cpr - it's Wednesday and oil is up again. What were you saying?

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Light crude - up $1.23

Brent crude - up $.86

But here's what cpr had to say on Aug 5

"Monday and Tuesday after the OPEC traders have sold enough at 30, you will get another announcement and the price of crude will resume its downward trend."

What gives, cpr?

-- (here_we@go.again), August 09, 2000



Oil and Unleaded Gas rise then collapse in early trading.

Monday and Tuesday after the OPEC traders have sold enough at 30, you will get another announcement and the price of crude will resume its downward trend.


-- cpr (buytexas@swbell.net), August 05, 2000.

-- (|@|.|), August 10, 2000.


Commodity Movers

Thu, 10 Aug 2000, 2:02am EDT

Commodity Price Change % Change

CRUDE OIL FUTR Sep00 30.300 1.180 4.050%

-- (|@|.|), August 10, 2000.

http://cbs.marketwatch.com/news/current/snapshot.htx?source=htx/http2_ mw

Market Snapshot

. . . .By Julie Rannazzisi, CBS.MarketWatch.com

Last Update: 5:37 PM ET Aug 9, 2000. . . .

. . . .September crude climbed $1.23 to $30.35 and reached an intra- day high of $30.48, a level not seen since July 20. In the meantime, the Bridge CRB index slipped 0.21 to 218.69. The American Petroleum Institute reported late Tuesday another surprising drop in crude supplies, which fell by 2.144 million barrels in the latest week after a 9-million-barrel drop the week before, bringing total inventories to 24-year lows. . . .

-- (|@|.|), August 10, 2000.

http://cbs.marketwatch.com/archive/20000809/news/current/futures.htx?s ource=htx/http2_mw

Oil futures close above $30 a barrel

Crude inventories near 24-year low

By Myra P. Saefong, CBS.MarketWatch.com

Last Update: 5:03 PM ET Aug 9, 2000

NEW YORK (CBS.MW) - Crude oil futures closed above $30 a barrel Wednesday for the first time in three weeks after a weekly report on U.S. supplies confirmed that crude inventories are inching their way toward a 24-year low.

The American Petroleum Institute's and the Energy Department's measures of inventories hit 282 million barrels and 282.8 million barrels in January, respectively, their lowest level since 1976, according to Phil Flynn, a senior energy analyst at Alaron.com. Listen to the interview.

This week, the API and government data revealed that crude supplies stand at 282.6 million and 285.4 million, respectively.

On the New York Mercantile Exchange, September crude rose $1.23, or 4.2 percent, to close at $30.35 a barrel. The contract hadn't closed above $30 since July 19.

September heating oil climbed

3.71 cents to 83.54 cents per gallon, and September unleaded gasoline added 1.92 cents to 88.20 cents per gallon.

The more than 9 million-barrel decline in API crude stocks in the week ended July 28, and little movement reported in either direction this week, has prompted concerns that inventories aren't climbing enough to meet upcoming heating season demand, according to Allan Brady, an economist at the Dismal Scientist.

Dwindling inventories

After the market closed Tuesday, the API said supplies of crude, as of the week ended Aug. 4, fell 2.1 million barrels to 282.6 million. Analysts expected a rise of between 3.2 million and 3.5 million barrels, according to a Bridge News survey.

Early Wednesday, the Energy Department reported a 1.3 million-barrel rise in crude stocks. However, total inventories at 285.4 million remained near the 24-year low.

Meanwhile, distillate inventories, which include heating oil, dropped 1.2 million barrels last week, the API said. Supplies were expected to increase by between 1.9 million and 2.2 million barrels.

The Energy Department said inventories fell 500,000 barrels.

The API reported that gasoline supplies also fell 1.7 million barrels, compared with Bridge News-polled analysts' expectations for a drop of 1.1 million to 1.5 million barrels. The Energy Department said supplies fell 1.7 million.

Refinery production rates reached 95.2 percent, down from the prior week's reading of 96 percent, according to the API.


