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GasBuddy News Article

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Oil futures hurt by inventory data, euro-zone PMI

MarketWatch -- LONDON (MarketWatch) — Oil futures extended their losses on Thursday, falling sharply amid a rising dollar and after data showing higher-than-expected U.S. crude inventories, while weak euro-zone further hampered sentiment.

April U.S. crude oil /quotes/zigman/2291772 CLJ3 -1.61% lost $1.24, or 1.3%, to trade at $94.02 a barrel, adding to the heavy losses suffered on the New York Mercantile Exchange the previous day.

The April contract had dropped $1.88, or 1.9%, during the Wednesday Nymex session, partly due to concern over a large block of sales, as well as talk that Saudi Arabia may raise its crude production. Read: Oil ends lower; large trade spurs fund speculation

Meanwhile, rival London-traded Brent North Sea crude also lost ground Thursday. April Brent futures /quotes/zi


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Submitted Feb 21, 2013 By: WxVette
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REPLIES (newest first) Post a Reply
Canucktree
Champion Author Alberta

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Message Posted: Feb 22, 2013 10:16:41 AM

Yawn.
afghaned
Champion Author Ottawa

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Message Posted: Feb 22, 2013 2:23:32 AM

Gas keeps up the climb.
NedW
Champion Author Indianapolis

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Message Posted: Feb 22, 2013 1:10:39 AM

Thank you for submitting this article, WxVette.
KhelbenArunson
Champion Author Michigan

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Message Posted: Feb 21, 2013 11:36:23 PM

Good.
MotoDad
Champion Author Phoenix

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Message Posted: Feb 21, 2013 11:35:15 PM

go down more
montytexas
Champion Author Houston

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Message Posted: Feb 21, 2013 10:55:21 PM

Let us wait and see what happens over the next few months as we emerge from winter to spring.....
scubadaniel
Champion Author Dayton

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Message Posted: Feb 21, 2013 10:14:18 PM

OMG.
milespergallon
Champion Author Illinois

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Message Posted: Feb 21, 2013 10:00:41 PM

Another interesting time where the pump prices skyrocketed immediately and we wait and wait and wait and wait and wait for the drip down when oil drops
BKool
Champion Author Michigan

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Message Posted: Feb 21, 2013 9:58:31 PM

ok
AKmailman
Champion Author Alaska

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Message Posted: Feb 21, 2013 9:57:29 PM

Why should we care how they do it in Europe?
We have all the oil be need here and in Canada
Chillywilly
Champion Author Winnipeg

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Message Posted: Feb 21, 2013 9:56:01 PM

Right on, Pete12!
Blue48
Champion Author Illinois

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Message Posted: Feb 21, 2013 9:55:04 PM

WHATEVER!
colaguy
Champion Author Columbia

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Message Posted: Feb 21, 2013 9:54:23 PM

ok
bababooey2
Champion Author Hartford

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Message Posted: Feb 21, 2013 9:45:59 PM

No it is hurt by blood sucking speculators.
Pete12
Champion Author Albany

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Message Posted: Feb 21, 2013 9:42:34 PM

You mean oil futures were helped, in the eyes of the consumer.
dasimon
All-Star Author Florida

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Message Posted: Feb 21, 2013 9:40:30 PM

For how long though.
sickhp
Champion Author San Antonio

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Message Posted: Feb 21, 2013 9:39:59 PM

Drill baby drill.
barbs24
Champion Author Virginia Beach

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Message Posted: Feb 21, 2013 9:39:53 PM

I'm sick of this.
texasvet
Champion Author Texas

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Message Posted: Feb 21, 2013 9:39:46 PM

OPEC will go back to manipulating the world supply to get the price back up.
Spankster85
Champion Author Chicago

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Message Posted: Feb 21, 2013 9:32:25 PM

Alrighty then.
medic319
All-Star Author Akron

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Message Posted: Feb 21, 2013 9:32:11 PM

Hopefully the price is still down at the close of the contract. It usually falls in time to buy and miraculously recovers just in time to close the contract. market manipulation anyone?
yeehaw1073
Champion Author Indiana

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Message Posted: Feb 21, 2013 9:31:33 PM

still waiting for gas prices to see any significant change from this.
briinnc
Champion Author North Carolina

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Message Posted: Feb 21, 2013 9:26:59 PM

They're hurting us.
GoGoGoodyear
Champion Author Los Angeles

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Message Posted: Feb 21, 2013 9:25:18 PM


