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Oil Falls for a Second Day on Rising U.S. Supplies, Fed Minutes

Bloomberg -- Oil fell for a second day in New York after a report showed rising U.S. crude stockpiles and Federal Reserve minutes indicated central bankers saw no need for more monetary stimulus unless economic growth slows.

Futures dropped 0.4 percent extending yesterday’s decline, the first in three days. Crude supplies climbed the most since December, data from the American Petroleum Institute showed. A Department of Energy report today may show inventories rose to a seven month high, according to a Bloomberg News survey. The March Fed minutes signaled less urgency to add stimulus with no sentiment expressed for further easing.

“While we see builds, we’ll see the crude market under pressure,” said Jonathan Barratt, chief executive of Barratt’s Bulletin, a commodity markets newsletter in Sydney.

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Submitted Apr 04, 2012 By: Mudsprings

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honda0105 Champion Author Tallahassee Posts:18,590 Points:1,606,595 Joined:Nov 2008	Message Posted: Apr 7, 2012 7:53:59 AM Ignore honda0105 Report Abuse getting more and more clear that Pig Oil is gauging as crude has dropped and pump prices are up.
sdslim Champion Author Florida Posts:1,881 Points:1,708,160 Joined:Feb 2007	Message Posted: Apr 5, 2012 2:03:20 PM Ignore sdslim Report Abuse But not prices for gasoline.
DrCashFlow Champion Author Massachusetts Posts:7,059 Points:1,624,400 Joined:Jun 2008	Message Posted: Apr 5, 2012 1:50:06 PM Ignore DrCashFlow Report Abuse noise
anascom Champion Author Hamilton Posts:1,593 Points:553,115 Joined:Feb 2011	Message Posted: Apr 5, 2012 12:36:39 AM Ignore anascom Report Abuse @my2002m "Oil prices fall while pump prices jump again. " i agree with you. Here in some areas in southern Ontario, gas prices humped over 5 cents/liter last 2 days!
my2002m Champion Author Tulsa Posts:6,059 Points:1,667,375 Joined:Jul 2008	Message Posted: Apr 4, 2012 10:56:20 PM Ignore my2002m Report Abuse Oil prices fall while pump prices jump again.
ExplorerWA Champion Author Washington Posts:4,067 Points:794,325 Joined:Feb 2011	Message Posted: Apr 4, 2012 10:29:13 PM Ignore ExplorerWA Report Abuse Down today, up tomorrow. Don't worry, be happy as our leaders lead us to the green paradise.
kiosk12y Champion Author Tulsa Posts:3,607 Points:678,820 Joined:Mar 2011	Message Posted: Apr 4, 2012 8:51:15 PM Ignore kiosk12y Report Abuse price of crude is not the only thing that sets the gas price.
jiml1965 Champion Author Harrisburg Posts:3,020 Points:687,325 Joined:Jan 2011	Message Posted: Apr 4, 2012 11:03:37 AM Ignore jiml1965 Report Abuse good
Pete12 Champion Author Albany Posts:4,868 Points:1,642,305 Joined:Nov 2005	Message Posted: Apr 4, 2012 11:01:52 AM Ignore Pete12 Report Abuse Why is the gas price not reacting to the drop in oil price?
Travel1st Champion Author Las Vegas Posts:2,910 Points:468,710 Joined:Aug 2011	Message Posted: Apr 4, 2012 10:56:06 AM Ignore Travel1st Report Abuse Let the gas price follow suit.
investmentdr Champion Author Cleveland Posts:4,014 Points:1,452,125 Joined:Sep 2008	Message Posted: Apr 4, 2012 9:59:56 AM Ignore investmentdr Report Abuse fallin fallin fallin
skybiker Champion Author South Carolina Posts:7,282 Points:1,557,465 Joined:Jul 2008	Message Posted: Apr 4, 2012 8:18:56 AM Ignore skybiker Report Abuse Not Here.....
PittSlovak Champion Author Pittsburgh Posts:2,499 Points:1,909,310 Joined:Sep 2005	Message Posted: Apr 4, 2012 8:03:31 AM Ignore PittSlovak Report Abuse I have a feeling it will be going back up.
Tnerbeel Champion Author Houston Posts:8,809 Points:1,745,910 Joined:Mar 2007	Message Posted: Apr 4, 2012 8:03:02 AM Ignore Tnerbeel Report Abuse It didn't 'fall' anywhere, a temporary slip is more like it.
