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Oil heads back down as dollar revives

MarketWatch -- Benchmark U.S. crude-oil futures slipped in electronic trade Tuesday, surrendering some gains as the dollar staged a modest rebound.

During Asian trading hours, the New York Mercantile Exchange crude contract for February lost 39 cents, or 0.4%, to trade at $93.75 a barrel.

The rival benchmark Brent crude also moved lower, with the February Brent contract -0.08% down 0.3% at $111.52 a barrel on ICE Futures in London.

The losses followed a 0.6% gain for Nymex crude during Monday’s regular floor session, as a weaker dollar helped send the contract to its highest point in almost four months.

However, the forex support faded as the dollar moved back up Tuesday. The ICE dollar index, measuring the U.S. currency against six rivals, rose to 79.546 from 79.493 around the time of Monday’s ...

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Submitted Jan 15, 2013 By: brbaritone

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honda0105 Champion Author Tallahassee Posts:18,828 Points:1,637,220 Joined:Nov 2008	Message Posted: Jan 18, 2013 5:52:17 AM Ignore honda0105 Report Abuse nice roller coaster ride... as always -- and a steady trend upward no matter how often it falls.
dockersbin Veteran Author Virginia Beach Posts:407 Points:279,135 Joined:May 2006	Message Posted: Jan 16, 2013 10:13:01 AM Ignore dockersbin Report Abuse then it will go back up.. then down then up.
52MPG Champion Author Dayton Posts:7,402 Points:1,769,405 Joined:Apr 2006	Message Posted: Jan 16, 2013 10:11:58 AM Ignore 52MPG Report Abuse Up Down up down up down up do.............
virostek Veteran Author Virginia Posts:423 Points:90,285 Joined:Oct 2012	Message Posted: Jan 16, 2013 9:36:01 AM Ignore virostek Report Abuse Not seeing it.
SkooterG Champion Author Phoenix Posts:1,369 Points:344,185 Joined:May 2012	Message Posted: Jan 16, 2013 3:45:44 AM Ignore SkooterG Report Abuse Big deal.
rahcat Champion Author Grand Rapids Posts:2,681 Points:689,900 Joined:Jan 2010	Message Posted: Jan 16, 2013 12:17:33 AM Ignore rahcat Report Abuse Just have the Treasury print more money and the dollar will sink again.
pa79th Champion Author Pennsylvania Posts:1,922 Points:1,243,800 Joined:Jun 2007	Message Posted: Jan 16, 2013 12:16:45 AM Ignore pa79th Report Abuse Just wait until the dollar catches up to the Whie House's war on our economy!
wshokie12 Champion Author Winston-Salem Posts:1,455 Points:244,035 Joined:Aug 2012	Message Posted: Jan 16, 2013 12:16:37 AM Ignore wshokie12 Report Abuse Okay.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Jan 16, 2013 12:16:25 AM Ignore tedjm1 Report Abuse Gas prices will rise.
crreed1 Champion Author West Virginia Posts:2,100 Points:2,550,715 Joined:May 2005	Message Posted: Jan 16, 2013 12:15:58 AM Ignore crreed1 Report Abuse 3.45 a gal here
bvrbill Champion Author Eugene Posts:3,440 Points:546,000 Joined:Jul 2011	Message Posted: Jan 16, 2013 12:15:21 AM Ignore bvrbill Report Abuse It's sure not down at the pump.
unicornpmb Champion Author Buffalo Posts:8,631 Points:1,657,215 Joined:Sep 2005	Message Posted: Jan 16, 2013 12:14:02 AM Ignore unicornpmb Report Abuse Now if we only put oil not gas into our cars. Diesel not included.
Tsunamiron Champion Author Jacksonville Posts:1,569 Points:585,425 Joined:Mar 2011	Message Posted: Jan 16, 2013 12:13:10 AM Ignore Tsunamiron Report Abuse I don't see gas prices going down any.
madison8359 Champion Author Cleveland Posts:9,331 Points:1,620,995 Joined:Apr 2008	Message Posted: Jan 16, 2013 12:12:37 AM Ignore madison8359 Report Abuse Still hovering around $100 and retail is steady.
