Not Logged In Log In   Sign Up   Points Leaders
Follow Us    12:11 PM

GasBuddy News Article

38
votes
Oil Declines a Second Day on Demand Outlook for Europe, China

Bloomberg -- Oil fell for a 2nd day before a meeting of European officials amid speculation the region’s debt crisis and a slowdown in China will curb fuel demand.

Futures slid as much as 0.7 percent after capping a third weekly decline on Oct. 5, the longest run of losses since June.

“The prospects for any really significant increase in demand doesn’t seem to be there, it’s difficult for traders to get too bullish.”

Cutting bullish bets:

Oil in New York is breaching long-term technical support at $89.83 a barrel, according to data compiled by Bloomberg. On the weekly chart, that’s the 50 percent Fibonacci retracement of the drop to $32.40 in December 2008 from an intraday record high of $147.27 in July that year. Losses tend to accelerate below chart-support levels.


Read the Full Article

Submitted Oct 08, 2012 By: MidNJ
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Declines a Second Day on Demand Outlook for Europe, China Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
honda0105
Champion Author Tallahassee

Posts:22,229
Points:2,067,965
Joined:Nov 2008
Message Posted: Oct 14, 2012 7:15:33 AM

life as we know it is declining. Let's face it. Time to look for a new direction. Not locally, but globally.
Profile Pic
jrs4125
Champion Author Indiana

Posts:4,764
Points:1,043,785
Joined:Sep 2011
Message Posted: Oct 9, 2012 6:19:36 AM

No stability anywhere on fuel prices.
Profile Pic
bwatchingu
Champion Author Arkansas

Posts:3,871
Points:1,058,800
Joined:Jan 2009
Message Posted: Oct 8, 2012 6:01:52 PM

watching
Profile Pic
investmentdr
Champion Author Cleveland

Posts:5,846
Points:1,890,795
Joined:Sep 2008
Message Posted: Oct 8, 2012 10:10:26 AM

keep on keeping on
Profile Pic
Discovery02
Champion Author Colorado Springs

Posts:6,600
Points:752,220
Joined:May 2012
Message Posted: Oct 8, 2012 9:56:52 AM

Hedge Fund traders, speculators, gamblers...and we pay the bill.
Profile Pic
BIGOILEATURCRUD
Champion Author North Carolina

Posts:9,089
Points:1,837,120
Joined:Nov 2008
Message Posted: Oct 8, 2012 9:51:39 AM

>>Wish gas buddy would ask our members "How many gallons of fuel do you use per week compared to last year at this time?" My bet would be we are all using less.<<

==================================

My bet would be consumption might be down due to increased efficiency, but distance traveled remains the same. Consumers are still consuming.
Profile Pic
ramman2012
Champion Author Edmonton

Posts:2,376
Points:525,195
Joined:May 2011
Message Posted: Oct 8, 2012 9:16:09 AM

ok
Profile Pic
scu227
Champion Author New Haven

Posts:6,477
Points:1,229,005
Joined:Feb 2011
Message Posted: Oct 8, 2012 7:13:19 AM

Keep on dropping and bring down gas prices at the pump
Profile Pic
Evilmaddog
Champion Author British Columbia

Posts:5,491
Points:1,413,240
Joined:Aug 2010
Message Posted: Oct 8, 2012 6:55:30 AM

yet gas prices are on the rise
Profile Pic
grandpadon28110
Champion Author Charlotte

Posts:6,892
Points:1,598,960
Joined:Sep 2008
Message Posted: Oct 8, 2012 6:26:47 AM

Good.
Profile Pic
CptnCanada
Champion Author Saskatoon

Posts:8,649
Points:1,201,845
Joined:Jun 2008
Message Posted: Oct 8, 2012 6:21:03 AM

Oil drops ... pump prices rise..
Profile Pic
otherdave
Champion Author Indiana

Posts:5,589
Points:1,726,015
Joined:Oct 2008
Message Posted: Oct 8, 2012 6:20:13 AM

Still $3.80 to $4.00 here.
Profile Pic
municipal
Veteran Author Illinois

Posts:339
Points:588,010
Joined:May 2011
Message Posted: Oct 8, 2012 6:20:04 AM

Regular 4.09 in Chicagoland!!
Profile Pic
alleycatMO
Champion Author Kansas City

Posts:1,366
Points:509,515
Joined:Feb 2012
Message Posted: Oct 8, 2012 6:17:33 AM

Gas prices today are 3.56
Profile Pic
Bobmilan
Champion Author Louisville

Posts:3,502
Points:926,275
Joined:Sep 2011
Message Posted: Oct 8, 2012 6:15:49 AM

Those gosh-darn speculators again dropping price...er, uh.

