Not Logged In Log In   Sign Up   Points Leaders
Follow Us    7:14 AM

GasBuddy News Article

36
votes
Oil Drops a Second Day on Concern Prices Near 9-Month High May Curb Demand

Bloomberg -- Oil dropped for a second day in London on growing speculation that demand may be curbed by a rally that has driven prices to a nine-month high.

Brent futures slid as much as 0.9 percent after falling for the first time in six days yesterday. Demand for oil may deteriorate after London-traded Brent rose to a record high when priced in euros and pounds, according to Morgan Stanley. U.S. supplies probably rose to the highest level in five months last week, a Bloomberg News survey showed before a report from the Energy Department tomorrow...

...West Texas Intermediate narrowed its discount to Brent for a second day after TransCanada Corp. said it will proceed with building a $2.3 billion segment of the Keystone XL oil pipeline from Oklahoma to the Texas coast.


Read the Full Article

Submitted Feb 28, 2012 By: johntxx
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Drops a Second Day on Concern Prices Near 9-Month High May Curb Demand Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
335d1
Champion Author Virginia

Posts:4,871
Points:1,308,720
Joined:Feb 2011
Message Posted: Feb 29, 2012 4:01:52 AM

Too bad gas prices won't reflect it.
Profile Pic
fishnhuntWV
Veteran Author West Virginia

Posts:354
Points:81,585
Joined:Aug 2011
Message Posted: Feb 28, 2012 11:04:59 AM

Non corn ethanol, more drilling here, coal to gas, turn waste like animal fat into biodiesel, grow algae from exhaust of power plants
Profile Pic
clpassenubye
Champion Author Los Angeles

Posts:3,548
Points:1,233,690
Joined:Mar 2011
Message Posted: Feb 28, 2012 10:36:58 AM

Considered demand and some peoples cars curbed.
Profile Pic
doctorindyj
Champion Author Santa Fe

Posts:4,899
Points:1,367,560
Joined:Nov 2009
Message Posted: Feb 28, 2012 8:07:32 AM

May curb demand? Demand has been curbed and then some.
Profile Pic
investmentdr
Champion Author Cleveland

Posts:6,013
Points:1,997,270
Joined:Sep 2008
Message Posted: Feb 28, 2012 6:26:06 AM

two days in a row
Profile Pic
lcleveland
Champion Author San Antonio

Posts:3,763
Points:1,151,180
Joined:May 2011
Message Posted: Feb 28, 2012 6:01:19 AM

demand has dropped but the prices are still going up
Profile Pic
Joeski1
Champion Author New Jersey

Posts:13,216
Points:2,318,010
Joined:Dec 2004
Message Posted: Feb 28, 2012 5:53:45 AM

demand will drop where?

the world is sucking up every drop we don't use....

the only ones that get hurt are the ones who are still stuck in the 15 MPG past....

pity the fool who doesn't get at least 25 MPG...

Profile Pic
DerHahn
Champion Author Illinois

Posts:16,689
Points:2,675,355
Joined:May 2004
Message Posted: Feb 28, 2012 5:37:05 AM

demand has been dropping for several years already. these prices just drop usage even further.
Profile Pic
Goatroper
Champion Author Dallas

Posts:8,158
Points:1,661,065
Joined:Apr 2004
Message Posted: Feb 28, 2012 5:36:28 AM

"DerHahn" put it best:
1. require that all sellers of futures contracts have the actual underlying commodity on hand in physical inventory, or be in the day-to-day business of drilling for it, mining it, growing it, etc. Enforce this by random on-site inspection. Violation will be a federal felony with mandatory minimum incarceration on the first offense.

2. require that all buyers of futures contracts have the physical ability to take actual delivery of the underlying commodity. Enforce this by random on-site inspection. Violation will be a federal felony with mandatory minimum incarceration on the first offense.

3. eliminate the practice known as "naked short-selling."

4. reinstate the up-tick rule for all short sales.