Oh well, they gambled and this time they lost. Either way it hasn't helped the gasoline prices.
CheapDiesel
Champion Author Indianapolis

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Message Posted: Feb 21, 2013 9:25:18 PM

It seems at some point somebody would figure out that this lousy economy will not support the artificially high prices. Considering the track record of the POTUS, there will not be any improvement in the economy for at least another 4 years.
camel1
Champion Author Minnesota

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Message Posted: Feb 21, 2013 9:24:20 PM

nice break. will retail prices adjust downward? I doubt we will see it soon.
mst150
Champion Author Detroit

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Message Posted: Feb 21, 2013 9:23:45 PM

Yes
Ken2OD
Champion Author Grand Rapids

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Message Posted: Feb 21, 2013 9:22:47 PM

"Number scrambling" based on oil speculation is a big joke!
Mystikal1
Veteran Author Akron

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Message Posted: Feb 21, 2013 9:21:04 PM

Oil futures hurt by inventory data while I'm hurt by ridiculous gas prices. Guess who is hurting more.
swrestler
Champion Author Grand Rapids

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Message Posted: Feb 21, 2013 9:19:40 PM

Then Why Are Gas Prices Still Going Up????
DABEE1073
Champion Author San Diego

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Message Posted: Feb 21, 2013 9:18:48 PM

Don't your heart just pump 'you know what' for them.
Wierbe
Champion Author Cincinnati

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Message Posted: Feb 21, 2013 9:15:34 PM

SOMEbody's making a killing on the mess and it sure isn't me!
bevmill
Champion Author Georgia

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Message Posted: Feb 21, 2013 9:10:22 PM

Okay, but gas prices are still going up, up and away.
s6sputnik
Champion Author Austin

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Message Posted: Feb 21, 2013 9:08:03 PM

Makes you sick!
ESCORT6768
Champion Author Iowa

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Message Posted: Feb 21, 2013 9:07:53 PM

Inventories up, crude oil prices down, price at the pump keeps going up. When is the government going to step in and deal with these price gouging crooks?
mplato
Champion Author Columbia

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Message Posted: Feb 21, 2013 9:02:12 PM

inventory in this industry means nothing to prices
gobux10
Champion Author Ohio

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Message Posted: Feb 21, 2013 9:01:49 PM

Just a game for some
dollarwatcher
Champion Author Wisconsin

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Message Posted: Feb 21, 2013 9:01:28 PM

Hope the local pump jocks see this article. Went up another 5 cents today to 3.79.
rampower80
Champion Author Kentucky

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Message Posted: Feb 21, 2013 8:55:46 PM

Oil needs to be about half what it currently is based up growing inventory levels and slightly receeding demand.
slowpoke63
Champion Author Louisiana

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Message Posted: Feb 21, 2013 8:54:24 PM

While pump prices continue to climb!
gass12
Champion Author Omaha

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Message Posted: Feb 21, 2013 8:53:02 PM

More Bull.
StraKat
Champion Author Ohio

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Message Posted: Feb 21, 2013 8:52:28 PM

The higher the price, the less I drive.
TXHUNTER1
Champion Author Austin

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Message Posted: Feb 21, 2013 8:52:12 PM

Prices keep going up.
DEG
Champion Author Las Vegas

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Message Posted: Feb 21, 2013 8:50:50 PM

The US economy will slow with the ever rising gas prices.
liz72601
Rookie Author Arkansas

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Message Posted: Feb 21, 2013 8:50:26 PM

they are not getting their money so they put it on us poor people who can't afford to fill up their tanks and can't get in to the doctors but the government says that is ok by them
snagged
Veteran Author Akron

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Message Posted: Feb 21, 2013 8:49:21 PM

Gas is down here by a few pennys.
Christiankm
Rookie Author Boston

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Message Posted: Feb 21, 2013 8:46:21 PM

more oil bullshit
sent4456
Champion Author Toronto

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Message Posted: Feb 21, 2013 8:43:45 PM

Just because people like you and me driving less.

falcons
Champion Author North Dakota

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Message Posted: Feb 21, 2013 8:40:00 PM

force specutlators totake delivery and store their oil/gas for a mimimun of THREE months
darkknight1
Champion Author Winston-Salem

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Message Posted: Feb 21, 2013 8:39:43 PM

Then gas should drop but it isn't. So...
wshutton
Champion Author Albuquerque

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Message Posted: Feb 21, 2013 8:37:29 PM

This brings up an old question. What is the difference between a wholesale price increase and wholesale price decrease? Republican speculators make more money with a wholesale price decrease.
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