GasBuddy News Article

votes

US Crude May Slip Below $100 as Supply Risks Ease: Analysts

CNBC -- U.S. crude oil futures may test $100 a barrel this week and possibly breach key support as Saudi exports replenish U.S. stockpiles and supply risks ease, technical analysts and strategists said Wednesday.

Sandy Jadeja, Chief Technical Analyst at City Index, said the charts suggest U.S. futures may drop to $98 a barrel, and if that level is broken, momentum could accelerate taking the crude to as low as $87.

Oil prices contained below $100 would help alleviate the strain on the U.S. consumer, offering some relief to the broader economy. A gallon of gasoline cost $3.94 at the pump last week, two cents higher than the previous week and 5.9 percent more expensive than a year earlier, MasterCard said in its weekly Spending Pulse report on Tuesday.

Read the Full Article

Submitted Apr 12, 2012 By: eromitlab

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: US Crude May Slip Below $100 as Supply Risks Ease: Analysts	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First

Next Last

honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Apr 16, 2012 6:56:33 AM Ignore honda0105 Report Abuse gbs: all for it, except, look around you about the waste people still think is necessary.
GOBUTLER Champion Author Indianapolis Posts:1,425 Points:391,035 Joined:Dec 2011	Message Posted: Apr 14, 2012 9:14:30 AM Ignore GOBUTLER Report Abuse Interesting...
gbs1 Champion Author Minnesota Posts:2,016 Points:745,525 Joined:Mar 2011	Message Posted: Apr 13, 2012 11:37:18 PM Ignore gbs1 Report Abuse Lets use less and produce more here to reduce our reliance on imported oil
CDMAuto Champion Author Connecticut Posts:3,806 Points:756,780 Joined:Apr 2011	Message Posted: Apr 13, 2012 7:56:24 PM Ignore CDMAuto Report Abuse Lets get moveing on this
sparky808 Champion Author Honolulu Posts:3,018 Points:601,635 Joined:Sep 2011	Message Posted: Apr 13, 2012 2:14:51 PM Ignore sparky808 Report Abuse Thank you for posting.
gawxnative All-Star Author Atlanta Posts:510 Points:229,965 Joined:Aug 2006	Message Posted: Apr 13, 2012 8:38:22 AM Ignore gawxnative Report Abuse May slip? If true supply/demand they wouldn't have got here in the first place
2907 Champion Author Kentucky Posts:1,594 Points:863,645 Joined:Aug 2005	Message Posted: Apr 13, 2012 7:09:55 AM Ignore 2907 Report Abuse I like " May Slip"!!!!
gocatgo Champion Author South Carolina Posts:15,674 Points:2,532,730 Joined:Apr 2006	Message Posted: Apr 13, 2012 2:27:50 AM Ignore gocatgo Report Abuse "Below $100" sounds good but refineries can and will cut gasoline output to keep gas prices up.
anascom Champion Author Hamilton Posts:1,593 Points:553,115 Joined:Feb 2011	Message Posted: Apr 13, 2012 2:07:00 AM Ignore anascom Report Abuse this is probably the best news about gas prices i read in months!
Tomeboy Champion Author Twin Cities Posts:3,789 Points:563,665 Joined:Apr 2009	Message Posted: Apr 13, 2012 1:45:04 AM Ignore Tomeboy Report Abuse Crude Oil Prices Up Second Day In A Row NEW YORK (Dow Jones)--Oil futures finished higher Thursday as equities rallied, despite a closely watched report from an energy watchdog saying that the crude-oil market is amply supplied. Light, sweet crude for May delivery settled 94 cents, or 0.9%, higher at $103.64 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange settled $1.53, or 1.3%, higher at $121.71 a barrel. Traders, however, looked past the bearish cues on Thursday, as oil prices followed broader markets higher. The Standard & Poor's 500 Index was recently up 1.4% to 1387, rising as New York Fed President William Dudley said interest rates will likely remain low. Prices were also buoyed by a weaker dollar, with the ICE Dollar Index off 0.6% to 79.289. A weaker dollar typically boosts crude prices by making the dollar-denominated commodity cheaper for holders of other currencies. "We're not up today based on a physical shortage. We're up today because the S&P 500 is up and a lot of other commodities are up," said Tim Evans, energy analyst at Citi Futures Perspective in New York. "It's a risk-on trade flow." Crude Oil Prices WTI - Current Week Date............... Close ... Change % 04/12/2012..... 103.64 ... +0.97% 04/11/2012..... 102.63 ... +1.66% 04/10/2012..... 100.95 ... -1.37% 04/09/2012..... 102.34 ... +0.16% Crude Oil Prices WTI - Previous Week Date............... Close ... Change % 04/05/2012..... Closed ... Good Friday 04/05/2012..... 103.25 ... +1.15% 04/04/2012..... 102.08 ... -1.86% 04/03/2012..... 103.98 ... -0.90% 04/02/2012..... 104.92 ... +1.45%