yyc2yow All-Star Author Ottawa Posts:777 Points:595,895 Joined:Dec 2009	Message Posted: Jan 16, 2013 12:12:36 AM Ignore yyc2yow Report Abuse down down you go ... yeah right
SpankyMI Champion Author Kalamazoo Posts:2,836 Points:785,590 Joined:Jan 2011	Message Posted: Jan 16, 2013 12:11:41 AM Ignore SpankyMI Report Abuse Needs to get "down" to around $50 a barrel!
UpSol7 Champion Author Augusta Posts:1,709 Points:784,625 Joined:Sep 2008	Message Posted: Jan 16, 2013 12:09:29 AM Ignore UpSol7 Report Abuse Fluctuation happens.
Focus2 Champion Author Illinois Posts:7,910 Points:1,928,350 Joined:Mar 2006	Message Posted: Jan 16, 2013 12:09:13 AM Ignore Focus2 Report Abuse And why shouldn't the dollar get strong with all American oil?
VanIsleLes All-Star Author British Columbia Posts:898 Points:295,295 Joined:Jun 2012	Message Posted: Jan 16, 2013 12:08:25 AM Ignore VanIsleLes Report Abuse Prices are still low, but they've been a little lower in the fall
jdevlin All-Star Author Ontario Posts:800 Points:1,403,785 Joined:Sep 2008	Message Posted: Jan 16, 2013 12:06:41 AM Ignore jdevlin Report Abuse Price hasn't dropped here for some time.
medic319 All-Star Author Akron Posts:733 Points:267,485 Joined:Mar 2012	Message Posted: Jan 16, 2013 12:06:20 AM Ignore medic319 Report Abuse Hasn't helped the price at the pump very much!
sjhman Veteran Author Atlanta Posts:416 Points:298,740 Joined:Sep 2008	Message Posted: Jan 16, 2013 12:05:47 AM Ignore sjhman Report Abuse Keep going down down down!
splitrman Champion Author Victoria Posts:1,450 Points:342,920 Joined:Jun 2012	Message Posted: Jan 16, 2013 12:03:43 AM Ignore splitrman Report Abuse Gas droped a whopping 4 cents a gallon today in Victoria BC to a mere $4.56 a gallon.
PrinceLH Champion Author Ontario Posts:2,832 Points:565,745 Joined:Jun 2011	Message Posted: Jan 16, 2013 12:03:24 AM Ignore PrinceLH Report Abuse It's being tampered with!
jetskijerry Champion Author North Carolina Posts:4,036 Points:799,970 Joined:Mar 2011	Message Posted: Jan 16, 2013 12:03:05 AM Ignore jetskijerry Report Abuse too high
Lizzylou Champion Author Stockton Posts:8,818 Points:2,357,285 Joined:Oct 2005	Message Posted: Jan 16, 2013 12:02:37 AM Ignore Lizzylou Report Abuse Now if the gas would go down!
Doomsday64 All-Star Author Austin Posts:905 Points:353,350 Joined:Apr 2011	Message Posted: Jan 16, 2013 12:02:32 AM Ignore Doomsday64 Report Abuse For how long is the question.
cheaper0ON Champion Author Ontario Posts:1,123 Points:425,755 Joined:Jan 2012	Message Posted: Jan 16, 2013 12:02:15 AM Ignore cheaper0ON Report Abuse Agree with "Eugenian" comment. [Edited by: cheaper0ON at 1/16/2013 12:02:46 AM EST]
s6sputnik Champion Author Austin Posts:6,332 Points:1,333,645 Joined:Jun 2007	Message Posted: Jan 15, 2013 11:58:33 PM Ignore s6sputnik Report Abuse Some comments are really dumb!
drillintheUSA Champion Author Rochester Posts:1,037 Points:209,835 Joined:Apr 2008	Message Posted: Jan 15, 2013 11:57:41 PM Ignore drillintheUSA Report Abuse If the Federal Reserve has their way, our dollar will NEVER "revive".
MrPony Veteran Author North Carolina Posts:439 Points:414,295 Joined:Jul 2004	Message Posted: Jan 15, 2013 11:57:05 PM Ignore MrPony Report Abuse Should bring gas prices down!
BREW9 Champion Author Tampa Posts:1,020 Points:2,940,510 Joined:Jun 2004	Message Posted: Jan 15, 2013 11:55:19 PM Ignore BREW9 Report Abuse good
SparkieMi Champion Author Kalamazoo Posts:3,400 Points:615,595 Joined:Sep 2011	Message Posted: Jan 15, 2013 11:48:53 PM Ignore SparkieMi Report Abuse Blg oil rules with the big $$$$$
Rageagainsttm Champion Author Tampa Posts:8,422 Points:1,927,885 Joined:Jul 2007	Message Posted: Jan 15, 2013 11:48:17 PM Ignore Rageagainsttm Report Abuse For how long is the question.