-- (|@|.|), August 10, 2000.

"US oil prices breach $30 on supply fears"


-- We need more oil (and@fewer.predictions), August 10, 2000.

And yet another day has passed. What happened to the price of oil?

Light crude - up $.99

Brent crude - up $.74

Oh well, any day now, right cpr?

-- (here_we@go.again), August 10, 2000.

http://cbs.marketwatch.com/news/current/snapshot.htx?source=htx/http2_ mw

Market Snapshot

. . . .By Julie Rannazzisi, CBS.MarketWatch.com

Last Update: 5:04 PM ET Aug 10, 2000. . . .

. . . .September crude extended Thursday's gains, rising 99 cents to $31.34. Crude cracked the $31 barrier for the first time since June 30 after rallying $1.23 on Wednesday. Another drop in crude oil supplies reported by the American Petroleum Institute late Tuesday was behind the upward jolt over the past couple of trading sessions. Meanwhile, the Bridge CRB index added 0.83 to 219.52. . . .

-- (|@|.|), August 11, 2000.

-- (|@|.|), August 11, 2000.


Tuesday, 15 August, 2000, 17:13 GMT 18:13 UK

Oil prices at 10-year high

Oil prices climbed to a 10-year high on Tuesday after Venezuela's President Hugo Chavez said producers should not allow prices to fall below current levels.

Venezuela is one of the world's leading oil producers and its energy minister is currently president of the Organisation of Petroleum Exporting Countries (Opec).

The price for one barrel of benchmark Brent crude oil, for delivery in September, rose to a high of $32.80 on London's International Petroleum Exchange before falling to $32.39 in late trading.

This is the highest price since November 1990, when the Gulf war sent prices spiralling upwards, and tops a peak of $31.95 reached on 7 March this year. In January 1999, a barrel of Brent crude traded for as little as $10.

Besides Mr Chavez's comments, the market was also shocked by data from the US, showing that the country's stocks of crude oil are at their lowest for 24 years.

Death sentence

Mr Chavez, who was in Nigeria on Monday as part of a tour of Opec members, had said the cartel should resist outside demands for lower prices.

Mr Chavez said he wanted a price "not high but fair" but said any fall from present levels could be a "death sentence" for producers such as Venezuela.

Opec officials had previously said they wanted prices to remain within a $22-28 a barrel range and would boost or cut supplies to help the price stay within this range.

However, managing the market to such a fine degree is proving to be difficult.

Any production increase would take several weeks to be felt in the consumer countries, analysts say.

Saudi's quiet approach

The world's leading oil producer and exporter, Saudi Arabia, has appeared to be in favour of increasing output to help soften prices.

But it has preferred a quiet approach, lifting production only gradually and saying little publicly.

Venezuela has adopted a more confrontational stance and has denied that prices are too high, despite in the past regularly flouting its Opec production quotas and thereby driving down prices.

US criticism

Mr Chavez, who attracted criticism from the US for meeting Iraqi President Saddam Hussein last week, was concluding his tour of Opec states with a visit to Algeria.

The purpose of the 10-nation trip had been to issue invitations to an Opec heads-of-state summit in the Venezuelan capital Caracas in late September.

Analysts have speculated that Saudi Arabia has kept quiet about its oil policy partly because of internal disagreements and partly because it does not want to be seen as out of step with its Opec partners in the run-up to a summit designed to promote unity.

-- Oil prices at a (10@year.high), August 15, 2000.

Let's see, for the past month (at least) we have witnessed threads on this board such as:

It's Monday and Oil's Up CPR! and

It's Tuesday and Oil's Down Moron! and

It's Wednesday and Oil's Up CPR! and

It's Thursday and Oil's Down Moron! and

It's Friday and Oil's Up CPR! and

It's Monday and Oil's Down Moron! and

(Are you seeing a pattern here yet? Let's see if I can explain this: oil goes up, oil goes down. It kind of repeats itself. It's called The Market.)

