GasBuddy Blog

GasBuddy News Article

votes

What’s behind oil’s 5% drop this week

Yahoo -- Another sharp drop in oil futures prices Wednesday raised questions about how well oil markets are functioning and how much fundamental reasons are playing a role.

Oil markets, already jittery from a steep, so far unexplained drop in a frenzied half hour on Monday, were shaken by another fall on Wednesday, albeit less pronounced and not as swift as Monday’s.

Wednesday’s drop has been blamed on comments from Saudi officials, and on technical trends that created resistance above $100.

Some analysts also pointed to seasonal patterns, and demand worries.

Read the Full Article

Submitted Sep 20, 2012 By: MidNJ

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: What’s behind oil’s 5% drop this week	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First

Next Last

honda0105 Champion Author Tallahassee Posts:18,624 Points:1,609,520 Joined:Nov 2008	Message Posted: Sep 24, 2012 4:50:56 AM Ignore honda0105 Report Abuse PDQ: it might be that they are trying to sway the political barometer.
PDQBlues Champion Author San Diego Posts:7,074 Points:1,448,325 Joined:Jan 2009	Message Posted: Sep 20, 2012 10:22:20 PM Ignore PDQBlues Report Abuse Pramodsharma: answer: Hefty increase in previous week That would seem reasonable, except oil prices have been even higher. Somewhere, the manipulators of the oil and gas prices have decided that something drastically has changed to cause them to quickly lower prices. Could it be they see the writing on the wall in US politics?
Pramodsharma Champion Author Richmond Posts:1,974 Points:387,390 Joined:Feb 2012	Message Posted: Sep 20, 2012 5:27:19 PM Ignore Pramodsharma Report Abuse answer: Hefty increase in previous week
hybridaholic Champion Author Appleton Posts:8,365 Points:1,556,565 Joined:Dec 2008	Message Posted: Sep 20, 2012 12:27:27 PM Ignore hybridaholic Report Abuse Greed only gets them so far.
1972Pinto Champion Author Wisconsin Posts:189,098 Points:282,830 Joined:Aug 2012	Message Posted: Sep 20, 2012 9:15:20 AM Ignore 1972Pinto Report Abuse gas might drop 2% in a few months
scu227 Champion Author New Haven Posts:4,152 Points:771,880 Joined:Feb 2011	Message Posted: Sep 20, 2012 7:39:46 AM Ignore scu227 Report Abuse Never should have been as high as it was and still needs to be significantly lower!
alex395 Champion Author Louisville Posts:2,049 Points:276,640 Joined:Jan 2007	Message Posted: Sep 20, 2012 7:27:02 AM Ignore alex395 Report Abuse I know what is not behind the drop, Obama.
jrny_freak Champion Author Hartford Posts:1,675 Points:269,695 Joined:Jun 2012	Message Posted: Sep 20, 2012 6:49:39 AM Ignore jrny_freak Report Abuse so when will we see prices go down at the pump - if it had increased we'd already see it at the pump
MImusicman Champion Author Michigan Posts:1,873 Points:407,675 Joined:Mar 2012	Message Posted: Sep 20, 2012 6:48:39 AM Ignore MImusicman Report Abuse build more refineries and keep drilling...it'll come down more.
trashmandan33 Sophomore Author Huntsville Posts:213 Points:527,105 Joined:Jan 2010	Message Posted: Sep 20, 2012 6:29:03 AM Ignore trashmandan33 Report Abuse Great
Radar1992 Champion Author Florida Posts:1,325 Points:310,165 Joined:Dec 2011	Message Posted: Sep 20, 2012 6:10:59 AM Ignore Radar1992 Report Abuse Let's build refineries....bottom line.
FPLREP Champion Author Virginia Posts:8,261 Points:2,448,250 Joined:Oct 2005	Message Posted: Sep 20, 2012 5:50:50 AM Ignore FPLREP Report Abuse Who cares what caused it, just let it happen weekly.
ReddevilNO Champion Author New Orleans Posts:3,371 Points:581,190 Joined:Aug 2011	Message Posted: Sep 20, 2012 5:48:51 AM Ignore ReddevilNO Report Abuse Who knows?
dandvicb Champion Author Bridgeport Posts:1,232 Points:1,076,955 Joined:Jul 2004	Message Posted: Sep 20, 2012 5:32:54 AM Ignore dandvicb Report Abuse awwwwwwwwwwwwwwww
wrunner Champion Author Virginia Posts:4,445 Points:1,137,335 Joined:Dec 2009	Message Posted: Sep 20, 2012 5:32:01 AM Ignore wrunner Report Abuse Smoke and mirrors from the bait and switch gang.
