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Author	Topic: Crude oil slide keeps sliding	Post a Reply Back to Topics

stpetebp Champion Author Tampa Posts:6,232 Points:1,734,530 Joined:Nov 2007	Message Posted: Apr 16, 2012 8:22:46 AM Ignore stpetebp Report Abuse Crude oil prices slipped close to $102 per barrel over the weekend in a slide prompted by economic growth data from China. First-quarter gross domestic product growth in China rose 8.1 percent, which came in short of expectations. The subsequent drop in oil prices is another reminder that, in spite of squabbling over gasoline prices in Washington, demand for oil beyond U.S. borders has a significant impact on petroleum pricing. West Texas Intermediate crude oil for May delivery lost 85 cents to $101.98 per barrel on the New York Mercantile Exchange. Home heating oil prices shed 5.08 cents to $3.1238 per gallon. Reformulated blendstock gasoline lost 6.84 cents to $3.2777 per gallon. Natural gas prices added 2.4 cents to $2.005 per million British thermal units. Visit UPI for full article

stpetebp

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Tampa

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Message Posted: Apr 16, 2012 8:22:46 AM

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Crude oil prices slipped close to $102 per barrel over the weekend in a slide prompted by economic growth data from China.

First-quarter gross domestic product growth in China rose 8.1 percent, which came in short of expectations.

The subsequent drop in oil prices is another reminder that, in spite of squabbling over gasoline prices in Washington, demand for oil beyond U.S. borders has a significant impact on petroleum pricing.

West Texas Intermediate crude oil for May delivery lost 85 cents to $101.98 per barrel on the New York Mercantile Exchange. Home heating oil prices shed 5.08 cents to $3.1238 per gallon. Reformulated blendstock gasoline lost 6.84 cents to $3.2777 per gallon.

Natural gas prices added 2.4 cents to $2.005 per million British thermal units.
Visit UPI for full article