-- Patricia (PatriciaS@lasvegas.com), August 15, 2000.

Posting articles about the price of oil going up or down is one thing, but cpr made a very specific prediction and fell flat on his face with it. It's also worth noting that with the price of oil at a 10-year high, it's obvious prices have been going more up than down for many months now.

Cpr also had this to say in March, when oil prices were lower than they are now.


STILL DON'T THINK OPEC HAS PRODUCT??? They found the "price of pain" and now are backing off.

-- Everyone makes (mistakes@including.cpr), August 15, 2000.

BULL SHIT SQUARED (because I picked the peaks twice in MARCH and JUNE). YOUR SELECTIVE MEMORY NOT-WITH-STANDING. Ask "Sgt. Friday" how is "calls" at 90 for OCT. that he paid $3.50 for are doing. He is under water.

THE OIL SITS IN SUPPLY AND ALL OPEC HAS TO DO IS SHIP. SINCE Jan. DOOOMZIES have clung to OIL as the "proof" that Y2k struck production and that was why prices went up. BULL SHIT CUBED.

PROOF? The very same embedded systems used for Chemical process and Industrial factory production HAVE NOT LEAD TO ***ANY OTHER SHORTFALLS**. So the "R.C." BULL SHIT and that of "Dieoff" about Y2k can't be replaced by any new BULL SHIT about "the end of the Oil era".

The Sept. meeting will be anticipated by the traders. The posters here seem to forget you are at the "end of Contract life" trading and the short squeeze is too obvious. Heating Oil **MUST BE INVENTORIED** from now through Feb. Dealers/Disties/Jobbers must somehow start to inventory and the Refineries are building stocks now. Its not an option. But THE DRIVING SEASON IS OVER.

That will send PRICES DOWN YET AGAIN. However, as Venezuela pointed out, "We want to get paid now". SIMPLE. When the demand slackens again (it won't until Heating Oil supplies are built up), PRICES WILL GO DOWN AGAIN.



Twice when Crude peaked and all the Oil SPAMMERS hit his board I predicted that Oil would go down. OIL WENT DOWN. Then rose.

Now we have a supply short sqeeze of NEARBY CRUDE. You will see more dollars extracted for OPEC from the US and consumers.

THEN,,,,,oil will go down to where OPEC wants it: 22-28/BBL.

-- cpr (buytexas@swbell.net), August 18, 2000.


First of all this has nothing to do with Y2K, but everything to do with peak oil production. Wipe that egg off you face.

-- Cave Man (caves@are.us), August 18, 2000.

Heating oil hits seven month high

http://quote.bloomberg.com/fgcgi.cgi?ptitle=Bloomberg%20Energy&touch=1 &T=energy_news_front.ht&s=AOZ1xkxUSSGVhdGlu

-- Cave Man (caves@are.us), August 18, 2000.

Hard to believe, but even though crude oil has risen from $30 to $35 per barrel since CPR's prediction, he made this comment yesterday...


BS CUBED. OPEC IS JUST PLAYING WITH THE "AWL EXPERTS". As soon as they've sold enough oil at this high price, they'll LOWER THE BOOM ON ALL THE "EXPERTS". JUST LIKE BEFORE.

-- CPR (buytexas@swbell.net), September 11, 2000.


Monday and Tuesday after the OPEC traders have sold enough at 30, you will get another announcement and the price of crude will resume its downward trend.


-- cpr (buytexas@swbell.net), August 05, 2000.

-- The (Emperor's@new.clothes), September 12, 2000.

Thanks for reminding me of this thread, "The".

I think I'll start updating it daily!

Light crude - UP $1.51 to 35.14

Brent crude - UP $1.43 to 33.58

Crude price up more that $5.00 since I started this thread a month ago, and up big time today, ignoring the OPEC news. But we continue to hear the same thing, daily, several times a day, from good old cpr: ANY DAY NOW.

-- (here_we@go.again), September 12, 2000.

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