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GasBuddy News Article

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Oil futures steady after sharp recent losses

MarketWatch -- HONG KONG (MarketWatch) — U.S. crude-oil futures stabilized during Asian trading hours Wednesday as a weakened dollar lent some support to the commodity after a string of recent losses.

The front-month contract for delivery in April /quotes/zigman/2291772 CLJ3 +0.10% inched up 4 cents to $92.67 a barrel after moving about in a range between $92.58 and $92.90 in electronic trading.

The April futures had dropped 48 cents overnight on the New York Mercantile Exchange, the lowest finish for a front-month contract since late December.

Despite Wednesday’s marginal gain, oil futures are still down about 5% in February, weighed by worries over the Italian political situation, a well-supplied market and a firm dollar.

Data released by the American Petroleum Institute at the end of


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Submitted Feb 27, 2013 By: WxVette
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil futures steady after sharp recent losses Back to Topics
REPLIES (newest first) Post a Reply
sjf238
Champion Author Philadelphia

Posts:1,215
Points:650,655
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Message Posted: Feb 28, 2013 12:45:13 PM

No reason for the high prices. We are getting ripped offed.
paulydel
Champion Author Delaware

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Points:1,448,065
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Message Posted: Feb 27, 2013 7:07:09 PM

It is a shame that our dollar has gone in the toilet.
Medic55
Champion Author Columbia

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Message Posted: Feb 27, 2013 7:01:50 PM

Yeah, right.
splitrman
Champion Author Victoria

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Message Posted: Feb 27, 2013 7:00:55 PM

Won't help us.
baldyIL
Champion Author Illinois

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Message Posted: Feb 27, 2013 7:00:53 PM

ok
moregas1966
Champion Author Columbus

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Joined:Dec 2012
Message Posted: Feb 27, 2013 7:00:37 PM

ok
PoohMcGoo
Champion Author Alabama

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Message Posted: Feb 27, 2013 7:00:26 PM

Too bad the refineries are messed up. Hopefully it'll start dropping eventually.
arcaneradio
Champion Author Michigan

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Points:593,995
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Message Posted: Feb 27, 2013 6:48:15 PM

Whatever, they'll fabricate another catastrophe and jack the price of gas up to 5 or 6 dollars this year. Thank a liberal.
Pramodsharma
Champion Author Richmond

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Message Posted: Feb 27, 2013 6:42:55 PM

This is worst trend, "pick and height and become steady" STOP wasting gas not even pinch, and reduce consumption.
afghaned
Champion Author Ottawa

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Points:2,096,440
Joined:May 2004
Message Posted: Feb 27, 2013 6:40:39 PM

This current high is very disheartening.
BMWer
Champion Author Calgary

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Message Posted: Feb 27, 2013 6:40:27 PM

Let's see them fall more
gass12
Champion Author Omaha

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Message Posted: Feb 27, 2013 6:37:27 PM

Up and down.
1COR1533
Champion Author San Jose

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Message Posted: Feb 27, 2013 6:37:03 PM

crazy numbers crazy numbers
GoneUpAgain
Champion Author Atlanta

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Message Posted: Feb 27, 2013 6:34:49 PM

Futures may be down but current is sky high.
agent0077
Champion Author Colorado

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Message Posted: Feb 27, 2013 6:31:51 PM

Ok
wz
Champion Author Twin Cities

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Message Posted: Feb 27, 2013 6:29:44 PM

The people making the money from futures are just bankers that know how to stick it to the consumers. Futures trading (for any commodity) should be restricted to investors who can demonstrate the capacity to accept delivery.
saleboss
Champion Author Phoenix

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Message Posted: Feb 27, 2013 6:26:57 PM

I sure haven't seen any changes in prices at the pump!
furiousfowl
Champion Author Riverside

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Message Posted: Feb 27, 2013 6:26:03 PM

ok
Muloirea
Sophomore Author Ohio

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Joined:Jun 2012
Message Posted: Feb 27, 2013 6:17:50 PM

off bloomberg

RBOB Gasoline USd/gal. 285.65 -12.51 -4.20% Mar 13 17:12:34

Looks promising.
Correction?

[Edited by: Muloirea at 2/27/2013 6:18:32 PM EST]
bigrigAZ
Champion Author Phoenix

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Message Posted: Feb 27, 2013 6:14:33 PM

Too bad the speculators didn't lose all their investments. Up to everything they gained since 2009 to end up $0. No sympathy for them. They stick it to the guy at the pump and could care less.
slowpoke63
Champion Author Louisiana

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Message Posted: Feb 27, 2013 6:14:30 PM

Losses not "sharp" enough!
heysailor
Champion Author Pittsburgh

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Message Posted: Feb 27, 2013 6:13:47 PM

Lose some more
carefrey
Champion Author Orlando

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Message Posted: Feb 27, 2013 6:13:42 PM

Some more lies!
slowtrain
Champion Author Georgia

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Message Posted: Feb 27, 2013 6:13:17 PM

This is the next excuse to raise gas prices.
merlinMalo
Champion Author San Antonio

