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Crude Pushes Higher, Much Gulf Production Remains Shut In

Source: http://feeds.feedburner.com/~r/ContrarianProfits/~3/403982999/5759
Posted on Friday, September 26th, 2008 | In Market Commentary

Contributed by: Doug Casey (http://www.contrarianprofits.com) -

In the energy market Thursday, crude for November delivery pushed higher, closing at $108.02/barrel, up $2.29. October reformulated gasoline rose 10.3 cents, to $2.6973/gallon.

Again, the big bailout was front and center. It “is certainly driving the market higher” with the expectation that the economy will do better, said Mark Waggoner, president of Excel Futures. “Once the initiative is passed, however, the market should revert lower to $98-$100 levels,” or even less, he added.

Also factoring into the rally were supply concerns from the disruptions to energy production and refining in the Gulf of Mexico region, caused by Hurricanes Gustav and Ike.

As of Wednesday, 59.3% of natural-gas production and 56.4% of oil production in the Gulf remained shut-in due to the storms, according to the U.S. Minerals Management Service.

Source: Crude pushes higher – Much Gulf production remains shut in.

Last 5 posts by Doug Casey

Resource Stock Roundup:Monday, July 27, 2009 - July 27th, 2009
Base Metals Higher - July 27th, 2009
Crude Continues to Climb - July 27th, 2009
Dollar Moves Lower - July 27th, 2009
Gold Pushes Through $950 - July 27th, 2009

Tags for this Post:
cents, contrarian profits, energy market, energy production, Excel Futures, gulf of mexico, Mark Waggoner, Market Commentary, natural gas production, oil production, U.S. Minerals Management Service, USD

About Doug Casey (http://www.contrarianprofits.com)

Doug Casey is a contrarian investor, sought-after public speaker and author of several books. His work "Crisis Investing" held the position of # 1 bestseller on the New York Times list for 26 consecutive weeks. Doug's unusual views on the economy - and just about everything else - have gained a huge following in the investment community, and it certainly helps that his stock recommendations of undervalued junior exploration companies have made his subscribers millions. Now in its 27th year, Doug's monthly newsletter, the International Speculator, is one of the most established and esteemed publications on gold, silver and other natural resource investments. Together with the Casey Energy Speculator, it covers a broad range of carefully selected stocks with the very real potential of double- and triple-digit returns within 12 to 24 months.

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Crude Pushes Higher, Much Gulf Production Remains Shut In

Source: http://feeds.feedburner.com/~r/ContrarianProfits/~3/403982999/5759
Posted on Friday, September 26th, 2008 | In Market Commentary

Contributed by: Doug Casey (http://www.contrarianprofits.com) -

In the energy market Thursday, crude for November delivery pushed higher, closing at $108.02/barrel, up $2.29. October reformulated gasoline rose 10.3 cents, to $2.6973/gallon.

Again, the big bailout was front and center. It “is certainly driving the market higher” with the expectation that the economy will do better, said Mark Waggoner, president of Excel Futures. “Once the initiative is passed, however, the market should revert lower to $98-$100 levels,” or even less, he added.

Also factoring into the rally were supply concerns from the disruptions to energy production and refining in the Gulf of Mexico region, caused by Hurricanes Gustav and Ike.

As of Wednesday, 59.3% of natural-gas production and 56.4% of oil production in the Gulf remained shut-in due to the storms, according to the U.S. Minerals Management Service.

Source: Crude pushes higher – Much Gulf production remains shut in.

Last 5 posts by Doug Casey

Resource Stock Roundup:Monday, July 27, 2009 - July 27th, 2009
Base Metals Higher - July 27th, 2009
Crude Continues to Climb - July 27th, 2009
Dollar Moves Lower - July 27th, 2009
Gold Pushes Through $950 - July 27th, 2009

Tags for this Post:
cents, contrarian profits, energy market, energy production, Excel Futures, gulf of mexico, Mark Waggoner, Market Commentary, natural gas production, oil production, U.S. Minerals Management Service, USD

About Doug Casey (http://www.contrarianprofits.com)

Doug Casey is a contrarian investor, sought-after public speaker and author of several books. His work "Crisis Investing" held the position of # 1 bestseller on the New York Times list for 26 consecutive weeks. Doug's unusual views on the economy - and just about everything else - have gained a huge following in the investment community, and it certainly helps that his stock recommendations of undervalued junior exploration companies have made his subscribers millions. Now in its 27th year, Doug's monthly newsletter, the International Speculator, is one of the most established and esteemed publications on gold, silver and other natural resource investments. Together with the Casey Energy Speculator, it covers a broad range of carefully selected stocks with the very real potential of double- and triple-digit returns within 12 to 24 months.

Leave a Reply

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