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Cameron Hanover
February 28 2011, 04:10
Well, that was an “interesting” week – in the Confucian sense of the word (he famously cursed the ambitious by wishing them “interesting lives”). Crude oil gained $11.68 a barrel, heating oil prices were up 21.80 cents a gallon and gasoline prices added 18.82 cents a gallon, after the truncated (four-day) trading week had come to a close. [More]

February 25 2011, 04:33
Events in Libya took a turn towards the surreal on Thursday, with observers talking about Khadafy’s last stand as one that includes the possibility of “genocide,” chemical weapons use, US or UN or Arab League intervention, and even the possibility of Khadafy followers setting oil wells on fire. [More]

February 24 2011, 04:24
On Wednesday, oil prices surged for a second consecutive day, ignoring overbought pressures and resistance. Refined products led the way higher, with both heating oil and gasoline up more than 11 cents a gallon and Nymex crude oil hit triple digits before profit-taking pulled them back down again. [More]

February 23 2011, 04:09
On Tuesday, oil prices came in sharply higher in reaction to unrest in the Middle East as it became even more pronounced in Libya. It was really two days’ worth of trading, so a good part of the gain would have come on Monday had markets in the United States been open. [More]

February 22 2011, 04:25
The week ended with Egypt agreeing to allow Iranian warships to pass through the Suez Canal and with protests or demonstrations taking place in Yemen, Egypt, Libya, Bahrain, and Madison, Wisconsin. The last one was slightly different … but it was peculiar to watch newscasts jump from demonstration to protest and end up in mid-America. [More]

February 18 2011, 04:25
On Thursday, traders were looking ahead to a three-day weekend (with markets closed on Monday for Presidents’ Day), the expiration of the March crude oil contract on the Nymex and a continuing story in the Middle East and North Africa that seems to start every morning with the opening of a fresh chapter. [More]

February 17 2011, 04:17
On Wednesday, Iranian naval units were reportedly preparing to enter the Suez Canal, on their way to Syria, and that brought buying into oil markets. [More]

February 16 2011, 04:12
Nymex crude oil prices, along with Brent and refined products in the US, tried to advance on Tuesday morning, with buyers spurred by the spread of the Egyptian protest to Bahrain and other countries. [More]

February 15 2011, 04:07
Will the real crude oil please stand up! While Brent soared $2.14 to finish at a new two-year high, Nymex light, sweet crude fell 77 cents to end the day at a new two-month low. It would not be so bad if they were not such similar crudes. [More]

February 14 2011, 03:51
Well, that seemed to ‘end’ quickly. President Hosni Mubarak resigned Friday afternoon, it was announced tersely by Vice President Suleiman. He essentially turned over power to the military. [More]