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Global benchmark U.S. crude has risen by more than 30 percent this year to $127 a barrel, briefly rising above $135 last week.( Information about signal oil gas)
"That's the new fad," said the co-owner of Dearborn Auto Tech in Detroit. "I'd never seen it before gas got up this high."( Information about signal oil gas)
Americans getting an early start on the Memorial Day weekend found that gasoline prices again sprinted to a new record high overnight, reaching a national average above $3.83 a gallon. Some analysts predict gas will break past $4 as early as next week.( Information about signal oil gas)
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signal oil and gas = Artists who perform in Dubai expect to earn "twice as much" as they do in the United States or Europe, Ovesen said. He refused to disclose how much Bon Jovi walked away with after his performance for a crowd of 17,000 in Abu Dhabi. His company helped organize the concert in one of the most expensive hotels ever built, The Emirates Palace.
signal oil and gas = There are exceptions, of course. The Toyota Prius actually exceeds the 40 mpg standard that Bryan wanted by 2006.
signal oil and gas = Analysts said higher prices in countries such as Indonesia would ease demand for crude but only India and China could take the sting out of the oil markets.

"Volatility has nothing to do with the fundamentals. It has nothing to do with world demand," he said, stressing that a dropping dollar was driving prices higher.
Oil rose on Friday on the weak U.S. dollar and ongoing long-term supply concerns that briefly pushed oil to a peak over $135 this week.
Two weeks ago the US government listed polar bears as a threatened species owing to a drastic reduction in Arctic sea ice, but insisted the step did not mark a policy shift to attack global warming.
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All this got results. Average fuel economy for new cars and light trucks rose from 13.1 miles per gallon in 1975 to 22 mpg in 1987. Automakers cut the average weight of vehicles from 4,060 pounds to 3,221 pounds. Engine horsepower declined from 137 to a more thrifty 118.
Khelil said that he did not expect output to be increased, stressing that "current prices are not based on (traditional) supply and demand."
"If present trends continue, we could be heading for the first annual drop in gasoline consumption in some 17 years," said Edward Meir, an analyst at MF Global UK Ltd., in a research note.

Prices may rise as high as $3.90 on a national basis by this weekend, he said. Prices are already above $4 a gallon at many stations around the country, and are averaging more than $4 in California, New York and Illinois, among other states.( signal oil gas profile)
On Monday, OPEC President Chakib Khelil reiterated that the cartel would not be meeting earlier than its scheduled gathering in September to discuss rising prices, the website of the Libyan National Oil Corporation (NOC) reported.( signal oil gas profile)
"People have been saying that once prices hit $4.00, they are going to adjust their lifestyles and cutting back driving is one way they are doing it," he said.( signal oil gas profile)
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signal oil & gas co profile = "Purchases I'm making for our cars now are all driven by a preventative mentality," said Tony Farrell, a freelance writer in Richmond, Va., who has a 2001 minivan and a 20-year-old Honda Civic he had considered selling. "A year ago, I would have let it run ragged. Now I want that car in good working order because I want it to last."
signal oil & gas co profile = The oil and housing woes are felt most heavily by the middle and lower-middle classes. The very poor are less affected because they don't own cars or houses, while the well-off have a cushion of savings and spare income to help them ride out the storm. Those in between have no such buffer.
signal oil & gas co profile = With record oil prices near $130 per barrel, Gulf nations certainly have ample revenue now.

"It's a pretty price sensitive week for economic data," Pervan said. "The data we're seeing out of the U.S. at the moment looks pretty weak. You'd expect that trend to continue, pushing further down on the dollar."
While the USA snoozed through the 1990s and 2000s, I remember a few people trying to shake us awake.
But the EIA also offered a rare explanatory note on the Gulf Coast tanker problems. That could mean there will be a big jump in crude inventories in next week's report, analysts said. Gulf ports have closed many times in recent months due to fog, said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago.
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Expectations the dollar will continue to struggle has also made the market more attractive because a weak US currency makes dollar-commodities such as oil cheaper for foreign buyers.
Khelil said that he did not expect output to be increased, stressing that "current prices are not based on (traditional) supply and demand."
In morning trade Asian trade, New York's main oil futures contract, light sweet crude for July delivery, rose 26 cents to 131.07 dollars per barrel.

