches North Sea Platforms with 36-foot waves BP Plc and ConocoPhillips evacuate workers and cut production. This will probably cause crude-oil inventories to fall around 1.6 million barrels.

Normally a disruption in the North Sea might not have so much impact, but with jitters about Iran, Turkey and another forecast decline in crude inventories, you can see why the market's is so irregular.

Crude oil for December delivery rose to $95.89 barrel at 9:50 a.m. on the New York Mercantile Exchange. Futures climbed to $96.44 today, the highest intraday price since trading began in 1983. Prices according to last year are up 60 percent.

Brent crude oil for December rose to $92.44 a barrel on the London-based ICE Futures Europe exchange. Brent reached $92.74 a barrel, the highest since trading began in 1988.
As we informed before chances are that we'll reach $100 per barril but lets hope we won't stay there long. Prices should also come down because the Saudis are cutting prices to key customers.

Oil Rises Above $89

2007-10-19T11:32:00.000-07:00

The breaking point has been reached... most European countries cannot continue their normall business with the dollar and Euro at their present rates...

The spiral of the oil prices is a daily happening, everyday the market news is worse, now crude oil rose above $89 a barrel in New York for the first time after the U.S. dollar declined to a record low against the euro, enhancing the appeal of commodities as an investment.

Can the U.S. economy show signs of rising if the Federal Reserve cut borrowing costs ? NO... not as long as concerns that Turkey will use military force against Kurdish rebels in northern Iraq, a step that the U.S. says may damage Iraqi security and disrupt oil supplies,
Crude oil for November delivery rose to $89.46 on the New York Mercantile Exchange. Futures reached $89.56, the highest price since trading began in 1983. Prices are up 55 percent from a year ago.

Brent crude oil for December settlement rose to $84.61 a barrel on the London-based ICE Futures Europe exchange.
This will meam that soon in Europe as in other continents the final consumer price will also reach new values sending already fragil economies further into

the red zone...

Middle East

2007-10-18T12:15:00.000-07:00

The Middle East has been a sensitive region, conflicts, wars, religion... now all these tensions are to blame for inflating the price of crude... Talk of war in the world’s most unstable region can inflate a hefty “war premium” into each barrel of OPEC oil. In the Middle East, wars seem to break-out every few years, and a pause in the fighting are often just a timeout, in order to re-supply and prepare for the next round of fighting.

If one wants to point the “finger of blame” at the biggest culprit, not the only culprit, but the biggest, behind the historic rise in crude oil prices, it’s no other than Federal Reserve chief Ben “B-52” Bernanke, whose decision to bail-out Wall Street brokers and banks this past summer, by slashing short-term interest rates, set in motion another US dollar devaluation, and sent global oil prices and gold sharply higher.

The Fed is the guardian of the world’s top reserve currency, and has a responsibility to defend the purchasing power of the greenback, and keep global inflation in check. But when push comes to shove, the Fed is providing strong support for the crude oil and gold market.
Whenever the stock market has a bad day, reporters from the mainstream media try to find plausible explanation, for why the market turned south. This week, the surge in crude oil prices above $87 per barrel was widely blamed for the market’s sudden tremors...and now to add to the critical situation we have the Turkey/Iran affair.....

WHAT THE WORLD NEEDS IS A ALTERNATIVE ENERGY SOURCE, LETS ALL PUSH FOR A DIFFERENT ENERGY SOURCE...LET THIS OBJECTIVE BECOME ALIVE...ITS FOR THE GOOD OF ALL...

Turkey challange

2007-10-15T02:35:00.000-07:00

The world crude situation faces another challange in that crude oil rose to a record $84.05 a barrel in New York last week Oct. 12/07 on concern Turkey may seek to quell Kurdish rebels by invading northern Iraq, a country with the world's third-largest oil reserves.
Turkish Prime Minister Tayyip Erdogan told reporters his country would pursue the Kurdistan Workers Party, regardless of diplomatic costs, according to an Agence France-Presse report. Northern Iraq holds some of the country's largest oil fields, including Kirkuk, the source of much of Iraq's exports.
Lets hope this situation will not have any possibility of affecting crude supply.
Crude oil for November delivery rose to close at $83.69 a barrel at 2:50 p.m. on the New York Mercantile Exchange, a record settlement. Earlier, the contract touched $84.05, the highest since futures began trading in 1983.
Brent crude oil for November closed at a record $80.55 a barrel on the London- based ICE Futures Europe exchange.
Turkey's government will present a bill to parliament today authorizing a possible incursion across the border within a year.. Turkey said this week it would launch a crackdown on the Kurdistan Workers Party, or PKK, after rebels killed 15 soldiers in southeastern Turkey.
Saudi Arabia has the world's largest reserves of crude, followed by Iran and Iraq.According to estimates Iraq produced 2.075 million barrels of crude oil a day in September.
So lets wait and see the outcome of this situation, all we can do is use less fuel and in this way force the petrol companies to lower their consumer prices.

C.E.O

2007-10-03T16:07:00.000-07:00

The CEO of Galp Energia Portugals biggest Petrol company and one of the biggest companies in this country said in a parliment session that the final consumer price per litre is cheaper than in Spain.! (Spain is the country next to Portugal)

The consumers should take into account the discounts at the petrol stations... this statement can only be considered ridiculous, two or three cents per litre in some petrol stations! Very few petrol stations practice any type of discounts, any real discount...

This CEO goes on to say that due to these discounts tha petrol price in Portugal are in fact cheaper than in Spain...then he should explain to the public in general why we have diesel 10 cents more expensive than in Spain and petrol 30 cents more expensive...!

Portugal has one of the most expensive consumer price per litre in the world ... its not the consumers fault that the goverment places high taxes on this type of fuel, its up to the petrol companies such as Galp to force the govermnet to change its policy...but no...the petrol companies all they see is profits...the more expensive the better.
They all practice the same prices , if one increases the consumer price a cent more, then all other petrol companies also increase their final price... this practice has been in use for years,everyone has knowledge of this practice but the CEO of Galp Energia denies this practice ... the deniel only proves the information is correct.
These companies have no respect for the consumer, their objective is money money...