us4usa Champion Author Missouri Posts:6,009 Points:1,116,190 Joined:May 2008	Message Posted: Apr 13, 2012 1:17:58 AM Ignore us4usa Report Abuse I35guy: Sounds like price fixing in your area also???
kgbellman Champion Author Ann Arbor Posts:2,733 Points:735,090 Joined:Mar 2011	Message Posted: Apr 13, 2012 1:11:45 AM Ignore kgbellman Report Abuse about time . . . again
I35guy Sophomore Author Des Moines Posts:248 Points:612,580 Joined:Jan 2004	Message Posted: Apr 13, 2012 1:09:18 AM Ignore I35guy Report Abuse A day ago, the pump price in central Iowa was sitting at $3.58. Within a 5 hour time period, the couple of thousand stations within a 15 mile radius jacked their price up $0.14. About the only thing in the news of much noteworthyness was the failed N. Korean rocket launch. I bet the speculators used it as an excuse for jacking the price up, citing increase in world tensions. I've seen articles about how people are getting deluged with credit card offers. I myself get at least one a day. Economy is slowly starting to recover. Speculators are at it again (never stopped), the big banks & financial giants are back to paying top management obscene compensation to go back to risky financial gambles in the quest for get back to the days of astronomical profits.
LCSTEELERBOB Champion Author Gary Posts:2,961 Points:720,130 Joined:Oct 2008	Message Posted: Apr 13, 2012 1:07:28 AM Ignore LCSTEELERBOB Report Abuse good
BigZ1959 Champion Author Denver Posts:3,773 Points:1,466,150 Joined:Oct 2008	Message Posted: Apr 13, 2012 1:01:19 AM Ignore BigZ1959 Report Abuse down
wild3bill Champion Author New York Posts:2,546 Points:1,687,640 Joined:Nov 2005	Message Posted: Apr 13, 2012 1:00:34 AM Ignore wild3bill Report Abuse Good!
OGW Champion Author London Posts:5,334 Points:1,534,725 Joined:Sep 2005	Message Posted: Apr 13, 2012 12:58:31 AM Ignore OGW Report Abuse Bring it on down.
kgbellman Champion Author Ann Arbor Posts:2,733 Points:735,090 Joined:Mar 2011	Message Posted: Apr 13, 2012 12:56:16 AM Ignore kgbellman Report Abuse about time . . . again
SUSANCK Champion Author Chicago Posts:3,657 Points:711,380 Joined:Apr 2011	Message Posted: Apr 13, 2012 12:54:36 AM Ignore SUSANCK Report Abuse Yea.
dave1745 Champion Author Gary Posts:1,262 Points:741,500 Joined:Dec 2010	Message Posted: Apr 13, 2012 12:54:12 AM Ignore dave1745 Report Abuse good. pump prices better drop too
bvrbill Champion Author Eugene Posts:3,246 Points:521,775 Joined:Jul 2011	Message Posted: Apr 13, 2012 12:53:33 AM Ignore bvrbill Report Abuse Let's hope prices drop at the pump. Don't hold your breath.
gass12 Champion Author Omaha Posts:8,409 Points:2,307,615 Joined:Oct 2005	Message Posted: Apr 13, 2012 12:52:35 AM Ignore gass12 Report Abuse It should drop.
jerej829 Champion Author Memphis Posts:2,871 Points:696,890 Joined:May 2011	Message Posted: Apr 13, 2012 12:49:46 AM Ignore jerej829 Report Abuse Good
big_mac64 Champion Author Tennessee Posts:10,593 Points:1,485,690 Joined:May 2005	Message Posted: Apr 13, 2012 12:49:35 AM Ignore big_mac64 Report Abuse ok
Kaiyne Champion Author Chicago Posts:2,354 Points:475,740 Joined:Feb 2011	Message Posted: Apr 13, 2012 12:49:18 AM Ignore Kaiyne Report Abuse Good.
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Apr 13, 2012 12:48:13 AM Ignore jessek Report Abuse About time.
Prodaddy Champion Author Houston Posts:8,395 Points:1,898,110 Joined:May 2007	Message Posted: Apr 13, 2012 12:47:57 AM Ignore Prodaddy Report Abuse still 2 times what it should be
mitchell6597 Champion Author New Hampshire Posts:3,462 Points:728,360 Joined:Apr 2010	Message Posted: Apr 13, 2012 12:47:26 AM Ignore mitchell6597 Report Abuse Hope so.
carman11 Champion Author North Carolina Posts:3,358 Points:695,725 Joined:Jun 2011	Message Posted: Apr 13, 2012 12:46:45 AM Ignore carman11 Report Abuse OK
tucker355 Champion Author Manitoba Posts:1,722 Points:442,340 Joined:Feb 2009	Message Posted: Apr 13, 2012 12:45:38 AM Ignore tucker355 Report Abuse whatever!!