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Message Posted: Feb 27, 2013 6:12:45 PM

OK
BobbyVA
Champion Author Virginia Beach

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Message Posted: Feb 27, 2013 6:12:07 PM

Most of this has to do with the Fed and Mr. Ben B. devaluing the dollar contrary to what the main stream media says.
DeeLA
Champion Author Los Angeles

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Message Posted: Feb 27, 2013 6:11:18 PM

Everyone has a crystal ball to try to predict gas prices. They are all cloudy.
OuttaOfGAS
Champion Author Illinois

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Points:876,965
Joined:Dec 2012
Message Posted: Feb 27, 2013 6:10:04 PM

We just need to sit back like an audience for a magician and be amazed on his tricks and wonder?How did he do that??Just like the gas prices,sit back and watch how they go up and wonder HOW?
Isea11
Champion Author New York

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Message Posted: Feb 27, 2013 6:00:44 PM

Does this mean that we need to wait until April to see our prices go down?
GatorGuy
Champion Author Columbia

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Message Posted: Feb 27, 2013 5:21:28 PM

OK
Neely8
Champion Author Boston

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Message Posted: Feb 27, 2013 3:38:47 PM

LOL "goinwgas"! Yeah, saying that they had "losses" is like saying that Bil Gates "lost" a million dollars in the stock market today -- no big deal if you're a multi-billionare!
Jeff1944
Champion Author South Dakota

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Message Posted: Feb 27, 2013 3:34:36 PM

Let us watch and see March 1 & 4, 2013!
wulf2000
Champion Author Miami

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Message Posted: Feb 27, 2013 3:31:03 PM

My opinion oil prices are disconnected from reality.
DatThao
Champion Author Wilmington

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Message Posted: Feb 27, 2013 2:46:58 PM

Hope the dollar strengthens soon.
jobo74
Champion Author Ontario

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Message Posted: Feb 27, 2013 2:43:53 PM

losses???? hahahaha... where???
goinwgas
Champion Author Oregon

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Message Posted: Feb 27, 2013 2:00:41 PM

speculators are kinda like zombies, they just won't go away
Bigtex09
Champion Author Dallas

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Message Posted: Feb 27, 2013 2:00:25 PM

up down up down profit loss profit loss so confusing these days
fulldawg
Champion Author Georgia

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Message Posted: Feb 27, 2013 1:53:22 PM

more disconnect more price hikes
satrn38mpg
Champion Author Raleigh

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Message Posted: Feb 27, 2013 1:52:32 PM

just more of the same old same >>
lindalm25
All-Star Author Indianapolis

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Joined:Dec 2012
Message Posted: Feb 27, 2013 1:51:48 PM

Just keep in mind the following excerpt from a NY Times article...

"The High Cost of Gambling on Oil
By JOSEPH P. KENNEDY II
Published: April 10, 2012

Because of speculation, today’s oil prices of about $100 a barrel have become disconnected from the costs of extraction, which average $11 a barrel worldwide. Pure speculators account for as much as 40 percent of that high price, according to testimony that Rex Tillerson, the chief executive of ExxonMobil, gave to Congress last year. That estimate is bolstered by a recent report from the Federal Reserve Bank of St. Louis."
jimmy544
Champion Author Boston

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Message Posted: Feb 27, 2013 1:44:20 PM

That should mean a cut in prices but the oil supply went up and the gas supply went down and utilization rates are very low. My guess is higher prices ahead for no reason other than oil cos. profits.
Night Owl
Champion Author Toronto

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Message Posted: Feb 27, 2013 1:43:43 PM

Oil futures should be banned.
geezrtek
Champion Author Michigan

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Message Posted: Feb 27, 2013 1:42:42 PM

Oh good!
pv2004
Champion Author Connecticut

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Message Posted: Feb 27, 2013 1:42:17 PM

GO back down to 30
Audioquest
Champion Author London

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Points:118,000
Joined:Oct 2008
Message Posted: Feb 27, 2013 1:40:40 PM

Speculators made their profits last month, sold and now are ready to do it all over again.

No regulations in place to stop this criminal behaviour.
c_o_jones
Sophomore Author Chicago

Posts:192
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Joined:Feb 2013
Message Posted: Feb 27, 2013 1:40:21 PM

puking another nickle today

Grismer
Champion Author Kitchener-Waterloo

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Joined:Apr 2008
Message Posted: Feb 27, 2013 1:38:39 PM

Since pump prices are still increasing, this news is not significant for the average driver.
larharris2
All-Star Author Tennessee

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Joined:Oct 2011
Message Posted: Feb 27, 2013 1:31:42 PM

Steady is good.
snell snail
Champion Author Atlanta

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Message Posted: Feb 27, 2013 1:31:08 PM

...everything is counterintuitive.......!
humblepie
Champion Author Toledo

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Message Posted: Feb 27, 2013 1:29:59 PM

still at least $50 too high
briinnc
Champion Author North Carolina

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Joined:Jan 2010
Message Posted: Feb 27, 2013 1:28:39 PM

Wish they'd lose more.
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