Oil - 2008 log

2008-09-09

Closed my long position, my oil trading account has blown up!

After hurricane Gustav had died, I took a long position at 110. EUR/USD and commodities continued to fall.

2008-08-01

USD gained against EUR.

US demand may fall on weak jobs data.

Iran deadline for uranium enrichment expansion is on Saturday, so tensions may increase.

2008-08-01 5min CLU8

2008-08-01 5min CLU8

2008-07-31

Prices spiked up before the open and started above 127. They fell quickly and closed at 124.

GDP figured released where lower than expected

2008-07-31 5min CLU8

2008-07-31 5min CLU8

2008-07-30

Weekly inventory report came out today. After reaching a low of $121 it jumped up after the report. The rally stalled at 123 (i took a short but luckily got out pretty soon after), but continued on to $127.

The report said US gas supplies were reduced

GS forecasts $149 oil and end of year.

2008-07-30 5min CLU8

2008-07-30 5min CLU8

2008-07-29

overnight the price gradually fell. and dropped $3 soon after opening. There was a late spike up to 123 but ended the day at $122.

2008-07-29 5minCLU8

2008-07-29 5minCLU8

2008-07-28

Militants in Nigeria sabotaged oil pipelines.

Iran now as 6000 centrifuges, but said they were willing to work with the US.

http://biz.yahoo.com/ap/080728/oil_prices.html

2008-07-28 5min CLU8

2008-07-28 5min CLU8

2008-07-18 to 2008-07-27

Oil continued to fall. I'm too scared to short anything so have not really been paying attention to it.

2008-07-18 to 2008-07-27 CL

2008-07-18 to 2008-07-27 CL

2008-07-17 Thursday

Another huge drop. It is back to $130. This should help the stock market.

2008-07-17 CL 5 min

2008-07-17 CL 5 min

2008-07-16 Wednesday

Increased inventory figures. it recovered $2 by end of day.

2008-07-16 CL 5 min

2008-07-16 CL 5 min

2008-07-15 Tuesday

Range was $10 on the drop on inventory figures.

2008-07-15 CL 5 min

2008-07-15 CL 5 min

2008-07-14 Monday

2008-07-14 CL 5 min

2008-07-14 CL 5 min

2008-07-11 Friday

Huge surge during the today. You'd think it had something to do with trying to crash the equities market

2008-07-14 CL 5 min

2008-07-14 CL 5 min

2008-07-10 Thursday

2008-07-10 CL 5 min

2008-07-10 CL 5 min

2008-07-09 Wednesday

Inventory figures came out today. very volatile.

2008-07-09 CL 5 min

2008-07-09 CL 5 min

2008-07-08 Tuesday

2008-07-08 CL 5 min

2008-07-08 CL 5 min

2008-07-07 Monday

Friday was 4th July holiday in the US.

EUR/USD was 156.5 throughout the day then rose to 157.5 between 17:00 and 18:00 London time.

2008-07-07 CL 5 min

2008-07-07 CL 5 min

At open it dropped from 142.80 to 140.40.

There was a spike down to under 140 in the middle of the day. It recovered though.

Near close there was a recovery back up to 143.40 but it settled back down at 141.50

Storm Bertha looks like it will miss oil wells.

Iran has well behaved over the weekend.

The SEP contract is trading at +0.65 over the AUG contract.

2008-07-03

Tomorrow is the 4th July holiday.

Bearish: EUR/USD 1.57

But it still closed higher! not as much volume in the closing minutes this time.

2008-07-03 CL 5 min

2008-07-03 CL 5 min

2008-07-02

Wednesday weekly report: Weekly Petroleum Status Report

Inventories fell by 2M barrels, which was more than the expected 1.2M. Note the action at 15:35 London time on the graph.

The US crude oil inventories were at 299.8M.

2008-07-02 CL 1 min

2008-07-02 CL 1 min

15 mins before closing, buyers stepped in. Volume was about 20K over 15 mins - so a little over 1K per min. Prices rose from 141.75 to 143.57

2008-07-02 CL 1 min Normal Hours

2008-07-02 CL 1 min Normal Hours

2008-07-01

2008-07-01 CL 5 min monthly

2008-07-01 CL 5 min monthly

Oil is trading above its $140 range.

2008-07-01 CL 1 min

2008-07-01 CL 1 min Oil Rises on IEA Supply Warning, Concern Israel May Attack Iran [Bloomberg]

EUR/USD is trading around 1.58 today.

Factors up: reports on spare capacity.

Factors down: USD bounced up against the EUR.