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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

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sjf238 Champion Author Philadelphia Posts:1,215 Points:648,705 Joined:Mar 2011	Message Posted: Feb 28, 2013 12:45:13 PM Ignore sjf238 Report Abuse No reason for the high prices. We are getting ripped offed.
paulydel Champion Author Delaware Posts:8,892 Points:858,030 Joined:Jan 2008	Message Posted: Feb 27, 2013 7:07:09 PM Ignore paulydel Report Abuse It is a shame that our dollar has gone in the toilet.
Medic55 All-Star Author Columbia Posts:573 Points:935,980 Joined:Dec 2009	Message Posted: Feb 27, 2013 7:01:50 PM Ignore Medic55 Report Abuse Yeah, right.
splitrman Champion Author Victoria Posts:1,440 Points:341,760 Joined:Jun 2012	Message Posted: Feb 27, 2013 7:00:55 PM Ignore splitrman Report Abuse Won't help us.
baldyIL Rookie Author Illinois Posts:97 Points:441,880 Joined:Jan 2012	Message Posted: Feb 27, 2013 7:00:53 PM Ignore baldyIL Report Abuse ok
moregas1966 All-Star Author Columbus Posts:820 Points:163,130 Joined:Dec 2012	Message Posted: Feb 27, 2013 7:00:37 PM Ignore moregas1966 Report Abuse ok
PoohMcGoo Champion Author Alabama Posts:3,122 Points:822,060 Joined:Dec 2010	Message Posted: Feb 27, 2013 7:00:26 PM Ignore PoohMcGoo Report Abuse Too bad the refineries are messed up. Hopefully it'll start dropping eventually.
arcaneradio Champion Author Michigan Posts:2,641 Points:513,215 Joined:Dec 2010	Message Posted: Feb 27, 2013 6:48:15 PM Ignore arcaneradio Report Abuse 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 Posts:2,094 Points:411,190 Joined:Feb 2012	Message Posted: Feb 27, 2013 6:42:55 PM Ignore Pramodsharma Report Abuse This is worst trend, "pick and height and become steady" STOP wasting gas not even pinch, and reduce consumption.
afghaned Champion Author Hamilton Posts:11,977 Points:1,312,860 Joined:May 2004	Message Posted: Feb 27, 2013 6:40:39 PM Ignore afghaned Report Abuse This current high is very disheartening.
BMWer Champion Author Calgary Posts:2,181 Points:1,690,925 Joined:Dec 2003	Message Posted: Feb 27, 2013 6:40:27 PM Ignore BMWer Report Abuse Let's see them fall more
gass12 Champion Author Omaha Posts:8,523 Points:2,330,420 Joined:Oct 2005	Message Posted: Feb 27, 2013 6:37:27 PM Ignore gass12 Report Abuse Up and down.
1COR1533 Champion Author San Jose Posts:1,821 Points:340,060 Joined:Jun 2012	Message Posted: Feb 27, 2013 6:37:03 PM Ignore 1COR1533 Report Abuse crazy numbers crazy numbers
GoneUpAgain Champion Author Atlanta Posts:7,763 Points:1,370,980 Joined:May 2004	Message Posted: Feb 27, 2013 6:34:49 PM Ignore GoneUpAgain Report Abuse Futures may be down but current is sky high.
agent0077 All-Star Author Colorado Posts:823 Points:507,270 Joined:Jul 2011	Message Posted: Feb 27, 2013 6:31:51 PM Ignore agent0077 Report Abuse Ok
wz Champion Author Twin Cities Posts:2,615 Points:1,303,735 Joined:Feb 2009	Message Posted: Feb 27, 2013 6:29:44 PM Ignore wz Report Abuse 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 Posts:3,954 Points:1,184,550 Joined:Feb 2006	Message Posted: Feb 27, 2013 6:26:57 PM Ignore saleboss Report Abuse I sure haven't seen any changes in prices at the pump!
furiousfowl Champion Author Riverside Posts:16,970 Points:2,769,760 Joined:May 2005	Message Posted: Feb 27, 2013 6:26:03 PM Ignore furiousfowl Report Abuse ok
Muloirea Rookie Author Ohio Posts:14 Points:13,980 Joined:Jun 2012	Message Posted: Feb 27, 2013 6:17:50 PM Ignore Muloirea Report Abuse 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 Posts:1,818 Points:1,069,860 Joined:Jul 2008	Message Posted: Feb 27, 2013 6:14:33 PM Ignore bigrigAZ Report Abuse 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 Posts:2,817 Points:903,890 Joined:Jul 2009	Message Posted: Feb 27, 2013 6:14:30 PM Ignore slowpoke63 Report Abuse Losses not "sharp" enough!
heysailor Champion Author Pittsburgh Posts:9,712 Points:2,359,920 Joined:Mar 2006	Message Posted: Feb 27, 2013 6:13:47 PM Ignore heysailor Report Abuse Lose some more
carefrey Champion Author Orlando Posts:5,660 Points:1,184,260 Joined:Sep 2009	Message Posted: Feb 27, 2013 6:13:42 PM Ignore carefrey Report Abuse Some more lies!
slowtrain Champion Author Georgia Posts:3,792 Points:974,425 Joined:Aug 2008	Message Posted: Feb 27, 2013 6:13:17 PM Ignore slowtrain Report Abuse This is the next excuse to raise gas prices.
merlinMalo Champion Author San Antonio Posts:1,323 Points:561,745 Joined:Jun 2011	Message Posted: Feb 27, 2013 6:12:45 PM Ignore merlinMalo Report Abuse OK
BobbyVA Champion Author Virginia Beach Posts:5,627 Points:1,200,830 Joined:Jul 2009	Message Posted: Feb 27, 2013 6:12:07 PM Ignore BobbyVA Report Abuse 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 Posts:4,954 Points:1,391,955 Joined:Nov 2008	Message Posted: Feb 27, 2013 6:11:18 PM Ignore DeeLA Report Abuse Everyone has a crystal ball to try to predict gas prices. They are all cloudy.
