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Oil Heads for Second Weekly Gain as U.S. Jobless Claims Decline

Bloomberg -- Oil headed for a second weekly gain in New York after applications for unemployment relief unexpectedly declined last week in the U.S., the world’s biggest consumer of crude.

Futures were little changed and poised for a weekly increase of 2.2 percent. That would be the most since the seven days ended July 20. Jobless claims dropped by 6,000 to 361,000 in the week ended Aug. 4, Labor Department figures showed yesterday. The median forecast of 43 economists surveyed by Bloomberg News called for an increase to 370,000. A depression formed in the Atlantic and may become Tropical Storm Gordon today, the National Hurricane Center said.

“The employment situation seems to have stabilized,” David Lennox, an analyst at Fat Prophets in Sydney, said in a telephone interview today. “Perhaps the gloom


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Submitted Aug 10, 2012 By: angel4me
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Heads for Second Weekly Gain as U.S. Jobless Claims Decline Back to Topics
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figman
Champion Author Chicago

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Message Posted: Aug 12, 2012 11:41:12 PM

Correct me if I'm wrong, but if there are less people employed, wouldn't it make sense that there would be less people laid off and collecting unemployment for the first time??
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rastaman215
Champion Author Ann Arbor

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Message Posted: Aug 10, 2012 10:26:36 PM

I see as the jobless rate falls, some people have blamed the President, when it's actually the Republican Congress to blame. They made a decision to throw the whole country under the bus in order to defeat the President and limit him to one term. This is a document fact, that they met on his first day in office and set the plan in motion. Can you name something positive that Congress has done in the way of jobs?
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flyfast
Champion Author Kansas City

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Message Posted: Aug 10, 2012 10:15:40 PM

THERE JUST LESS LOOKING FOR JOB THAT IS NOT THERE
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iamforiu
Champion Author Indiana

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Message Posted: Aug 10, 2012 10:05:36 PM

ok
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cdanielwyke
Champion Author Greensboro

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Message Posted: Aug 10, 2012 9:53:43 PM

This is stupid! Just because more people are falling off the unemployment claims, does not mean more people are working! If investors keep up this madness we'll all be out of jobs. I keep saying that we put them out of a job first.
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jad1960
Champion Author Gary

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Message Posted: Aug 10, 2012 9:51:57 PM

dumb
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comprof
Champion Author Houston

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Message Posted: Aug 10, 2012 9:46:46 PM

DAABEE1073: Right on target.
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1Casey
Champion Author Albany

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Message Posted: Aug 10, 2012 9:45:57 PM

greed
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Wanda127
Champion Author Florida

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Message Posted: Aug 10, 2012 9:45:17 PM

The fuel prices are so high & I really don't know how Obama thinks our economy is recovering when so many like me have dropped off the employment rolls & went for early retirement. We are not counted anymore.

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DABEE1073
Champion Author San Diego

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Message Posted: Aug 10, 2012 9:44:23 PM

GEE!! ONLY 361,000 NEW JOBLESS CLAIMS. THANK YOU obummer FOR THE TOTALLY INEPT JOB you HAVE BEEN DOING FOR THE LAST THREE AND A HALF YEARS.
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carloco75
Champion Author Richmond

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Message Posted: Aug 10, 2012 9:39:05 PM

Yayyyy..."progressssssssss"
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rf6480
Champion Author Miami

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Message Posted: Aug 10, 2012 9:35:07 PM

some one found a art time min wage job so lets raise fuel prices
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scubadaniel
Champion Author Dayton

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Message Posted: Aug 10, 2012 9:33:41 PM

"If I don't get this economy turned around in 3 years, this will be a one term proposition". Hmm.. Maybe I shouldn't have spent the first 2 years cramming the healthcare bill down America's throat and tried to fix the economy. Wait if I had worked on it for 3 years it would probably be worse than it is now. Hello Cloward and Piven!
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suzmar
Champion Author Texas

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Message Posted: Aug 10, 2012 9:33:36 PM

Ethanol prices are skyrocketing due to the skyrocketing price of corn. The EPA requires a fixed amount of ethanol in each gallon of gas. This is responsible for part of the rise in prices at the pump.
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Manual_Shifter
All-Star Author New Brunswick

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Message Posted: Aug 10, 2012 9:33:15 PM

Dum dee Dum Dum, Dum Dum!!!!
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mitchell6597
Champion Author New Hampshire

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Message Posted: Aug 10, 2012 9:32:13 PM

Oh goody, more folks to go to work and hand their check over to the gasman.
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CORNHICK
All-Star Author Omaha

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Message Posted: Aug 10, 2012 9:30:35 PM

not cool
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NashGas
Champion Author Nashville

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Message Posted: Aug 10, 2012 9:29:27 PM

We are doomed.
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DEG
Champion Author Las Vegas

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Message Posted: Aug 10, 2012 9:27:41 PM

With oil and gas increasing in price; unemployment is likely to go up again.
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NotmeuQc
Champion Author Montreal

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Message Posted: Aug 10, 2012 9:27:04 PM

I'm sure gas prices will rise again early next week. We are not far from record prices in Montreal.
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wulf2000
Champion Author Miami

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Message Posted: Aug 10, 2012 9:24:47 PM

Oil price declines and the price of gas rises in US.

