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GasBuddy News Article

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WTI Drops to Seven-Week Low; U.S. Supplies Seen Rising

Bloomberg -- Oil fell to a seven-week low before a report that may show U.S. crude inventories rose. Futures slid with stocks and the euro as Italy’s inconclusive elections spurred concern that Europe’s debt crisis may worsen.

West Texas Intermediate declined as much as 1.3 percent to $91.92 a barrel, the lowest intraday price since Jan. 4. U.S. crude supplies probably climbed to the highest in seven months, a Bloomberg News survey showed before Energy Department data tomorrow. The U.S. and its partners are urging Iran to accept an updated offer at talks on the country’s nuclear program today. Early results suggested Italy’s election would lead to a hung parliament and another vote.

“Regardless of the election results in Italy, core Europe is in recession,” said Guy Wolf, a strategist at London ...


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Submitted Feb 26, 2013 By: brbaritone
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: WTI Drops to Seven-Week Low; U.S. Supplies Seen Rising Back to Topics
REPLIES (newest first) Post a Reply
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Jeff1944
Champion Author South Dakota

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Message Posted: Feb 26, 2013 5:00:36 PM

Good news.
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GoLancer4
Champion Author Ohio

Posts:1,812
Points:547,890
Joined:Sep 2011
Message Posted: Feb 26, 2013 4:55:11 PM

and yet the prices rise
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sdiddydaddy
Champion Author Grand Rapids

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Points:853,785
Joined:Jan 2012
Message Posted: Feb 26, 2013 4:30:59 PM

WTI? WTH

[Edited by: sdiddydaddy at 2/26/2013 5:31:42 PM EST]
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RAE344
Champion Author Virginia Beach

Posts:5,716
Points:1,265,110
Joined:Jun 2011
Message Posted: Feb 26, 2013 4:06:19 PM

With no new refineies, does it matter?
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M_Pruz
Sophomore Author Flint

Posts:138
Points:571,020
Joined:Dec 2012
Message Posted: Feb 26, 2013 4:02:18 PM

GR8, just Gr8.
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bowler300MO
Champion Author Missouri

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Points:1,350,025
Joined:Mar 2010
Message Posted: Feb 26, 2013 3:57:13 PM

follow the Money, if Europe is in recession, steal it from the Americans and put them in a recession too
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Bud122CA
Champion Author California

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Joined:Jul 2008
Message Posted: Feb 26, 2013 3:49:50 PM

Inventories up, consumption down and prices up??? HUM!!!!
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labombaOH
Veteran Author Ohio

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Points:135,040
Joined:Nov 2007
Message Posted: Feb 26, 2013 3:47:45 PM

Caaaaaaaaaaaaaaching for the oil Companies......God bless'em all
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TNT2EC
Champion Author Wisconsin

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Joined:Oct 2008
Message Posted: Feb 26, 2013 3:46:54 PM

Just another reason to keep raising prices. Any reason is a good reason to raise prices.
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labombaOH
Veteran Author Ohio

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Message Posted: Feb 26, 2013 3:45:54 PM

This will keep Di*k Cheneys heart beating awhile longer ...
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Voltus
Champion Author Miami

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Message Posted: Feb 26, 2013 3:37:32 PM

prices go up anyway
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boatcrazyinme
Champion Author Maine

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Message Posted: Feb 26, 2013 3:34:57 PM

But but obama says everything is fine an thing are going great in his world!
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nemoFL
Champion Author Florida

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Message Posted: Feb 26, 2013 3:34:47 PM

cool
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dpt
Champion Author Michigan

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Message Posted: Feb 26, 2013 3:34:38 PM

Michigan evidently isn't impressed. The prices even went up in Menominee, MI, which tends to buck the trends. No price hike in WI, where all of Menominee's gas comes from.
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TRAIN RIDER
Champion Author San Bernardino

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Message Posted: Feb 26, 2013 3:33:44 PM

Yep that is a good reason for oil companies to raise prices. Yep.
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chillyman3
Champion Author Illinois

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Message Posted: Feb 26, 2013 3:33:25 PM

Martha Stewart of the last 16yrs
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mrmike75
All-Star Author Las Vegas

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Message Posted: Feb 26, 2013 3:32:44 PM

rising and lower, surplus- deficiency...make up your rotten minds! None of that helps us consumers out
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zaq001
Champion Author Atlanta

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Message Posted: Feb 26, 2013 3:29:11 PM

Won't matter about WTI. Gasoline prices are still going to rise.
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roger1315
Champion Author North Carolina

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Message Posted: Feb 26, 2013 3:27:01 PM

The next holiday will take care of it
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NMRawker
Champion Author New Mexico

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Message Posted: Feb 26, 2013 3:26:37 PM

BushBot's fault!
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iamforiu
Champion Author Indiana

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Message Posted: Feb 26, 2013 3:26:26 PM

pure politics
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splitrman
Champion Author Victoria

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Message Posted: Feb 26, 2013 3:26:06 PM

nice. stocks up, crude down, prices up. Thanks big oil and the as**ole speculators.
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RapMassaG
Champion Author Cincinnati

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Message Posted: Feb 26, 2013 3:24:55 PM

"its called greed allowed by the bush administration"

>>>>>>>>>>>>>>>>>>>Not really true. As much as I hated Dubya, the REAL blame lies with 3 CONgressmen(Gramm, Leach and Bailey - all Republicans) and Slick Willie Clinton(a Democrat), for creating and signing into law the CFMA of 2000.


