Brazil Part 3

In 2012 start of production at Tupi. Technology needed to tap fields like Tupi, which sit hundreds of miles offshore beneath thousands of feet of rock, sand and salt...

Petrobras, Chevron Corp., Royal Dutch Shell Plc and Norsk Hydro ASA plan to start pumping oil from eight Brazilian fields in the next 2 1/2 years that will produce a combined 1.02 million barrels a day, enough to supply two-thirds of the crude used by U.S. East Coast refineries.

More discoveries will follow in Brazil's offshore basins, most of which have yet to be opened to exploration, Repsol YPF SA, Galp Energia, Exxon Mobil Corp. and Devon Energy Corp. are among the producers scouring Brazil's waters for reserves.
The finds they've got so far are just the tip of the iceberg, Brazil is going to change the balance of the global oil markets, and Petrobras will become a geopolitical supermajor.

These absurd crude prices are having the effect that other energy sources are being found and developed ending the Western Hemisphere's reliance on Middle East crude...

Trading Oil and Gold by Matt Zimberg

Optimus Trading Group http://www.optimusfutures.com/
Oil and Gold are evil. Oil is the causes of wars and so is gold.

So it means you should not trade it. Your call! In the event that you decide to do it, just keep in mind a few things. With the advent of electronic markets and the disappearance of pit traded markets, Gold and oil are trading electronically in the commodity exchanges around the clock.
Here are the specs for the electronic futures markets of Gold and oil.

CBOT Gold:
http://www.cbot.com/cbot/pub/cont_detail/0,3206,297+21232,00.html

NYMEX/GLOBEX CRUDE OIL:
http://www.nymexoncmeglobex.com/energy.html

Good luck!
Pat performance is not indicative of future results.
There is a risk of loss in futures trading.
Matt

Oil Rises to Record

Speculation once more being used to send crude prices to new record as crude oil trading near $120 a barrel in New York, after BP Plc shut a North Sea pipeline and gunmen attacked police guarding Nigeria's largest oil and gas terminal.
BP closed the Forties Pipeline System, carrying 40 percent of the U.K.'s oil production, after a strike at the Grangemouth refinery cut power supplies. Five police were killed in yesterday's attack in the Niger Delta, where output has dropped by 50 percent since April 25, adding to concern about supplies before the Northern Hemisphere summer driving season.
The bulls are still in control so it's no surprise to be near $120 on these supply concerns, Nigeria is back on top of traders' minds. The disruptions are real and this is high-quality crude needed by the U.S. refineries for gasoline production in the summer.
Crude oil for June delivery rose to $119.93 a barrel in after-hours electronic trading on the New York Mercantile Exchange, the highest since the futures began trading in 1983. Prices have surged 82 percent in the past year.
The production affected at the moment is pretty substantial, it all counts nowadays. The price would suggest the market is very confortable with speculation..
Brent crude for June settlement rose to $117.50 a barrel London's ICE Futures Europe exchange and was trading at $117.36 a barrel at 3:05 p.m. in Singapore. It reached a record $117.56 on April 25.
Refinery production at Grangemouth will resume on April 29 at 7 a.m. local time. Units crucial to restart flows on the Forties pipeline will have priority, Richard Longden, spokesman for operator Ineos Group Holdings Plc, said yesterday.

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Tupi and Carioca -Brazil Part 2

Brazil's state-controlled Petroleo Brasileiro SA in November said the offshore Tupi field may hold 8 billion barrels of recoverable crude. Among discoveries in the past 30 years, only the 15-billion-barrel Kashagan field in Kazakhstan is larger.
Haroldo Lima, director of the country's oil agency, last week said another subsea field, Carioca, may have 33 billion barrels of oil. That would be the third biggest field in history, behind only the Ghawar field in Saudi Arabia and Burgan in Kuwait.
Carioca is one of seven fields identified so far in the BM- S-9 exploration area, part of a formation called Sugar Loaf.
If additional drilling by Petrobras, as Petroleo Brasileiro is known, confirms the Tupi and Carioca estimates, the fields together would contain enough oil to supply every refinery on the U.S. Gulf Coast for 15 years. Petrobras said it needs at least three months to determine how much crude Carioca may hold.
The U.S. imports about 10 million barrels of oil a day, or 66 percent of its needs, according to the Energy Department in Washington. Saudi Arabia was the second-largest supplier in January, behind Canada.
Persian Gulf nations accounted for 23 percent of U.S. imports, compared with Brazil's 1.7 percent share. Brazilian crude output rose 1.9 percent last year to 2.14 million barrels, according to the International Energy Agency.

Brazil Oil Finds Part 1

As mentioned several times by our WorldWatch group Brazil's discoveries of what are two of the world's three biggest oil finds in the past 30 years will help end the Western Hemisphere's reliance on Middle East crude... Saudi Arabia's influence as the biggest oil exporter has its days numbered if the fields are as big as advertised, China and India would become dominant buyers of Persian Gulf oil... Brazil may be pumping several million barrels of crude daily by 2020, vaulting the nation into the ranks of the world's seven biggest producers...

The U.S. Navy's presence in the Persian Gulf and adjacent waters would be reduced, leaving the region exposed to more conflict... We could see the world becoming a very violent one, if the United States isn't getting any crude from the Gulf, what benefit does it have in policing the Gulf anymore? All of the geopolitical flux that wracks that region regularly suddenly isn't a US problem.

Part 2 coming shortly..

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