txkrb Champion Author Texas Posts:1,564 Points:640,110 Joined:May 2011	Message Posted: Apr 13, 2012 12:44:02 AM Ignore txkrb Report Abuse Old news This article is from Tuesday and was posted here on Tuesday
mdskier Champion Author Maryland Posts:9,950 Points:1,785,715 Joined:Aug 2005	Message Posted: Apr 13, 2012 12:43:47 AM Ignore mdskier Report Abuse So instead of $5.00 a gallon the experts a week ago predicted we see gas prices falling.
milespergallon Champion Author Illinois Posts:9,764 Points:1,912,260 Joined:Feb 2007	Message Posted: Apr 13, 2012 12:43:30 AM Ignore milespergallon Report Abuse It should be half that and pump prices should be a third of what it is
mstearno Champion Author Dayton Posts:8,085 Points:1,735,115 Joined:Jan 2008	Message Posted: Apr 13, 2012 12:42:08 AM Ignore mstearno Report Abuse dollar week, may hold that prediction back
JENNYHK Champion Author Chicago Posts:3,656 Points:716,470 Joined:Apr 2011	Message Posted: Apr 13, 2012 12:41:09 AM Ignore JENNYHK Report Abuse Good.
drz614 Champion Author Harrisburg Posts:2,319 Points:601,520 Joined:Aug 2011	Message Posted: Apr 13, 2012 12:40:25 AM Ignore drz614 Report Abuse ok
DriverofRed Champion Author Calgary Posts:2,198 Points:416,860 Joined:Dec 2011	Message Posted: Apr 13, 2012 12:36:25 AM Ignore DriverofRed Report Abuse ok
EmperorsFinest Champion Author Chicago Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: Apr 13, 2012 12:35:50 AM Ignore EmperorsFinest Report Abuse No way.
bluebird1 Champion Author Toronto Posts:15,750 Points:3,111,050 Joined:May 2004	Message Posted: Apr 13, 2012 12:35:08 AM Ignore bluebird1 Report Abuse Great...except gas here is jumping up last 2 days & expected to till Sat. - last increase 2.5 cents/L or $.10/gal Cdn --- likely be .25 /gal total come Sat.
beachmanglen All-Star Author Tampa Posts:679 Points:498,600 Joined:Aug 2011	Message Posted: Apr 13, 2012 12:34:27 AM Ignore beachmanglen Report Abuse The Saudi's have agreed to increase exports to the U.S. since they don't want to stockpile their excess production. Maybe a price less than $87 is possible.
RAKARWOWSKI Champion Author Chicago Posts:4,015 Points:824,050 Joined:Jan 2011	Message Posted: Apr 13, 2012 12:31:34 AM Ignore RAKARWOWSKI Report Abuse ok.
30mpg80 Champion Author Lexington Posts:10,067 Points:1,490,780 Joined:Nov 2008	Message Posted: Apr 13, 2012 12:29:32 AM Ignore 30mpg80 Report Abuse Good chance, not just 'may'
NorthglennBill Champion Author Denver Posts:7,442 Points:1,475,845 Joined:Oct 2008	Message Posted: Apr 13, 2012 12:28:31 AM Ignore NorthglennBill Report Abuse Yet, the price of gasoline continues to hit record highs. Something is really wrong with this picture.
SquawBear Champion Author Fresno Posts:6,886 Points:1,146,000 Joined:Aug 2007	Message Posted: Apr 13, 2012 12:24:11 AM Ignore SquawBear Report Abuse That's pretty crude.
petromonitor Champion Author Toronto Posts:2,392 Points:521,605 Joined:Nov 2011	Message Posted: Apr 13, 2012 12:22:58 AM Ignore petromonitor Report Abuse At the end of the day, we want to see the gas price has gone down.
Mr Tex All-Star Author Dallas Posts:884 Points:2,496,275 Joined:Jan 2004	Message Posted: Apr 13, 2012 12:18:13 AM Ignore Mr Tex Report Abuse Won't affect price at the pump.
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Apr 13, 2012 12:17:26 AM Ignore frostyWV Report Abuse the price of oil seems to no longer have any bearing on the price of gas.
blk911 Champion Author Colorado Springs Posts:2,923 Points:771,490 Joined:Nov 2004	Message Posted: Apr 13, 2012 12:11:15 AM Ignore blk911 Report Abuse Great but do you think gas will follow?
LilRedWagonIN Champion Author Indiana Posts:7,791 Points:1,558,060 Joined:Oct 2008	Message Posted: Apr 13, 2012 12:10:59 AM Ignore LilRedWagonIN Report Abuse Drop the price. The demand is still dropping.
Focus2 Champion Author Illinois Posts:7,896 Points:1,920,645 Joined:Mar 2006	Message Posted: Apr 13, 2012 12:04:40 AM Ignore Focus2 Report Abuse I can remember shopping for the cheapest prices and have paid as little as fifteen cents a gallon and got saving stamps as well! I can remember moving to another state and gasoline at that time was about .46 cents a gallon and I thought that was too high! I just found a trip ticket for 1996 and I paid .96 cents a gallon.