Sunday, March 30, 2008


















Expect crude oil to remain range bound between $100 and $110 a barrel as the evolving factors of supply disruptions, global economic uncertainty, and a weakening US dollar continue to create volatility in the energy markets.

Thursday, March 27, 2008

Chesapeake Energy Corporation Announces Pricing of Common Stock Offering

Chesapeake Energy Corporation (NYSE:CHK) today announced that it has priced a public offering of 20 million shares of its common stock at $45.75 per share. The company has also granted the underwriters a 30-day option to purchase a maximum of three million additional shares of its common stock. Chesapeake expects the issuance and delivery of the shares to occur on April 2, 2008, subject to customary closing conditions.
Continued,link

Crude prices continued to surge on Thursday with light, sweet crude oil for May delivery gaining $1.68 to close at $107.58 a barrel.

Wednesday, March 26, 2008

Petroleum Inventory Report 3-26-08

Crude -unchanged
Gasoline down 3.3 million barrels
Distillates down 2.2 million barrels
Refinery Utilization down 1.6% to 82.2%

Monday, March 24, 2008

USD Strength Pressures Crude Prices


A stronger US Dollar is continuing to pressure crude oil prices. Light sweet crude for May delivery fell 98 cents, to $100.86 per barrel in Monday's NYMEX trading. The next key level of support for West Texas Intermediate Crude is the 50 day moving average of $96.97

Friday, March 21, 2008


Oil prices pulled back considerably this week. The next levels of technical support are $100 and the 50 day moving average of $96.83.

Wednesday, March 19, 2008

Petroleum Inventory Report 3-19-08

Crude up 200,000 barrels
Gasoline down 3.5 million barrels
Distillates down 2.9 million barrels
Refinery Utilization down 1.2% to 83.8%

Saturday, March 15, 2008

Crude Oil Stages Record Run


Light, sweet crude for April delivery on the New York Mercantile Exchange dropped 29 cents to $110.04. The contract set a record closing price of $110.33 on Thursday.

Wednesday, March 12, 2008

Petroleum Inventory Report 3-12-08

Crude up 6.2 million barrels
Gasoline up 1.7 million barrels
Distillates down 1.2 million barrels
Refinery Utilization down .09%% to 85%

Wednesday, March 05, 2008

Petroleum Inventory Report 3-05-08

Crude down 3.1 million barrels
Gasoline up 1.7 million barrels
Distillates down 2.4 million barrels
Refinery Utilization up 1.2% to 85.9%