daequitz Champion Author New Jersey Posts:6,322 Points:1,384,580 Joined:Jan 2007	Message Posted: Sep 20, 2012 5:18:55 AM Ignore daequitz Report Abuse Pure and simple, market manipulation. And I doubt it was accidental.
7SPEEDY7 Champion Author Flint Posts:1,291 Points:605,675 Joined:May 2011	Message Posted: Sep 20, 2012 4:35:15 AM Ignore 7SPEEDY7 Report Abuse Never see it @ the Pump!!
WalRus49 Champion Author Boston Posts:4,075 Points:868,865 Joined:Nov 2010	Message Posted: Sep 20, 2012 3:49:40 AM Ignore WalRus49 Report Abuse More organied mayhem and pillage.................
LEGION57 Champion Author South Carolina Posts:1,676 Points:283,110 Joined:Mar 2011	Message Posted: Sep 20, 2012 3:07:04 AM Ignore LEGION57 Report Abuse Only the Shadow knows for sure!
singlemom27 Champion Author Ventura Posts:3,113 Points:640,185 Joined:Apr 2011	Message Posted: Sep 20, 2012 2:08:11 AM Ignore singlemom27 Report Abuse speculation should be outlawed...
gougenator Champion Author Dallas Posts:29,861 Points:3,245,900 Joined:Aug 2003	Message Posted: Sep 20, 2012 2:00:56 AM Ignore gougenator Report Abuse loaded with more bull poo!
Tomeboy Champion Author Twin Cities Posts:3,769 Points:560,090 Joined:Apr 2009	Message Posted: Sep 20, 2012 1:33:09 AM Ignore Tomeboy Report Abuse Drop oil prices... Drop!! The price of gasoline in my area of the Twin Cities Metro was at $3.99 a gallon Saturday 9-15. The prices are steadily falling and two gas stations near me are at $3.78 a gallon on Wednesday 9-19. That's a .21 cent drop in 4-days!! [Edited by: Tomeboy at 9/20/2012 2:37:16 AM EST]
UseLessGasFolks Champion Author Iowa Posts:5,451 Points:1,296,825 Joined:Jul 2007	Message Posted: Sep 20, 2012 1:21:57 AM Ignore UseLessGasFolks Report Abuse I wish it was a massive wave of Americans committed to conservation. Unfortunately most Americans seem content to point the finger of blame instead of taking action themselves. Previous generations would be ashamed of the whiny masses we have become.
hubcapLA Champion Author Louisiana Posts:3,905 Points:940,435 Joined:Apr 2009	Message Posted: Sep 20, 2012 1:12:42 AM Ignore hubcapLA Report Abuse Who really knows?
Tomeboy Champion Author Twin Cities Posts:3,769 Points:560,090 Joined:Apr 2009	Message Posted: Sep 20, 2012 1:06:33 AM Ignore Tomeboy Report Abuse Evidently... some people haven't read the headlines of this article. "What’s behind Oil's 5% drop this week" Oil... "Black Gold" to Speculators and Big Oil. If you read the whole article you will find out the article is about the price of oil and not the price of gasoline.
barber7796 Veteran Author Oklahoma Posts:426 Points:277,560 Joined:May 2012	Message Posted: Sep 20, 2012 1:05:57 AM Ignore barber7796 Report Abuse Gas prices will drop: hopefully sooner rather than later.
outlaw329 Champion Author Austin Posts:7,616 Points:1,374,405 Joined:Aug 2008	Message Posted: Sep 20, 2012 1:05:24 AM Ignore outlaw329 Report Abuse Any drop is a good drop
windows7isfast Champion Author Winnipeg Posts:2,409 Points:491,250 Joined:Nov 2011	Message Posted: Sep 20, 2012 1:05:16 AM Ignore windows7isfast Report Abuse ok
snky2k Champion Author Indianapolis Posts:1,398 Points:304,315 Joined:Mar 2012	Message Posted: Sep 20, 2012 1:04:25 AM Ignore snky2k Report Abuse Meh.
chillyman3 Champion Author Illinois Posts:1,355 Points:424,390 Joined:Jan 2012	Message Posted: Sep 20, 2012 1:01:53 AM Ignore chillyman3 Report Abuse Ok
barber7796 Veteran Author Oklahoma Posts:426 Points:277,560 Joined:May 2012	Message Posted: Sep 20, 2012 1:01:26 AM Ignore barber7796 Report Abuse Gas prices will drop: hopefully sooner rather than later.
eomc17 Champion Author Tucson Posts:1,822 Points:134,145 Joined:Mar 2007	Message Posted: Sep 20, 2012 1:01:13 AM Ignore eomc17 Report Abuse MOST OF THE AMERICAN PEOPLE ARE FULLY AWARE THAT OIL AND GASOLINE ARE WAY OVERPRICED BUT ARE POWERLESS TO DO ANYTHING ABOUT WHEN THE GOVERNMENT SEEMS TO EMBRACE HIGH ENERGY PRICES. SO MUCH FOR OUR GOVERNMENT LOOKING OUT FOR ITS PEOPLE INSTEAD OF FINDING MORE SCHEMES TO CUT DOWN OUR ALREADY SHRUNKEN MONEY TREES.
