[frankthetank]

OH... and MSP was below zero and Chicago went down to 0F last night... Parts of Wisconsin were near -30F... Someone needs to inform that guy that winter HAS BEGUN!

[Zardoz]

$this->bbcode_second_pass_quote('DantesPeak', '.')..oil supplies can't continually keep dropping at this rate for another year - otherwise refining operations would be disrupted.

[vision-master]

$this->bbcode_second_pass_quote('frankthetank', 'O')H... and MSP was below zero and Chicago went down to 0F last night... Parts of Wisconsin were near -30F... Someone needs to inform that guy that winter HAS BEGUN!

[Armageddon]

I thought they were calling for a warmer than normal winter year due to La nino ?

[DantesPeak]

$this->bbcode_second_pass_quote('Armageddon', 'I') thought they were calling for a warmer than normal winter year due to La nino ?

[frankthetank]

$87 the new bottom? Last year it was early FEB when we hit the low for gasoline prices ($2) here. Still stuck @ 3 right now... Doubt we get back there!

My comment about it not becoming interesting until next summer is based on this weather. Zombies do NOT Like cold weather. Subzero temps has been proven to deter zombies. Warm weather on the other hand...

Heres a tip about long range forecasting. Your guess is as good as mine! Its funny, a pro met from AccuWX and the Canadian weather service (CMC) have roughly opposite forecasts this winter for roughly the same given area...

[lowem]

I was going back to the chart of crude support levels I had put up earlier, which looked to be around the $85, $78, and just-below-$70 levels. It dropped as low as $85.82 before vaulting right up over $90 on the mortgage plan and inventory thing.

It looks a little double-toppish, but I'd suppose I could also argue it's moving along fine on an up channel. Anyway, so much for technical analysis.

Welcome back to $90 oil.

[Eli]

Weather forecasting is a very incomplete science, meteorologists are doing good when they are able to predict the weather 3 days from now. The longer the range in the forecast the more likely it is to be 100% wrong.

[thor]

So how's the weather in North America, are blizzards developing?

[Leanan]

Some areas of the midwest got 3" accumulations of ice. Massive power outages due to falling trees, etc.

But probably of more interest here...the Houston Ship Channel is closed again, due to fog.

Oil rises on lower dollar, Fed view

$this->bbcode_second_pass_quote('', 'P')rices were also supported by the temporary closure due to fog of the Houston ship channel and a separate channel that supplies refineries in Beaumont and Port Arthur, Texas, with oil, according to Dow Jones Newswires. It was unclear how long the waterways would be closed.

[nth]

WSJ paid site

Sweet Crude St James is at $93.
Bonny Light is at $91
WT Sour is at $86
Ural is at $85

The widening price gap between sour and sweet. This means we are short on sweet crude oil.

[frankthetank]

Time to pull down my pants and spank myself.

I really thought oil was heading back down to the $70's... Damn.

[gnm]

Ouch, Up 10.45 cents already on RBOB and heating oil is going stratospheric!

-G

[Ferretlover]

At 1:24 pm Central Time:
oil $94.55
gas 2.41
N. Gas 7.407

Oil prices rise amid supply jitters. Traders eye U.S. inventory report
NEW YORK - Energy futures rose sharply Wednesday after the government reported unexpected declines in supplies of crude and heating oil last week.
Crude supplies fell 700,000 barrels during the week ended Dec. 7, according to a weekly inventory report from the Energy Department’s Energy Information Administration. That countered analyst expectations that oil supplies would rise by 100,000 barrels.
And supplies of distillates, which include heating oil and diesel fuel, fell 800,000 barrels; analysts had expected inventories to rise by 300,000 barrels. …
changes

[Chaparral]

YC-F8 rang the 61.8 Fibonacci bell in the low 94s and went on to hit 94.85 before giving up a dollar as fast as it gained it. Me thinks this was a blow off top to squeeze out all those pesky shorts. I just don't see enough other factors that would explain a day with nearly five and a half dollars of price movement. WTI nailed all three fib retracements in a single day. E-mini S&P futes behaved weirdly today as well. Lots of headfakes I guess.

[whereagles]

seems like the bull's alive again...

while bbl < 100 do
10 bucks up
5 bucks down
end do

[Andrew_S]

It just fell off a cliff from about 94.32 to about 87.84. Now at 89.29.
Anybody know why it fell?

[Tanada]

$this->bbcode_second_pass_quote('Andrew_S', 'I')t just fell off a cliff from about 94.32 to about 87.84. Now at 89.29.
Anybody know why it fell?

[DantesPeak]

$this->bbcode_second_pass_quote('Tanada', '')$this->bbcode_second_pass_quote('Andrew_S', 'I')t just fell off a cliff from about 94.32 to about 87.84. Now at 89.29.
Anybody know why it fell?

[Andrew_S]

$this->bbcode_second_pass_quote('Tanada', '')$this->bbcode_second_pass_quote('Andrew_S', 'I')t just fell off a cliff from about 94.32 to about 87.84. Now at 89.29.
Anybody know why it fell?