World situation

2007-09-23T15:11:00.000-07:00

The world now facing the situation were we have both the crude price in a daily price record and also
the dollar fluctuation, but in a downward movement, in a way this helps to relief the crude price since
all transactions are in dollars.
But something serious must be made...the world economy cannot support for very long these crude prices.
If the oil companies continue in this path they will also suffer serious problems as more and more alternative energy solutions
become more apparent such as hybrid cars, fuel cells and so on..the consumer will also reduce the use of cars to a minimum and in this way the prices will drop.
The exporting crude countries should remember that today they control the energy market but tomorrow they may be starving.

Record $81.18

2007-09-21T15:21:00.001-07:00

Once more humanity faces what the oil companies and some goverments whant... Crude oil rose above $81 a barrel for the first time in New York, this is caused because of speculation U.S. oil and gasoline stockpiles extended declines as refiners slowed operations with the passing of the nation's summer driving peak.... i dont understand, if the summer driving peak is over than why increase the fuel price...speculation of course...

According to information from the Energy Department the report will probably show U.S. oil stockpiles fell 2 million barrels last week, according to an analyst survey, the 10th decline in 11 weeks.

So now we face the fact that this market probably has the legs to get up to $83-$84 a barrel!

Crude oil for October delivery rose to $81.18 a barrel, The contract rose , to $80.57 yesterday, the highest closing price since trading began in 1983.

Oil stockpiles in the U.S., the world's largest consumer, held 322.6 million barrels on Sept. 7, 2.7 percent less than a year earlier.

The Organization of Petroleum Exporting Countries last week said it will release an additional 500,000 barrels of oil a day into the market beginning Nov. 1 to help meet fourth-quarter demand. OPEC produces about 40 percent of the world's oil.

For Europe the important news is that

Brent crude oil for November rose to $76.98 a barrel on the London-based ICE Futures Europe exchange yesterday.
SO THERE SHOULD BE NO REASON FOR THE LOCAL OIL COMPANIES TO INCREASE THE FINAL CONSUMER PRICE AS IT IS ALREADY
ONE OF THE MOST EXPENSIVE IN THE WORLD.

Petroleos Mexicanos

2007-09-10T11:34:00.001-07:00

Petroleos Mexicanos, , said saboteurs blew up three oil and gas pipelines in the state of Veracruz, the third terrorist strike on its distribution system since July.

. About 12,500 people were evacuated, Veracruz Governor Fidel Herrera said on Mexico-City-based Radio Formula. Pemex reported no injuries or damage outside its facilities. The 30-inch natural gas line connects Minatitlan to Mexico City. The 24-inch liquid natural gas line supplies Guadalajara, Mexico's second-largest city.

The group, operating in Oaxaca and other southern states, demanded at the time the government release two of its members it said were being held illegally. The Interior Ministry denied having the two in its custody. Hopefully this will not affect world crude distributiom…

Oil Rises on Signs of Supply Drop

2007-08-27T12:22:00.001-07:00

Crude oil rose pulled higher by gasoline, on speculation that U.S. inventories of the motor fuel declined for a fourth week. Anther likely excuses…The crude-oil market often follows gasoline during the summer.

Crude oil for October delivery rose 88 cents, to $71.97 a barrel on the New York Mercantile Exchange. Futures touched $72.05, the highest intraday price since Aug. 17. Prices are down 0.7 percent from a year ago.

The Organization of Petroleum Exporting Countries, which produces about 40 percent of the world's oil, is set to meet Sept. 11 in Vienna to discuss production plans for the fourth quarterBrent crude oil for October settlement rose 36 cents, to $70.98 a barrel on the London-based ICE Futures exchange.

So as can be seen everything or anything can be used to increase final consumer prices…

Galp Energy

2007-08-09T15:40:00.001-07:00

In our present situation here in Portugal were we continue to have one of the most expensive final consumer price for any petrol product in the world
and were the Tax imposed by the Goverment for crude based substances account for 14% of their budget ( petrol companies alone).
If we compare Portugal and Spain then we can see a huge difference,i.e.
The petrol we daily use in our cars is 26 cents more expensive in Portugal than in Spain ...

The diesel we use is also 22 cents more expensive in Portugal than in Spain.
According to the President of Galp Energia, Ferreira de Oliveira (the Nations biggest petrol company,Galp Energia ) they loose each year between 100 and 150 million litres of fuel due to the difference in taxes between both Nations.
The CEO Galp suggests that the taxes in Portugal should come closer to the ones practiced next door in Spain.

OPEC

2007-08-09T15:37:00.000-07:00

Crude oil fell for a second day due to the U.S. economic growth slowdown.
Any U.S. slowdown would cut demand for oil, while supply is increasing. OPEC oil production rose last month by the most since September 2004.
Crude oil for September delivery declined to $73.83 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Prices have fallen 6 percent since reaching a record $78.77 on Aug.1....
Brent crude oil for September settlement dropped to $73.35 a barrel on the ICE Futures exchange.

The 10 members of the Organization of Petroleum Exporting Countries with production quotas, all except Angola and Iraq, increased output by 85,000 barrels to 26.595 million barrels a day, according to crude based oil survey.

OPEC Cuts

The 10 countries, in an effort to maintain prices around $60, pledged to trim 1.7 million barrels a day in two rounds of cuts, one that started Nov. 1 and another that took effect Feb. 1. The 10 members pumped 27.5 million barrels a day in October.
So as mentioned the world is a ahostage to the black gold, every excuss is used by the oil companies and some goverments to keep the crude price at a level they desire...

Peak OiL

2007-07-25T12:06:00.000-07:00

Peak Oil Forecasters can reach $200 a barril.The end of the Oil Age.

This is not the prophecy of some apocalyptic cult..it will happen...the geologic theory known as peak oil will happen...Once the flow crests and starts to decline -- and some geologists say it already has -- oil will no longer be able to slake the world's growing thirst for energy. The result will be the oil shock to end all oil shocks. The price of a barrel of crude will spiral to $200 -- and keep rising. To the peaksters, today's energy crunch is nothing next to the pain that will follow.
Everyone agrees we'll run out of crude eventually. Oil, after all, is a finite resource: The Earth holds only so much of it. The controversial issue is when a global peak will occur -- and what will happen then.