69Bonne Champion Author Gary Posts:1,155 Points:474,125 Joined:Sep 2005	Message Posted: Sep 20, 2012 1:00:11 AM Ignore 69Bonne Report Abuse Ok.
kd5kpd Champion Author Texas Posts:3,741 Points:1,417,700 Joined:Apr 2006	Message Posted: Sep 20, 2012 12:56:49 AM Ignore kd5kpd Report Abuse SSDD
PrinceLH Champion Author Ontario Posts:2,697 Points:539,020 Joined:Jun 2011	Message Posted: Sep 20, 2012 12:56:13 AM Ignore PrinceLH Report Abuse A lack of people driving?
prius22 Champion Author Twin Cities Posts:2,214 Points:388,310 Joined:Apr 2012	Message Posted: Sep 20, 2012 12:56:08 AM Ignore prius22 Report Abuse Very unpredictable
unclenorman Champion Author Tampa Posts:1,348 Points:140,250 Joined:Jan 2012	Message Posted: Sep 20, 2012 12:52:59 AM Ignore unclenorman Report Abuse NOT in Tarpon Springs,FL.
Tomeboy Champion Author Twin Cities Posts:3,769 Points:560,090 Joined:Apr 2009	Message Posted: Sep 20, 2012 12:52:24 AM Ignore Tomeboy Report Abuse Wednesday’s sharp drop in crude oil prices sideswiped virtually all the major oil producers and speculators on the New York Stock Exchange.
tml721 Champion Author Columbus Posts:12,615 Points:2,390,525 Joined:Jul 2005	Message Posted: Sep 20, 2012 12:51:53 AM Ignore tml721 Report Abuse drop. WHERE? I don't see no stinking drop !!!
leraar2 Champion Author Massachusetts Posts:3,764 Points:787,680 Joined:Mar 2011	Message Posted: Sep 20, 2012 12:51:45 AM Ignore leraar2 Report Abuse SPECULATOR nervousness?
Tomeboy Champion Author Twin Cities Posts:3,769 Points:560,090 Joined:Apr 2009	Message Posted: Sep 20, 2012 12:51:42 AM Ignore Tomeboy Report Abuse Oil prices dropped...
Joliet_Johnny Rookie Author Illinois Posts:87 Points:30,115 Joined:Mar 2011	Message Posted: Sep 20, 2012 12:48:46 AM Ignore Joliet_Johnny Report Abuse what is a price drop? It went up here.
jorod55 Champion Author California Posts:1,480 Points:431,950 Joined:Dec 2011	Message Posted: Sep 20, 2012 12:44:15 AM Ignore jorod55 Report Abuse No price drops around here anywhere.
blitzntj Champion Author Jacksonville Posts:4,679 Points:944,830 Joined:Dec 2007	Message Posted: Sep 20, 2012 12:43:23 AM Ignore blitzntj Report Abuse Doesn't matter....the price at the pump won't come down
Liberty2000 Champion Author Indianapolis Posts:1,739 Points:280,520 Joined:Jun 2007	Message Posted: Sep 20, 2012 12:41:57 AM Ignore Liberty2000 Report Abuse Wait til WW3 in the Middle East!
ftsgt Champion Author Illinois Posts:13,047 Points:2,483,695 Joined:Dec 2004	Message Posted: Sep 20, 2012 12:40:10 AM Ignore ftsgt Report Abuse odd goings on
lunarrv15 Champion Author Cincinnati Posts:14,868 Points:2,385,310 Joined:Dec 2005	Message Posted: Sep 20, 2012 12:38:30 AM Ignore lunarrv15 Report Abuse okay...interesting thanks for posting
TIGERPAW46 Champion Author Florida Posts:7,131 Points:1,356,655 Joined:Mar 2004	Message Posted: Sep 20, 2012 12:33:53 AM Ignore TIGERPAW46 Report Abuse Saudi agreed to increase it's oil output so the speculators got worried they wouldn't be able to command as much for their supplies they have been hording. So they are dumping them. when the price drops they will just use the proceeds to buy more at a lower price than they sold and make more money at our expense. You can thank Washington for not doing anything to limit speculation at least within the US markets & on US products. Also for not lessening allowed Export of US oil & diesel before now. We currently Export enough from the USA to EQUAL WHAT WE IMPORT FROM OPEC.
mcmonsta Champion Author Honolulu Posts:3,227 Points:818,545 Joined:Sep 2009	Message Posted: Sep 20, 2012 12:33:36 AM Ignore mcmonsta Report Abuse 5 % a week for the next few weeks works for me and a lot of others...how else
TheHermit Champion Author Maine Posts:3,404 Points:127,780 Joined:May 2012	Message Posted: Sep 20, 2012 12:28:30 AM Ignore TheHermit Report Abuse Who cares why just so long as it keeps dropping and gas prices follow.