Not Logged In Log In   Sign Up   Points Leaders
Follow Us    10:58 PM

GasBuddy News Article

54
votes
Oil dips below $96 a day after sharp drop

The Associated Press -- PABLO GORONDI
Published: September 18th, 2012 04:31 AM
Last Modified: September 18th, 2012 04:45 AM

The price of oil slipped below $96 a barrel on Tuesday, adding to losses from the previous day, when prices took a sudden and unexplained plunge.

By early afternoon in Europe, benchmark crude for October delivery was down 82 cents at $95.80 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $2.38, or 2.4 percent, to finish at $96.62 a barrel on the Nymex on Monday.

In London, Brent was down 40 cents at $113.39 a barrel on the ICE Futures exchange.

On Monday afternoon in the U.S., oil suddenly plunged more than $4 per barrel in both New York and London, erasing the gains made last week when the Federal Reserve unveiled new steps to boost the U.S.


Read the Full Article

Submitted Sep 18, 2012 By: Nitewolf
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil dips below $96 a day after sharp drop Back to Topics
REPLIES (newest first) Post a Reply
jvf514
Rookie Author Chicago

Posts:69
Points:37,265
Joined:Mar 2012
Message Posted: Jun 7, 2013 9:34:10 AM

..

[Edited by: jvf514 at 6/7/2013 10:35:45 AM EST]
honda0105
Champion Author Tallahassee

Posts:24,300
Points:2,435,365
Joined:Nov 2008
Message Posted: Sep 23, 2012 7:06:16 AM

crude down, pump prices still up...
CPGas1815
Champion Author Michigan

Posts:6,060
Points:1,110,190
Joined:Apr 2008
Message Posted: Sep 19, 2012 4:13:56 PM

What I would like to see is a decrease of the outrageous and completely unjustified price at the pump.
BEGTWO
Champion Author Maryland

Posts:4,785
Points:1,500,240
Joined:Sep 2010
Message Posted: Sep 19, 2012 10:22:21 AM

GREAT!!!
southrob
Champion Author Tucson

Posts:6,082
Points:1,412,395
Joined:Mar 2011
Message Posted: Sep 19, 2012 12:34:49 AM

dhan for cheap gas
jkpsr
Champion Author New Jersey

Posts:5,978
Points:1,637,420
Joined:Jun 2005
Message Posted: Sep 18, 2012 11:30:42 PM

$69 would be more sustainable.
miser709
Champion Author Grand Rapids

Posts:1,278
Points:1,809,575
Joined:Mar 2004
Message Posted: Sep 18, 2012 11:28:07 PM

Dips, funny.
langolera
Champion Author Akron

Posts:5,113
Points:1,465,855
Joined:Sep 2005
Message Posted: Sep 18, 2012 11:26:03 PM

yeah yeah yeah. I'll get excited when I see it at the pump. Yeah right........
EVBuddy
Champion Author Nevada

Posts:19,783
Points:3,761,885
Joined:Sep 2004
Message Posted: Sep 18, 2012 11:24:45 PM

ok
tedjm1
Champion Author New York

Posts:5,609
Points:801,050
Joined:Dec 2006
Message Posted: Sep 18, 2012 11:24:16 PM

okay
boatfloyd
Champion Author Jacksonville

Posts:5,133
Points:1,197,040
Joined:Mar 2012
Message Posted: Sep 18, 2012 11:24:08 PM

Keep the price coming down.
Hi1
Champion Author Ontario

Posts:7,902
Points:2,473,950
Joined:Jun 2007
Message Posted: Sep 18, 2012 11:23:28 PM

But still not dropping
Vette1967
Champion Author Albany

Posts:9,335
Points:2,085,370
Joined:Jun 2009
Message Posted: Sep 18, 2012 11:22:10 PM

Show me the pump price drop.
viperND
Champion Author South Bend

Posts:7,250
Points:1,564,015
Joined:Apr 2011
Message Posted: Sep 18, 2012 11:20:25 PM

gas $2 yet?
millerin
Champion Author Orlando

Posts:5,163
Points:1,244,525
Joined:Jan 2012
Message Posted: Sep 18, 2012 11:19:49 PM

will see tomorrow
5Golfer8
Champion Author Tucson

Posts:5,358
Points:1,082,515
Joined:Jun 2011
Message Posted: Sep 18, 2012 11:19:39 PM