OuttaOfGAS All-Star Author Illinois Posts:566 Points:145,680 Joined:Dec 2012	Message Posted: Feb 27, 2013 6:10:04 PM Ignore OuttaOfGAS Report Abuse 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 Posts:1,149 Points:412,930 Joined:Dec 2011	Message Posted: Feb 27, 2013 6:00:44 PM Ignore Isea11 Report Abuse Does this mean that we need to wait until April to see our prices go down?
GatorGuy Champion Author Columbia Posts:2,284 Points:1,226,490 Joined:Jan 2009	Message Posted: Feb 27, 2013 5:21:28 PM Ignore GatorGuy Report Abuse OK
Neely8 All-Star Author Boston Posts:590 Points:127,890 Joined:Feb 2013	Message Posted: Feb 27, 2013 3:38:47 PM Ignore Neely8 Report Abuse 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 Posts:4,342 Points:1,100,285 Joined:Jan 2010	Message Posted: Feb 27, 2013 3:34:36 PM Ignore Jeff1944 Report Abuse Let us watch and see March 1 & 4, 2013!
wulf2000 Champion Author Miami Posts:3,156 Points:1,411,580 Joined:May 2005	Message Posted: Feb 27, 2013 3:31:03 PM Ignore wulf2000 Report Abuse My opinion oil prices are disconnected from reality.
DatThao All-Star Author Wilmington Posts:826 Points:163,950 Joined:Oct 2012	Message Posted: Feb 27, 2013 2:46:58 PM Ignore DatThao Report Abuse Hope the dollar strengthens soon.
jobo74 Champion Author Ontario Posts:1,021 Points:800,460 Joined:May 2010	Message Posted: Feb 27, 2013 2:43:53 PM Ignore jobo74 Report Abuse losses???? hahahaha... where???
goinwgas Champion Author Oregon Posts:1,009 Points:259,300 Joined:Jun 2012	Message Posted: Feb 27, 2013 2:00:41 PM Ignore goinwgas Report Abuse speculators are kinda like zombies, they just won't go away
Bigtex09 Champion Author Dallas Posts:4,422 Points:1,185,890 Joined:Oct 2009	Message Posted: Feb 27, 2013 2:00:25 PM Ignore Bigtex09 Report Abuse up down up down profit loss profit loss so confusing these days
fulldawg Champion Author Georgia Posts:7,113 Points:951,210 Joined:Jun 2004	Message Posted: Feb 27, 2013 1:53:22 PM Ignore fulldawg Report Abuse more disconnect more price hikes
satrn38mpg Champion Author Raleigh Posts:5,202 Points:1,079,665 Joined:Sep 2009	Message Posted: Feb 27, 2013 1:52:32 PM Ignore satrn38mpg Report Abuse just more of the same old same >>
lindalm25 All-Star Author Indianapolis Posts:646 Points:171,390 Joined:Dec 2012	Message Posted: Feb 27, 2013 1:51:48 PM Ignore lindalm25 Report Abuse 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 Posts:4,373 Points:680,580 Joined:Feb 2011	Message Posted: Feb 27, 2013 1:44:20 PM Ignore jimmy544 Report Abuse 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 Posts:7,680 Points:1,812,950 Joined:Jul 2004	Message Posted: Feb 27, 2013 1:43:43 PM Ignore Night Owl Report Abuse Oil futures should be banned.
geezrtek Champion Author Michigan Posts:2,048 Points:449,760 Joined:Apr 2011	Message Posted: Feb 27, 2013 1:42:42 PM Ignore geezrtek Report Abuse Oh good!
pv2004 All-Star Author Connecticut Posts:547 Points:365,865 Joined:Jun 2004	Message Posted: Feb 27, 2013 1:42:17 PM Ignore pv2004 Report Abuse GO back down to 30
Audioquest Champion Author London Posts:1,080 Points:100,750 Joined:Oct 2008	Message Posted: Feb 27, 2013 1:40:40 PM Ignore Audioquest Report Abuse 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 Points:34,560 Joined:Feb 2013	Message Posted: Feb 27, 2013 1:40:21 PM Ignore c_o_jones Report Abuse puking another nickle today
Grismer Champion Author Kitchener-Waterloo Posts:8,669 Points:1,750,770 Joined:Apr 2008	Message Posted: Feb 27, 2013 1:38:39 PM Ignore Grismer Report Abuse Since pump prices are still increasing, this news is not significant for the average driver.
larharris2 Veteran Author Tennessee Posts:341 Points:523,260 Joined:Oct 2011	Message Posted: Feb 27, 2013 1:31:42 PM Ignore larharris2 Report Abuse Steady is good.
snell snail Champion Author Atlanta Posts:5,121 Points:2,622,685 Joined:Feb 2004	Message Posted: Feb 27, 2013 1:31:08 PM Ignore snell snail Report Abuse ...everything is counterintuitive.......!
humblepie Champion Author Toledo Posts:35,292 Points:2,398,095 Joined:Mar 2006	Message Posted: Feb 27, 2013 1:29:59 PM Ignore humblepie Report Abuse still at least $50 too high