cherican Champion Author Ontario Posts:2,579 Points:1,063,135 Joined:May 2003	Message Posted: Apr 4, 2012 7:49:16 AM Ignore cherican Report Abuse Say what?!?!?!? Oil going down? The only thing I see is gasoline prices rising. Who's stealing all our $$ ? Ridiculous.
checkum Champion Author St. Louis Posts:7,581 Points:1,472,090 Joined:Jan 2008	Message Posted: Apr 4, 2012 7:42:39 AM Ignore checkum Report Abuse oil goes down, gas goes up?????
mberg Champion Author Houston Posts:3,792 Points:957,455 Joined:Aug 2010	Message Posted: Apr 4, 2012 7:40:55 AM Ignore mberg Report Abuse Not a big deal. But gas prices seem to be stabilizing around here.
rtw777 Champion Author Florida Posts:9,381 Points:1,839,070 Joined:Jan 2008	Message Posted: Apr 4, 2012 7:40:30 AM Ignore rtw777 Report Abuse Implement something to stop the democrats from any hope we have. Dodd-Frank was a stupid move.
slgas Champion Author Houston Posts:6,015 Points:1,559,615 Joined:Oct 2008	Message Posted: Apr 4, 2012 7:39:39 AM Ignore slgas Report Abuse We shouldn't get too excited over this relatively insignificant drop.
stpetebp Champion Author Tampa Posts:6,211 Points:1,730,630 Joined:Nov 2007	Message Posted: Apr 4, 2012 7:39:26 AM Ignore stpetebp Report Abuse Eliminate speculation.
Petrock Champion Author Lexington Posts:9,108 Points:2,554,835 Joined:Apr 2005	Message Posted: Apr 4, 2012 7:39:16 AM Ignore Petrock Report Abuse With prices still above $100 a barrel, I don't expect to see any improvement in gas prices any time soon.
swede Champion Author Cleveland Posts:3,752 Points:1,673,075 Joined:Feb 2003	Message Posted: Apr 4, 2012 7:38:53 AM Ignore swede Report Abuse American purchase of fuel are way down thus inventories are up thus they reduce prices.
tbgasmizer Champion Author Ontario Posts:6,053 Points:1,229,770 Joined:Oct 2009	Message Posted: Apr 4, 2012 7:38:08 AM Ignore tbgasmizer Report Abuse When oil drops gas prices increase?
mouse24 All-Star Author Pennsylvania Posts:808 Points:876,340 Joined:Jul 2006	Message Posted: Apr 4, 2012 7:38:04 AM Ignore mouse24 Report Abuse there is STILL no reason for gas to rise. Oil has been steady for 6-8 weeks. maybe there is some gov't conspiracy to keep prices artificially high.
GatorDone Champion Author Savannah Posts:2,386 Points:1,985,880 Joined:Feb 2006	Message Posted: Apr 4, 2012 7:37:11 AM Ignore GatorDone Report Abuse IMPLEMENT DODD-FRANK NOW .... DO NOT LET REPUBLICANS CONTINUE TO BLOCK THE ONLY REAL RELIEF WE CAN GET FROM CROOKED TRADERS!!!!!
NotmeuQc Champion Author Montreal Posts:5,641 Points:1,131,100 Joined:Apr 2009	Message Posted: Apr 4, 2012 7:36:56 AM Ignore NotmeuQc Report Abuse Then why did we have a price increase here? We dont change from winter to summer blends like the US does.
quasar502 Champion Author Lansing Posts:3,568 Points:798,425 Joined:Jan 2011	Message Posted: Apr 4, 2012 7:36:46 AM Ignore quasar502 Report Abuse Speculators house of cards. Somebody's gonna get really burned one of these days when the market price just up and crashes.
Tripacer Sophomore Author Michigan Posts:201 Points:88,845 Joined:Apr 2011	Message Posted: Apr 4, 2012 7:36:31 AM Ignore Tripacer Report Abuse The oil companies have us all by the family jewels!!!!!
speedraider Champion Author Orlando Posts:3,658 Points:1,641,970 Joined:Nov 2005	Message Posted: Apr 4, 2012 7:36:22 AM Ignore speedraider Report Abuse not for long
MountedShooter Champion Author Georgia Posts:3,070 Points:738,770 Joined:Mar 2011	Message Posted: Apr 4, 2012 7:36:08 AM Ignore MountedShooter Report Abuse Not going to have any effect on pump prices.
V8power Champion Author Pennsylvania Posts:2,801 Points:1,377,070 Joined:Oct 2005	Message Posted: Apr 4, 2012 7:35:40 AM Ignore V8power Report Abuse Who manages these reports? Is there even a report or is that a lie too?
PADI Champion Author Ontario Posts:5,144 Points:1,261,870 Joined:Nov 2008	Message Posted: Apr 4, 2012 7:35:38 AM Ignore PADI Report Abuse Prices at the pumps rose here.