Don't worry Obama wont allow the prices at the pump to go down.
tttmikeb
Champion Author St. Louis

Posts:2,352
Points:727,320
Joined:Sep 2008
Message Posted: Sep 18, 2012 11:19:24 PM

ok
Ltdc
Champion Author Long Island

Posts:10,376
Points:2,435,250
Joined:Jul 2007
Message Posted: Sep 18, 2012 11:15:31 PM

Until it shows up at the pump it doesn't help.
crreed1
Champion Author West Virginia

Posts:5,141
Points:3,245,085
Joined:May 2005
Message Posted: Sep 18, 2012 11:14:29 PM

they drag there ass when it goes down
quasar502
Champion Author Lansing

Posts:6,737
Points:1,597,620
Joined:Jan 2011
Message Posted: Sep 18, 2012 11:14:02 PM

Should be one heck of a lot lower. What a scam.
Blue_Cruzer
Champion Author Lexington

Posts:8,894
Points:1,942,465
Joined:Mar 2007
Message Posted: Sep 18, 2012 11:13:46 PM

Speculation!!
heartbroken2010
Champion Author Ottawa

Posts:7,698
Points:1,706,010
Joined:Aug 2010
Message Posted: Sep 18, 2012 11:13:11 PM

1 day drop , 3 days of rising.
Bigwaynef
Champion Author South Carolina

Posts:15,726
Points:2,886,080
Joined:Dec 2006
Message Posted: Sep 18, 2012 11:12:03 PM

Yay, maybe gas will go down at the alarming rate of 2 cents a week...
unicornpmb
Champion Author Buffalo

Posts:11,864
Points:2,460,095
Joined:Sep 2005
Message Posted: Sep 18, 2012 11:09:29 PM

Right.
joel27nc
Champion Author Raleigh

Posts:13,922
Points:2,684,420
Joined:Mar 2008
Message Posted: Sep 18, 2012 11:08:03 PM

What sharp drop?
rahcat
Champion Author Grand Rapids

Posts:6,105
Points:1,493,450
Joined:Jan 2010
Message Posted: Sep 18, 2012 11:07:21 PM

Goes up like a rocket .......drops like a feather.
inspiretl
Veteran Author New Jersey

Posts:417
Points:169,730
Joined:May 2012
Message Posted: Sep 18, 2012 11:07:03 PM

oil drops, gas prices stays
judgemobile
Champion Author Ohio

Posts:10,944
Points:3,260,375
Joined:Nov 2005
Message Posted: Sep 18, 2012 11:06:09 PM

greed and speculation still trump supply and demand.
ManOfLeisureII
Champion Author Philadelphia

Posts:5,147
Points:1,264,890
Joined:Jan 2012
Message Posted: Sep 18, 2012 11:04:27 PM

Buy oil company stocks
Ray_10589
Champion Author New York

Posts:8,123
Points:1,969,345
Joined:May 2009
Message Posted: Sep 18, 2012 11:04:05 PM

Conflicting stories
PrinceLH
Champion Author Ontario

Posts:6,084
Points:1,347,545
Joined:Jun 2011
Message Posted: Sep 18, 2012 11:01:18 PM

It will be a short fall and a long rise.
ProRogue
All-Star Author Vancouver

Posts:512
Points:1,289,570
Joined:Dec 2008
Message Posted: Sep 18, 2012 11:00:57 PM

Hear hear, jrsva!

..problem is, it's an easy 20 points. And because this forum has a limited history, these useless comments push away comments from those who may have posted something relevant.

