Crude Oil And Its Effect On Us Airways

[jB-Rocks]

Airlines give way as oil tops $56



See Story

 

[FWAAA]

OPEC: The Organization you can trust

http://www.opec.org/home/

At least OPEC is talking today about production increases.

 

[jimntx]

OPEC: The Organization you can trust

http://www.opec.org/home/

At least OPEC is talking today about production increases.

[post="256219"][/post]​

Please refer to my post #48 in this thread. OPEC is talking about production quota increases. As they are already producing above quota the proposed quota increase will only bring approx. 300,000 additional barrels of oil to market. A symbolic, but empty, gesture.

 

[usairways_vote_NO]

[post="256240"][/post]​

Not really because they will just exceed the new quotas. It is standard practice.

 

[usairways_vote_NO]

Crude oil +1.41 56.46

Yup 320 's insider knowledge at work again!!!! LOL

Record close and he said it was headed down !!!!!!

Take a chill pill 320 you need it.

 

[BoeingBoy]

It's another Wednesday, and that means the Weekly Petroleum Report update is out.

First some highlights from the weekly summary:

U.S. crude oil refinery inputs averaged 15.1 million barrels per day during the week ending March 11, up 180,000 barrels per day from the previous week's average. Refineries operated at 90.7 percent of their operable capacity last week. Distillate fuel production declined slightly compared to the previous week, averaging 3.9 million barrels per day.

U.S. crude oil imports averaged over 10.0 million barrels per day last week, down 58,000 barrels per day from the previous week. Distillate fuel imports averaged 307,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the SPR) rose by 2.6 million barrels from the previous week.

Total product supplied over the last four-week period has averaged over 20.7 million barrels per day, or 1.5 percent more than averaged over the same period last year.

Kerosene-type jet fuel demand is up 6.8 percent over the last four weeks compared to the same four-week period last year.

Now for spot prices for jet fuel on 3/11/05:

NY Harbor - $1.5813 per gallon
Gulf Coast - $1.5588
Los Angeles - $1.6227

Crude on 3/11/05 was:

WTI Cushing - $54.40 per bbl
Brent - $53.15

And, as usual, today's crude prices for comparison:

WTI Cushing - $56.46 per bbl
Brent - $55.01
NYMEX - $56.48
(all around 4:00PM)

Jim

 

[BoeingBoy]

In starting this thread....

In my opinion, in the short-term there will be some increases due to some short covering and bullish speculators, but the trend should continue down in anticipation of next week’s OPEC meeting in Iran. I’m hopeful crude oil prices will stabilize around $45 per barrel, which could be a good time to hedge. At this level, I believe US Airways can post a profit with the updated Transformation Plan.

Regards,

USA320Pilot

[post="254558"][/post]​

From Bloomberg late this afternoon:

OPEC Boosts Output, Fails to Keep Oil From Record (Update9)

Jim

 

[usairways_vote_NO]

In starting this thread....
From Bloomberg late this afternoon:

OPEC Boosts Output, Fails to Keep Oil From Record (Update9)

Jim

[post="256309"][/post]​

Jim you are soooo bad kicking him while he is down!!!!

 

[BoeingBoy]

uvn,

Just color me bad......

You don't know how hard I had to "bite my tongue" to keep from jumping on this one:

For me to make a comment would be speculation instead of providing information, thus it would serve no useful purpose.

[post="256286"][/post]​

Jim

 

[usairways_vote_NO]

Oh I know me too!!!!

 

[Bear96]

You don't know how hard I had to "bite my tongue" to keep from jumping on this one:
Jim

[post="256313"][/post]​

I guess I'm not as strong as y'all cuz I just couldn't resist that one.

 

[USA320Pilot]

Those who laugh last, laugh best. Oil prices are being driven by "paper prices" and every technical analysis indicator indicates a severly overbought market. Wait until the "long" speculators decide to take their profits and then see what happens.

Remember the NASDAQ? Oh yea, that cannot happen here.

Short squeezes can be a lot of fun too, unless it's you on the wrong end of the trade. What's interesting is the split between retail and institutional short sellers and the "open interest".

I fully understand supply and demand in the marketplace and how to trade commodities -- I do it almost every day.

Regards,

USA320Pilot

 

[usairways_vote_NO]

[post="256393"][/post]​

Why don''t you just go ahead and short it and we will watch your ship sink along with USAirways.

You finally get uncurled?

 

[USA320Pilot]

I short futures almost every day I trade.

Regards,

USA320Pilot

 

[usairways_vote_NO]

[post="256395"][/post]​

And you call us "naysayers"

How long you been short crude? Since 44 or lower?