teatiger Champion Author Dallas Posts:2,665 Points:1,473,940 Joined:Nov 2008	Message Posted: Apr 4, 2012 7:35:23 AM Ignore teatiger Report Abuse and is relief coming for the taxpayer/consumer?
blueeye All-Star Author Pennsylvania Posts:761 Points:606,665 Joined:Apr 2008	Message Posted: Apr 4, 2012 7:34:54 AM Ignore blueeye Report Abuse Greed on prices
Maintroll Champion Author Lexington Posts:8,619 Points:1,700,960 Joined:Aug 2008	Message Posted: Apr 4, 2012 7:34:42 AM Ignore Maintroll Report Abuse Oil falls, but why do the pump prices continue to climb? Tell me this isn't legal stealing.
uppy25 Veteran Author Dayton Posts:398 Points:689,785 Joined:Nov 2007	Message Posted: Apr 4, 2012 7:34:32 AM Ignore uppy25 Report Abuse Cool.......
WalRus49 Champion Author Boston Posts:4,060 Points:865,940 Joined:Nov 2010	Message Posted: Apr 4, 2012 7:34:20 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage..........
muquee Champion Author Harrisburg Posts:2,421 Points:519,795 Joined:Nov 2011	Message Posted: Apr 4, 2012 7:34:03 AM Ignore muquee Report Abuse Gas up $.05, they don't reduce no matter what the story is on a given day.
MBAcura Champion Author Orlando Posts:2,355 Points:665,590 Joined:Apr 2011	Message Posted: Apr 4, 2012 7:33:57 AM Ignore MBAcura Report Abuse Good!
Gearitis Champion Author Waco Posts:1,293 Points:725,585 Joined:Sep 2005	Message Posted: Apr 4, 2012 7:33:31 AM Ignore Gearitis Report Abuse It always falls before it goes up!
bkplenge Champion Author Tallahassee Posts:1,617 Points:121,455 Joined:Sep 2005	Message Posted: Apr 4, 2012 7:33:12 AM Ignore bkplenge Report Abuse Increased supplies rising have not been helping to lower the prices lately. Usually, prices rise "because supplies rose less than expected". Another classic excuse will jack the prices back up.
malfrog1 Champion Author South Bend Posts:2,186 Points:547,060 Joined:Feb 2011	Message Posted: Apr 4, 2012 7:32:42 AM Ignore malfrog1 Report Abuse Oil falls, gas prices take a breather, for one day, then it will be back to the same old stuff, rising prices.
Gville Champion Author Ohio Posts:1,307 Points:1,120,420 Joined:Dec 2006	Message Posted: Apr 4, 2012 7:32:04 AM Ignore Gville Report Abuse The oil industry is titrating the US market, looking for the highest price point where people won't curtail usage.
millerin Champion Author Orlando Posts:2,295 Points:478,440 Joined:Jan 2012	Message Posted: Apr 4, 2012 7:31:02 AM Ignore millerin Report Abuse hmmm...
dranske Champion Author Miami Posts:1,200 Points:1,197,970 Joined:Jun 2008	Message Posted: Apr 4, 2012 7:30:50 AM Ignore dranske Report Abuse Profit taking!!!
brbaritone Champion Author Virginia Posts:2,061 Points:1,695,295 Joined:Jan 2007	Message Posted: Apr 4, 2012 7:29:50 AM Ignore brbaritone Report Abuse "Crude supplies climbed the most since December ... inventories rose to a seven month high ... " - when supplies go up and demand goes down, prices are supposed to go DOWN.
TheSnowstorm Champion Author Montreal Posts:8,609 Points:1,910,980 Joined:June 2005	Message Posted: Apr 4, 2012 7:29:06 AM Ignore TheSnowstorm Report Abuse What??????? But of course the excuses are that they have to use up the more expensively refined gas from the more expensive crude. Oh wait, summer gas is more expensive than winter blends. A different refining process. They just got finished saying winter blends are more expensive than summer blends. Do they honestly expect the consumer to believe any of this crap?
LocalSpyGuy Champion Author Tampa Posts:7,785 Points:1,582,250 Joined:Nov 2008	Message Posted: Apr 4, 2012 7:28:58 AM Ignore LocalSpyGuy Report Abuse Gas prices at the pump were up 6 cents this morning.
beohbeNJ Champion Author New Jersey Posts:2,032 Points:531,505 Joined:Sep 2011	Message Posted: Apr 4, 2012 7:28:33 AM Ignore beohbeNJ Report Abuse It went up 8 cents overnight in my neck of the woods too.
turbosaab Champion Author Cleveland Posts:19,009 Points:2,339,220 Joined:Sep 2006	Message Posted: Apr 4, 2012 7:28:32 AM Ignore turbosaab Report Abuse Oil falls, but gas prices jumped here.