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$4.00 for Memorial day weekend....I'll bet some money on it.
i just hope i live long enough to fight in the coming civil war
Teh end of the Mayan calendar, lots of spooky shit surrounded with that.The end of the old and birth of the new will begin on Dec. 21, 2012.
Oil jumps after reports on shots toward Iranian boat
Supply concerns in Nigeria, U.K. also boost futures prices
SAN FRANCISCO (MarketWatch) -- Crude-oil futures spiked more than $3 a barrel in mid-morning trading on Friday after news reports that U.S. military force fired at an Iranian boat.
Crude was trading higher before the news but was up less than $3, with prices underpinned by concerns about oil supply disruptions in Nigeria and the United Kingdom
Crude oil for June delivery was last up $3.04, or 2.6%, at $119.10 a barrel on the New York Mercantile Exchange. It rose to an intraday high of $119.50 earlier, 40 cents away from the front-month contract's historic high.
A ship contracted by the U.S Military Sealift Command fired at least one shot toward an Iranian boat, Reuters reported, citing an unnamed U.S. defense official. More details were not yet available.
"There was an immediate panic in oil because traders were very nervous," said Phil Flynn, vice president of futures brokerage Alaron Trading. "It seems now the market is easing those concerns because it seems to be an isolated incident."
"But issues that developed in Nigeria and U.K. are still pushing oil up," he added.
Nigeria
In Nigeria, supply concerns flared anew after a rebel group claimed Friday another oil pipeline bombing. The Movement for the Emancipation of the Niger Delta, or MEND, said its fighters hit a pipeline late Thursday in the southern Rivers State, the Associated Press reported.
That brings to four the number of pipelines the group has reportedly blown up in the past week, the AP said. MEND said that it hit a Royal Dutch Shell Plc (RDSA: royal dutch shell plc spons adr a
News, chart, profile, morejoint venture pipeline.
Separately, the strike by workers at Mobil Producing Nigeria Unlimited, or MPN, entered its second day Friday without further talks, a senior union official said. Read more.
"No talks are going on, we are halfway through shutting down oil production at Mobil," Sola Olumoroti George, Mobil branch chairman of the white-collar Petroleum and Natural Gas Senior Staff Association of Nigeria, or Pengassan, told Dow Jones Newswires Friday.
George said production couldn't be totally shut down at midnight Wednesday when the strike began because the process has to be gradual.
MPN, a subsidiary of ExxonMobil Corp. "The UK situation is another reason why people don't want to be short right now," Flynn said. "You took a market that was prepared to correct because of the dollar fundamentals changing, but is being brought up by disruptions to supply."
BP PLC could begin shutting down its 700,000 barrel a day Forties Pipeline System, or FPS, in the North Sea as early as Friday evening if crucial utilities are cut off ahead of a refinery strike, the company said Friday. Read more.
Ineos PLC's 210,000-barrel-a-day Grangemouth oil refinery in Scotland is running at 10% and is set to close by Saturday ahead of a planned 48-hour strike Sunday, Ineos said earlier Friday. The FPS relies on steam and power generated at the plant.
"Preparations have begun for the shutdown of the FPS this weekend," said a BP spokeswoman in Aberdeen.
"We expect that those utilities (from Grangemouth) will no longer be available from some time late on Saturday as a result of the industrial action...as a result we will be required to begin shutting down" 24 hours prior to the shutoff of electricity and steam, the spokeswoman said.
Edward Meir, an analyst at MF Global, said: "Despite the potential seriousness of the upcoming U.K. work action, we would not to be buying into the market here."
"We believe that there will be tremendous pressure on the two sides to settle, and even if they don't, these kinds of strikes tend to be short-lived affairs," he said.
Another factor to consider is "the renewed vigor the dollar seems to be showing, something we believe will last at least until the Fed decision is out," Meir said.
In currency trading, the euro continued its retreat, extending losses on concerns the European economy is showing early signs of a slowdown. The dollar index, which measures the U.S. currency against a basket of major currencies, gained 0.3% to 72.79. See Currencies.
Also on the Nymex, June reformulated gasoline gained 3 cents to $3.04 a gallon and June heating oil rose 3 cents to $3.27 a gallon. June natural gas futures rallied 14 cents to $11.08 per million British thermal units.
yeah, it is really getting to me. everything cost more, but i'm not getting paid more. this shit is going to drastically change my life.All this is really getting to you, just hide out in your closet with the spiders until everything gets better.
i just hope i live long enough to fight in the coming civil war
yeah, it is really getting to me. everything cost more, but i'm not getting paid more. this shit is going to drastically change my life.
i'm in for the funi just hope i live long enough to fight in the coming civil war
i'll start a mercenary group and fight for the highest bidder.i'm in for the fun
i'll start a mercenary group and fight for the highest bidder.
taking on new members now.
i'm #1.
doneill take the 5 star general spot.
I need hired guns, especially at the start... Most of the 'left' (I hate the delineation but you have to get the idea across somehow) folks in the country are wusses that hate guns. When the crap hits the fan they'll change their tune though!
But hey, the dollar will be worthless, food and commodities will be the currency. And those hippies can grow some mean vegetables!