Not Logged In Log In   Sign Up   Points Leaders
Follow Us    9:11 AM

GasBuddy News Article

45
votes
WTI Oil Drops a Second Day; Saudi Exports Fall to 15-Month Low

Bloomberg -- est Texas Intermediate oil fell for a second day, extending the biggest drop in two weeks, while Brent futures advanced. Saudi Arabia’s crude shipments slid to a 15-month low in December.
New York crude declined as much as 0.4 percent. Data from the Federal Reserve showed U.S. industrial production unexpectedly shrank in January. Saudi Arabia exported 7.06 million barrels of crude a day in December, the least since September 2011, according to the Joint Organisations Data Initiative. Gasoline futures climbed a third day and Brent’s premium to WTI widened as the London-traded contract rose.
“There still seems to be plenty of crude around,” said Anthony Nunan, a senior adviser for risk management at Mitsubishi Corp. in Tokyo. “The market went up so much in the last month and a half that it


Read the Full Article

Submitted Feb 18, 2013 By: mastermariner
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: WTI Oil Drops a Second Day; Saudi Exports Fall to 15-Month Low Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,002
Points:2,224,415
Joined:Nov 2008
Message Posted: Feb 24, 2013 6:57:32 AM

and pump prices are climbing again.
Profile Pic
GatorGuy
Champion Author Columbia

Posts:3,890
Points:1,757,585
Joined:Jan 2009
Message Posted: Feb 18, 2013 2:56:18 PM

drop, low, why aren't these adjectives describing our current gas prices?
Profile Pic
humblepie
Champion Author Toledo

Posts:57,755
Points:2,987,120
Joined:Mar 2006
Message Posted: Feb 18, 2013 2:40:32 PM

with the world economy in tatters , not surprising
Profile Pic
11SilveradoMN
Champion Author Minnesota

Posts:1,978
Points:636,870
Joined:Aug 2011
Message Posted: Feb 18, 2013 2:09:35 PM

I hate being held hostage!
Profile Pic
npt
Veteran Author Raleigh

Posts:437
Points:329,275
Joined:Oct 2009
Message Posted: Feb 18, 2013 1:26:34 PM

Looks like nexus within oil cos... no change in price at local stations!
Profile Pic
ss70
Champion Author Detroit

Posts:12,904
Points:2,446,405
Joined:Sep 2005
Message Posted: Feb 18, 2013 12:07:46 PM

Time to cut OPEC to size .
Profile Pic
cssco
Champion Author Virginia

Posts:9,854
Points:2,351,015
Joined:Feb 2006
Message Posted: Feb 18, 2013 11:15:39 AM

When it is all said and done, the pump goes up and stays there longer than the when they are low. It's a wonderful system, Big Pig Oil gets you coming and going.
Profile Pic
CDMAuto
Champion Author Connecticut

Posts:6,385
Points:1,363,440
Joined:Apr 2011
Message Posted: Feb 18, 2013 10:33:30 AM

You Use less.... They charge more... they need to maintain profits to stay in business.... PROBLEM.. .if you use more They maintain and still raise Prices.... They Make higher profits Then CEO's. Get A Fat bouns. No Matter which way we go, We the consumer get the shaft.
Profile Pic
condé
Champion Author Michigan

Posts:5,238
Points:2,178,495
Joined:Oct 2004
Message Posted: Feb 18, 2013 10:33:01 AM

And our prices continue to climb!
Profile Pic
Somis1
Champion Author Ventura

Posts:16,276
Points:3,189,955
Joined:Jul 2005
Message Posted: Feb 18, 2013 10:10:52 AM

Plenty of supply and near record prices! Go figure.
Profile Pic
Red7002011
Champion Author Mississippi

Posts:5,958
Points:1,278,625
Joined:Jul 2011
Message Posted: Feb 18, 2013 10:06:16 AM

Really!
Profile Pic
treehood
Champion Author San Diego

Posts:4,718
Points:1,010,310
Joined:May 2011
Message Posted: Feb 18, 2013 10:05:03 AM

I have not heard any explanation from the oil/gas suppliers about the high prices. Has anyone asked them?
Profile Pic
beekeeper1
Champion Author Indiana

Posts:3,161
Points:1,144,120
Joined:Dec 2010
Message Posted: Feb 18, 2013 10:03:53 AM

Does it really pay to conserve? History shows that when we use less the supplier and government increase prices and taxes so as not to be adversely affected. The consumers still gets shafted for doing a good job.
Profile Pic
bigLtowing
Champion Author Columbus