Perfectly logical.
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walkingtall
Champion Author Toronto

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Message Posted: Aug 10, 2012 9:24:00 PM

Oil heads for second weekly gain as United States jobless claims decline and speculators will bust the economy at the first chance they get,when it finally looks bad they back off.
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Blue48
Champion Author Illinois

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Message Posted: Aug 10, 2012 9:23:07 PM

BUMMER!
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sammy518
Champion Author Austin

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Message Posted: Aug 10, 2012 9:19:39 PM

ok
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bvrbill
Champion Author Eugene

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Message Posted: Aug 10, 2012 9:17:36 PM

Prices sure aren't falling around here.
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dky63
Veteran Author Illinois

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Message Posted: Aug 10, 2012 9:16:08 PM

Big Oil = Record Profits
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RetFireLT
Champion Author Kentucky

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Message Posted: Aug 10, 2012 9:13:21 PM

A bunch of BS.
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jb107
Champion Author New Jersey

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Message Posted: Aug 10, 2012 9:11:51 PM

There is no reason for these gas price increases. Oil has not climbed very much.
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PissedCanuck
Champion Author Toronto

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Message Posted: Aug 10, 2012 9:07:29 PM

Blame it on something else.
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ZimaKC
All-Star Author Pittsburgh

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Message Posted: Aug 10, 2012 9:06:06 PM

thanks for the info
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SpankyMI
Champion Author Kalamazoo

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Message Posted: Aug 10, 2012 9:04:35 PM

Is there a correlation between Oil prices and new unemployment claims?
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Spankster85
Champion Author Chicago

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Message Posted: Aug 10, 2012 8:59:39 PM

Alrighty then, so we're still screwed.
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Mowerman08
Champion Author Milwaukee

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Message Posted: Aug 10, 2012 8:58:58 PM

Speculators will bust the economy at the first chance they get, when it finally looks bad they back off. The last time they did that, gas dropped to $3.25 a gallon. The economy started upward and the speculators jumped back in and gas is now around $3.91 a gallon.
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cmsense
Champion Author Columbus

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Message Posted: Aug 10, 2012 8:58:19 PM

Speculators and manipulation by Pig Oil got gas prices back where they want them.
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must87searcher
Champion Author Maryland

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Message Posted: Aug 10, 2012 8:56:43 PM

The marketers are looking for any excuse to use to raise prices.
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dirt girl
Champion Author Twin Cities

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Message Posted: Aug 10, 2012 8:56:25 PM

“The employment situation seems to have stabilized,”

Who are they trying to kid?
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TFowler513
Champion Author Memphis

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Message Posted: Aug 10, 2012 8:56:05 PM

The only reason the jobless claims declined is because people stopped looking. Those who did find work are now under employed resulting in a less than optimal situation.
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garyr86
Champion Author Michigan

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Message Posted: Aug 10, 2012 8:50:09 PM

US jobless claims decline is not as important as how many more people found jobs compared to how many lost jobs.
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kzrooster
Champion Author Kalamazoo

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Message Posted: Aug 10, 2012 8:49:28 PM

only because once you claim for so long you can't claim anymore. has any of our leaders done that math?
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a_lu_vasile
Champion Author Maryland

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Message Posted: Aug 10, 2012 8:47:00 PM

Bad news!
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darkknight1
Champion Author Winston-Salem

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Message Posted: Aug 10, 2012 8:46:29 PM

Good grief! What a lame reason to raise the prices.
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Edpap
Champion Author Pennsylvania

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Message Posted: Aug 10, 2012 8:41:57 PM

The real unemployment number is 30% if all the people who lost unemployment and stopped looking were counted....but DC pretends everything is ok and the ostrich approach to problems is an obama trademark of failure.
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sjambok
Champion Author Nashville

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Message Posted: Aug 10, 2012 8:36:12 PM

The jobless numbers are a bunch of B.S.
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bevmill
Champion Author Georgia

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Message Posted: Aug 10, 2012 8:35:04 PM

Good on the employment side.
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CheapDiesel
Champion Author Indianapolis

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Message Posted: Aug 10, 2012 8:34:23 PM

They have been saying a "recovery" is right around the corner for years now, by now hopefully most people realize nothing will improve until we get a new POTUS. Sad how oil moves higher for the most trivial of reasons like cooked government numbers.
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orphancarguyPE
Champion Author PEI

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Message Posted: Aug 10, 2012 8:32:45 PM

Inflation is usually linked to better than neutral economic outlooks and more precisely, better than neutral current economic RESULTS. In small controllable doses, its a GOOD thing

So, accept your poison: prices go down because the handcart is ready to take us for a 'ride', or prices go up because more people are employed and can easily afford to just a tiny bit more on more people competing tobuy whatever it is
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adr47
Champion Author Saskatchewan

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Message Posted: Aug 10, 2012 8:31:57 PM

Speculators Back in control
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humancry
Champion Author Michigan

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Message Posted: Aug 10, 2012 8:31:50 PM

price have to come down or the economy will be in trouble write your senator and congress and the president people...
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Agarre
Champion Author Richmond

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Message Posted: Aug 10, 2012 8:31:37 PM

Okie
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raj_fl
Champion Author Trenton

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Message Posted: Aug 10, 2012 8:31:15 PM

mmmmm
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