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GasBuddy News Article

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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


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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
honda0105
Champion Author Tallahassee

Posts:24,027
Points:2,384,665
Joined:Nov 2008
Message Posted: Feb 24, 2013 6:57:32 AM

and pump prices are climbing again.
GatorGuy
Champion Author Columbia

Posts:4,307
Points:1,905,215
Joined:Jan 2009
Message Posted: Feb 18, 2013 2:56:18 PM

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

Posts:63,709
Points:3,147,370
Joined:Mar 2006
Message Posted: Feb 18, 2013 2:40:32 PM

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

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Joined:Aug 2011
Message Posted: Feb 18, 2013 2:09:35 PM

I hate being held hostage!
npt
Veteran Author Raleigh

Posts:455
Points:403,960
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!
ss70
Champion Author Detroit

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Joined:Sep 2005
Message Posted: Feb 18, 2013 12:07:46 PM

Time to cut OPEC to size .
cssco
Champion Author Virginia

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Points:2,504,800
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.
CDMAuto
Champion Author Connecticut

Posts:6,942
Points:1,521,115
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.
condé
Champion Author Michigan

Posts:5,683
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Joined:Oct 2004
Message Posted: Feb 18, 2013 10:33:01 AM

And our prices continue to climb!
Somis1
Champion Author Ventura

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Joined:Jul 2005
Message Posted: Feb 18, 2013 10:10:52 AM

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

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Message Posted: Feb 18, 2013 10:06:16 AM

Really!
treehood
Champion Author San Diego

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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?
beekeeper1
Champion Author Indiana

Posts:3,721
Points:1,303,020
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.
bigLtowing
Champion Author Columbus

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Message Posted: Feb 18, 2013 10:03:49 AM

just ripping us off
theWizK
Champion Author Columbus

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Message Posted: Feb 18, 2013 10:03:26 AM

Geesh
slgas
Champion Author Houston

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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.
gcalleja
Champion Author Miami

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Message Posted: Feb 18, 2013 10:02:33 AM

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

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Message Posted: Feb 18, 2013 10:02:26 AM

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

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Message Posted: Feb 18, 2013 10:02:02 AM

Just temporary.
porotito
Champion Author Houston

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Message Posted: Feb 18, 2013 10:01:03 AM

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

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Points:547,575
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....
swkcpi
Champion Author Madison

Posts:4,164
Points:656,080
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.
LuthierKS
Champion Author Wichita

Posts:7,375
Points:1,470,730
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Message Posted: Feb 18, 2013 9:59:13 AM

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

Posts:14,376
Points:1,470,540
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!!!!
BillHeatherL
Champion Author Alberta

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Message Posted: Feb 18, 2013 9:58:27 AM

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

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Points:772,260
Joined:Aug 2011
Message Posted: Feb 18, 2013 9:57:47 AM

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

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Joined:Mar 2012
Message Posted: Feb 18, 2013 9:56:47 AM

Ok
Hugo40
Champion Author Kentucky

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Message Posted: Feb 18, 2013 9:55:51 AM

No drop in pump prices.
zaq001
Champion Author Atlanta

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Joined:Oct 2008
Message Posted: Feb 18, 2013 9:55:50 AM

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

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Message Posted: Feb 18, 2013 9:55:36 AM

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

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Message Posted: Feb 18, 2013 9:55:30 AM

GOOD!!
sdiddydaddy
Champion Author Grand Rapids

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Message Posted: Feb 18, 2013 9:53:46 AM

@jimmy554 - right on
thomas41546
Champion Author Tennessee

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Message Posted: Feb 18, 2013 9:53:39 AM

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

Posts:10,541
Points:2,643,550
Joined:Aug 2005
Message Posted: Feb 18, 2013 9:53:33 AM

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

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Message Posted: Feb 18, 2013 9:53:32 AM

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

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Points:717,920
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.
jimmy544
Champion Author Boston

Posts:7,737
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Message Posted: Feb 18, 2013 9:53:09 AM

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

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Points:1,053,370
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.
Barfood
Champion Author St. Louis

Posts:3,836
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Joined:Jun 2009
Message Posted: Feb 18, 2013 9:51:37 AM

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

Posts:1,982
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Message Posted: Feb 18, 2013 9:50:59 AM

Nothing reflecting at the pumps yet
msgt_usa
Champion Author Virginia

Posts:6,134
Points:1,626,870
Joined:Sep 2008
Message Posted: Feb 18, 2013 9:50:55 AM

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

Posts:11,652
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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.
mycar2
Champion Author Akron

Posts:4,901
Points:3,096,325
Joined:Apr 2004
Message Posted: Feb 18, 2013 9:50:10 AM

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

Posts:4,635
Points:1,126,625
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.
Wolfwings
Champion Author Delaware

Posts:11,773
Points:2,541,075
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.
fatboy97
Champion Author Twin Cities

Posts:5,690
Points:2,477,050
Joined:Aug 2007
Message Posted: Feb 18, 2013 9:48:12 AM

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

Posts:7,419
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Joined:Dec 2010
Message Posted: Feb 18, 2013 9:47:06 AM

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

Posts:6,601
Points:1,390,910
Joined:Dec 2007
Message Posted: Feb 18, 2013 9:47:05 AM

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

Posts:16,857
Points:3,044,555
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!
TXGasPriceSpy
Champion Author Fort Worth

Posts:11,063
Points:2,238,275
Joined:Sep 2008
Message Posted: Feb 18, 2013 9:46:24 AM

Bad and getting worse.
BigOyl
Champion Author Wichita

Posts:3,127
Points:1,061,700
Joined:Apr 2012
Message Posted: Feb 18, 2013 9:46:13 AM

Uncertainty in the Oil market, due to MANY factors (AS IS ALWAYS THE CASE YOU SIMPLETONS!), things are a little craziER at the moment. It will work itself out soon!
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