Today, we consume 85 million barrels of oil a day, according to the U.S. Energy Information Administration (EIA). By 2030, the world will devour 118 million barrels a day, as China and India emerge as economic superpowers.

No one knows for sure how much oil the world has. That's a big question mark because the peaksters say production will max out once half of the oil has been pumped. So far, we've extracted about 1 trillion barrels in all. In 2000, the U.S. Geological Survey estimated global resources at 3 trillion barrels, enough to push peak production out to 2037.

OPEC countries
The cartel's members -- Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela -- together sit atop 75 percent of the world's reserves and account for about 42 percent of total production, according to BP.

What the world needs is a watchdog to control the oil situation with a realistic approach...
SO WILL WE FACE THE END OF THE OIL AGE.. ARE WE MISGUIDED SOULS WHO THINK
THE SKY IS FALLING!

SERIOUS CRISES

2007-07-25T12:05:00.000-07:00

Well we are now facing another "attack" regarding the crude market price since all pretext is used
to increase the final consumer price...Goverments should do as the Brasilian authoraties and implement a
Ethanol fuel based fuel on car and alike, in this way there would be a reduction of crude forcing these ever increasing prices to fall.

GOVERMENTS NEED TO ACT NOW ... OR THE WORLD ECONOMY WILL SHORTLY ENTER A SERIOUS CRISES...

Ethanol fuel

2007-07-25T12:03:00.000-07:00

With todays crude prices and the world situation were everyday we see more and more crude related happenings each nation and respective
goverments should offer incentives to producers and consumers alike to expand the Ethanol usage.
Ethanol may account for 10 percent of automobile fuel within five years, compared with about 3 percent now, The governments must offer incentives for service stations to install more pumps that dispense a blend of ethanol and gasoline.Ethanol isn't practical without government incentives without subsidies to lower its cost and mandates to require its use, the economic viability of ethanol is unclear even with today's elevated gasoline prices.

Brazil, is a model of ethanol use and no longer is a net importer of crude oil. There, refineries convert sugar cane into ethanol for use in so called flexible-fuel cars, which now make up 75 percent of vehicles sold in Brazil.
Automakers promote so-called E85 as less polluting than pure gasoline. They also highlight the better performance from its higher octane content. The trade-off is that ethanol is about 25 percent less fuel-efficient than gasoline, so drivers need more ethanol to go the same distance as gasoline.

Crude oil plunges

2007-06-11T15:17:00.001-07:00

Crude oil plunged more than $2 a barrel from a nine-month high.A weaker economy points to weaker fuel demand.''Crude oil for July delivery slipped $2.12, or 3.2 percent, to $64.81 a barrel at 1:09 p.m. on the New York Mercantile Exchange. Yesterday's close was the highest since Sept. 7. Prices fell 0.4 percent this week and are 7.8 percent lower than a year ago.Brent crude oil for July settlement tumbled $2.42, or 3.4 percent, to $68.80 a barrel on the London-based ICE Futures exchange.Will this have a effect here in Portugal, I don’t think so probably we will see yet another petrol increase …. These petrol companies have no shame…

THE SAGA CONTINUES

2007-06-07T03:39:00.001-07:00

Have you ever wondered what it will be like if the crude available in the world suddenly finished...would we be in a better or worst situation than we are now! No one can say for sure, the big oil companies together with the car makers surely have alternative solutions... But for the time being they are not interested in having cheaper oil prices, they only see profits going higher and higher, and here in Portugal the situation is even worse... No wonder we have one of the highest fuel prices in the world, the oil companies all they see are bigger and bigger profits, mainly the national company (GALP) which is always the first to increade the final consumer price..,.

Most Expensive in Europe

2007-05-21T15:37:00.000-07:00

THE GALP ENERGIA SGPSGALP ENERGIA IS THE BIGGEST CONTRIBUTER TO THE BAD FINANCIAL SITUATIONS OF THE PUBLIC. THEY HAVE NO RESPECT FOR THE PORTUGUESE POPULATION.THEY USE ANY PRETEXT TO INCREASE THE PETROL PRICES.SINCE THEY ARE A PORTUGUESE COMPANY THEY SHOULD BE THE FIRST TO PROTECT THE NATIONS INTERESTS, BUT NO…THEY THE FIRST TO INCREASE THE CONSUMER PRICES.IN FACT THE COMPANIES RESPONSABLES HAVE NO CORAGE … IF THEY HAD THEY WOULD NOT BEHAVE IN THIS WAY.

Galp

2007-05-21T15:28:00.000-07:00

Portugals national petrol company Galp energia is to explore for oil in East Timor and Mocambique, the exploration signed is for seven years for oil exploration and twenty five years for production rights.
This includes "offshore" and "onshore", , this also measns that the company will no doubt increase the consumer petrol price back home as it has always done...

THE SAGA

2007-05-17T14:55:00.000-07:00

THE GALP ENERGIA SGPSGALP ENERGIA IS THE BIGGEST CONTRIBUTER TO THE BAD FINANCIAL SITUATIONS OF THE PUBLIC. THEY HAVE NO RESPECT FOR THE PORTUGUESE POPULATION.THEY USE ANY PRETEXT TO INCREASE THE PETROL PRICES.SINCE THEY ARE A PORTUGUESE COMPANY THEY SHOULD BE THE FIRST TO PROTECT THE NATIONS INTERESTS, BUT NO…THEY THE FIRST TO INCREASETHE CONSUMER PRICES.IN FACT THE COMPANIES RESPONSABLES HAVE NO CORAGE … IF THEY HAD THEY WOULD NOT BEHAVE IN THIS WAY

OPEC-10 March Oil Output Rises

2007-04-11T15:11:00.000-07:00

The Organization of Petroleum Exporting Countries raised its crude-oil output in March following two months of cuts, the U.S. Department of Energy said.
The 10 OPEC members subject to production quotas, not including Iraq and recent member Angola, produced 26.575 million barrels a day, up 90,000 barrels a day from February levels, according to a report by the Energy Information Administration.
In addition, the EIA revised upward its estimate of OPEC-10 February output. According to the new estimate, oil production fell 175,000 barrels a day.