[Edited by: RapMassaG at 2/26/2013 4:25:33 PM EST]
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Sneakers55
Champion Author Houston

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Message Posted: Feb 26, 2013 3:24:12 PM

On Feb 26, 2013 6:51:31 AM, txequitygas wrote:

>how long will this last, without an energy plan from Obuma

As if Texas oilman Boy Bush had any sort of an energy plan.
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gaspumpin
Champion Author Indiana

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Message Posted: Feb 26, 2013 3:22:54 PM

Don't worry--there's plenty of time and excuses for prices to go up.
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puckster5
All-Star Author Toronto

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Message Posted: Feb 26, 2013 3:21:43 PM

its called greed allowed by the bush administration
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snell snail
Champion Author Atlanta

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Message Posted: Feb 26, 2013 3:21:24 PM

...everything is counterintuitive.......!
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RichFWA
Champion Author Tacoma

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Message Posted: Feb 26, 2013 3:20:55 PM

Don't worry Memorial day will raise prices more!
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DeHavilland
Champion Author Toronto

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Message Posted: Feb 26, 2013 3:19:53 PM

I don't think so, dollarwatcher. We know that the pump price will go up regardless of what's going on.
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Gramps001
Champion Author North Carolina

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Message Posted: Feb 26, 2013 3:19:26 PM

NINJA MATH again!
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Discovery02
Champion Author Colorado Springs

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Message Posted: Feb 26, 2013 3:18:47 PM

Core Europe is in recession and we'll being joining them if Big Oil has anything to say about it.
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dollarwatcher
Champion Author Wisconsin

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Message Posted: Feb 26, 2013 3:16:43 PM

Does anyone really care any more?
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tidalwave3
Champion Author Tallahassee

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Message Posted: Feb 26, 2013 3:16:31 PM

The Speculators are consumers worst nightmare :(
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nigelb
Champion Author Virginia

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Message Posted: Feb 26, 2013 3:14:25 PM

I wish the laws of supply and demand still applied but they don't thanks to the speculators. The speculators must be regulated. Raise the margin requirement and make them take delivery on their contracts. Sadly, the pinhead Republicans idiots will oppose any regulation, just as they opposed regulating Wall Street and the banks after the financial collapse. The GOBP has the interest of big business and the very wealthy (read big contributors) at heart, not those of the middle class. Vote them out in 2014!
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mycar2
Champion Author Akron

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Message Posted: Feb 26, 2013 3:14:24 PM

so why are prices jumping up?
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IUVidiot
Champion Author Indiana

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Message Posted: Feb 26, 2013 3:13:12 PM

up up and away
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PatrickHenry
Champion Author Illinois

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Message Posted: Feb 26, 2013 3:12:17 PM

Which should drive prices lower, right?...
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cifuentesab
Champion Author Sacramento

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Message Posted: Feb 26, 2013 3:10:58 PM

and prices still rise
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FPLREP
Champion Author Virginia

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Message Posted: Feb 26, 2013 3:10:12 PM

Jayburt, your angry at the wrong crowd...look no further than the trading floor.
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Jayburt
Champion Author Toledo

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Message Posted: Feb 26, 2013 3:06:05 PM

yet prices in my area are sky high?How much money do the big oil fat cats need?And how much can they hurt those of us already struggling now
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satrn38mpg
Champion Author Raleigh

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Message Posted: Feb 26, 2013 3:04:35 PM

another old story >>
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thomas41546
Champion Author Tennessee

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Message Posted: Feb 26, 2013 3:04:09 PM

oil dropped 6 dollars a barrel since last week. Today price at the pump dropped 1 lousy penny
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boldrph
Champion Author Topeka

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Message Posted: Feb 26, 2013 3:02:39 PM

if the teapugs continue to push the usa into a recession, gas prices could be $2 in a few weeks
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swepson
Champion Author Greensboro

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Message Posted: Feb 26, 2013 3:01:19 PM

Sounds like good news.
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aarrrt
Champion Author San Diego

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Message Posted: Feb 26, 2013 3:00:51 PM

The EU problems will only get worse.
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ChuckGVT
Champion Author Vermont

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Message Posted: Feb 26, 2013 3:00:32 PM

Won't be so positive on gas prices.
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eye-spy
Champion Author Quebec

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Message Posted: Feb 26, 2013 3:00:15 PM

Oh....Hum....zzzzz.
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defuzer
Veteran Author Virginia

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Message Posted: Feb 26, 2013 2:54:46 PM

eh
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katmandue
Champion Author Detroit

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Message Posted: Feb 26, 2013 2:53:28 PM

So that's why prices jumped up 20 cents a gallon!
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Thirsty496
Rookie Author Florida

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Message Posted: Feb 26, 2013 2:52:10 PM

Finally saw a decrease locally today, dropped 3 cents a gallon at a couple stations. Not much to be excited about but at least it stopped going up...for now
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