Get back to you on this one.
Profile Pic
paoli8
Champion Author Philadelphia

Posts:8,812
Points:2,239,580
Joined:Jul 2007
Message Posted: Oct 8, 2012 6:14:54 AM

Pumps prices in my are nothing to cheer about
Profile Pic
Brucevanf
Champion Author New Brunswick

Posts:3,519
Points:701,820
Joined:Aug 2012
Message Posted: Oct 8, 2012 6:13:09 AM

They are trying to desensitise us so they can charge anything they want for Gas no matter what the price of oil is.
Profile Pic
bama56
Champion Author Alabama

Posts:5,710
Points:1,838,045
Joined:Nov 2008
Message Posted: Oct 8, 2012 6:12:21 AM

still to much
Profile Pic
bama56
Champion Author Alabama

Posts:5,710
Points:1,838,045
Joined:Nov 2008
Message Posted: Oct 8, 2012 6:12:05 AM

good
Profile Pic
PurduePete86
Champion Author Indiana

Posts:3,232
Points:1,428,695
Joined:Apr 2007
Message Posted: Oct 8, 2012 6:12:00 AM

Prices up 10 cents in Northern Indiana . . . we are getting hosed.
Profile Pic
JCI46009IN
Champion Author Indiana

Posts:2,129
Points:439,570
Joined:Sep 2011
Message Posted: Oct 8, 2012 6:10:49 AM

Prices up here in Indiana
Profile Pic
LoneGuy
Champion Author Lansing

Posts:10,387
Points:2,727,340
Joined:Aug 2005
Message Posted: Oct 8, 2012 6:10:44 AM

We haven't seen it in Mid Michigan.
Profile Pic
speedraider
Champion Author Orlando

Posts:5,846
Points:2,101,025
Joined:Nov 2005
Message Posted: Oct 8, 2012 6:10:26 AM

slide baby slide
Profile Pic
kobes1
Champion Author Florida

Posts:4,667
Points:1,013,080
Joined:Aug 2011
Message Posted: Oct 8, 2012 6:10:24 AM

Ok
Profile Pic
EMoe57
Champion Author Jacksonville

Posts:6,729
Points:1,469,010
Joined:Apr 2009
Message Posted: Oct 8, 2012 6:10:23 AM

old
Profile Pic
Rockinrobby
Veteran Author Tallahassee

Posts:444
Points:276,990
Joined:Mar 2011
Message Posted: Oct 8, 2012 6:10:06 AM

yeah, but what about the pump?
Profile Pic
jimmy544
Champion Author Boston

Posts:6,764
Points:1,088,485
Joined:Feb 2011
Message Posted: Oct 8, 2012 6:10:02 AM

Time for a drop in prices at the pump. Wonder how long it will take...
Profile Pic
JSX515
Champion Author St. Louis

Posts:5,857
Points:1,258,040
Joined:Feb 2011
Message Posted: Oct 8, 2012 6:09:46 AM

wish I had a decline in Obozo on my screen
Profile Pic
scottydoesnt
Champion Author Chicago

Posts:4,552
Points:608,750
Joined:Apr 2011
Message Posted: Oct 8, 2012 6:08:57 AM

Too bad gas prices jumped over 10 cents here yesterday. Back over $4 per gallon again. :(
Profile Pic
Xavier80
Champion Author Victoria

Posts:2,355
Points:738,355
Joined:Apr 2012
Message Posted: Oct 8, 2012 6:07:50 AM

ok
Profile Pic
turbosaab
Champion Author Cleveland

Posts:19,018
Points:2,342,025
Joined:Sep 2006
Message Posted: Oct 8, 2012 6:07:41 AM

The price of gasoline makes no sense in light of this precipitous drop in oil price.
Profile Pic
judgemobile
Champion Author Ohio

