NYMEX Light Sweet Crude $61.02 IPE Brent $58.98 NYMEX Natural Gas $11.223
It seems Meteor Blades won the bet on 2005 endyear prices! In the long run, we're all dead. John Maynard Keynes
Oil Rises, Gasoline Jumps to 2-Month High, on Motor-Fuel Supply Dec. 30 (Bloomberg) -- Crude oil rose and gasoline surged to a two-month high on concern that U.S. supplies of the motor fuel will be insufficient to meet demand next year. ``Gasoline has led us higher this week and that should continue to be the case,'' said James Ritterbusch, president of Ritterbusch and Associates, a Galena, Illinois-based researcher. ``There is a small supply deficit, a lot of refineries have scheduled maintenance early next year and imports are beginning to trail off. The gasoline market is going to shine in 2006.'' (...) Crude oil for February delivery rose 72 cents, or 1.2 percent, to $61.04 a barrel on the New York Mercantile Exchange, the highest close since Dec. 13. Prices climbed 4.5 percent this week. (...) Oil in New York averaged $56.70 this year, 37 percent more than in 2004 and the highest since the contract was introduced in 1983. Oil analysts in a Bloomberg survey had predicted prices would average $40.33 in 2005. Futures reached a record $70.85 a barrel on Aug. 30, the day after Hurricane Katrina hit Louisiana and Mississippi. Prices are 38 percent higher than a year ago. ``Prices went a lot higher than most of us expected a year ago,'' said Jason Schenker, an economist at Wachovia Corp. in Charlotte, North Carolina. ``The factors that caused prices to surge aren't likely to go away next year. The volatility of the market may even increase.'' New York oil futures will average $60 a barrel in the first quarter of 2006, according to the median forecast of 25 analysts surveyed by Bloomberg. Prices will average $58 in all of 2006, the survey shows.
Dec. 30 (Bloomberg) -- Crude oil rose and gasoline surged to a two-month high on concern that U.S. supplies of the motor fuel will be insufficient to meet demand next year.
``Gasoline has led us higher this week and that should continue to be the case,'' said James Ritterbusch, president of Ritterbusch and Associates, a Galena, Illinois-based researcher. ``There is a small supply deficit, a lot of refineries have scheduled maintenance early next year and imports are beginning to trail off. The gasoline market is going to shine in 2006.''
(...)
Crude oil for February delivery rose 72 cents, or 1.2 percent, to $61.04 a barrel on the New York Mercantile Exchange, the highest close since Dec. 13. Prices climbed 4.5 percent this week.
Oil in New York averaged $56.70 this year, 37 percent more than in 2004 and the highest since the contract was introduced in 1983. Oil analysts in a Bloomberg survey had predicted prices would average $40.33 in 2005. Futures reached a record $70.85 a barrel on Aug. 30, the day after Hurricane Katrina hit Louisiana and Mississippi. Prices are 38 percent higher than a year ago.
``Prices went a lot higher than most of us expected a year ago,'' said Jason Schenker, an economist at Wachovia Corp. in Charlotte, North Carolina. ``The factors that caused prices to surge aren't likely to go away next year. The volatility of the market may even increase.''
New York oil futures will average $60 a barrel in the first quarter of 2006, according to the median forecast of 25 analysts surveyed by Bloomberg. Prices will average $58 in all of 2006, the survey shows.