Refinery Outages

2007-04-09T12:33:00.000-07:00

``The continuing spate of refinery outages and maintenance issues is pushing product prices higher and putting downward pressure on crude,'' said Eric Wittenauer, an energy analyst at A.G. Edwards & Sons Inc. in St. Louis. ``Until you see an up-tick in refinery operations, crude oil will have a hard time rising.
Motiva Enterprises LLC, the refining joint venture between Europe's Royal Dutch Shell Plc and Saudi Arabia's state oil company, reported a malfunction that occurred yesterday at its plant in Port Arthur, Texas. The Port Arthur refinery has a daily processing capacity of 285,000 barrels, according to the Energy Department.
The profit margin, or ``crack'' spread, for turning three barrels of crude oil into two barrels of gasoline and one of heating oil jumped 5.5 percent to $22.546, the highest since Sept. 29, 2005, based on closing futures prices in New York.
``It looks like we will be seeing a strong crack spread for a while,'' Ritterbusch said. ``It won't shrink a great deal until we see some strong evidence of increased refinery runs.''
Refiners Trim Output
Refineries in Texas, California, Pennsylvania, Colorado, Ontario and Delaware have had to trim output over the past two months. The closure of Valero Energy Corp.'s McKee refinery near Sunray, Texas, has contributed to the increase in supplies in Cushing. Increasing stockpiles in this oil hub have depressed the price of oil in New York compared with Brent oil.
``Prices here are depressed because the tanks in Cushing are full as a result of refinery problems,'' said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. ``There's nowhere to put the oil. If someone could figure a way to ship the oil stuck in Cushing to the U.K. they would make a fortune.''
Brent crude oil for May settlement declined $1.66, or 2.4 percent, to $66.58 a barrel on the London-based ICE Futures exchange. Both the New York and London markets were shut on April 6 for the Good Friday holiday.
Uranium Enrichment
Iranian President Mahmoud Ahmadinejad said today that his country has begun enriching uranium on an industrial scale, stepping up defiance against the United Nations.
``Iran has succeeded in the nuclear-fuel-cycle development to attain production at an industrial level,'' Ahmadinejad said today at a ceremony at the Natanz uranium-enrichment site. He repeated that nuclear-fuel production was Iran's ``undeniable right'' and referred to ``a few powerful governments imposing their will on the rest,'' according to a broadcast of the speech.
The United Nations Security Council gave Iran 60 days from March 24 to suspend enrichment. The country already has ignored three UN deadlines to shut down production of the nuclear fuel. The UN demands were in response to allegations by the U.S. and some of its allies that Iran is using the development of nuclear power to disguise a weapons program. Iran denies that.
``We'll be keeping an eye on the news that Iran's nuclear production has reached an industrial level,'' said John Kilduff, vice president of risk management at Fimat USA in New York. ``This could perk up the market.''
The Strait of Hormuz is the world's most important oil transit chokepoint. Almost a quarter of the world's oil flows through the narrow waterway between Iran and Oman at the mouth of the Persian Gulf. Iran has the second-biggest proved oil reserves and is the second-biggest producer in the Organization of Petroleum Exporting Countries.

Crude Oil Drops More Than $2.50 a Barrel on Surging U.S. Supply

2007-04-09T12:29:00.000-07:00

April 9 (Bloomberg) -- Crude oil plunged more than $2.50 a barrel in New York, the biggest decline in three months, on speculation that an Energy Department report will show U.S. inventories jumped last week as refiners unexpectedly shut units.
Crude-oil supplies in Cushing, Oklahoma, where oil traded in New York is delivered, surged 12 percent in the week ended March 30, Energy Department figures show. Fires and power outages have forced refiners to shut units, reducing crude-oil demand. Oil prices also fell because release of British naval personnel on April 5 eased concern of a supply disruption in the Persian Gulf.
``Crude oil is pulling everything lower,'' said James Ritterbusch, president of Ritterbusch & Associates in Galena, Illinois. ``It looks like we will see record inventories in Cushing this week because of all of the refinery outages.''
Crude oil for May delivery fell $2.77, or 4.3 percent, to $61.51 a barrel at the 2:30 p.m. close of floor trading on the New York Mercantile Exchange. The contract is heading for the biggest one-day decline since Jan. 4. Futures touched $68.09 a barrel on March 27, the highest since Sept. 6. Prices are down 8.7 percent from a year ago.
Gasoline for May delivery in New York declined 3.86 cents, or 1.8 percent, to $2.0902 a gallon. Prices surged as high as $2.155 a gallon in early trading, the highest intraday price since Aug. 10.
An Energy Department report on April 11 is expected to show that U.S. crude-oil supplies rose last week as inventories of gasoline and distillate fuel fell, according to a Bloomberg News survey. Gasoline inventories plunged 9.7 percent to 205.2 million barrels in the eight weeks ended March 30, according to the department. April 9 (Bloomberg) -- Crude oil plunged more than $2.50 a barrel in New York, the biggest decline in three months, on speculation that an Energy Department report will show U.S. inventories jumped last week as refiners unexpectedly shut units.
Crude-oil supplies in Cushing, Oklahoma, where oil traded in New York is delivered, surged 12 percent in the week ended March 30, Energy Department figures show. Fires and power outages have forced refiners to shut units, reducing crude-oil demand. Oil prices also fell because release of British naval personnel on April 5 eased concern of a supply disruption in the Persian Gulf.
``Crude oil is pulling everything lower,'' said James Ritterbusch, president of Ritterbusch & Associates in Galena, Illinois. ``It looks like we will see record inventories in Cushing this week because of all of the refinery outages.''
Crude oil for May delivery fell $2.77, or 4.3 percent, to $61.51 a barrel at the 2:30 p.m. close of floor trading on the New York Mercantile Exchange. The contract is heading for the biggest one-day decline since Jan. 4. Futures touched $68.09 a barrel on March 27, the highest since Sept. 6. Prices are down 8.7 percent from a year ago.
Gasoline for May delivery in New York declined 3.86 cents, or 1.8 percent, to $2.0902 a gallon. Prices surged as high as $2.155 a gallon in early trading, the highest intraday price since Aug. 10.
An Energy Department report on April 11 is expected to show that U.S. crude-oil supplies rose last week as inventories of gasoline and distillate fuel fell, according to a Bloomberg News survey. Gasoline inventories plunged 9.7 percent to 205.2 million barrels in the eight weeks ended March 30, according to the department.
BUT IN PORTUGAL THE OIL PRICE WHENT UP AGAIN, LED BY GALP ENERGIA BP AND OTHERS, THEY ONLY NOW HOW TO INCREASE THE PRICE OF THE PETROL THEY NEVER LOWER THEIR PRICES, SO AVOID FILLING YOUR CAR AT GALP PETROL STATIONS , YOU WILL BE PAYING MORE FOR LESS...

