Haha Upside_Oooooomop. The Jury is still out on that one but I know Macdunk well enough to be sure he aint the Doc :D
Printable View
Looks like NZO sp will come back down. Oil down and NZD up.
Crude erases gains as EIA forecasts lower prices
NEW YORK (MarketWatch) -- Crude-oil futures gave up earlier gains Tuesday that had pushed prices to a two-month high, after the U.S. government lowered its forecasts for oil prices, saying ongoing economic troubles will cut into demand.
http://www.marketwatch.com/news/story/oil-gains-us-stocks-rise/story.aspx?guid={0342347D-E0BC-493E-BE50-0428A1C56688}&dist=msr_2
Brent is up according to this, unless its not up to date..
http://www.upstreamonline.com/market...id=markets_oil
With the DOW surging 5.8% overnight, that should also give things a bit of a lift.
US crude April futures down from $48 to $45.5.
Dr Who,
RE: ENJOY THE MOMENT
Is that not the case with every second of your life?
TA's are looking good. FA looked better at $1.13 Bigish sell orders are getting snapped up like hot cakes.
Dr. WHO's buying and Dr WHO's selling?
Interesting, an undisclosed quantity buyer at 1.41, and undisclosed quantity seller at 1.42....
30,000 1 142
u 49,476 3 141
19,225 1 140
1,000 1 138
11,310 1 137
27,000 2 136
40,000 1 135
11,000 2 133
25,500 3 132
3,780 1 128
4,200 1 122
19,100 2 121
36,000 4 120
81,700 8 119
76,373 5 118
Asks
Price No. Quantity
140 1 3,100
141 1 25,000
142 4 u 57,901
143 3 69,000
144 2 14,000
145 8 113,700
147 2 60,000
148 2 35,000
149 2 40,000
150 2 16,200
151 1 3,500
153 1 1,600
I read it as bigger players in the game. I think that to be undisclosed that the number of shares has to be above 100,000. I stand to be corrected on this. It is a while since we have seen this on this stock.
NZ shares are so illiquid. Every time there is a decent order the sp has a sharp movement.
for those this could be of some benifit not all relating to nzog
THE multipurpose support vessel Geobay is back in New Zealand waters to help with maintenance projects at the Maui, Pohokura and Kupe fields offshore Taranaki.
The Geobay vessel
The 86m-long, 3502-tonne DOF Subsea vessel, which assisted with the installation of the Maari oil field wellhead platform last year, arrived at Port Taranaki on Sunday night.
It has since left the New Plymouth port on several occasions, returning each time in what could prove to be a two-month stay.
Neither Kupe operator Origin Energy, Maui operator Shell Todd Oil Services nor Pohokura operator Shell Exploration New Zealand has yet confirmed to PetroleumNews.net their contracts with DOF Subsea (Asia Pacific), a subsidiary of Norway-headquartered DOF Subsea.
However, PNN understands the Geobay’s jobs all involve routine maintenance tasks on the Kupe, Maui and Pohokura subsea pipelines.
It is known the Geobay will assist with the realignment of the Kupe products pipeline and umbilical along some of the 30km-long subsea route from off south Taranaki to shore.
It is understood divers will reattach some of the strops used to clamp the umbilical to the pipeline where they are not both buried in the same trench.
The Kupe project is only expected to take a maximum of two weeks, given inclement weather conditions, and will not affect the scheduled second-quarter commissioning of the $NZ1.2 billion project.
The Geobay is also understood to be involved in supporting some remote operated vehicle (ROV) and diver maintenance work associated with the Maui pipeline further south and the more northern near-shore Pohokura pipeline.
These tasks are expected to take a maximum of two weeks each to complete, if the rough weather continues for much of that time.
The Kupe partners are operator Origin Energy (50%), Genesis Energy (31%), New Zealand Oil & Gas (15%), and Mitsui E&P NZ (4%).
The Pohokura partners are operator Shell Exploration NZ (48%), Todd Energy (26%) and OMV (26%).
The Maui partners are Shell Exploration NZ (83.75%), Todd Energy (6.25%) and Austrian firm OMV (10%).
Oil prices slump below $44 on inventory report
NEW YORK (AP) — Oil prices tumbled Wednesday as U.S. inventories swelled with surplus crude and traders started to doubt whether OPEC would cut production further.
