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Market Journal 2006 P2

  • 08/07/2006 -- Ethanol imported to meet demand
    US demand for ethanol is outstripping supply and raising imports of the product.
  • 07/31/2006 -- Heat lifts US natural gas prices
    Natural gas futures prices escalated to a 5-week high July 26, peaking at $6.90/MMbtu in intraday trading on the New York Mercantile Exchange before closing at $6.89/MMbtu, up 47.8¢ for the day.
  • 07/17/2006 -- Israeli incursion boosts oil prices
    Crude prices soared to record highs above $78/bbl July 14 after Hezbollah raids into Israel triggered an Israeli military incursion into southern Lebanon earlier that week.
  • 07/10/2006 -- Crude futures top $75/bbl
    The front-month crude contract jumped to record highs above $75/bbl as the New York market reopened July 5 after the US Independence Day holiday.
  • 06/26/2006 -- Crude oil price volatility misleading
    Waffling prices seemed unusually volatile in crude futures markets in the second quarter when actually "the exact reverse is true," said Paul Horsnell with Barclays Capital Inc., London.
  • 06/19/2006 -- IEA raises quarterly demand estimate
    The International Energy Agency recently raised its projected growth of world demand for oil products by 160,000 b/d in the second quarter, with expected total demand growth "broadly unchanged" at 1.24 million b/d for 2006 as a whole.
  • 06/16/2006 -- Low-sulfur diesel part of US inventory rise
    US inventories of distillate fuel rose by 1.8 million bbl to 120.7 million bbl in the week ended June 2, with a large increase in ultralow-sulfur diesel fuel.
  • 06/05/2006 -- June starts with busy market day
    June began with a busy day on oil and gas markets.
  • 05/26/2006 -- Crude prices seesaw
    Crude prices shot past $71/bbl May 23 with predictions of another strong hurricane season, then fell below $70/bbl in the next session.
  • 05/15/2006 -- Soft demand cuts energy prices
    Two reports of reduced demand undercut energy prices on May 12.
  • 05/08/2006 -- Political, financial problems batter markets
    The June crude contract climbed above $70/bbl May 5 in New York as the US, UK, and France pushed the United Nations Security Council for a resolution demanding Iran quit enriching uranium.
  • 05/01/2006 -- Iran, ethanol roil energy prices
    After falling during four consecutive sessions, crude futures prices rebounded above $72/bbl during intraday trading Apr. 28 in the New York market.
  • 04/24/2006 -- Ethanol switch raises prices
    Crude futures prices shot up 19% from early March through late April, with the June contract for benchmark US light, sweet crudes closing at a record $75.17/bbl on Apr. 21.
  • 04/20/2006 -- IEA lifts 2004, 2005 demand estimates
    The International Energy Agency increased its 2004 and 2005 estimates of world oil demand by 300,000 b/d due to growth in the Middle East and Asia.
  • 04/10/2006 -- 'De facto' cut in OPEC output noted
    OPEC already has made a "de facto" production cut of nearly 1 million b/d over the past several months, an oil analyst says.
  • 03/31/2006 -- US inventory comfort zone questioned
    A Swiss firm says the US needs more crude in storage now than it did the last time inventories were at current levels.
  • 03/13/2006 -- Natural gas prices spiral down
    With the US heating season officially expiring at the end of March, natural gas prices continued spiraling down earlier this month.
  • 02/27/2006 -- Saudi attack boosts prices
    April crude futures prices jumped above $63/bbl Feb. 24 in New York after Saudi Arabian security forces foiled a suicide attack on the Abqaiq production and processing center.
  • 02/20/2006 -- Prices change with supply outlook
    Crude futures prices dropped below $58/bbl Feb. 15 for the first time since November in New York, capping 6 weeks of unusually large increases in US inventories.
  • 02/10/2006 -- Gasoline supply suppresses energy prices
    Energy futures prices across the board were falling Feb. 8 following a report that US gasoline inventories had soared to an 11-month high.
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