Price sores

2007-04-06T16:32:00.000-07:00

When oil production starts to fall, the economic impacts could well be devastating.

When prices rise, will the political will to fight climate change wilt?Soaring crude prices could tip the world into a depression deeper than that of the 1930s, and collapsing stock markets cripple our ability to finance the expensive clean energy infrastructure we need.
As the unemployment lines grow, the political will to tackle climate change may be sapped by the need to keep the lights burning as cheaply as possible.
Many environmentalists seem to dismiss or ignore peak oil because they simply cannot see it as significant when compared to climate change.
But this is to miss the point.
Oil depletion is deadly serious in its own right, but it also has the capacity both to worsen emissions and destroy the wealth needed to fight global warming.
For this reason - among others - it too has the power to destroy our civilisation.

WORLD OIL RESERVES

2007-04-04T15:29:00.000-07:00

The world's overflowing oil reserves?

2007-04-04T15:28:00.000-07:00

Oil is making headlines again.
Never far from newsworthy, such is its over-riding economic and political importance, the spotlight has returned as harsh as ever.
The price of benchmark US light sweet crude recently reached its highest level for 13 years, and the cartel of petroleum exporting nations, Opec, maintained its decision to cut production - potentially fuelling yet more rises.
Add increasing violence in Iraq delaying its return to full oil production, and it is understandable that oil analysts have been getting the jitters.
Not to forget President George W Bush, who in an election year really does not want to see car-loving Americas moaning about high gasoline prices, which have also risen as a consequence.
And oil giant Shell already admitting twice this year that it has over-estimated its own oil reserves.
But looking behind the politics and other reasons for the upward pressure on prices (such as historically low oil and petrol stockpiles in the US), just how much oil is left under the surface of Planet Earth?

Oil down as British sailors freed

2007-04-04T15:12:00.000-07:00

World oil prices have fallen after Iran said it would immediately release 15 seized British navy personnel.
New York light crude fell 43 cents to $64.21 a barrel after the announcement by Iran President Mahmoud Ahmadinejad.
Brent crude slipped three cents to $67.78. However, the falls were offset by a sharp drop in US petrol supplies.
Prices had surged to seven-month peaks above $69 a barrel in London on Monday on fears the stand-off could disrupt crude exports.
"This is a fairly predictable short-term knee-jerk reaction,"

Confrontation in the Persian Gulf .

2007-03-27T16:23:00.000-07:00

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

2007-03-19T15:51:00.000-07:00

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...-

2007-03-18T14:35:00.000-07:00

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

2007-03-15T16:26:00.000-07:00

``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

2007-03-15T16:25:00.000-07:00

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

2007-03-15T16:21:00.000-07:00

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

2007-03-13T16:55:00.000-07:00

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

2007-03-13T16:54:00.000-07:00

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

2007-03-12T15:33:00.000-07:00

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

2007-03-08T15:36:00.000-08:00

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

2007-03-08T15:35:00.000-08:00

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

2007-03-08T15:32:00.000-08:00

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

2007-03-08T15:30:00.000-08:00

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

2007-03-01T10:11:00.000-08:00

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

2007-03-01T10:04:00.000-08:00

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

2007-03-01T09:44:00.000-08:00

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 ...

THE BATTLE COMTINUES..A BATALHA CONTINUA..

2007-02-19T07:09:00.000-08:00

E ESTA...1
Rússia prevê preço no crude nos 55 dólares este ano e nos 53 dólares em 2008O segundo maior produtor de petróleo a seguir à Arábia Saudita anunciou hoje as suas estimativas para o preço do 'ouro negro' para este ano e para 2008.Tiago Silva com InvertiaDeste modo, a Rússia prevê que para este ano o preço da matéria-prima se situe nos 55 dólares o barril, contra os 61 dólares estimados inicialmente, sendo que para 2008 estima que o preço do petróleo fique nos 53 dólares face aos 56 dólares previstos no seu último relatório.A Rússia necessita de analisar a evolução do preço .

Oil prices have fallen 25 percent internationally since reaching a record high in July, and the decline may undermine Russia's efforts to bolster export earnings. Crude oil traded at $59 per barrel at the end of last week. Russia estimates that Oil prices for this year will be ariund 55 dolars per barril and for 2008 around 53 dolars per barril ...

BUT IN PORTUGAL AND THANKS TO GALP THE OIP PRICES KEEP GOING UP ... AND NEVER DOWN....

