Crude Oil Recovers a Penny
July 10, 2008; Page C6
Oil futures broke a two-session losing streak, but failed to recover much ground as signs of weakening U.S. demand for gasoline prevented a rally.
![[Futures]](https://i0.wp.com/s.wsj.net/public/resources/images/MI-AR276A_COMMO_20080709193231.gif?resize=183%2C274)
Light, sweet crude for August delivery settled a penny higher at $136.05 a barrel on the New York Mercantile Exchange. Futures remain about 6% below the record settlement of $145.29 on July 3, after big drops on Monday and Tuesday.
A 5.8-million-barrel drop in U.S. oil inventories for the July Fourth week exceeded expectations but didn’t provide much of a boost to prices. U.S. inventory levels have fallen to the lowest level for July in five years, however.
Gasoline demand is still falling nationwide, off 2% in the month leading to July Fourth from a year earlier, according to the U.S. Energy Information Administration. Inventories rose by 900,000 barrels, higher than the average gain of 200,000 forecast by analysts. Distillate inventories, including heating oil and diesel, rose by 1.8 million barrels, just below the analyst consensus.
Oil-producing nations provided a mixed bag for traders. Iran tested missiles, increasing tensions, butRoyal Dutch Shell PLC said it restored some Nigerian production shut in the last month by militant attacks.
“The fact that we didn’t crash is no surprise; we’ve come down so far so fast this week,” said Darin Newsom, senior analyst at DTN, a market-information service in Omaha, Neb. “But the fact that we weren’t able to hold gains is also not a surprise.”
With the market having rebounded from corrections almost monthly this year, not everyone was willing to call a top to oil prices. “I would be buying this dip rather than selling into it,” said Chris Jarvis, president of Caprock Risk Management.
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.
