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Crude Oil Continues Slide

The Street -- NEW YORK (TheStreet) -- Crude oil continued its slide below $80 a barrel to end the week, even as natural gas and gasoline prices managed to make gains on Friday.

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Submitted Nov 21, 2009 By: robbybaby

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ENORMS Champion Author Colorado Posts:2,148 Points:696,800 Joined:Sep 2006	Message Posted: Nov 23, 2009 7:05:58 AM Ignore ENORMS Report Abuse Slip slidin away....
ArmydudeNC Champion Author North Carolina Posts:3,180 Points:398,150 Joined:Jul 2009	Message Posted: Nov 22, 2009 9:22:30 AM Ignore ArmydudeNC Report Abuse Keep on sliding.
BBYinBC Veteran Author Vancouver Posts:397 Points:285,955 Joined:Jul 2009	Message Posted: Nov 21, 2009 10:02:16 PM Ignore BBYinBC Report Abuse that means price at pump will be down?
kbierley Champion Author Dayton Posts:8,635 Points:1,072,910 Joined:Nov 2003	Message Posted: Nov 21, 2009 10:00:26 PM Ignore kbierley Report Abuse Drill from More U.S. Oil, NOW!
fillibuster Veteran Author British Columbia Posts:473 Points:525,155 Joined:Feb 2007	Message Posted: Nov 21, 2009 9:06:14 PM Ignore fillibuster Report Abuse Crude, natural gas and oil ALL need to slide...and slide lots! Prices are far too high still!
dranske Champion Author Miami Posts:1,189 Points:566,350 Joined:Jun 2008	Message Posted: Nov 21, 2009 8:58:38 PM Ignore dranske Report Abuse Good - let it slide...
MINER Champion Author Pittsburgh Posts:8,426 Points:2,468,370 Joined:Jul 2002	Message Posted: Nov 21, 2009 8:24:59 PM Ignore MINER Report Abuse Guess I must have been sleeping or something, but that seems to have been the price I've been seeing in the media for the last 3 or 4 weeks, wheres the change at.
rocket_ron Champion Author Grand Rapids Posts:1,392 Points:1,036,965 Joined:Jul 2006	Message Posted: Nov 21, 2009 7:59:16 PM Ignore rocket_ron Report Abuse Looks to me like the same $70-80 range we have been in for the last 6 months.
rjoeh Champion Author Michigan Posts:3,790 Points:1,582,765 Joined:Jun 2004	Message Posted: Nov 21, 2009 7:59:12 PM Ignore rjoeh Report Abuse My feeling is that if it were not for speculators... crude would still be below $60./barrel.
72_Monte Champion Author Twin Cities Posts:2,804 Points:1,020,755 Joined:Aug 2005	Message Posted: Nov 21, 2009 7:53:14 PM Ignore 72_Monte Report Abuse Keep 'er sliding.
netman044 Champion Author Texas Posts:3,844 Points:646,060 Joined:Sep 2005	Message Posted: Nov 21, 2009 7:52:02 PM Ignore netman044 Report Abuse Supply/demand has never supported $80 crude. It has been fueled by the speculators (currency and oil).
e3p0 Champion Author Columbus Posts:2,179 Points:583,090 Joined:Mar 2006	Message Posted: Nov 21, 2009 7:51:41 PM Ignore e3p0 Report Abuse But how come only oil can slide in an upward direction?
Ken2OD Champion Author Grand Rapids Posts:4,078 Points:995,510 Joined:Dec 2005	Message Posted: Nov 21, 2009 7:48:20 PM Ignore Ken2OD Report Abuse Alaska North Slope Crude closed at $74.72 on Friday. I don't think that it ever got above $80. The highest figure that I have recorded is $79.89 way back on October 21st, exactly one month ago today. You can follow it for yourself at Anchorage Daily News. www.adn.com/money
Tatalah Champion Author Riverside Posts:5,721 Points:1,498,410 Joined:May 2003	Message Posted: Nov 21, 2009 7:46:26 PM Ignore Tatalah Report Abuse Maybe this will put off OPEC nations from delivering their nukes to Israel.