BREAKING NEWS

2007-02-14T11:53:00.000-08:00

Oil May Drop to $30 as Investors Flee, Bernstein Says (Update2)
By Nicholas Larkin
Feb. 14 (Bloomberg) -- Oil will drop more than 30 percent to $40 a barrel in March and may drop to $30 as rising prices for storing crude lead to a `breaking point' that forces speculators to sell, Sanford C. Bernstein & Co. said.
Oil will slide because greater investment in commodity futures has driven the market into contango, according to analysts led by London-based Neil McMahon. The phenomenon occurs when futures prices rise above spot prices, often reflecting handling or storage costs.
``As storage fills up, storage costs rise and the contango widens,'' the analysts said in a February report. ``At some point, investors will reallocate money away from the commodity funds, causing futures prices to fall.''
Last month, New York-traded crude fell to $49.90 a barrel as warmer-than-expected weather spread across the U.S. and fuel inventories surged. Crude has since risen on a second production cut by the Organization of Petroleum Exporting Countries and a cold snap in the U.S., the world's largest energy consumer.
The ``breaking point'' could come in March if Saudi Arabia, OPEC's largest producer, fails to cut production below 8 million barrels per day, the level needed to keep the market balanced, the Bernstein analysts said. Spare capacity would rise, widening the contango and driving investors out.
Crude oil for March delivery fell as much as $1.56, or 2.6 percent, today to $57.50 a barrel on the New York Mercantile Exchange and traded at $57.81 at 1:16 p.m.
`Staggering' Flow
``The funds flow into commodities in recent years is staggering,'' McMahon and colleagues said. Net assets invested in the Goldman Sachs Commodity Index rose to almost $70 billion in 2006 from $15 billion in 2003, they said. ``The bubble is bound to burst.''
McMahon, 36, joined Bernstein from McKinsey & Co, in 2003. He previously spent three years in geology at BP Plc and BG Group Plc.
``You've got a lot of money coming into commodities from people who want to diversify from bonds and equities,'' Bernstein analyst Ben Dell said by phone today from New York. ``To some extent the bubble has burst. Making money on commodities is not as easy as it was.''
Bernstein has been looking at the problem of passive investment since June 2006, after the market curve changed into contango in Oct. 2005, according to Dell.
Rising and Losing
``After four years of fund flow into commodity futures, investors in oil are now struggling with how to generate a return with the curve in contango and a negative roll yield,'' he said. Investors can lose money even as oil rises when funds sell expiring contracts and then pay more for future contracts.
Bernstein said Oct. 16 that oil will probably fall to an average $50 a barrel in 2007 as inventories remain high and non- OPEC production rises. Crude has averaged $55.76 so far this year.
Among analysts predicting an increase in oil prices, Goldman Sachs Group Inc. says New York futures may rise to $71.50 a barrel this year because producer investment is ``significantly'' short of requirements.
The price of West Texas Intermediate, the benchmark U.S. crude, may average $69 this year, Goldman economist James Gutman said Feb. 8. The fuel reached a record $78.40 a barrel in New York on July 14.
Goldman Bullish
Goldman said in December 2005 that oil prices may go as high as $105 a barrel in a ``super spike'' period that may last until 2009, as production lags growing world demand.
Royal Bank of Scotland Plc agrees with Bernstein that oil will fall. Prices may drop to $45 a barrel by 2011 because ``the risk of severe supply disruption has receded'' and demand growth is slowing, RBS analyst Thorsten Fischer said Jan. 28. Production investment over the last few years will boost supply, he said.
Crude oil prices may plunge below $50 a barrel this quarter for the first time since May 2005 as rebounds become ``progressively shallower,'' chart analysts at Barclays Capital said last month.
Deutsche Bank, Europe's biggest securities company, last month cut its first-quarter crude oil estimate by 6 percent to $61 a barrel. The bank left its 2007 forecast unchanged at $62, citing production cuts by the Organization of Petroleum Exporting Countries.
``Even if Saudi Arabia cuts production, it is effectively creating underground storage, exacerbating the problem by encouraging further oversupply and making any future correction even worse,'' the Bernstein analysts said.

Oil May Drop to $30 as Investors Flee, Bernstein Says (Update2)
By Nicholas Larkin
Feb. 14 (Bloomberg) -- Oil will drop more than 30 percent to $40 a barrel in March and may drop to $30 as rising prices for storing crude lead to a `breaking point' that forces speculators to sell, Sanford C. Bernstein & Co. said.
Oil will slide because greater investment in commodity futures has driven the market into contango, according to analysts led by London-based Neil McMahon. The phenomenon occurs when futures prices rise above spot prices, often reflecting handling or storage costs.
``As storage fills up, storage costs rise and the contango widens,'' the analysts said in a February report. ``At some point, investors will reallocate money away from the commodity funds, causing futures prices to fall.''
Last month, New York-traded crude fell to $49.90 a barrel as warmer-than-expected weather spread across the U.S. and fuel inventories surged. Crude has since risen on a second production cut by the Organization of Petroleum Exporting Countries and a cold snap in the U.S., the world's largest energy consumer.
The ``breaking point'' could come in March if Saudi Arabia, OPEC's largest producer, fails to cut production below 8 million barrels per day, the level needed to keep the market balanced, the Bernstein analysts said. Spare capacity would rise, widening the contango and driving investors out.
Crude oil for March delivery fell as much as $1.56, or 2.6 percent, today to $57.50 a barrel on the New York Mercantile Exchange and traded at $57.81 at 1:16 p.m.
`Staggering' Flow
``The funds flow into commodities in recent years is staggering,'' McMahon and colleagues said. Net assets invested in the Goldman Sachs Commodity Index rose to almost $70 billion in 2006 from $15 billion in 2003, they said. ``The bubble is bound to burst.''
McMahon, 36, joined Bernstein from McKinsey & Co, in 2003. He previously spent three years in geology at BP Plc and BG Group Plc.
``You've got a lot of money coming into commodities from people who want to diversify from bonds and equities,'' Bernstein analyst Ben Dell said by phone today from New York. ``To some extent the bubble has burst. Making money on commodities is not as easy as it was.''
Bernstein has been looking at the problem of passive investment since June 2006, after the market curve changed into contango in Oct. 2005, according to Dell.
Rising and Losing
``After four years of fund flow into commodity futures, investors in oil are now struggling with how to generate a return with the curve in contango and a negative roll yield,'' he said. Investors can lose money even as oil rises when funds sell expiring contracts and then pay more for future contracts.
Bernstein said Oct. 16 that oil will probably fall to an average $50 a barrel in 2007 as inventories remain high and non- OPEC production rises. Crude has averaged $55.76 so far this year.
Among analysts predicting an increase in oil prices, Goldman Sachs Group Inc. says New York futures may rise to $71.50 a barrel this year because producer investment is ``significantly'' short of requirements.
The price of West Texas Intermediate, the benchmark U.S. crude, may average $69 this year, Goldman economist James Gutman said Feb. 8. The fuel reached a record $78.40 a barrel in New York on July 14.
Goldman Bullish
Goldman said in December 2005 that oil prices may go as high as $105 a barrel in a ``super spike'' period that may last until 2009, as production lags growing world demand.
Royal Bank of Scotland Plc agrees with Bernstein that oil will fall. Prices may drop to $45 a barrel by 2011 because ``the risk of severe supply disruption has receded'' and demand growth is slowing, RBS analyst Thorsten Fischer said Jan. 28. Production investment over the last few years will boost supply, he said.
Crude oil prices may plunge below $50 a barrel this quarter for the first time since May 2005 as rebounds become ``progressively shallower,'' chart analysts at Barclays Capital said last month.
Deutsche Bank, Europe's biggest securities company, last month cut its first-quarter crude oil estimate by 6 percent to $61 a barrel. The bank left its 2007 forecast unchanged at $62, citing production cuts by the Organization of Petroleum Exporting Countries.
``Even if Saudi Arabia cuts production, it is effectively creating underground storage, exacerbating the problem by encouraging further oversupply and making any future correction even worse,'' the Bernstein analysts said.

