Oil Rises on U.S. Supply Forecast, Venezuela Blaze at Bloomberg. Isaac Set to Reach Hurricane Strength on Way to Louisiana (Bloomberg).
More than three-fourths of Gulf oil production shut down at Fuel Fix. Isaac’s latest path at Business Insider.
Yesterday oil fell when chatter began on a SPR release (Business Week). Commercial crude invetory levels are extremely flush; refined product inventory levels are light. Thus the whole thing is a joke…
Peak cheap oil is an incontrovertible fact at The Telegraph.
“Barclays Capital expects a “monster” effect this quarter as the crude market tightens by 2.4m barrels a day (bpd), with little extra supply in sight.
Goldman Sachs said the industry is chronically incapable of meeting global needs. “It is only a matter of time before inventories and OPEC spare capacity become effectively exhausted, requiring higher oil prices to restrain demand,” said its oil guru David Greely.”
Projected natural gas prices depend on shale gas resource economics at EIA. Experts Say US LNG Export Volumes Could be Limited at AOL Energy.
Video: Rick Rule on oil markets and printing: CNBC.
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JJ-was that a first for Rick on CNBC?
I believe Rick Rule has been doing occational CNBC interviews all summer. As you know, I think Rule is the sharpest of commentators and he is a resource investor.