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Oil sees choppy trade ahead of inventory data

MarketWatch -- U.S. oil futures edged higher in choppy electronic trade Wednesday as investors looked ahead to weekly inventory reports.

Crude oil for March delivery were little changed, gaining 2 cents to trade at $96.68 a barrel, ahead of the contract’s expiration at the end of the global day.

The moves follow March crude’s 80-cent advance in Tuesday’s floor session on the New York Mercantile Exchange. Those gains came in the wake of upbeat German data, and as the S&P 500 rallied to a new five-year high. Read: Oil futures end higher, back above $96 a barrel.

But analysts at Citi Futures said that the market could be ignoring bearish supply fundamentals.

“Focus on the S&P rally and the intermediate-term rally in crude-oil prices, for example, and one might miss that U.S. crude-oil production has ...


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Submitted Feb 20, 2013 By: brbaritone
Category: Daily News Article Discussions > Topics Add to favorite topics  
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REPLIES (newest first) Post a Reply
clermont40miles
Champion Author Cincinnati

Posts:14,656
Points:2,541,050
Joined:Apr 2008
Message Posted: Feb 20, 2013 11:39:14 PM

Good to see price of oil and gasoline drop today.

Needs to keep dropping.
toadNY
Champion Author Albany

Posts:10,325
Points:2,288,100
Joined:Apr 2008
Message Posted: Feb 20, 2013 11:34:21 PM

Gas up here .35 cents last 24 days. This recession under obamas watch, will it still be Bush's fault?
edamp04
Champion Author Fort Worth

Posts:6,419
Points:1,434,220
Joined:Nov 2010
Message Posted: Feb 20, 2013 11:25:29 PM

Way too high
monarch57
Champion Author British Columbia

Posts:2,450
Points:261,850
Joined:Nov 2008
Message Posted: Feb 20, 2013 11:25:13 PM

Unless oil goes down we will be heading into a serious recession. Gas went up 21 cents a liter in the last 10 days.
wayoung56
Champion Author Alabama

Posts:5,890
Points:1,573,985
Joined:Oct 2006
Message Posted: Feb 20, 2013 11:21:35 PM

Sounds more like a deepening recession instead of a faux economic recovery is in store for us...
milespergallon
Champion Author Illinois

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Points:2,665,270
Joined:Feb 2007
Message Posted: Feb 20, 2013 11:20:39 PM

Make it easy for everyone. Eliminate the specu-traitors and prices will return the the economic phase of supply and demand. As in really drop!
mstearno
Champion Author Dayton

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Message Posted: Feb 20, 2013 11:19:53 PM

recession again
MadDogUSMC
Champion Author Jacksonville

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Joined:Apr 2005
Message Posted: Feb 20, 2013 11:17:39 PM

Meanwhile, the greedy bunch of aholes is driving the pump prices up! It's gone up $0.40 here since Friday!
geoutpb
Champion Author Midland Odessa

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Joined:Dec 2006
Message Posted: Feb 20, 2013 11:17:15 PM

This can not be good.
Robert44
Champion Author Columbus

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Joined:Mar 2004
Message Posted: Feb 20, 2013 11:13:49 PM

Lukus : we need speculators to help drive price back down!!!!
bvrbill
Champion Author Eugene

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Message Posted: Feb 20, 2013 11:08:05 PM

Prices still rising at the pump.
FlyNFool
Champion Author South Carolina

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Joined:Aug 2008
Message Posted: Feb 20, 2013 11:05:34 PM

Won't make a difference.
Lukus
Champion Author Halifax

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Joined:Nov 2007
Message Posted: Feb 20, 2013 11:03:21 PM

Obama should be shutting down Wall Street's access to the Futures Market in oil. Maybe it will slow the up prices of the spectulators.
30mpg80
Champion Author Lexington

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Message Posted: Feb 20, 2013 10:59:30 PM

Whatever the speculators want, they will make it happen.
MG_Sputnik
Champion Author Philadelphia

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Message Posted: Feb 20, 2013 10:56:55 PM

Inventory data. What a bunch of major league BS!
GNo1
Champion Author Nashville

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Message Posted: Feb 20, 2013 10:50:02 PM

frack and pump. The answer.
txkrb
Champion Author Texas

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Message Posted: Feb 20, 2013 10:42:29 PM

Actually oil was down over $2 today
Article was posted before afternoon trading session
Full article has been corrected
mikaye
Champion Author Cleveland

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Message Posted: Feb 20, 2013 10:37:41 PM

inventory means nothing gas prices rise when inventory is high or low it depends on how much they are gouging
abcdMA
Champion Author Worcester

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Message Posted: Feb 20, 2013 10:36:47 PM

Oh well, tomorrow will tell
Quick68
Champion Author Columbus

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Message Posted: Feb 20, 2013 10:31:37 PM

Inventory on oil is BS. As long as we have lawmakers in Washington that is trying their best to turn our country into capitalist country the price of gas will keep going up.
N4PIP
Champion Author Miami

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Message Posted: Feb 20, 2013 10:29:21 PM