IN PORTUGAL THE PETROL PRICES KEEP GOING UP, THEREFORE AVOID FILLING YOUR CAR WITH PETROL AT THE GALP PETROL STATIONS...THEY ARE THE MOST EXPENSIVE...

OS SANGUESSUGAS CADA VEZ MAIOR..

2007-02-12T14:40:00.000-08:00

Energia 2007-02-12 20:54
Preços do crude encerram a recuar mais de 2 dólares o barril com anúncio da Arábia SauditaOs preços do petróleo terminaram a sessão de segunda-feira a recuarem mais de dois dólares o barril, depois da Arábia Saudita ter anunciado que as refinarias asiáticas vão receber mais remessas no próximo mês de Março, e afectados pelo discurso proferido pelo ministro do Petróleo saudita no qual afirmou que a Organização dos Países Exportadores de Petróleo (OPEP) vai manter sem alterações os níveis actuais de produção.Tiago SilvaDeste modo, o barril de Light Sweet Crude (petróleo de referência na América do Norte) para entrega em Março encerrou no NYMEX de Nova Iorque a cair 2,28 dólares para os 57,61 dólares, enquanto que o barril de Brent (petróleo de referência na Europa) para entrega em Março terminou a recuar 2,47 dólares para os 56,54 dólares.O ministro saudita Ali Al-Nuaimi afirmou hoje em entrevista que o cartel não deve modificar o nível da produção durante a reunião de 15 de Março em Viena, devido a um equilíbrio na oferta e a uma procura mais significativa do que a registada no Outono.Muitos analistas também atribuíram a queda do preço do 'ouro negro' a informações segundo as quais o fornecimento da Arábia Saudita à Ásia poderá aumentar em Março."Os comentários do ministro saudita do Petróleo, que considera que o mercado está 'equilibrado' e não sendo por isso necessário reduzir mais a produção, teve um efeito de queda sobre as cotações", comentou Bill O'Grady, analista da AG Edwards.

Á MAIS DE CINCO MÊSES QUE O PREÇO DO BARRIL ESTA ABAIXO DOS 60 DOLARES, MAS EM PORTUGAL A DESCIDA É PARA "SUBIR"

VAMOS TODOS BOICOTAR AS PETROLIFERAS DA GALP....

BOICOTAR A GALP

2007-02-08T14:53:00.000-08:00

O preço da gasolina em Portugal continua alto... Está ao mesmo preço de quando o barril no mercado internacional estava acima dos 73 doláres. Neste momento, está entre os 56 doláres a 59 doláres, e estes sanguessugas sobem mensalmente o preço sem qualquer razão concreta. Mais ainda, as gasolineiras da Galp sao as que têm os preços mais elevados .
MAS COMO PODEM VERIFICAR NÃO TEM NINGUÉM NA GALP COM CORAGEM PARA DESMENTIR O QUE AQUI É DITO...

SIM.. VAMOS TODOS BOICOTAR AS PETROLIFERAS DA GALP....

A VERGONHA CONTINUA....

2007-02-07T15:48:00.000-08:00

Energia 2007-02-07 21:07
Preços do crude encerram em forte queda afectados pelas reservas norte-americanasOs preços do petróleo terminaram a sessão desta quarta-feira a recuarem mais de 1 dólar o barril, afectados pela divulgação hoje feita pelo Departamento de Energia (DoE) norte-americano relativamente à queda acima do esperado das reservas de petróleo e de produtos destilados referentes à semana passada.Tiago SilvaSegundo o Departamento, as reservas de crude regrediram em 400 mil barris, uma queda contrária às previsões dos analistas que esperavam em média um aumento de 1,8 milhões de barris.O DoE adianta ainda que os stocks de gasolina progrediram em 2,6 milhões de barris, enquanto que os analistas estimavam uma subida de 1,8 milhões de barris.No que diz respeito às reservas de produtos destilados, o Departamento de Energia acrescenta que registaram uma queda de 3,7 milhões de barris, enquanto que os analistas esperavam uma queda de 3,2 milhões de barris.Deste modo, o barril de Light Sweet Crude (petróleo de referência na América do Norte) para entrega em Março encerrou no NYMEX de Nova Iorque a perder 1,17 dólares para os 57,71 dólares, enquanto que o barril de Brent (petróleo de referência na Europa) para entrega em Março terminou a cair 1,19 dólares para os 57,23 dólares.

VAMOS TODOS BOICOTAR AS PETROLIFERAS DA GALP. SÓ DESTA MANEIRA VAMOS FAZER COM QUE ESTES SANGUESSUGAS BAIXEM O PREÇO DA GASOLNA.

MAIS UMA SUBIDA....

