September 1st, 2010 at 06:38pm
Under Crude oil
Declining crude oil prices make their way to the pump
Declining crude oil prices in recent weeks continue to drive gas prices down as motorists get ready for the Labor Day weekend.
Read more on The Newark Post
Oil creeps above after big fall on weak demand
Oil prices rose above a barrel Wednesday after a steep drop the previous day amid evidence that U.S. crude supplies remain high and demand weak. By midday in Europe, benchmark crude for October delivery was up 66 cents to .58 a barrel in electronic trading on the New York Mercantile Exchange.
Read more on INO News
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By Oilism.com
September 1st, 2010 at 02:39pm
Under Crude oil
Oil prices drop as economy still looks shaky
Some of the economic news was a little better on Tuesday, but it was not enough to keep oil prices from dropping again. Benchmark crude for October delivery lost .78 to settle at .92 a barrel on the New York Mercantile Exchange. At the pump the national… New York Mercantile Exchange – Benchmark – Barrel – Business – Price of petroleum
Read more on San Francisco Chronicle
Commodities: Oil retreats ahead of economic data
LONDON (SHARECAST) – Crude oil futures fell on Monday as traders gear up for this week’s long line of economic data. Crude oil for October delivery settled 47 cents lower at .70 a barrel on the New York Mercantile Exchange.
Read more on ShareCast
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By Oilism.com
September 1st, 2010 at 10:38am
Under Oil price
Rising oil prices becoming a heated cause of concern
Home heating oil in the United States is also known as No. 2 heating oil or oil heat, which is highly inflammable liquid petroleum product with low viscosity. It is mainly used as fuel in furnaces in buildings or boilers.
The oil that is used to heat homes in the United States comes from a variety of sources including those on the shores of the United States (domestic heating oil) and those across the sea (foreign). With more than eight million people in the U.S. using oil to heat their homes, the domestic heating oil supply would never be enough to meet the demand – thus, there is a continuous hike in the heating oil price.
Oil is used almost everywhere ranging from cooking to machinery. So, there are times now when oil has become a scarcity and is a difficult resource to find. Many people heat their homes with heating oil, and thus the domestic heating oil price change fast with the seasons. In the colder months, oil is in demand, and thus the cost goes up. In the warmer months, oil is not in demand and the prices go down. These prices can go up and down month to month, but generally the most expensive season of the year and the most expensive months to purchase oil is in December, January, and February in most parts of the country. Low inventory in the winter drives prices up – it’s the law of supply and demand.
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By Oilism.com
September 1st, 2010 at 06:40am
Under OPEC
How To Trade Oil
There are many ways Investors can gain exposure to Oil ranging from Oil stocks, Exchange traded funds through to Futures contracts.
Crude oil is the raw material that is refined to produce gasoline, heating oil, diesel, jet fuel and many other petrochemicals
What makes it move
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By Oilism.com
September 1st, 2010 at 02:38am
Under Oil Spills
Oil Spill Damages May Leave Florida Out
Not a drop of oil from the Gulf spill washed ashore at Tradewinds Island Resorts on Florida’s St. Pete Beach, yet the company is seeking as much as million in compensation for lost profits from the billion fund set up by BP PLC.
Read more on Fox News
Update on the Gulf Oil Spill
→ Was hington’s Blog Oil Tests Positive for Dispersants in the Mississippi Sound The Press-Register notes today: Lumpy, degraded oil collected in the Mississippi Sound has tested positive for several of the main ingredients in the Corexit dispersant used in connection with the Deepwater Horizon oil spill, according to scientists working for a New Orleans-based lawyer. Officials with the …
Read more on Zero Hedge
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By Oilism.com
August 31st, 2010 at 10:39pm
Under OPEC
How World Events Can Affect Fuel Prices
There are many factors that affect the price you pay at the pump when you fill up your vehicle with gasoline. The price of fuel may fluctuate even if the price of crude oil remains constant. However, when crude oil prices change, the cost of gas at the pump is always affected. Seasonality, competition between local retail stations, domestic problems like pipeline outages, and world events are all big influencers that determine how much you are expected to shell out at the pump.