The only Southeast Asian member of the cartel has become a net oil importer and will not bother to renew its OPEC membership at the end of this year, Energy and Mineral Resources Minister Purnomo Yusgiantoro said.( signal oil and gas co articles)
The United States is the world's largest energy consumer in terms of total use, and fluctuations in demand there can have an outsized impact on international oil prices. Also, since Americans are particularly reliant on their cars dues to a lack of mass transport in all but a few cities and they have to drive longer distances to their jobs, their consumption of gasoline is closely watched.( signal oil and gas co articles)
The explosion, the cause of which remains unknown, occurred several kilometres (miles) from the Iranian border in the eastern Turkish province of Agri, governor Mehmet Cetin told the Anatolia news agency.( signal oil and gas co articles)
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signal oil and gas co articles = Investors also ignored continued strength in heating oil futures, which have over the last month helped send crude oil smashing through a string of new record highs. Distillate supplies worldwide are seen as strained due to strong demand for diesel from Europe and Asia.
signal oil and gas co articles = The tech-heavy Nasdaq composite slumped 0.95 percent to 2,492.26 points and the Standard & Poor's 500 index retreated 0.93 percent 1,413.40.
signal oil and gas co articles = With record oil prices near $130 per barrel, Gulf nations certainly have ample revenue now.

Al-Rasheed said the city has a price tag of $100 billion and will be the same size as Washington, DC. It will have six different zones, including ones for shipping, industry, finance, tourism, education and housing.
In other electronic trading, heating oil futures rose 7.89 cents to $3.9445 a gallon while gasoline prices rose 2.95 cents to $3.4255 a gallon. Natural gas futures rose 18.2 cents to $12.039 per 1,000 cubic feet.
"I think that the threat is that we do not want most of the investment coming from the oil wealth to be again real estate driven or just building cities," said el-Mallawany. "The Arab world has to go up the value-added chain."
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"Toyota is a small-car leader," says David Magee, author of How Toyota Became #1. "Anybody who knows Toyota knows they're going to plow everything they've got into the areas where they're strongest."
After being pummeled by senators over high oil and gasoline prices at a Senate hearing on Wednesday, they were summoned before the House Judiciary Committee on Thursday.
Right behind that is Toyota's strategy for a "plug in" hybrid with batteries that, like a cellphone's, will be rechargeable from an ordinary power outlet at home. Toyota says its first plug-in won't go on sale for several years, which would put it behind GM's Chevrolet Volt, due in 2010. GM has promised an ambitious set of features: a safe, reliable, mass-market plug-in that's rechargeable from an ordinary power outlet and can travel 40 miles on a single charge before a small engine kicks in. And it is planned to cost $30,000 or less, without requiring massive subsidies.

Analysts in a Reuters poll had forecast the stock level to be unchanged.( signal oil gas news)
The company said Statfjord is one of the oldest producing fields on the Norwegian continental shelf and the largest oil discovery in the North Sea.( signal oil gas news)
Investors were waiting for a batch of economic data due this week as well as speeches by Federal Reserve officials for fresh clues on the outlook for US interest rates.( signal oil gas news)
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Articles about signal oil gas company = "The German Ifo is the kind of news the market is looking for at the moment after yesterday's sell-off," said Mic Mills of tradindex.com.
Articles about signal oil gas company = Tightness in the oil market has made prices sensitive to a confluence of factors, including a weak US dollar, speculative funds, an unwillingness by oil-producers to raise production and geopolitical tensions, analysts said.
Articles about signal oil gas company = Petrobras, which recently passed Microsoft Corp. to become the world's sixth-largest company, has a 66 percent stake in the new offshore find, while Royal Dutch Shell PLC holds a 20 percent share and Portuguese oil company Galp Energia holds 14 percent.