2007-02-04T13:58:00.001-08:00

No actual cenário dos mercados mundiais do petróleo e dos seus derivados, têm-se verificado variações de preços com uma frequência cada vez mais acentuada. A Galp Energia NÃO prossegue a sua política de fazer traduzir no mercado as oscilações dos índices internacionais, NÃO garante, nomeadamente, que movimentos de reduções das cotações são reflectidos tão rapidamente quanto possível nos preços no consumidor.

CONTINU A SUBIR O PREÇO DO COMBUSTIVEL, ENGANA OS PORTUGUESES CONSTANTEMENTE...
A PROVA DISSO FOI ESTA SEMANA COM MAIS UMA SUBIDA NOS PREÇOS.....

A SAGA CONTINUA ... CONTINUA ...

2007-01-28T14:00:00.000-08:00

Energia 2007-01-26 20:25
Petróleo encerra nos 55 dólares com tempo frio nos EUAOs preços do crude terminaram a semana nos 55 dólares o barril, com os investidores a prever um aumento da procura face ao tempo frio no noroeste norte-americano, numa altura em que a Organização dos Países Exportadores de Petróleo (OPEP) se prepara para efectivar o corte na produção anunciado no final do ano passado.Pedro Latoeiro com BloombergDeste modo, o barril de Light Sweet Crude (petróleo de referência na América do Norte) para entrega em Março encerrou no NYMEX de Nova Iorque a subir 1,16 dólares para os 55,39 dólares, enquanto que o barril de Brent (petróleo de referência ...

PARA OS PORTUGUESES A SAGA CONTINUA ... SOMOS DIARIAMENTE ROUBADOS PELA GALP COM O CONHECIMENTO DOS GOVERNANTES...

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A SAGA CONTINUA

2007-01-25T15:28:00.000-08:00

Energia 2007-01-25 20:56
Preços do crude encerram a recuar com aumento das reservas norte-americanasOs preços do petróleo terminaram a sessão de hoje a recuarem mais de 1 dólar o barril, afectados ainda pelos últimos dados relativos ao nível das reservas norte-americanas, ontem anunciados pelo Departamento de Energia(DoE), que deram conta de um aumento ligeiro dos stocks petrolíferos e de derivados referentes à semana passada.Tiago SilvaDeste modo, o barril de Light Sweet Crude (petróleo de referência na América do Norte) para entrega em Março encerrou no NYMEX de Nova Iorque a perder 1,14 dólares para os 54,23 dólares, enquanto que o barril de Brent (petróleo de referência na Europa) para entrega em Março terminou a cair 1,23 dólares para os 54,20 dólares.Segundo o Departamento, as reservas de crude progrediram em 700 mil barris, uma subida inferior às previsões dos analistas que esperavam em média um aumento de 1,1 milhões de barris.O DoE adianta ainda que os stocks de gasolina progrediram em 4 milhões de barris, enquanto que os analistas estimavam uma subida de 1,3 milhões de barris.No que diz respeito às reservas de produtos destilados, o Departamento de Energia acrescenta que
registaram uma subida de 700 mil barris, com a média dos analistas a apontar para os 800 mil barris.

PARA OS PORTUGUESES A SAGA CONTINUA ... SOMOS DIARIAMENTE ROUBADOS PELA GALP COM O CONHECIMENTO DOS GOVERNANTES...

VAMOS TODOS BOICOTAR AS PETROLIFERAS DA GALP. SÓ DESTA MANEIRA VAMOS FAZER COM QUE ESTES SANGUESSUGAS BAIXEM O PREÇO DA GASOLNA.

Combustíveis caros em Portugal

2007-01-20T16:02:00.000-08:00

A gasolina em Espanha está de tal forma mais barata que compensa guiar 125 quilómetros e voltar para abastecer do outro lado da fronteira.

O semanário Sol fez as contas e falou com a Associação Nacional dos Revendedores de Combustível. Segundo a associação, num ano apenas fecharam 30 postos de abastecimento portugueses próximos da fronteira e o sector perdeu mais de mil empregos. A gasolina de 98 octanas, por exemplo, custa em Espanha menos 23 cêntimos por litro que em Portugal. Quem abastece em Espanha aproveita ainda para comprar outros bens mais baratos, sobretudo gás e tabaco. A viagem pode sair lucrativa mas perde o comércio nacional, além dos impostos destas transacções ficarem em Espanha.

MESMO ASSIM TANTO GOVERNO COMO OUTRAS ENTIDADES INCLUINDO JORNALISTAS NAO TEM CORAGEM PARA DEBATER ESTE ASSUNTO EM PUBLICO...

VAMOS TODOS BOICOTAR AS PETROLIFERAS DA GALP. SÓ DESTA MANEIRA VAMOS FAZER COM QUE ESTES SANGUESSUGAS BAIXEM O PREÇO DA GASOLNA.

O GOVERNO E A GALP SÃO CEGOS...

2007-01-17T10:04:00.000-08:00

Energia 2007-01-17 17:35
Petróleo cai para mínimos de 20 mesesO preço do crude atingiu o valor mais baixo dos últimos 20 meses em ambos os lados do Atlântico, depois do Ministro saudita do Petróleo ter descartado novos cortes na produção da Organização dos Países Exportadores de Petróleo (OPEP).Pedro Latoeiro com ExpansíonDeste modo, o barril de Light Sweet Crude (petróleo de referência na América do Norte) para entrega em Fevereiro segue no NYMEX de Nova Iorque a cair 83 cêntimos para os 50,38 dólares, enquanto que o barril de Brent (petróleo de referência na Europa) para entrega .
50,38 dólares!
ISTO É MESMO UMA REPUBLICA DAS BANANAS.
VAMOS TODOS BOICOTAR AS PETROLIFERAS DA GALP.
SÓ DESTA MANEIRA VAMOS FAZER COM QUE ESTES SANGUESSUGAS BAIXEM O PREÇO DA GASOLNA.

A SANGUESSUGA NACIONAL ... A GALP ENERGIA SGPS

2006-07-09T14:55:00.000-07:00

A GALP ENERGIA... Is the biggest resaponsable for the petrol price here in Portugal
The international price is around 60 dolars per barril but the prices here in one of Europes oldest nations is also one of the most expensive of Europe.