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alex395 Champion Author Louisville Posts:2,050 Points:276,710 Joined:Jan 2007	Message Posted: Apr 17, 2012 5:20:02 AM Ignore alex395 Report Abuse So we have two people to thank for the high oil prices- Obama whose main focus is to reduce demand not prices (government always knows what is best) and China for increasing demand.
amerk73 Champion Author Dallas Posts:7,055 Points:1,622,930 Joined:Oct 2008	Message Posted: Apr 16, 2012 8:52:42 PM Ignore amerk73 Report Abuse not fair price
qwerty17 Champion Author New Jersey Posts:3,660 Points:1,118,875 Joined:Oct 2009	Message Posted: Apr 16, 2012 7:51:20 PM Ignore qwerty17 Report Abuse slide baby slide.
eomc17 Champion Author Tucson Posts:1,822 Points:134,145 Joined:Mar 2007	Message Posted: Apr 16, 2012 6:24:17 PM Ignore eomc17 Report Abuse Until the CFTC will EVER do its job and follow.all of its laws, actually. Just one, on jan 17th, 2011, the CFTC was required by law to enact legislation to curb speculation and set position limits any speculator can hold at one time, and LIED to the American people why it wasn't done. The 1st time they delayed deciding on how to implement this law because they needed more time to collect sufficient data. Any delay was already breaking the law. The 2nd time they delayed this due ti "industry pressure". HAH!!! What a lie. The truth came from CFTC boss' mouth last week. Gensler "wasn't interested" in changing the status quo. What gall this AHOLE has to use this excuse to delay implementing a law that should have been implemented 15 MONTHS AGO!!! This also shows how little Obama cares about our laws.
Nicoalbum Champion Author Ottawa Posts:6,027 Points:1,190,000 Joined:Jan 2010	Message Posted: Apr 16, 2012 6:22:42 PM Ignore Nicoalbum Report Abuse Beware of sliding oil. This may be a precursor for a big bang
Lugi1967 Champion Author Ohio Posts:4,793 Points:1,003,220 Joined:Jun 2010	Message Posted: Apr 16, 2012 4:28:18 PM Ignore Lugi1967 Report Abuse Wish our domestic growth slowed to just 8%
Lugi1967 Champion Author Ohio Posts:4,793 Points:1,003,220 Joined:Jun 2010	Message Posted: Apr 16, 2012 4:27:38 PM Ignore Lugi1967 Report Abuse Good
wildddkattt80 Champion Author Phoenix Posts:2,143 Points:432,145 Joined:Jun 2011	Message Posted: Apr 16, 2012 3:50:07 PM Ignore wildddkattt80 Report Abuse I do see gas prices going down a bit.
ktbaeohana Champion Author Las Vegas Posts:2,311 Points:422,975 Joined:Mar 2010	Message Posted: Apr 16, 2012 2:04:03 PM Ignore ktbaeohana Report Abuse crude keep on sliding oil price drop?
drpepperTX Champion Author Texas Posts:8,950 Points:753,185 Joined:Apr 2011	Message Posted: Apr 16, 2012 1:54:19 PM Ignore drpepperTX Report Abuse PDQBlues, the best indicator is to look at Nymex RBOB Gasoline Futures, currently, 326.25 -8.36 -2.50% 16:22 ET. Add in taxes for your local, state and federal, and a few weeks lag time and most of the time you get a pretty good indication of where prices will be. [Edited by: drpepperTX at 4/16/2012 5:00:33 PM EST]
gbs1 Champion Author Minnesota Posts:2,006 Points:743,575 Joined:Mar 2011	Message Posted: Apr 16, 2012 1:51:53 PM Ignore gbs1 Report Abuse Remove the speculators from the scene and we would see a dramatic drop in prices.
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Apr 16, 2012 12:38:34 PM Ignore dh0770 Report Abuse Chicken little...the sky is falling!
njerald Champion Author Seattle Posts:7,834 Points:1,625,025 Joined:Oct 2007	Message Posted: Apr 16, 2012 12:21:51 PM Ignore njerald Report Abuse Oil is UP today and going higher!!!!!!!!!!!!!!!
PDQBlues Champion Author San Diego Posts:7,079 Points:1,449,300 Joined:Jan 2009	Message Posted: Apr 16, 2012 12:18:50 PM Ignore PDQBlues Report Abuse So how far and how long does oil need to slide before we start to see a substantial slide in gas prices?
gils Champion Author Ohio Posts:1,706 Points:645,675 Joined:Feb 2011	Message Posted: Apr 16, 2012 12:15:46 PM Ignore gils Report Abuse good
bl626 All-Star Author Toledo Posts:824 Points:242,355 Joined:Feb 2011	Message Posted: Apr 16, 2012 12:08:19 PM Ignore bl626 Report Abuse let it slide, let it slide... heck we know ain't going to do a damn thing here!
