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GasBuddy News Article

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Oil gains on Mideast uncertainty, higher dollar

MarketWatch -- Crude-oil futures extended gains in electronic trading Thursday amid a falling dollar and uncertainty in the Middle East despite a cease-fire between Israel and Hamas.

Benchmark U.S. crude oil for January delivery rose 26 cents, or 0.3%, to $87.64 a barrel on Globex during Asia trading hours.

Thursday’s gains came after the January contract settled at $87.38 a barrel for a gain of 0.7% in Wednesday’s regular session on the New York Mercantile Exchange.

Nymex floor trading was scheduled to close Thursday for Thanksgiving, with an abbreviated session slated for Friday.

GFT technical analyst Fawad Razaqzada said it looks like crude oil is forming a bottom.

The benchmark contract “broke through a bearish trend line on Friday, and although the bounce proved short-lived in nature, ...


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Submitted Nov 22, 2012 By: brbaritone
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil gains on Mideast uncertainty, higher dollar Back to Topics
REPLIES (newest first) Post a Reply
CSharpGuy
Champion Author Colorado Springs

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Message Posted: Nov 24, 2012 10:36:52 AM

what's new
52MPG
Champion Author Dayton

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Message Posted: Nov 24, 2012 12:14:40 AM

The only thing for sure is change.
DanMtz
Champion Author Oakland

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Message Posted: Nov 23, 2012 11:31:03 AM

Same old story.
jethro5000
Champion Author Kentucky

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Message Posted: Nov 23, 2012 9:48:39 AM

The US dollar will continue to fall in value until we escape this fiscal Clift...
rjhenn
Champion Author Des Moines

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Message Posted: Nov 23, 2012 2:20:40 AM

Interesting how some comment on the headline without actually reading any of the article.

The headline says "higher dollar". The very first sentence of the OP says "falling dollar".
jetskijerry
Champion Author North Carolina

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Message Posted: Nov 22, 2012 11:29:03 PM

crooks
too_darned_high
Champion Author Indianapolis

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Message Posted: Nov 22, 2012 11:24:22 PM

I think pastorpaul is definitely onto something. No matter how this turns out between Israel and Hamas, nothing good will come out of it and we will all pay the price.
rjoeh
Champion Author Michigan

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Message Posted: Nov 22, 2012 11:24:00 PM

Its amazing how turmoil a world away can wreck havoc with our day to day life.
crreed1
Champion Author West Virginia

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Message Posted: Nov 22, 2012 11:19:40 PM

it's BS
Gassed01
Champion Author Toronto

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Message Posted: Nov 22, 2012 11:19:35 PM

More trouble to come from Egypt. Their new leader just effectively declared himself dictator. Thank goodness they don't have oil to use to blackmail oil markets. What does Egypt have? Cotton sheets. Watch the cotton sheet market go crazy.
pastorpaulcg
Champion Author Virginia

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Message Posted: Nov 22, 2012 11:16:36 PM

First it's "oil gains when dollar is weak" now it's "oil gains when dollar strengthens" I smell something
gmcgas
Champion Author Atlanta

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Message Posted: Nov 22, 2012 11:15:54 PM

very sad
LocalSpyGuy
Champion Author Tampa

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Message Posted: Nov 22, 2012 11:15:22 PM

Mideast is always uncertain.
tedjm1
Champion Author New York

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Message Posted: Nov 22, 2012 11:15:11 PM

Happy Thanksgiving!!!!!
silverfox63
Champion Author Michigan

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Message Posted: Nov 22, 2012 11:15:03 PM

Looks like higher prices at the pump again.
Matt G
Champion Author Boston

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Message Posted: Nov 22, 2012 11:13:20 PM

This a double sad story
Number43
Champion Author Lexington

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Message Posted: Nov 22, 2012 11:12:55 PM

Real news: Speculators have jumped in to buy more oil futures and thus raise the price as to churn the markets and rob the little man. If obummer wants to raise taxes on these crooks then good for him. They stole it from us.
obimerrill
Champion Author Cincinnati

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Message Posted: Nov 22, 2012 11:12:48 PM

Obama has the power as President to help steady things, but doesn't have the guts to do it...he can't even admit when he screws up (Benghazi)
Matt G
Champion Author Boston

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Message Posted: Nov 22, 2012 11:12:38 PM

This is a sad story
rahcat
Champion Author Grand Rapids

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Message Posted: Nov 22, 2012 11:08:42 PM

We won't have to worry if the Mayan calender is correct on December 21st.
Number43
Champion Author Lexington

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Message Posted: Nov 22, 2012 11:08:08 PM

Gas prices go up on greedy speculators need to rob americans.
carpenter4u
Champion Author Virginia

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Message Posted: Nov 22, 2012 11:06:01 PM

prices should fall if dollar higher
DJRIO
Champion Author Miami

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Message Posted: Nov 22, 2012 11:05:41 PM

endorse natural gas as transport fuel. give oil its competition and it dropp regardless.
mrbee
Champion Author Little Rock