VetteFan Champion Author Indiana Posts:4,846 Points:1,061,470 Joined:Aug 2005	Message Posted: Nov 21, 2009 7:46:09 PM Ignore VetteFan Report Abuse We've a long way to go to get the price of oil back to January of this year. I don't believe it will make it. That made gasoline reasonable again.
amerk73 Champion Author Dallas Posts:2,113 Points:641,790 Joined:Oct 2008	Message Posted: Nov 21, 2009 7:43:51 PM Ignore amerk73 Report Abuse want down $77.69 ?0.22 gas want up why i dont know
Skipper52 Champion Author Massachusetts Posts:2,531 Points:628,950 Joined:Oct 2008	Message Posted: Nov 21, 2009 7:43:29 PM Ignore Skipper52 Report Abuse It's really not moving much now. 77 to 82 and back again. But gas just keeps on climbing. Odd isn't it...
brus282 Champion Author North Carolina Posts:4,626 Points:943,225 Joined:Aug 2007	Message Posted: Nov 21, 2009 7:42:15 PM Ignore brus282 Report Abuse funny how the crude slide has not translated into lower prices at the pump
Jarod13 Champion Author Virginia Posts:2,875 Points:638,300 Joined:Oct 2008	Message Posted: Nov 21, 2009 7:40:35 PM Ignore Jarod13 Report Abuse Crude oil prices, a very slippery road we navigate on! Up one day, down the next, with pump prices ever climbing upwards. With the holidays approaching, I'm sure we'll see a spike in prices until after the first of the year. It's amazing how the oil companies continue to think that consumers don't have any smarts to figure out what they're up too.
TomT2Lee Champion Author Cincinnati Posts:3,470 Points:1,091,790 Joined:Sep 2005	Message Posted: Nov 21, 2009 7:38:51 PM Ignore TomT2Lee Report Abuse My that is funny. Oil around $77 is a slide.
aarrrt Champion Author San Diego Posts:2,980 Points:712,275 Joined:May 2008	Message Posted: Nov 21, 2009 7:38:08 PM Ignore aarrrt Report Abuse It needs to slide much, much more.
TerryLee Champion Author Ohio Posts:11,367 Points:2,139,965 Joined:Mar 2004	Message Posted: Nov 21, 2009 7:36:58 PM Ignore TerryLee Report Abuse not at the pumps it isn't
TXGasPriceSpy Champion Author Fort Worth Posts:2,661 Points:499,545 Joined:Sep 2008	Message Posted: Nov 21, 2009 7:36:32 PM Ignore TXGasPriceSpy Report Abuse Oil goes down, gas goes up!! Is there anything new, anywhere?
K1500 Champion Author Birmingham Posts:1,055 Points:187,170 Joined:May 2008	Message Posted: Nov 21, 2009 7:29:15 PM Ignore K1500 Report Abuse The crude prices better keep falling, as well as the prices on the consumer end.
Jun2 Veteran Author Virginia Posts:489 Points:392,525 Joined:Aug 2008	Message Posted: Nov 21, 2009 7:28:08 PM Ignore Jun2 Report Abuse Yup! Still overpriced.
CaptBilly Rookie Author Florida Posts:78 Points:78,795 Joined:Oct 2009	Message Posted: Nov 21, 2009 7:26:11 PM Ignore CaptBilly Report Abuse Yeah and prices stay up. We are using less gas and they are starting to close refineries, lay off workers there also. Its all a conspiracy. We pay what the oil companies want us to pay.
jay4 Champion Author Colorado Springs Posts:5,792 Points:1,326,080 Joined:Apr 2006	Message Posted: Nov 21, 2009 7:18:30 PM Ignore jay4 Report Abuse Continue to slide back to normal ($0.33/dallon.)
TopGunn Champion Author Baltimore Posts:4,224 Points:1,636,735 Joined:Aug 2004	Message Posted: Nov 21, 2009 7:12:31 PM Ignore TopGunn Report Abuse Still WAY overpriced!
jjjleblanc Champion Author Rochester Posts:2,188 Points:620,740 Joined:Jun 2008	Message Posted: Nov 21, 2009 7:12:20 PM Ignore jjjleblanc Report Abuse Hope it makes it to gas prices.
Rayman71 Champion Author Ontario Posts:1,591 Points:424,100 Joined:Aug 2008	Message Posted: Nov 21, 2009 7:10:51 PM Ignore Rayman71 Report Abuse 14of34SSR don't forget about the Harper Tax, the provincial tax, and gas tax...then you are correct...around 90cents...just wait...soon in Ontario we get to add another 8% tax with the HST..and yes I'm proud to be Canadian...but the taxes are killing our economy...
spiderjay Champion Author Little Rock Posts:2,250 Points:580,205 Joined:Oct 2005	Message Posted: Nov 21, 2009 7:10:34 PM Ignore spiderjay Report Abuse its kinda mixed here in little rock up and down
flyfast Champion Author Kansas City Posts:4,496 Points:873,550 Joined:Jan 2008	Message Posted: Nov 21, 2009 7:09:46 PM Ignore flyfast Report Abuse gas stay up
montytexas Champion Author Houston Posts:1,204 Points:716,495 Joined:Jun 2006	Message Posted: Nov 21, 2009 7:06:44 PM Ignore montytexas Report Abuse Retail gasoline prices around me are 50 cents higher than this time last year, but there is plenty of fuel available....no gas lines anywhere...