Posts:4,706
Points:1,139,290
Joined:Aug 2011
Message Posted: Feb 18, 2013 10:03:49 AM

just ripping us off
Profile Pic
theWizK
Champion Author Columbus

Posts:1,614
Points:897,735
Joined:May 2007
Message Posted: Feb 18, 2013 10:03:26 AM

Geesh
Profile Pic
slgas
Champion Author Houston

Posts:8,722
Points:2,175,865
Joined:Oct 2008
Message Posted: Feb 18, 2013 10:03:21 AM

Maybe we should all go out and buy a few oil contracts. Can you buy a contract for less than a tanker load? Need to check my credit card limits first.
Profile Pic
gcalleja
Champion Author Miami

Posts:2,958
Points:1,129,870
Joined:May 2011
Message Posted: Feb 18, 2013 10:02:33 AM

I hope gas prices start dropping soon.
Profile Pic
Hangnail309
Champion Author Manitoba

Posts:8,589
Points:2,273,060
Joined:Aug 2006
Message Posted: Feb 18, 2013 10:02:26 AM

Will this mean that there will be drop in pump prices? and when?
Profile Pic
FlyNFool
Champion Author South Carolina

Posts:10,793
Points:2,294,745
Joined:Aug 2008
Message Posted: Feb 18, 2013 10:02:02 AM

Just temporary.
Profile Pic
porotito
Champion Author Houston

Posts:2,276
Points:615,055
Joined:Dec 2010
Message Posted: Feb 18, 2013 10:01:03 AM

Excuses to make gas prices rise...
Profile Pic
2962
Champion Author Omaha

Posts:3,647
Points:519,685
Joined:Feb 2006
Message Posted: Feb 18, 2013 10:00:24 AM

"U.S. industrial production unexpectedly shrank in January." Pick a metric and go buy some options....
Profile Pic
swkcpi
Champion Author Madison

Posts:3,608
Points:527,420
Joined:Nov 2010
Message Posted: Feb 18, 2013 9:59:41 AM

The price fixing of oil is nothing but a joke. If speculators were required to take delivery of they oil they trade the price would be around $30 and we'd be paying less than a dollar at the pump.
Profile Pic
LuthierKS
Champion Author Wichita

Posts:6,688
Points:1,313,950
Joined:Apr 2011
Message Posted: Feb 18, 2013 9:59:13 AM

If this continues it will eventually be reflected in fuel prices.
Profile Pic
INBwana
Champion Author Indiana

Posts:12,474
Points:1,309,065
Joined:Apr 2011
Message Posted: Feb 18, 2013 9:58:59 AM


It drops, it raises, it drops again and it raises again! The same with gas prices. SO WHAT IS NEW!!!!
Profile Pic
BillHeatherL
Champion Author Alberta

Posts:10,171
Points:2,497,845
Joined:Apr 2007
Message Posted: Feb 18, 2013 9:58:27 AM

and gas prices are on the way up
Profile Pic
Cloclo103
Champion Author Ottawa

Posts:1,813
Points:647,310
Joined:Aug 2011
Message Posted: Feb 18, 2013 9:57:47 AM

And the gas prices are still going up!!!!!!!!!!!!!!
Profile Pic
BossPal
Champion Author Illinois

Posts:2,524
Points:770,755
Joined:Mar 2012
Message Posted: Feb 18, 2013 9:56:47 AM

Ok
Profile Pic
Hugo40
Champion Author Kentucky

Posts:10,220
Points:2,219,435
Joined:Aug 2008
Message Posted: Feb 18, 2013 9:55:51 AM

No drop in pump prices.
Profile Pic
zaq001
Champion Author Atlanta

Posts:6,637
Points:2,087,545
Joined:Oct 2008
Message Posted: Feb 18, 2013 9:55:50 AM

This is all about prices. They want to keep them artificially high.
Profile Pic
hyeglenn
Champion Author Fresno

Posts:3,498
Points:1,199,320
Joined:Apr 2011
Message Posted: Feb 18, 2013 9:55:36 AM

If you can't take advantage of yourself someone else will.
Profile Pic
LucsPapa
Champion Author New Brunswick

Posts:1,673
Points:1,588,675
Joined:Jan 2010
Message Posted: Feb 18, 2013 9:55:30 AM

GOOD!!
Profile Pic
sdiddydaddy
Champion Author Grand Rapids

Posts:1,159
Points:860,655
Joined:Jan 2012
Message Posted: Feb 18, 2013 9:53:46 AM

@jimmy554 - right on
Profile Pic
thomas41546
Champion Author Tennessee

Posts:6,401
Points:2,871,910
Joined:Oct 2005
Message Posted: Feb 18, 2013 9:53:39 AM

we have plenty of supply, refineries are capping at 65 %
Profile Pic
Bubba44612
Champion Author Ohio

