Oil Surges on Storm, Stock Build Concern

[joefree1]

Oil Surges on Storm, Stock Build Concern

By Iain Pocock
LONDON (Reuters) - World oil prices surged a dollar on Friday on worries that the ongoing storm season in the U.S. Gulf would continue to hamper energy production and imports, delaying vital pre-winter stock building.
Fund buying ahead of the weekend and renewed concern about the fate of Russian oil firm Yukos added to bullish sentiment.
edit ...
"The loss of production over this period, coupled with the disruption to imports offloading in the Gulf of Mexico being the key factors," they wrote in a report.
STOCKS LOW, REFINING TIGHT
A string of storms in the last month has reduced U.S. crude inventories in the past month. The Energy Department on Wednesday said crude stocks had fallen last week for the seventh week in a row, at a time when inventories should start to build.

more ...
http://olympics.reuters.com/newsArticle.jhtml?type=businessNews&storyID=6266735

Say, how many lives to the gallon does your hummer get?

[Roland99]

1. And gas shot up almost 30 cents/gallon yesterday!

[Goldmund]

2. Where?

[Roland99]

4. Louisville, KY - went from $1.67 -> $1.95

That marks about the 2nd highest I've ever seen 87 octane here. We briefly topped $2 earlier this year.

[Goldmund]

5. Holy shyte

I live in NY, I haven't even seen the gas prices today... I hope they didn't similarly rocket, since they were already like $2.25 for regular.

[htuttle]

3. Two wheels good, four wheels bad

54 mph. 105 mpg.

[The_Casual_Observer]

6. All the while OPEC trumpets more production, lower prices

Are they keeping the prices at the pump artificially low until after the election?

[donsu]

7. gas station in Key West has all 3 types of gas over $2.00 a gallon

I noticed this yesterday.