London's Brent North Sea crude for July delivery was trading at 131.90 dollars a barrel, up 33 cents.
U.S. data released on Friday showed that highway miles driven in March fell 4.3 percent from a year earlier, the first March since the last major oil shock in 1979.
On Thursday, the Nigerian military said it had thwarted an attack on an oil facility belonging to Royal Dutch Shell, killing two assailants.
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The EIA said the decline was due to delays in tanker movements along the Gulf Coast that bit into imports.
India's oil minister, Murli Deora, said on Thursday that the government will take a decision on raising fuel prices in the next two to three days.
Gold has trekked higher for five straight sessions gaining 7 percent in the past week as crude's seemingly relentless drive higher adds to growing inflation fears and boosts demand for safe-haven assets like gold and silver. Precious metals are traditionally viewed as hedges against inflation because they're known for holding their value.

Investors shrugged off a number of events that could have sent oil prices higher, including news that crude oil production in Mexico fell 13 percent in April compared to the previous year, the temporary shutdown of a North Sea oil platform and the latest in a spate of oil-pipeline bombings in Nigeria.( Information about signal oil & gas co)
In other Nymex trading, heating oil futures fell 0.4 cent to $3.771 a gallon while gasoline prices fell 0.44 cent to $3.30 a gallon. Natural gas futures, meanwhile, rose 5 cents to $11.415 per 1,000 cubic feet.( Information about signal oil & gas co)
U.S. data released on Friday showed that highway miles driven in March fell 4.3 percent from a year earlier, the first March since the last major oil shock in 1979.( Information about signal oil & gas co)
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signal oil gas news = The guerrillas said the attack was "dedicated" to President Umaru Yar'Adua who is marking one year in office. They said the government has failed "to ensure peace, security and reconciliation in the Niger Delta region."
signal oil gas news = Its shares fell 32 cents to $58.46 in late morning trading.
signal oil gas news = "Up to now, we have seen that the international oil companies were responsible for bringing a big chunk of the oil to the markets. Now, in many cases, since existing reserves are declining, a big part of oil will need to come from national oil companies. And they have their own conditions, their own context."
The market took a breather after a run of feverish trading. Crude crossed 120 dollars a barrel for the first time only two and a half weeks ago.
It was not clear when Indonesia would formally leave the grouping, in which it has a paid up membership until the end of the year.
In Charlotte, N.C., gasoline at nearly $4 a gallon is cracking "the survivors," as credit counselor Bruce G. Hamlett calls them. They're the people who played by the rules and kept up their mortgage and utility payments even as neighbors gave up and moved away, leaving empty homes. Now, crazy prices at the pump are pushing even these survivors over the edge. "They're asking, 'Do I put gas in my car or do I pay this utility bill or do I pay the mortgage?'" says Hamlett, director of economic independence for Charlotte's United Family Services. "It's getting to the point where it's an impossible choice."
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StatoilHydro said the oil leak occurred during maintenance work on a pipe in one of the platform's three shafts and that oil was leaking from one or several storage cells. The storage cells hold 1.3 million barrels of oil, the company said.
Rep. Edward Markey, D-Mass., said he did not understand why President Bush is not releasing oil from the Strategic Petroleum Reserve to force down prices. "We have 700 million barrels ... that are ready to be deployed," said Markey.
Gold's surge has again put the metal within striking distance of the psychologically important $1,000 mark, first breached in March. But Nadler said it would likely take a major geopolitical event or financial crisis to push gold to that level.
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Signal Oil and GasGlobal benchmark U.S. crude has risen by more than 30 percent this year to $127 a barrel, briefly rising above $135 last week.( Information about signal oil gas)"That's the new fad,...
Posted by on Thu, 29 May 2008 11:56:00 GMT