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2 comments Sunday 14 Sep 2008 | Posted By Patrick | Commentary

EDIT: FOR LATEST UPDATES ON REFINERY DAMAGE/SHUTDOWNS, VISIT THE REFINERY STATUS PAGE
NYMEX opened today at 10:30am, a break from when the exchange usually opens in the evening for electronic/international trading.
At 2:00EDT, gasoline for October delivery was trading down 12-cents/gallon while oil fell below $100/bbl.
I am researching and making calls today for possible damage reports. So [...]

5 comments Thursday 11 Sep 2008 | Posted By Patrick | Predictions

EDIT: 9:15pm EDT:
With the blog becoming the focus across the nation tonight, I am doing my part… or trying. Here’s what everyone can expect for tomorrow and the days ahead: Prices will likely rise for tomorrow in MOST areas. Here in the Midwest, we can expect at least 20-30cent differentials between now and tomorrow night. [...]

2 comments Thursday 11 Sep 2008 | Posted By Patrick | Predictions

UP-TO-DATE HURRICANE IKE INFO OR CLICK “HURRICANE CENTRAL” NEXT TO THE BLINKING Q&A LINK

If you have any interests in the South (Texas, Lousiana) area, you might want to inform them to stockpile gas at ANY PRICE under $4. Grand Rapids will likely also see a price hike to over $4, with more hikes coming.
Currently, gasoline [...]

2 comments Thursday 04 Sep 2008 | Posted By Patrick | Commentary

News this noon from WSJ that oil companies may have reported false oil inventory levels to benefit their positions:
The U.S. futures market regulator is investigating whether companies are reporting false oil inventory levels to benefit their trading positions, The Wall Street Journal reported on Thursday.
The paper, quoting people familiar with the probe, said the Commodity [...]

1 comment Wednesday 03 Sep 2008 | Posted By Patrick | Predictions

Many Americans can breathe a sigh of relief as workers slowly return to the Gulf to survery storm damage today. As of Wednesday morning, I have yet to hear of major damage to any facility that processes oil or natural gas. That has led to a large oil sell-off the last few days, with crude [...]

3 comments Monday 01 Sep 2008 | Posted By Patrick | Predictions

Looks like folks can breathe a sigh of relief… for now.
The NHC downgraded Gustav to a category two hurricane this morning, providing relief to a Gulf area that had been battered just 3 years ago by Katrina.
At 10am EDT, oil was trading down nearly $3/bbl while gasoline shed 6-cents.
Looks like there shouldn’t be any hike [...]