Posts:9,953
Points:2,484,340
Joined:Aug 2005
Message Posted: Feb 18, 2013 9:53:33 AM

And gas just keeps going up. Makes sense to me.
Profile Pic
TuanCanCook
Champion Author Los Angeles

Posts:227,963
Points:1,264,890
Joined:Jun 2011
Message Posted: Feb 18, 2013 9:53:32 AM

You're so right Discovery02!
Profile Pic
dcoxdcox44
Champion Author New Hampshire

Posts:1,028
Points:562,110
Joined:Aug 2011
Message Posted: Feb 18, 2013 9:53:18 AM

you all complain about the prices...and then just keep on paying.

I just shake my head when I see a big macho 4WD pickup pulling a trailer full of snowmobiles up the highway to the mountains at 75 mph...figuring the driver is just pissin' and moanin' about the price of gas all the way.
Profile Pic
jimmy544
Champion Author Boston

Posts:7,148
Points:1,211,905
Joined:Feb 2011
Message Posted: Feb 18, 2013 9:53:09 AM

Prices are disconnected from supply of gasoline and demand for it. This is called manipulation.
Profile Pic
Discovery02
Champion Author Colorado Springs

Posts:7,530
Points:906,445
Joined:May 2012
Message Posted: Feb 18, 2013 9:52:35 AM

So Big Oil is simply "resting" to prepare for their next big gas price run-up.
Profile Pic
Barfood
Champion Author St. Louis

Posts:3,832
Points:1,510,560
Joined:Jun 2009
Message Posted: Feb 18, 2013 9:51:37 AM

Yeah, after a huge run-up in gasoline prices.
Profile Pic
nanu4u21
Champion Author Orange County

Posts:1,787
Points:744,425
Joined:Aug 2012
Message Posted: Feb 18, 2013 9:50:59 AM

Nothing reflecting at the pumps yet
Profile Pic
msgt_usa
Champion Author Virginia

Posts:5,838
Points:1,487,070
Joined:Sep 2008
Message Posted: Feb 18, 2013 9:50:55 AM

If oil is dropping why is gas rising.
Profile Pic
techque
Champion Author St. Louis

Posts:11,102
Points:2,837,865
Joined:Apr 2005
Message Posted: Feb 18, 2013 9:50:50 AM

around here petrol has jumped more than half a loonie/gallon in the last month.
Profile Pic
mycar2
Champion Author Akron

Posts:4,306
Points:2,935,850
Joined:Apr 2004
Message Posted: Feb 18, 2013 9:50:10 AM

and yet the prices jump to all time winter high, why?
Profile Pic
naspa
Champion Author Cleveland

Posts:4,020
Points:965,150
Joined:Jan 2012
Message Posted: Feb 18, 2013 9:48:57 AM

This guy who wrote this article should get together with the guy that write about increased oil demand forecasts od OPEC. sit, talk it over and agree to one single article that people can make senf of.
Profile Pic
Wolfwings
Champion Author Delaware

Posts:11,241
Points:2,382,585
Joined:May 2004
Message Posted: Feb 18, 2013 9:48:25 AM

Awwwww.... poor saudis. Maybe, now they know how the rest of the world felt when they were RAPING the other economies.

Some of them may even have to scrap their GOLD and SILVER vehicles.
Profile Pic
fatboy97
Champion Author Twin Cities

Posts:5,100
Points:2,317,000
Joined:Aug 2007
Message Posted: Feb 18, 2013 9:48:12 AM

Anything to drive up gas prices!!!
Profile Pic
sljbc475
Champion Author Tucson

Posts:6,828
Points:1,481,850
Joined:Dec 2010
Message Posted: Feb 18, 2013 9:47:06 AM

Let it fall and prices at the pump too.
Profile Pic
blitzntj
Champion Author Jacksonville

Posts:6,335
Points:1,310,185
Joined:Dec 2007
Message Posted: Feb 18, 2013 9:47:05 AM

And yet the price at the pump is sky rocketing
Profile Pic
FieroGT
Champion Author Twin Cities

Posts:16,573
Points:2,958,260
Joined:Mar 2005
Message Posted: Feb 18, 2013 9:46:45 AM

Our area pump price is now $3.77/gal. Two months ago the pump price got down to $2.85/gal. How is that possible ... it must be a conspiracy!
Profile Pic
TXGasPriceSpy
Champion Author Fort Worth

Posts:10,470
Points:2,080,250
Joined:Sep 2008
Message Posted: Feb 18, 2013 9:46:24 AM

Bad and getting worse.
Post a reply Back to Topics