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Message Posted: Nov 22, 2012 11:04:40 PM

Imagine that.
cheaper0ON
Champion Author Ontario

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Message Posted: Nov 22, 2012 11:04:19 PM

ok.
snky2k
Champion Author Indianapolis

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Message Posted: Nov 22, 2012 11:03:21 PM

Old story.
PrinceLH
Champion Author Ontario

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Message Posted: Nov 22, 2012 11:01:46 PM

Bullshit at it's best!
seahawks
Champion Author Washington

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Message Posted: Nov 22, 2012 10:56:49 PM

that is a true statement!!!
tco9436
Champion Author Connecticut

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Message Posted: Nov 22, 2012 10:55:48 PM

OK
ktbaeohana
Champion Author Las Vegas

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Message Posted: Nov 22, 2012 10:52:05 PM

watch and see.
jrsva
Champion Author Virginia

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Message Posted: Nov 22, 2012 10:42:19 PM

“America has plenty of oil, but Obama won't allow drilling. Even if he did, he would tax the . . . .”

That’s complete BS and you (everyone) ought to know it. There is more drilling in the US now than there has been for years. Oil production is increasing every year and the federal gas tax has not changed for over a decade. We are importing less mid-east oil but we are still vulnerable to price fluctuation because oil is a global commodity.

And no, we do not need the XL pipeline. It is designed to carry trash oil from the tar sands to the Gulf coast, more than likely for export. Canada should wise up and leave that junk in the ground instead of widening their environmental disaster in the sub-arctic.


[Edited by: jrsva at 11/22/2012 11:45:28 PM EST]
DutchTreatMI
Champion Author Grand Rapids

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Message Posted: Nov 22, 2012 10:37:44 PM

Why is prices based on the middle east so much?
civicdutie
Champion Author Rochester

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Message Posted: Nov 22, 2012 10:35:57 PM

As thing eventually settle down in the Middle East, prices will fall again.
mfeldstein
Champion Author Ottawa

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Message Posted: Nov 22, 2012 10:34:09 PM

nd73 ... Hogwash.
SandeeC
Champion Author Ontario

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Message Posted: Nov 22, 2012 10:33:07 PM

Yeah, nd73, I hear the same thing from up here in Canada. And, in spite of what some say, I can't see Obama approving the pipeline from Canada since he rejected it before the election.
jrsva
Champion Author Virginia

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Message Posted: Nov 22, 2012 10:32:39 PM


We can give thanks for the (brief?) break in the Israel-Hamas war. Oil will go up a lot more if it escalates into a full-scale ground war.
nd73
Champion Author Grand Rapids

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Message Posted: Nov 22, 2012 10:28:21 PM

America has plenty of oil, but Obama won't allow drilling. Even if he did, he would tax the snot out of it, just to keep the prices high. He and his regime have already stated that they want prices as high as Europe - around $7-8 a gallon. So with a free ride for another 4 years, Obama will get what he wants. Congratulations to all the suckers who voted for him.
CAD69
Champion Author Milwaukee

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Message Posted: Nov 22, 2012 10:27:43 PM

We are getting less oil from the Mideast! We need the XL now!
DrLyon
Champion Author Michigan

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Message Posted: Nov 22, 2012 10:23:59 PM

Worry less about OPEC...
gd83goldwinger
Champion Author South Bend

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Message Posted: Nov 22, 2012 10:23:31 PM

All I see and hear is a lot of talk talk.............
papou
Champion Author Tampa

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Message Posted: Nov 22, 2012 10:21:23 PM

Let's use Americable we have plenty of it cut off the mid East
The_DR
Champion Author New Jersey

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Message Posted: Nov 22, 2012 10:19:47 PM

Go down!
Prodaddy
Champion Author Houston

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Message Posted: Nov 22, 2012 10:17:55 PM

We need to forget middle east oil and use U.S. oil
shari128
All-Star Author Iowa

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Message Posted: Nov 22, 2012 10:17:44 PM

They need to go the opposite way. Down, way down!!
megadiesellv
Champion Author Atlanta

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Message Posted: Nov 22, 2012 10:17:36 PM

should be going down soon.
Spirits
All-Star Author Florida

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Message Posted: Nov 22, 2012 10:14:51 PM

There's always a reason to raise it.
HoBuddy2012
Sophomore Author Toronto

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Message Posted: Nov 22, 2012 10:13:30 PM

ok...
Bonito
Champion Author Dayton

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Message Posted: Nov 22, 2012 10:10:20 PM

MORE BULL! THE RICH FIX THE MARKET!
nigelb
Champion Author Virginia

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Message Posted: Nov 22, 2012 10:10:15 PM

Any excuse as ususal. This is why we need viable alternative energy!
Stevedog
Champion Author Michigan

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Message Posted: Nov 22, 2012 10:09:08 PM

Who's responsible for the daily reasoning in crude oil price changes?
MinnesotaDJ
Champion Author Minnesota

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Message Posted: Nov 22, 2012 10:08:29 PM

Thankful for the cease fire today!
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