EXTRACT: Hiccups at several U.S. plants, forecasts for a tropical disturbance to form in the Gulf of Mexico in the next few days and news that Royal Dutch Shell (RDSa.L) had been forced to trim more output at its Nigerian Bonny oilfields added to the unease.
THE ARTICLE
By REUTERS
Published: July 25, 2006
Filed at 0:53 a.m. ET
SINGAPORE (Reuters) – Oil pushed higher above $75 a barrel on Tuesday as dealers saw little hope for a quick end to the conflict in Lebanon and refinery outages threatened to tighten fuel supplies in the midst of the summer driving season.
U.S. crude for September (CLc1) rose 21 cents to $75.26 a barrel by 0354 GMT, climbing for a third day, while London Brent crude (LCOc1) gained 21 cents to $74.82.
U.S. Secretary of State Condoleezza Rice holds talks with Israeli Prime Minister Ehud Olmert on Tuesday, one day after meeting Lebanese leaders in an effort to end a two-week war between Israel and Hizbollah guerrillas that oil traders fear might destabilize exports from major regional producers.
But she offered little hope for an immediate end to the conflict, and a White House spokesman said any immediate ceasefire would be “unenforceable.”
“(Geopolitics) certainly help put a floor in the market,” said John Brady, a New York broker at ABN AMRO. “With the gasoline and hurricane seasons as well, there’s a lot of wind at the back of the bulls.”
Oil hit a record-high of $78.40 earlier in July on fears the fighting could spread to other parts of the Middle East, which produces about a third of the world’s oil.
Gains gathered pace after traders said a crude distillation unit at Venezuela’s Amuay refinery — part of the world’s biggest refining complex and a top supplier of U.S. gasoline imports — will be shut for five to seven months following a fire last week.
Hiccups at several U.S. plants, forecasts for a tropical disturbance to form in the Gulf of Mexico in the next few days and news that Royal Dutch Shell (RDSa.L) had been forced to trim more output at its Nigerian Bonny oilfields added to the unease.
U.S. gasoline inventories were expected to have slipped by 400,000 barrels last week, while crude stocks were seen dipping 100,000 barrels, a preliminary Reuters poll found.Gasoline futures (HUc1) climbed 0.5 percent, or 1.18 cents, to $2.3260 a gallon on Tuesday.
Oil prices have risen about 23 percent this year and nearly quadrupled since early 2002, but some who have profited from the rally are now questioning how far it still has to run.
Legendary trader and long-time oil bull Boone Pickens, estimated to have made $1.5 billion last year at his BP Capital LLC hedge fund, said he expected crude to top $80 a barrel this year, but was less confident on seeing a triple-digit price.
“If I went to sleep this afternoon and woke up January 1 and you told me oil was $100 a barrel I wouldn’t be surprised. Would I bet on it? No,” Pickens told Reuters in a telephone interview.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
