Fed Day Oil

Oil Trades Near Two-Week Low on Manufacturing Slowdown at Bloomberg.

OPEC oil output drops as sanctions hit Iran at Globe and Mail.

“Majority of Executives See Energy Independence Achievable Within 15 Years” and “Many see another oil shock by the end of 2013” by Forbes on Scribd

“more eye-popping figures out of the Williston Basin”  Platts.

Investors ought to be discriminating when chasing shale plays.  The Monterey in California has yet to live up to the hype:  AP.

U.S. imports by country:  EIA.

Shale natural gas continues to see costs decline while traditional LNG costs rise.  I can not fathom a $37 billion dollar facility.  Mining Weekly.

Seems all of BP’s business units are struggling:  Platts.  Analyst comments at the WSJ.

“Canadian Oil Sands Ltd. cut its production outlook when it reported lower-than-forecast second quarter earnings last week, but at least one analyst thinks the company’s targets still look ambitious.”  Financial Post

Be careful out there; today will be a tale of two tapes.