{"id":11391,"date":"2010-07-08T19:39:46","date_gmt":"2010-07-08T17:39:46","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11391\/wti-oil-price-over-75-as-another-us-drilling-ban-looks-likely\/"},"modified":"2010-07-08T19:39:46","modified_gmt":"2010-07-08T17:39:46","slug":"wti-oil-price-over-75-as-another-us-drilling-ban-looks-likely","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11391\/wti-oil-price-over-75-as-another-us-drilling-ban-looks-likely\/","title":{"rendered":"WTI oil price over $75 as another US drilling ban looks likely"},"content":{"rendered":"

WTI oil prices are trading above the $75 mark on Thursday afternoon as US President Obama heads back to court to reinstate a six month ban on deepwater oil drilling imposed after the BP Gulf of Mexico oil spill was blocked by a federal judge. US Light crude oil futures for August 2010 delivery was up to $75.13 a barrel at 18.30 GMT on the NYMEX. Circus Showdown of Lawyers and Oil Companies The showdown starts at 20.00 GMT where government lawyers will square off for one hour against oil drilling companies before a three judge panel. The Obama administration will “immediately” issue a revised drilling ban if the appeals court backs a lower court decision to block the six month moratorium on drilling in deep waters. The oil industry is not expected to resume drilling in deep waters any time soon because of the legal uncertainties. The Obama administration said it suspended drilling in waters deeper than 500 feet to avoid another oil well blowout and give a special presidential commission time to investigate the disaster. Meanwhile, The US government have just given BP 24 hours to outline its next steps to contain the Gulf of Mexico oil spill, saying efforts to cap a fractured well were entering a “critical stage.” WTI oil price lower, Hurricane Alex to miss Gulf oil platforms WTI oil price trading higher as Gulf cyclone Alex heads in Gulf deepwater oil drilling ban is lifted by US judge Light oil prices trading up over $86 on messy Gulf oil spill Brent oil trading higher, Gulf spill not affecting price, yet.. Chances are that BP oil spill may hit Miami coast by August WTI oil price up over $73 as the US dollar looses out WTI oil price back at $75, stock markets trading lower WTI oil price ends week trading near $79, two month high Oil prices under $76 as US oil stocks higher, Gulf ban lifted WTI oil price dips as US jobs data shows increase Brent oil price trading higher on stronger Euro, US data WTI oil price rebounds near $75 on weaker US dollar Brent oil price trading near $74 as BP shares take a hit Brent oil price trading above $72, looks to US crude data US bans oil companies deepwater drilling for 6 months WTI oil price trading higher, over $73 on US supplies data Brent oil price trading over $74 on US market bounce BP shares in freefall down \u00a314bn as Gulf oil crisis deepens WTI oil price trading down 3 percent on firm US dollar Index <\/p>\n

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\nWTI oil price over $75 as another US drilling ban looks likely<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

WTI oil prices are trading above the $75 mark on Thursday afternoon as US President Obama heads back to court to reinstate a six month ban on deepwater oil drilling imposed after the BP Gulf of Mexico oil spill was blocked by a federal judge. US Light crude oil futures for August 2010 delivery was up to $75.13 a barrel at 18.30 GMT on the NYMEX. Circus Showdown of Lawyers and Oil Companies The showdown starts at 20.00 GMT where government lawyers will square off for one hour against oil drilling companies before a three judge panel. The Obama administration will “immediately” issue a revised drilling ban if the appeals court backs a lower court decision to block the six month moratorium on drilling in deep waters. The oil industry is not expected to resume drilling in deep waters any time soon because of the legal uncertainties. The Obama administration said it suspended drilling in waters deeper than 500 feet to avoid another oil well blowout and give a special presidential commission time to investigate the disaster. Meanwhile, The US government have just given BP 24 hours to outline its next steps to contain the Gulf of Mexico oil spill, saying efforts to cap a fractured well were entering a “critical stage.” WTI oil price lower, Hurricane Alex to miss Gulf oil platforms WTI oil price trading higher as Gulf cyclone Alex heads in Gulf deepwater oil drilling ban is lifted by US judge Light oil prices trading up over $86 on messy Gulf oil spill Brent oil trading higher, Gulf spill not affecting price, yet.. Chances are that BP oil spill may hit Miami coast by August WTI oil price up over $73 as the US dollar looses out WTI oil price back at $75, stock markets trading lower WTI oil price ends week trading near $79, two month high Oil prices under $76 as US oil stocks higher, Gulf ban lifted WTI oil price dips as US jobs data shows increase Brent oil price trading higher on stronger Euro, US data WTI oil price rebounds near $75 on weaker US dollar Brent oil price trading near $74 as BP shares take a hit Brent oil price trading above $72, looks to US crude data US bans oil companies deepwater drilling for 6 months WTI oil price trading higher, over $73 on US supplies data Brent oil price trading over $74 on US market bounce BP shares in freefall down \u00a314bn as Gulf oil crisis deepens WTI oil price trading down 3 percent on firm US dollar Index <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lightning_design_setting":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11391","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/11391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=11391"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/11391\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=11391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=11391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=11391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}