"bearish supply"? That's a joke. The trading prices have little to do with supply and demand. Prices should be significantly lower because of reduced demand.
walkingtall
Champion Author Toronto

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Message Posted: Feb 20, 2013 10:28:58 PM

It doesn't seem to matter what occurs prices just go up.
drz614
Champion Author Harrisburg

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Message Posted: Feb 20, 2013 10:28:44 PM

the current resident in the wh will not be happy until gas hits 5+ per gallon. thank those u voted 4 him
fullauto
Champion Author Reading

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Message Posted: Feb 20, 2013 10:19:52 PM

yep
grt197
Champion Author Illinois

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Message Posted: Feb 20, 2013 10:12:08 PM

ok got it
iamforiu
Champion Author Indiana

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Joined:May 2011
Message Posted: Feb 20, 2013 10:11:40 PM

ok
ericbcire
Champion Author Nevada

Posts:7,724
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Joined:Aug 2009
Message Posted: Feb 20, 2013 10:10:20 PM

Prices must drop or the economy will worsen.
prassu2012
Champion Author Illinois

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Message Posted: Feb 20, 2013 10:05:06 PM

may be effects current data
theschmuck
Champion Author Michigan

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Message Posted: Feb 20, 2013 10:04:47 PM

If it continues to be choppy, wear your seatbelts.
satrn38mpg
Champion Author Raleigh

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Message Posted: Feb 20, 2013 10:03:01 PM

just more of the same old bs >>
AliasBob
Rookie Author California

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Points:15,355
Joined:Mar 2012
Message Posted: Feb 20, 2013 10:02:59 PM

This does not surprise me at all. I watched the prices at two stations here today go up .10 cents in 2 hours.
Darwin00
Champion Author Mississippi

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Message Posted: Feb 20, 2013 10:01:55 PM

Ok
HailstormCA
Champion Author San Diego

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Message Posted: Feb 20, 2013 10:01:09 PM

Ho ho ho. There's mice in the bread box.
KhelbenArunson
Champion Author Michigan

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Message Posted: Feb 20, 2013 10:00:26 PM

It is going to be real choppy once we find a viable alternative.
GManCo
Champion Author Colorado Springs

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Message Posted: Feb 20, 2013 10:00:23 PM

It is making me money!!!
SandeeC
Champion Author Ontario

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Joined:Apr 2011
Message Posted: Feb 20, 2013 9:57:58 PM

Nothing new.
IUVidiot
Champion Author Indiana

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Message Posted: Feb 20, 2013 9:54:46 PM

politics
mrbee
Champion Author Little Rock

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Message Posted: Feb 20, 2013 9:51:11 PM

More like, up, up, up.
Blue48
Champion Author Illinois

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Message Posted: Feb 20, 2013 9:49:53 PM

UP..DOWN..UP..DOWN!
esquared
Champion Author Oklahoma City

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Message Posted: Feb 20, 2013 9:49:52 PM

Require speculators to take delivery -- now!
PoohMcGoo
Champion Author Alabama

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Message Posted: Feb 20, 2013 9:49:48 PM

Ok
AKmailman
Champion Author Alaska

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Joined:Jul 2004
Message Posted: Feb 20, 2013 9:49:18 PM

When will we learn that the price of oil and the price
of ga are not related ?
mrsclaus2013
Rookie Author Birmingham

Posts:15
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Joined:Jan 2013
Message Posted: Feb 20, 2013 9:47:08 PM

dang
RBob
Champion Author Portland

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Joined:May 2004
Message Posted: Feb 20, 2013 9:43:44 PM

Speculators on exploration, speculators on drilling, speculators on crude supplies, speculators on pipelines, speculators on storage of crude, speculators on the refined product... And we wonder why the price is so high..??
lowspeed
Champion Author Akron

Posts:3,896
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Message Posted: Feb 20, 2013 9:41:55 PM

It seems as if everything makes fuel prices rise
dollarwatcher
Champion Author Wisconsin

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Joined:Mar 2007
Message Posted: Feb 20, 2013 9:41:15 PM

Just makes ya wanna puke don't it.
hcivic
Champion Author Virginia

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Joined:Aug 2005
Message Posted: Feb 20, 2013 9:40:40 PM

lookin to go up more in March
scubadaniel
Champion Author Dayton

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Message Posted: Feb 20, 2013 9:40:28 PM

This administration has screwed this economy in so many way, it doesn't seem to matter what we do.
knifeman9
Champion Author North Carolina

Posts:8,919
Points:2,249,510
Joined:Oct 2008
Message Posted: Feb 20, 2013 9:39:39 PM

Something needs to be done to end this ...trade? How about price manipulation
bonzoonfmb
Champion Author Florida

Posts:2,540
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Joined:Feb 2010
Message Posted: Feb 20, 2013 9:34:07 PM

Gas prices are too high.
Karisholman
Veteran Author Nevada

Posts:471
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Joined:Oct 2012
Message Posted: Feb 20, 2013 9:32:53 PM

It doesn't seems to matter what is occurring, prices continue to rise....
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