The reason why world events play such a huge role in determining the price of fuel is the fact that crude oil prices are dependent upon global supply and demand, which can change on a dime. The most influential aspect of this is an organization known as OPEC, or the Organization of Petroleum Exporting Countries. In an effort to keep fuel prices fairly level, OPEC has set an upper limit on crude oil production since its organization in 1960. With 40 percent of the world’s crude oil production—and more than two out of three crude oil reserves—under the control of OPEC, this organization clearly has a huge say on the prices of fuel across the globe.
An early example of world events affecting the price of gasoline took place in 1973, when the Arab oil embargo occurred. Angered at the U.S.’s assistance to Israel in helping push back Egyptian and Syrian forces, OPEC imposed an embargo on the U.S. and raised oil prices to its Western European allies by 70 percent, setting off a severe recession and limiting the amount of gasoline Americans had access to. Gasoline became very expensive and rare at a time when 85 percent of Americans drove to their place of employment. More recent world events involve OPEC’s crude oil production cuts and mayhem in countries that the world relies on for oil production.
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By Oilism.com
August 31st, 2010 at 10:39pm
Under OPEC
How World Events Can Affect Fuel Prices
There are many factors that affect the price you pay at the pump when you fill up your vehicle with gasoline. The price of fuel may fluctuate even if the price of crude oil remains constant. However, when crude oil prices change, the cost of gas at the pump is always affected. Seasonality, competition between local retail stations, domestic problems like pipeline outages, and world events are all big influencers that determine how much you are expected to shell out at the pump.
The reason why world events play such a huge role in determining the price of fuel is the fact that crude oil prices are dependent upon global supply and demand, which can change on a dime. The most influential aspect of this is an organization known as OPEC, or the Organization of Petroleum Exporting Countries. In an effort to keep fuel prices fairly level, OPEC has set an upper limit on crude oil production since its organization in 1960. With 40 percent of the world’s crude oil production—and more than two out of three crude oil reserves—under the control of OPEC, this organization clearly has a huge say on the prices of fuel across the globe.
An early example of world events affecting the price of gasoline took place in 1973, when the Arab oil embargo occurred. Angered at the U.S.’s assistance to Israel in helping push back Egyptian and Syrian forces, OPEC imposed an embargo on the U.S. and raised oil prices to its Western European allies by 70 percent, setting off a severe recession and limiting the amount of gasoline Americans had access to. Gasoline became very expensive and rare at a time when 85 percent of Americans drove to their place of employment. More recent world events involve OPEC’s crude oil production cuts and mayhem in countries that the world relies on for oil production.
(more…)
By Oilism.com
August 31st, 2010 at 02:38pm
Under Crude oil
Crude Oil Transportation Services Company
In light of the recent environmental problems plaguing the world, environmental tragedies like oil spills provide people with the shocking truth that man’s actions really have a great impact on the environment. Oil spills along bodies of water are capable of killing marine life as well as disrupting the marine ecosystems as well as the biological systems that are closely interrelated with the ocean. Tragedies like oil spills would have never occurred if people have given attention to oil field transportation. The question in people’s minds would be “where did it go wrong?”
To begin with, it is not a question of why people are transporting oil, but rather how they are transporting it. There is a need to transport oil since it is a very important commodity all over the world, and the safest way to transport it is through the sea (just imagine if it were carried by plane and the plane crashed). Crude oil, in order to be used must be transported from production sites to refineries. This is made possible by using different kinds of transportation modes. People are most familiar with sea transport of the oil. Crude oil is transported across great bodies of water using large tankers and barges.
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By Oilism.com
August 31st, 2010 at 10:38am
Under Oil price
Oil price and other oil news at Oil Price Quote
If we look around us, we will see that almost anything which is there either runs on fuel or electricity. This fuel dependence has caused serious economic issues for a lot of countries even for economically developed countries. Free crude oil price quotes. Instant access to latest oil prices, oil commodity charts, oil forecast and oil news.
Oil price is a very important aspect for the current crisis situation and oil drilling is one of the major activities that is being done so far, in the last two centuries, to keep our engines running daily. All the countries in the world are dependent on the oil that is being drilled and then pumped into the pipes regularly.
Oil drilling possibility is a fortune for a few countries in the world and the main nations are the Arab nations like United Arab Emirates, Saudi Arabia, Iraq and Iran. In fact, Russia too has a lot of oil. The crude oil reserves drives their economies as they have nothing else in terms of manufacturing industry or the other industries.
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By Oilism.com
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