posted
Shoulda swung this when I had the chance... now I'm seeing red .... But I suppose red is festive, since it's xmas and all....
Posts: 249 | From: NYC | Registered: Sep 2005
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posted
Japan to End Release of Strategic Reserves Tuesday December 27, 7:42 am ET Japan to End Release of Strategic Oil Reserves to U.S. on Jan. 4, Report Says
TOKYO (AP) -- Japan will end its release of oil reserves to the United States next week, a news report quoted the economy minister as saying Tuesday. Japan has been shipping oil from its reserves under a plan brokered by the International Energy Agency to temper rising prices after Hurricane Katrina struck U.S. oil refineries.
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"The impact of hurricane damage on the global oil market has been mitigated," Japan's Kyodo News quoted the Economy, Trade and Industry Minister Toshihiro Nikai as telling reporters. "Therefore, we find it appropriate to terminate Japan's oil release on Jan. 4."
The Paris-based IEA announced in September that its 26 members, including Japan, would draw on 2 million barrels a day of oil to help offset the loss of output and refining capacity in the United States caused by Katrina and restore confidence in the market.
Under the release plan, Japan has kept an emergency stockpile equivalent to 67 days of imports over the coming 30-day period. Japan normally keeps a 70-day minimum. The three-day difference is equal to about 10 million barrels.
This is the third time Japan has tapped emergency reserves, after an oil crisis in 1979 and the Gulf War in 1991.
The price of crude is 19 percent below its all-time high of $70.85 on Aug. 30, one day after Hurricane Katrina made landfall.
The price for light, sweet crude for February delivery slipped 82 cents to $57.60 a barrel on the New York Mercantile Exchange in Asian electronic trading midmorning Tuesday in Singapore.
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
Wait to see oil prices after January 4th when Japan stops selling thier reserves into the market
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
I do have a feeling that january will be the beginning od our coming out. I can feel a whole bunch of pr's comong out it fits the time table that the company has led us to believe. imho
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
For some reason you are right bluestater lots going for it and building fast not two many believe I guess we will have our day soon imho .
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
Well, seeing that this started at around .0215 or .022 for most, I'd say that, "na-na-na-na-nooo-noooo"!, isn't due for another couple of pennies. It's still just a "nooo-noooo"!, for now. Hope you can say it soon though!
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
Looks like buys coming in MMs might have figured they got all the shares they need from the weak hands or they could get. Now they might have to go up to get more . imho We will see
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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quote:Originally posted by will: Well, seeing that this started at around .0215 or .022 for most, I'd say that, "na-na-na-na-nooo-noooo"!, isn't due for another couple of pennies. It's still just a "nooo-noooo"!, for now. Hope you can say it soon though!
ROFL......Thanks will!
-------------------- Lil,
Dont LOSE more than you can afford to invest....LOL
I'm buying low and selling into the run... Posts: 8024 | From: Joisey....see attitude above | Registered: Jan 2004
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