5. reinstate the recently repealed Glass Steagal act and get bankers out of the trading business, and traders out of the banking business.

And one more point:

6. require that all 'long' positions in commodities futures be transacted in the CASH ACCOUNT and not in the MARGIN ACCOUNT. Want to buy a contract? Fine - pay cash for it - all of it. And along with this, require that all short positions be "against the box" in the CASH ACCOUNT. If you don't know what "against the box" means, please look it up!

Please note that the above provisions do NOT make "speculation illegal."

What they do is to return the commodities markets and their exchanges to the original purpose: to provide a market and a liquidity to people and companies involved in the day-to-day production of the commodity.
Profile Pic
Nicoalbum
Champion Author Ottawa

Posts:8,850
Points:1,762,660
Joined:Jan 2010
Message Posted: Feb 28, 2012 5:20:56 AM

It's another trick - gas prices stay outrageously high ang going up more.
Profile Pic
dgerst
Champion Author South Carolina

Posts:4,192
Points:1,034,010
Joined:Aug 2008
Message Posted: Feb 28, 2012 5:11:23 AM

Yeah! Keep falling.
Profile Pic
alwaysridin88
Champion Author Ohio

Posts:2,831
Points:1,084,245
Joined:Jul 2011
Message Posted: Feb 28, 2012 5:06:25 AM

What do they expect? Raise the prices and demand drops- does this take a genius?
Profile Pic
brbaritone
Champion Author Virginia

Posts:3,528
Points:2,243,745
Joined:Jan 2007
Message Posted: Feb 28, 2012 5:02:03 AM

Wadda buncha baloney. Demand has been low for over 3 years. The 'rally' in gasoline prices has driven demand to the lowest level in 10 years. The market is only figuring this out NOW?
Profile Pic
Evilmaddog
Champion Author British Columbia

Posts:5,811
Points:1,531,275
Joined:Aug 2010
Message Posted: Feb 28, 2012 5:01:44 AM

really...go figure
Profile Pic
doeslayersr
Champion Author Illinois

Posts:12,156
Points:1,446,730
Joined:Dec 2010
Message Posted: Feb 28, 2012 5:01:22 AM

No country or economy in history has every grown by conserving the use of energy. Energy is the life blood of any industry. And no, government is not an industry.

[Edited by: doeslayersr at 2/28/2012 8:01:45 AM EST]
Profile Pic
bills299
Champion Author Atlanta

Posts:5,785
Points:1,473,235
Joined:May 2005
Message Posted: Feb 28, 2012 4:56:15 AM

Now they worry about demand!!
Profile Pic
wrunner
Champion Author Virginia

Posts:6,995
Points:1,711,790
Joined:Dec 2009
Message Posted: Feb 28, 2012 4:56:10 AM

Drop, really? Or just a pause.

The calm before the storm.
Profile Pic
qwerty17
Champion Author New Jersey

Posts:5,686
Points:1,665,565
Joined:Oct 2009
Message Posted: Feb 28, 2012 4:52:24 AM

use less to thwart the evil-doers.
Profile Pic
Rockyguitar
Champion Author Tampa

Posts:4,962
Points:1,761,320
Joined:Sep 2008
Message Posted: Feb 28, 2012 4:40:30 AM

Do they post the same story with different headlines?
Profile Pic
kenji554
Champion Author Charlotte

Posts:1,224
Points:949,635
Joined:Jun 2011
Message Posted: Feb 28, 2012 4:35:08 AM

I hope the price crashes and many of these speculators loose lots of money.
Profile Pic
OTISFL
Champion Author Pensacola

Posts:5,993
Points:1,160,510
Joined:Apr 2009
Message Posted: Feb 28, 2012 4:32:31 AM

More speculation, just the word itself is disgusting!
Profile Pic
matman01
Champion Author Detroit

Posts:17,634
Points:2,525,860
Joined:May 2007
Message Posted: Feb 28, 2012 4:29:02 AM

Gasoline prices are a joke right now!
Post a reply Back to Topics