DCbeachbum Champion Author South Carolina Posts:2,667 Points:926,365 Joined:May 2010	Message Posted: Jan 15, 2013 11:46:46 PM Ignore DCbeachbum Report Abuse The stronger dollar is the real news in this story. The crude dropping a few cents, not so much. However, I will take anything that may drop prices at the pump.
Eugenian Champion Author Oregon Posts:2,007 Points:389,830 Joined:Oct 2009	Message Posted: Jan 15, 2013 11:44:16 PM Ignore Eugenian Report Abuse Up or down, down or up. Every day it's up or down, down or up.
REKEY Champion Author South Carolina Posts:8,723 Points:1,727,095 Joined:May 2008	Message Posted: Jan 15, 2013 11:43:56 PM Ignore REKEY Report Abuse The dollar rebounded? Wow!
us4usa Champion Author Missouri Posts:6,120 Points:1,137,585 Joined:May 2008	Message Posted: Jan 15, 2013 11:43:44 PM Ignore us4usa Report Abuse Higher oil prices higher gas prices, lower oil prices higher gas prices...
cheap59 Champion Author Michigan Posts:4,240 Points:983,270 Joined:May 2010	Message Posted: Jan 15, 2013 11:42:58 PM Ignore cheap59 Report Abuse GOOD!!
Somis1 Champion Author Ventura Posts:13,830 Points:2,642,475 Joined:Jul 2005	Message Posted: Jan 15, 2013 11:37:48 PM Ignore Somis1 Report Abuse Wow, all of thirty nine cents!
melvindale Champion Author Michigan Posts:1,438 Points:351,230 Joined:Jun 2011	Message Posted: Jan 15, 2013 11:37:43 PM Ignore melvindale Report Abuse Hurrah!
Buddy2264 Champion Author Tampa Posts:11,797 Points:2,387,670 Joined:Oct 2005	Message Posted: Jan 15, 2013 11:37:12 PM Ignore Buddy2264 Report Abuse Now we would be happy at $3.00 when once it was $2.00. The only way to win, some, is with better MPG, but then price will just catch up as they will maintain the same profit margins and other costs will go up. There will be a good alternative and we will find it.
SoutheastdannyB All-Star Author Grand Rapids Posts:590 Points:581,880 Joined:Jul 2007	Message Posted: Jan 15, 2013 11:36:21 PM Ignore SoutheastdannyB Report Abuse hope it keeps going down.
Mikeyl Champion Author Cleveland Posts:5,302 Points:1,211,595 Joined:Aug 2004	Message Posted: Jan 15, 2013 11:35:25 PM Ignore Mikeyl Report Abuse Less than a 1% drop and we've made the top five news? We have become Big Brother upon ourselves. We want every bit of information we can access... and for what? What good can we make from this? Nothing. We are consumers. Not oil executives, producers, or refiners. What is this world coming to?
Is246 Champion Author Albuquerque Posts:1,044 Points:443,535 Joined:Apr 2011	Message Posted: Jan 15, 2013 11:33:00 PM Ignore Is246 Report Abuse Keep going down.
BCM1 Champion Author Pennsylvania Posts:1,879 Points:786,420 Joined:Jun 2007	Message Posted: Jan 15, 2013 11:32:01 PM Ignore BCM1 Report Abuse QE3 has hurt americans. That's why the dollar is worth less, soon to be worthless. [Edited by: BCM1 at 1/15/2013 11:32:30 PM EST]
tutaw Champion Author Kentucky Posts:3,759 Points:870,220 Joined:Sep 2008	Message Posted: Jan 15, 2013 11:31:24 PM Ignore tutaw Report Abuse good news
OCTAPA Veteran Author Toronto Posts:495 Points:505,330 Joined:May 2011	Message Posted: Jan 15, 2013 11:29:43 PM Ignore OCTAPA Report Abuse Not here, doesn't go down for weeks...
geoutpb Champion Author Midland Odessa Posts:4,718 Points:1,085,135 Joined:Dec 2006	Message Posted: Jan 15, 2013 11:23:03 PM Ignore geoutpb Report Abuse Price needs to keep going up.
Carol7777 All-Star Author Houston Posts:864 Points:175,685 Joined:Dec 2012	Message Posted: Jan 15, 2013 11:21:16 PM Ignore Carol7777 Report Abuse Let's hope it keeps moving in that diection.