May they NEVER win gas cards!!!
GigHarborHound
Champion Author Tacoma

Posts:4,033
Points:785,610
Joined:Sep 2011
Message Posted: Sep 18, 2012 10:59:08 PM

We'll see!!
menagerie1013
Champion Author San Diego

Posts:2,365
Points:1,328,790
Joined:Apr 2011
Message Posted: Sep 18, 2012 10:54:11 PM

Would be nice if they passed the savings on to the consumer.
jrsva
Champion Author Virginia

Posts:13,440
Points:2,420,050
Joined:Jan 2006
Message Posted: Sep 18, 2012 10:53:14 PM


“hm”
“.”
“ok”

Gee, i don’t know what we would do without such in-depth comments from you folks.
If you cannot get a life and participate in the discussion, go on over to JFF with your fluff.

Mustache_33
All-Star Author Toronto

Posts:900
Points:181,455
Joined:May 2012
Message Posted: Sep 18, 2012 10:42:48 PM

hm
suchont
Veteran Author Los Angeles

Posts:312
Points:175,645
Joined:May 2012
Message Posted: Sep 18, 2012 10:40:58 PM

.
aggietim
Champion Author Fort Worth

Posts:2,392
Points:1,308,005
Joined:Oct 2008
Message Posted: Sep 18, 2012 10:40:51 PM

ok
SavALot
Champion Author Virginia Beach

Posts:10,870
Points:2,472,910
Joined:Apr 2005
Message Posted: Sep 18, 2012 10:40:31 PM

Sharp drops and sharp rises
pgerassi
Champion Author Milwaukee

Posts:14,272
Points:2,936,545
Joined:Apr 2007
Message Posted: Sep 18, 2012 10:40:20 PM

KEEP FALLING!
GoGoGoodyear
Champion Author Los Angeles

Posts:5,379
Points:916,930
Joined:Mar 2010
Message Posted: Sep 18, 2012 10:38:01 PM


More than likely speculator action if the market cannot otherwise explain it. Especially after the expected rise in oil price last week caused by the Fed's QE-3, and the continuing bad news out of the middle east.

BoerneWatch
Champion Author San Antonio

Posts:19,094
Points:3,284,465
Joined:Oct 2005
Message Posted: Sep 18, 2012 10:36:46 PM

Wait a minute.

We have declining gas inventories, increased production and oil is dropping?

DrCashFlow
Champion Author Massachusetts

Posts:10,303
Points:2,414,610
Joined:Jun 2008
Message Posted: Sep 18, 2012 10:34:59 PM

if fed is going to flood forever, hedge gas prices by owning some gold
abcdMA
Champion Author Worcester

Posts:11,247
Points:2,371,915
Joined:Nov 2008
Message Posted: Sep 18, 2012 10:34:17 PM

temporary drop off
LostToo
Champion Author Illinois

Posts:4,392
Points:975,315
Joined:May 2009
Message Posted: Sep 18, 2012 10:34:12 PM

"ICE Futures exchance"????? The future of ICE is water.
fowlcan
Champion Author Oklahoma City

Posts:3,781
Points:1,418,530
Joined:Feb 2011
Message Posted: Sep 18, 2012 10:29:14 PM



The dip here was reflected at the pump by 1Cent / gallon.
fullauto
Champion Author Reading

Posts:7,155
Points:1,890,470
Joined:Apr 2008
Message Posted: Sep 18, 2012 10:29:12 PM

push-ups
IUVidiot
Champion Author Indiana

Posts:6,974
Points:1,538,610
Joined:Jun 2011
Message Posted: Sep 18, 2012 10:23:30 PM

Nothing dropping here
tonoplast
Champion Author Lexington

Posts:2,969
Points:1,097,510
Joined:Apr 2011
Message Posted: Sep 18, 2012 10:23:26 PM

Yep. The weakening dollar means every import costs more.
benjy
Champion Author Chicago

Posts:11,163
Points:2,565,705
Joined:Nov 2003
Message Posted: Sep 18, 2012 10:23:20 PM

oil down and gas is up... go figure...
wayoung56
Champion Author Alabama

Posts:6,036
Points:1,626,910
Joined:Oct 2006
Message Posted: Sep 18, 2012 10:22:59 PM

Wish this news would cause gas prices to go down, but the oil companies and the NoBama administration will figure out some reason to keep prices up...
Post a reply Back to Topics