Benchmark crude for April delivery dropped 5 percent, or $2.37, to $43.34 a barrel on the New York Mercantile Exchange.
The Energy Information Administration said crude supplies in the U.S. climbed unexpectedly by 700,000 barrels for the week ended March 6. Analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos., expected a drop of 1 million barrels.
Tom Kloza, publisher and chief oil analyst at Oil Price Information Service, said the most disturbing part of the report was that national demand for distillate fuel oil dropped by 6.1 percent. Distillate fuel includes diesel fuel used by trucking companies, miners and manufacturers.
"That's an ugly number," Kloza said. "You're not seeing commercial goods moved around the country like a year ago. And we were in a recession a year ago."
Meanwhile, investors are coming to believe that OPEC may not cut production when it meets Sunday in Vienna. The Organization of the Petroleum Exporting Countries has already announced output quota reductions of 4.2 million barrels a day, and some analysts had expected the 12-member group would slash another 500,000 barrels per day.
Oil officials from Saudi Arabia have said that instead of trimming production even more, OPEC should focus instead on making sure its members are in compliance with the previous cuts, analyst Phil Flynn said.
Flynn said Saudi Arabia may not be interested in trimming production more if other countries won't do the same.
"Are the Saudis getting sick of carrying the load for the cheaters in the cartel?" Flynn said in a research note. "Are the Saudi's getting ready to break ranks and force the other members of the cartel to either cut back more or just shut up?"
Oil prices had been rebounding from a low of $33.98 a barrel in February as U.S. crude inventories dropped and investors started to gain confidence that OPEC's cuts would effectively balance falling global demand.
As oil grew to almost $50 a barrel, analyst and trader Stephen Schork said many investors started thinking about cashing in. The bearish crude inventory report helped them make that decision, Schork said.
"As usual, we've been buying on rumor and now we're selling on fact," Schork said.
Investors also were presented another batch of gloomy economic news Wednesday.
Chinese oil imports have dropped 13 percent in the first two months of the year, and are now at their lowest level in more than two years, analyst Addison Armstrong said. Chinese manufacturers are struggling, with exports plunging 25.7 percent year-over-year in February, Armstrong said.
Automobile sales also are plunging around the world, according to Vienna's JBC Energy said. "In February, U.S. passenger car sales dropped by 39 percent year-on-year, while sales in Europe also fell sharply," JBC Energy said in a research note.
The U.S. Labor Department said Wednesday that California, South Carolina, Michigan and Rhode Island registered double-digit unemployment rates in January. The national average unemployment rate was 8.1 percent in February, the highest in more than 25 years.
Elsewhere, Staples Inc. said Wednesday its fourth-quarter profit dropped 14 percent, though the results were related to last summer's acquisition of a Dutch rival dragged down results. Staples added that shoppers are spending less on computers, accessories and furniture. Sales fell 13 percent at stores in North America that were open at least a year, the company said.
Department store owner Neiman Marcus Inc. said it lost $509.3 million in the second quarter on a series of hefty write-downs totaling more than half a billion dollars.
And teen-focused American Eagle Outfitters Inc. said its fourth-quarter profit dropped 77 percent because of unplanned markdowns during the weak holiday season and a charge related to the declining value of some investment securities.
Gas prices dipped less than a penny to a national average of $1.938 a gallon, according to auto club AAA, Wright Express and Oil Price Information Service. Pump prices are up 1.4 cents a gallon from a month ago, but they're $1.289 a gallon cheaper than last year.
In other Nymex trading, gasoline for April delivery fell 3.2 cents to $1.2651 a gallon, while heating oil slipped 4.2 cents to $1.157 a gallon. Natural gas for April delivery fell less than a penny to $3.834 per 1,000 cubic feet.
Brent prices dropped 59 cents to $43.37 on the ICE Futures exchange in London.
Associated Press writers George Jahn in Vienna and Alex Kennedy contributed to this report from Singapore.
Copyright © 2009 The Associated Press. All rights reserved.
Strong sp in NZO have me thinking that there could be someone holding up the price. Me think maybe NZO is getting ready for a script bid for PPP? I am only guessing on this one. What do you guys think?