Oil & Gas 01 (May 08 - Jul 08)

[iam802]

The auto industries or companies in US deserved to be tear apart by their competitors (Japanese, Koreans, Europeans and soon... India , China).

I never really understand the idea of having trucks as a key market. Maybe it make sense in US.

But, that does not seems like a global offering.

I may start to offload some of my unit trusts in Resource sector given this change.

[kennynah]

based on fibo retracement...crude @ $123.56 is now sitting at a 23.6% support

however, the daily has not shown a marked breakdown of prices. it is merely exhibiting a "normal" correction. To signal a weakening trend, the crude price should go below 119pbl and stay below in next sessions...

good luck folks...

[kennynah]

04 Jun 2008 08:50 GMT


LONDON MARKETS: Oil Producers, Miners Sharply Lower As FTSE Drops 80 Points


Sharp losses from oil producers and miners sent the FTSE 100 index firmly through a key level on Wednesday, as investors worried that a key prop for the index could be about to disappear.


The U.K. FTSE 100 index fell 1.3%, or 80 points, to 5,977.70, placing the index on track to close under 6,000 for the first time since the end of April.


In the oil and gas sector, shares of BP fell 2.7%, shares of Royal Dutch Shell lost 2.8% and natural gas producer BG Group slid 3.1%.


Of miners, shares in BHP Billion lost 1.9%, while shares of Anglo American slid 2%.


The losses followed more weakness in oil and gold prices, with light sweet crude futures down 74 cents at $123.58 a barrel in electronic trading and gold futures down $5.30 at $876.30 an ounce.


A weaker dollar has been linked to encouraging investors to buy commodity-price sensitive stocks.


However, on Tuesday, U.S. Federal Reserve chairman Ben Bernanke signaled the U.S. could move to support the dollar, which some investors took as a signal that dollar weakness won't be a significant factor in the future, sending crude futures to a near three-week low.

[kennynah]

BREAKING NEWS

04 Jun 2008 11:46 GMT
BULLET: CRUDE OIL: Crude oil prices squeezing higher on news.
CRUDE OIL: Crude oil prices squeezing higher on news of refinery fire in
Kansas. WTI Nymex crude oil is at $124.10, having hit $123.15 low
earlier in European session.

[kennynah]

f**k man... one news after another coming out that is supporting oil price
***********

04 Jun 2008 11:54 GMT
Total Assessing Presence In Nigeria Because Of Unrest -CEO
PARIS (AFP)--The head of French oil group Total SA (TOT)said Wednesday the company was assessing its presence in Nigeria because of unrest there but warned that any pullout would cause a surge in already record oil prices.

"We are asking ourselves the question (about staying in Nigeria)," chief executive Christophe de Margerie told a French parliamentary committee.

Oil companies and their personnel in the Niger Delta are being targeted by separatist militants who have stepped up a campaign of kidnappings and sabotage.

Citing Nigeria's daily output of 2 million barrels of oil, the Total chief said that a withdrawal by his or any other major company would "confront us with a veritable energy shortage and prices would surge."

[blid2def]

The protesting European fishermen & truck drivers, the Nigerian militant rebels and the Kansas arsonists are all funded by oil longsters?

[winston]

The protesting European fishermen & truck drivers, the Nigerian militant rebels and the Kansas arsonists are all funded by oil longsters?

Ha Ha... Did u not see Casino Royale ?

[blid2def]

Eh... no, haven't seen that.. Haha

[kennynah]

there are Kateks too...

************

04 Jun 2008 12:40 GMT
Norway Oil Workers Reach Deal On Wages, Avert Strike
OSLO -(Dow Jones)- Norwegian oil workers and the country's Oil Industry Association, or OLF, have reached agreement over offshore wage increases, averting planned strike action and the potential for large-scale curtailment of oil and gas volumes from Norway, OLF said Wednesday.

Negotiations between trade unions Industry Energy, or IE, the Federation of Oil Workers' Trade Unions, or SAFE, and the Norwegian Organization for Managers and Supervisors, or Lederne, all representing employees, and OLF representing employers have concluded and the "risk of labor disputes...is now over," OLF said.

((truncated))

[winston]

Eh... no, haven't seen that.. Haha

In the story, the guy bought a lot of puts on an aircraft manufacturer, who was about to launch a new series of airplanes. Actually, it looked like the A380

Thereafter, the guy sent someone to bomb the airplane during the launch. However, that someone met Mr. Bond, who managed to stop the attempt..

The guy then lost US$100m on his puts as the new series of planes were launched successfully