PerSonneL Champion Author Alberta Posts:1,188 Points:736,915 Joined:Mar 2008	Message Posted: Apr 16, 2012 11:57:09 AM Ignore PerSonneL Report Abuse no doubt
mfeldstein Champion Author Ottawa Posts:8,181 Points:1,932,430 Joined:Feb 2007	Message Posted: Apr 16, 2012 11:53:47 AM Ignore mfeldstein Report Abuse Keep sliding. Thanks, China!
drpepperTX Champion Author Texas Posts:8,950 Points:753,185 Joined:Apr 2011	Message Posted: Apr 16, 2012 11:39:46 AM Ignore drpepperTX Report Abuse " My theory is they want to keep the gas around $4.00. In Michigan, it seemed to peak at around $4.15, then slowly go down to $3.99. It stayed there for a week or so, then dropped over the next week or 2 down to $3.69, only to jump over night to $3.99 again. Now, over the weekend and in to this week, it is slowly coming down again. Frustrating!" ========================================== Frustrating indeed! However, it would seem more logical that 'they' would like to keep fuel prices lower. They just cannot keep prices lower with the major ingredient of gasoline, oil, priced high. Think about it like this, 'they' make the same profit margin off a gallon of gasoline whether it is $1 or $5 per gallon. Therefore, it only makes sense that 'they' would sell more gallons at $1 than $5, right? Same profit margin but more volume would then result in more profit. That is why profit MARGIN is such an important aspect to use to judge oil company revenues.
briinnc Champion Author North Carolina Posts:2,705 Points:834,820 Joined:Jan 2010	Message Posted: Apr 16, 2012 11:25:59 AM Ignore briinnc Report Abuse We don't need a slide, we need an avalanche.
johnmac59 Rookie Author Detroit Posts:58 Points:162,390 Joined:Nov 2011	Message Posted: Apr 16, 2012 11:15:25 AM Ignore johnmac59 Report Abuse The amount of fluctuation is ridiculous. My theory is they want to keep the gas around $4.00. In Michigan, it seemed to peak at around $4.15, then slowly go down to $3.99. It stayed there for a week or so, then dropped over the next week or 2 down to $3.69, only to jump over night to $3.99 again. Now, over the weekend and in to this week, it is slowly coming down again. Frustrating!
scu227 Champion Author New Haven Posts:4,157 Points:772,855 Joined:Feb 2011	Message Posted: Apr 16, 2012 11:08:12 AM Ignore scu227 Report Abuse Good, but not nearly enough (and tht's if it even gets to the pump).
investmentdr Champion Author Cleveland Posts:4,034 Points:1,456,025 Joined:Sep 2008	Message Posted: Apr 16, 2012 10:56:13 AM Ignore investmentdr Report Abuse gasoline -2.5% today!!!
TopGunn Champion Author Baltimore Posts:9,191 Points:2,617,255 Joined:Aug 2004	Message Posted: Apr 16, 2012 10:51:54 AM Ignore TopGunn Report Abuse Still has a LONG way to go on the 'down hill slide'.
CAD69 Champion Author Milwaukee Posts:3,211 Points:847,215 Joined:Nov 2010	Message Posted: Apr 16, 2012 10:36:33 AM Ignore CAD69 Report Abuse The price can't go low enough, fast enough!
Buckeyee Champion Author Maine Posts:4,611 Points:900,600 Joined:May 2010	Message Posted: Apr 16, 2012 10:31:44 AM Ignore Buckeyee Report Abuse Gas went up to $4.02 / gal today in Maine.
dbecks44 Champion Author Michigan Posts:1,352 Points:433,405 Joined:Jan 2012	Message Posted: Apr 16, 2012 10:28:46 AM Ignore dbecks44 Report Abuse Good news all around, I'd say.
bbthegun Champion Author San Diego Posts:5,983 Points:1,681,940 Joined:Sep 2006	Message Posted: Apr 16, 2012 10:27:01 AM Ignore bbthegun Report Abuse Where is Brent Crude??
TripleHs Champion Author Austin Posts:3,355 Points:918,090 Joined:Oct 2009	Message Posted: Apr 16, 2012 10:07:20 AM Ignore TripleHs Report Abuse not enough at all
clpassenubye Champion Author Los Angeles Posts:3,359 Points:755,230 Joined:Mar 2011	Message Posted: Apr 16, 2012 9:54:19 AM Ignore clpassenubye Report Abuse great
doggod Champion Author Anchorage Posts:2,853 Points:742,335 Joined:May 2009	Message Posted: Apr 16, 2012 9:46:23 AM Ignore doggod Report Abuse Well, it looks like the nonsensical "speculator" meme has mostly retreated back into the woodwork today. That's how it works, get it? When prices go down, you shut up about your "speculator" theory, holding off to trot it back out the next time they go up. What's sad is it actually works; people buy the nonsense because they don't notice the game.
