Fires Push Oil Prices Past $60 Per Barrel

[Yo_Mama_Been_Loggin]

By EDITH BALAZS, Associated Press Writer
Fri Jul 29, 5:04 PM ET



Back-to-back refinery fires in Texas and Louisiana, as well as a North Sea oil field fire, worried oil traders on Friday, sending front-month crude futures to a close above $60 a barrel for the first time in more than two weeks.

Oil prices rose more than $2 a barrel over the past week, with traders concerned about everything from hurricanes in the Gulf of Mexico to the strength of energy demand around the world.

"These supply problems contributed to the rally," said oil analyst Andrew Lebow at Man Financial in New York.

Light, sweet crude for September delivery rose 63 cents to settle at $60.57 a barrel on the New York Mercantile Exchange. The last time the front-month Nymex oil futures contract settled above $60 was July 13.

http://news.yahoo.com/news?tmpl=story&cid=530&e=3&u=/ap/20050729/ap_on_bi_ge/oil_prices

[zoeb]

1. Just wait until the big bad president dumbass

"jawbones" the arabs...then we'll really see the prices go up!!!:puke:

[msongs]

2. more likely is passage of the new rape americans energy bill in congress

so the oil whores get the big bucks for oil and the big bucks for energy company welfare from their political stooges in the congress.

Msongs
www.msongs.com/political-shirts.htm

[achtung_circus]

3. I'm a little confused.

How does a refinery fire affect crude supply and price.

I can see it affecting retail product supply, but wouldn't a reduction in refinery capacity equal a reduction in crude demand.

[pitohui]

7. they are price-gouging

all the fire did at murphy oil was hold up traffic a couple hours

it is so not a big deal

this happens semi-regularly there

any excuse is being seized upon to inflate price

[Burried News]

13. I was thinking the same thing. Maybe Alan Greenspam can

explain it to us next week. It is going to be hard to keep a positive attitude until then as I drop $50 to fill up next week.
Now that all the gas pumps take plastic I don't think people feel this the way they would if we were handing over dollar bills for a fill up.

[AuntiBush]

14. It's Part of the Nightmare-Reign.

When you're feeling confused, and wondering why "you" don't know if "you're" coming or going with this gang we call our great leaders, it's because "they" don't know if they're coming or going.

Obviously, they like us confused. Think about it.

[FloridaPat]

16. Real interesting huh. You would think the prices would drop with the extra

oil around.

[struggle4progress]

19. Now, see, that's why yer not a oil company executive.

If the supply goes up, there's more oil to move, so it costs more to move it, and the price has to go up. On the other hand, if the supply goes down, then to keep the economics in balance, then of course price has to go up. Ya see? Of course, it's even more complicated when you add in all the technical refinery stuff.

[Demeter]

4. Sounds Like Oilman's Lightning, To Me

Far too convenient, don't you think?

[SpiralHawk]

5. BushCo and Oil Republican Rejoice

They are so frikking rich now, smirkily giving the FINGER to the people of the United States of America as they rob the people blind.

[pitohui]

6. murphy oil fire (la) not really that big a deal

they need to take a chill pill

[Donailin]

8. they'll take the pill right after they make a billion or so

in profits from the latest hike.

Fucking greedy bastards.

[pinniped]

9. Yet the oil companies are consistently posting record profits.

Amazing what a refinery fire could do.

[stepnw1f]

10. They Are Modifying Prices To Break Our Backs

Little by little, a barrel of oil will reach $100, placing a major strain on public needs. What have the Neo-Nazis under-funded? Think about it...

[NuttyFluffers]

11. YAY! oh wait, that's bad.

there's just never any good news in Bush America. 3 more years of this shit is gonna be excruciating.

i don't remember growing up in america so many refinery fires in a year. but then, it's not like i keep track on stuff like that. probably happened all the time but since not enough people blew up and oil was cheap the media didn't care. just curious.

[cliss]

12. This seems just a little strange.....

Back to back fires in Texas & Louisiana, and the North Sea.

I guess I could understand the southern states having to deal with fires, because it's blazin hot down there. But the North Sea? And simultaneously?

Does anyone else think this is strange, or am I the only one?

Now, I know the Iraqi pipeline has been hit numerous time. At the rate they're blowing it up, Halliburton should be lucky if it gets 1 barrel per day.

Now watch them spin this. As the price of gas shoots up, what can they say?

[leesa]

15. Next it'll be locusts pushing the price of oil higher...

[Chicago Democrat]

17. India also had oil platform disaster in the Arabian Sea I believe...

per bbc

[The_Casual_Observer]

18. What will be the excuse for $70 oil?

[4dsc]

23. good point

I wonder at what price will american's and DU'er finally wake up to the fact that cheap oil is a thing of the past and the future is not to bright!

At what point will all the sheeple realize our future is with less oil and our country and society will be in a world of hurt because of less!!

Its called PEAK OIL people, get use to it, its going to be a bumpy ride!

[salin]

20. the person before me at a pump, paid $54 at that pump.

I drive a decent mileage sedan (and hope to get a new or used Prius in the next year) - such that my tank couldn't hold that much gas - and thus it is hard to get my brain around paying that much to fill up the gas tank. Yikes!

[Yo_Mama_Been_Loggin]

21. Where do you live?

I mean what state.

I live in Washington State and it's cost me about $45 to fill up a 20 gallon tank recently. Thank God I ride my bike most of the time.

What kind of vehicle did the person who paid $54 drive?

[nadinbrzezinski]

22. ok folks remember that FX program?

Why am I seing paralels to a made for tv movie?

Just asking by the way

[BiggJawn]

24. Ice Cream machine breaks down on drilling platform. Prices rise $3

Roughneck gets a hangnail. Prices rise $2.

Oil company exec's mistress gets knocked up, prices rise $7.

Someone ate all the jelly doughnuts at the last EXXON staff meeting, prices rise $1....

[mbperrin]

25. Now you're onto something!

;)