14of45SSR Champion Author Saskatchewan Posts:2,102 Points:469,980 Joined:Dec 2008	Message Posted: Nov 21, 2009 6:59:41 PM Ignore 14of45SSR Report Abuse Gas should be about 34.9 maybe as high as 75.9 cents per liter, no more!
Church71 Veteran Author Twin Cities Posts:250 Points:136,395 Joined:Sep 2007	Message Posted: Nov 21, 2009 6:59:03 PM Ignore Church71 Report Abuse a penny here, a penny there.
jay4 Champion Author Colorado Springs Posts:5,792 Points:1,326,080 Joined:Apr 2006	Message Posted: Nov 21, 2009 6:55:05 PM Ignore jay4 Report Abuse Keep sliding down to normal, which should be around $0.33 per gallon.
YLHandyman Champion Author Orange County Posts:4,579 Points:828,795 Joined:Feb 2008	Message Posted: Nov 21, 2009 6:47:51 PM Ignore YLHandyman Report Abuse Slide???
PissedCanuck Champion Author Toronto Posts:3,818 Points:816,630 Joined:Nov 2006	Message Posted: Nov 21, 2009 6:40:59 PM Ignore PissedCanuck Report Abuse Just like snow, let it fall, let it fall.
tc316 Champion Author Twin Cities Posts:4,057 Points:780,680 Joined:Apr 2007	Message Posted: Nov 21, 2009 6:40:00 PM Ignore tc316 Report Abuse Keep sliding
georgeo Champion Author California Posts:2,491 Points:101,385 Joined:May 2009	Message Posted: Nov 21, 2009 6:38:20 PM Ignore georgeo Report Abuse Oil was pushed up by speculation. Waiting on the next round.
Brewernut All-Star Author Milwaukee Posts:854 Points:320,330 Joined:Oct 2008	Message Posted: Nov 21, 2009 6:27:38 PM Ignore Brewernut Report Abuse needs to start sliding more
Kato51 Champion Author Atlanta Posts:2,824 Points:1,272,220 Joined:Jul 2005	Message Posted: Nov 21, 2009 6:19:41 PM Ignore Kato51 Report Abuse Keep on sliding and take the price of gas with you.
cheapertvs Champion Author Richmond Posts:5,169 Points:1,762,270 Joined:Jan 2004	Message Posted: Nov 21, 2009 6:13:14 PM Ignore cheapertvs Report Abuse The price may be bouncing in the $ 70 to $ 80 per barrel range now, but that range will be cheap come April 2010.
dbatw Champion Author St. Louis Posts:1,686 Points:341,165 Joined:Apr 2009	Message Posted: Nov 21, 2009 6:10:51 PM Ignore dbatw Report Abuse again I say that crude can slide, glide, hide or rise like a rocket and the prices we pay at the pump for gasoline seem to have no direct coorelation. Let's face it: we're screwed no matter what. When gasoline supplies are high and prices start to soften big oil will just arrange another refinery fire or "planned" maintenance shutdown.
UMassLowell Veteran Author Dayton Posts:425 Points:216,570 Joined:May 2008	Message Posted: Nov 21, 2009 6:09:03 PM Ignore UMassLowell Report Abuse It could go as low as $5 a barrel and we would still be overcharged.
Winston76 Veteran Author Michigan Posts:468 Points:153,150 Joined:Jul 2008	Message Posted: Nov 21, 2009 6:02:59 PM Ignore Winston76 Report Abuse Good, just as long as it remains reasonable. I'm not thrilled about $70 to $80 oil but just as long as we don't see $100 oil again I'll accept the current price.
caddilac Champion Author Ontario Posts:10,642 Points:1,158,080 Joined:Apr 2007	Message Posted: Nov 21, 2009 6:01:01 PM Ignore caddilac Report Abuse If crude oil continues to "slide" why is it that gasoline prices have gone up?
PFCASTA All-Star Author Worcester Posts:688 Points:1,072,835 Joined:Apr 2006	Message Posted: Nov 21, 2009 5:56:43 PM Ignore PFCASTA Report Abuse Don't count on gas prices going down much
balljars Champion Author Michigan Posts:3,628 Points:720,300 Joined:Aug 2008	Message Posted: Nov 21, 2009 5:51:44 PM Ignore balljars Report Abuse Slide is not big enough.
thirstyauto Champion Author Milwaukee Posts:6,128 Points:639,390 Joined:Nov 2008	Message Posted: Nov 21, 2009 5:48:09 PM Ignore thirstyauto Report Abuse Below 80, not long ago it was below 70!!