Posts:9,739
Points:2,903,035
Joined:Nov 2005
Message Posted: Oct 8, 2012 6:07:21 AM

I "demand" it comes down a lot more
Profile Pic
Harry813
Champion Author Iowa

Posts:4,724
Points:1,093,595
Joined:Jul 2011
Message Posted: Oct 8, 2012 6:05:30 AM

Price at pump is still to high!
Profile Pic
DexLucas
Champion Author South Carolina

Posts:2,860
Points:773,175
Joined:Feb 2012
Message Posted: Oct 8, 2012 6:05:27 AM

ok
Profile Pic
THEDodgeman
Champion Author Denver

Posts:10,172
Points:2,404,600
Joined:Apr 2005
Message Posted: Oct 8, 2012 6:05:27 AM

whoopie
Profile Pic
heartbroken2010
Champion Author Ottawa

Posts:6,500
Points:1,354,835
Joined:Aug 2010
Message Posted: Oct 8, 2012 6:05:14 AM

no money = less buying where ever you live.
Profile Pic
mrbee
Champion Author Little Rock

Posts:5,935
Points:2,922,450
Joined:Oct 2005
Message Posted: Oct 8, 2012 6:05:05 AM

More CNG.
Profile Pic
bobzilla11
Champion Author Indiana

Posts:2,644
Points:920,735
Joined:May 2011
Message Posted: Oct 8, 2012 6:04:34 AM

speculate baby speculate
Profile Pic
fillerupyeoww
Champion Author Columbus

Posts:8,034
Points:2,106,380
Joined:Mar 2008
Message Posted: Oct 8, 2012 6:04:32 AM

No help at the pump.
Profile Pic
ClarkSC
Champion Author South Carolina

Posts:5,149
Points:1,465,485
Joined:May 2010
Message Posted: Oct 8, 2012 6:04:18 AM

Goes up, goes down.
Profile Pic
jimraehl
Champion Author Utah

Posts:9,207
Points:2,092,705
Joined:Sep 2008
Message Posted: Oct 8, 2012 6:04:11 AM

Maybe lower gas prices, maybe not.
Profile Pic
calripken_8
Champion Author Virginia

Posts:4,146
Points:909,415
Joined:Jun 2011
Message Posted: Oct 8, 2012 6:03:39 AM

Decline, yeah right... tomorrow something else will come along, it's a BOHICA
Profile Pic
Ziggy1962
Champion Author New Jersey

Posts:49,611
Points:2,268,015
Joined:Aug 2006
Message Posted: Oct 8, 2012 6:03:31 AM

We will see.
Profile Pic
MBAcura
Champion Author Orlando

Posts:3,994
Points:1,093,790
Joined:Apr 2011
Message Posted: Oct 8, 2012 6:03:14 AM

Sure, so shut down some refineries. Change in November.
Profile Pic
livewire300
Champion Author South Carolina

Posts:4,617
Points:249,635
Joined:Jun 2011
Message Posted: Oct 8, 2012 6:01:41 AM

Decline...
Profile Pic
BJ1947
Champion Author Oklahoma

Posts:2,173
Points:838,335
Joined:Mar 2011
Message Posted: Oct 8, 2012 6:00:09 AM

Sure!
Profile Pic
JimL1
Champion Author Phoenix

Posts:10,202
Points:1,641,670
Joined:Jul 2003
Message Posted: Oct 8, 2012 5:59:33 AM

Bring on CNG!
Profile Pic
brbts
Champion Author Charlotte

Posts:5,240
Points:1,147,470
Joined:Feb 2011
Message Posted: Oct 8, 2012 5:59:19 AM

I think we'd be a lot better off if we could drill our own and KEEP our own here and not have to worry about the "world market". But since we're giving our country away to these countries we have to pay for it.
Profile Pic
CarpenterNJ
Champion Author New Jersey

Posts:2,943
Points:893,215
Joined:Sep 2011
Message Posted: Oct 8, 2012 5:58:01 AM

We shall see.
Profile Pic
GasPriceHelp4u
Champion Author Dayton

Posts:4,868
Points:1,026,900
Joined:Jul 2008
Message Posted: Oct 8, 2012 5:56:48 AM

Great news for US consumers as long as it is reflected at the pump!!!
Post a reply Back to Topics