LEGION57 Champion Author South Carolina Posts:1,676 Points:283,110 Joined:Mar 2011	Message Posted: Apr 16, 2012 9:42:01 AM Ignore LEGION57 Report Abuse Slip sliding awayyyyy
hubie24 Veteran Author Michigan Posts:315 Points:204,080 Joined:Jul 2010	Message Posted: Apr 16, 2012 9:39:51 AM Ignore hubie24 Report Abuse keep going down.
drpepperTX Champion Author Texas Posts:8,950 Points:753,185 Joined:Apr 2011	Message Posted: Apr 16, 2012 9:31:39 AM Ignore drpepperTX Report Abuse Lastest: Nymex Crude Future 102.19 -0.64 -0.62% 12:16 Dated Brent Spot 118.72 -2.86 -2.36% 12:28 Nymex RBOB Gasoline Future 328.05 -6.56 -1.96% 12:17
Bigtex09 Champion Author Dallas Posts:4,293 Points:1,160,260 Joined:Oct 2009	Message Posted: Apr 16, 2012 9:28:29 AM Ignore Bigtex09 Report Abuse that's because we cannot afford it anymore! November 2012!
BUSMAN1105 Champion Author Atlanta Posts:2,164 Points:1,171,935 Joined:Aug 2008	Message Posted: Apr 16, 2012 9:22:38 AM Ignore BUSMAN1105 Report Abuse I AGREE IT'S NOT DROPPING FAST ENOUGH FOR GASOLINES PRICES TO DROP.
sit Champion Author Cleveland Posts:5,210 Points:1,933,920 Joined:Feb 2006	Message Posted: Apr 16, 2012 9:12:01 AM Ignore sit Report Abuse Not fast enough.
ObieDog Champion Author Maryland Posts:1,971 Points:852,870 Joined:Sep 2010	Message Posted: Apr 16, 2012 8:53:40 AM Ignore ObieDog Report Abuse Saw my first decrease around here in a long time last week. Expecting to see a unicorn this week.
hoosierva Champion Author Indianapolis Posts:1,036 Points:483,395 Joined:Jul 2011	Message Posted: Apr 16, 2012 8:53:12 AM Ignore hoosierva Report Abuse such garbage for news, there is not slide, just a manipulation of the market place
mackconsult Champion Author Portland Posts:5,309 Points:864,355 Joined:Jan 2009	Message Posted: Apr 16, 2012 8:51:00 AM Ignore mackconsult Report Abuse Yes, bring it on down
Jeff4U Champion Author Atlanta Posts:8,762 Points:1,854,095 Joined:Nov 2004	Message Posted: Apr 16, 2012 8:50:28 AM Ignore Jeff4U Report Abuse A drop currently of 62¢ is utterly insignificant - not worth mentioning.
uglytom Champion Author Florida Posts:7,464 Points:1,542,015 Joined:Jul 2007	Message Posted: Apr 16, 2012 8:47:45 AM Ignore uglytom Report Abuse Keep on sliding!
goalie1950 Champion Author Phoenix Posts:6,415 Points:1,297,395 Joined:Oct 2009	Message Posted: Apr 16, 2012 8:44:21 AM Ignore goalie1950 Report Abuse The price of oil needs to slide a lot more than a couple of bucks in order to get where it should be.
Van_Halen Champion Author Atlanta Posts:2,855 Points:642,955 Joined:Apr 2011	Message Posted: Apr 16, 2012 8:43:11 AM Ignore Van_Halen Report Abuse . And if we started drilling EVERYWHERE we have oil and get back to 10MBD production, gasoline would be back to $2!
lonewolfhead Champion Author Texas Posts:1,652 Points:562,810 Joined:Aug 2011	Message Posted: Apr 16, 2012 8:38:48 AM Ignore lonewolfhead Report Abuse Sliding & we still get screwed - no change at the pump
taxiken Champion Author Twin Cities Posts:5,950 Points:1,547,725 Joined:Feb 2003	Message Posted: Apr 16, 2012 8:38:46 AM Ignore taxiken Report Abuse And local prices are rising.
OTISFL Champion Author Pensacola Posts:4,615 Points:866,790 Joined:Apr 2009	Message Posted: Apr 16, 2012 8:35:30 AM Ignore OTISFL Report Abuse FAR from what the prices SHOULD be.
gumbyrex Champion Author Fresno Posts:3,306 Points:760,265 Joined:Mar 2011	Message Posted: Apr 16, 2012 8:33:12 AM Ignore gumbyrex Report Abuse Keep on truckin' crude, you're going in the right direction.
GenoAR Veteran Author Arkansas Posts:429 Points:762,945 Joined:Oct 2008	Message Posted: Apr 16, 2012 8:29:23 AM Ignore GenoAR Report Abuse For years back in the 50's oil was fixed at $3.50 a barrel and oil company's grew wealthy beyond imagination. We produced all that was needed too. Then came OPEC and the rest is history.
DirtDauber Champion Author San Antonio Posts:6,791 Points:1,629,410 Joined:Nov 2005	Message Posted: Apr 16, 2012 8:29:05 AM Ignore DirtDauber Report Abuse At least it is going the right direction.