Oil falls below $140 a barrel - Baltimore Gas Prices

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Thursday, August 21, 2008 10:14:33 PM

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GasBuddy News Article

Oil falls below $140 a barrel Tuesday, July 08, 2008
CNN Money -- VIENNA, Austria (AP) -- Oil prices swung below $140 a barrel Tuesday after a plunge of nearly $4 in the previous session, as the dollar strengthened and fears of a supply disruption faded. But analysts warned the pullback was likely to be fleeting. "The plunge is really a temporary bull correction and is viewed by the market as a buying opportunity," said Victor Shum, an analyst with Purvin & Gertz in Singapore. "We are also seeing the U.S. dollar easing a bit ... and that has helped support oil pricing."
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	Tuesday, July 08, 2008 CNN Money -- VIENNA, Austria (AP) -- Oil prices swung below $140 a barrel Tuesday after a plunge of nearly $4 in the previous session, as the dollar strengthened and fears of a supply disruption faded. But analysts warned the pullback was likely to be fleeting. "The plunge is really a temporary bull correction and is viewed by the market as a buying opportunity," said Victor Shum, an analyst with Purvin & Gertz in Singapore. "We are also seeing the U.S. dollar easing a bit ... and that has helped support oil pricing." Visit CNN Money for full article

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PathfinderSC All-Star Author South Carolina Posts:673 Points:123,550 Joined:Mar 2008	Message Posted: 7/12/2008 11:26:00 AM	Ignore PathfinderSC Report Abuse
	Watch out , They building us up for a big let down.
zippy452 Sophomore Author Cincinnati Posts:229 Points:91,000 Joined:Oct 2006	Message Posted: 7/12/2008 9:31:07 AM	Ignore zippy452 Report Abuse
	It doesn't take long for this to be a dated topic, does it, since crude oil futures set a new inter-day high of $147.50 Friday.
ramboTX All-Star Author Dallas Posts:613 Points:118,320 Joined:Aug 2007	Message Posted: 7/12/2008 3:08:45 AM	Ignore ramboTX Report Abuse
	It won't last long. We won't benefit from it.
Gee_NY Sophomore Author Texas Posts:125 Points:187,595 Joined:Dec 2007	Message Posted: 7/9/2008 11:55:07 PM	Ignore Gee_NY Report Abuse
	Too bad the PUMPs do not show the PLUNGE!
niceguytx Champion Author Houston Posts:5,243 Points:1,016,745 Joined:Sep 2005	Message Posted: 7/9/2008 2:43:53 PM	Ignore niceguytx Report Abuse
	Good news! Enjoy!
cucamping Champion Author Omaha Posts:3,268 Points:722,440 Joined:Jun 2006	Message Posted: 7/9/2008 1:51:16 PM	Ignore cucamping Report Abuse
	no drop here.
letmathe Champion Author Chicago Posts:6,549 Points:1,619,360 Joined:May 2001	Message Posted: 7/9/2008 11:03:55 AM	Ignore letmathe Report Abuse
	good question
Rageagainsttm Champion Author Tampa Posts:1,458 Points:343,020 Joined:Jul 2007	Message Posted: 7/9/2008 10:53:54 AM	Ignore Rageagainsttm Report Abuse
	then y do some gas stations never drop prices anymore - when the price goes up you'll see these stations raise the price
rbrowdersr All-Star Author Detroit Posts:509 Points:382,005 Joined:Aug 2006	Message Posted: 7/9/2008 10:52:57 AM	Ignore rbrowdersr Report Abuse
	Still looking for a drop at the pump.
kittykatOH Rookie Author Toledo Posts:4 Points:180 Joined:Jul 2008	Message Posted: 7/9/2008 10:52:38 AM	Ignore kittykatOH Report Abuse
	Too many people getting rich with speculating on oil is going to keep it high and then we have the oil barons that don't want to see their profiteering bruised. Ethanol is NOT the answer, either. Just another form of speculating. (It would be nice if some "posters" would use their spell-check, too - I can't believe the awful spelling I come across reading these messages. Guess it provides a good laugh!)
esquared Champion Author Oklahoma City Posts:1,105 Points:569,525 Joined:Jan 2006	Message Posted: 7/9/2008 10:52:35 AM	Ignore esquared Report Abuse
	Blue Light Special: oil on sale at $140 bbl for the next ten minutes only!
Blackice Champion Author Twin Cities Posts:1,360 Points:435,865 Joined:Oct 2003	Message Posted: 7/9/2008 10:50:19 AM	Ignore Blackice Report Abuse
	EGOR you should be investing in silver and gold something you can actually hold in your hand. Plus UncleDunc and others would not think nothing of you profiting...
domer2 Veteran Author Gary Posts:422 Points:289,950 Joined:May 2007	Message Posted: 7/9/2008 10:49:53 AM	Ignore domer2 Report Abuse
	keep falling
letmathe Champion Author Chicago Posts:6,549 Points:1,619,360 Joined:May 2001	Message Posted: 7/9/2008 10:49:31 AM	Ignore letmathe Report Abuse
	OK But when will prices go down?
greywolves All-Star Author Las Vegas Posts:737 Points:847,850 Joined:Dec 2004	Message Posted: 7/9/2008 10:48:30 AM	Ignore greywolves Report Abuse
	this is not a trend yet.
ramshot412 Champion Author Riverside Posts:11,212 Points:1,123,775 Joined:Apr 2004	Message Posted: 7/9/2008 10:46:20 AM	Ignore ramshot412 Report Abuse
	Just as I've been predicting, the price of crude is going to go down.
ripped38 Rookie Author Michigan Posts:86 Points:14,165 Joined:Jun 2006	Message Posted: 7/9/2008 10:45:41 AM	Ignore ripped38 Report Abuse
	I don't buy the inventory numbers. With oil being at unreal highs, news about demand dropping, unexpected builds in gas inventories, and lower refinery utilization numbers, how can we still have a huge draw in oil? With less gasoline being used on top of less oil being refined into gasoline, how can we have anything but a build in gas? What am I missing?
roadkillGA All-Star Author Georgia Posts:778 Points:59,190 Joined:Jun 2008	Message Posted: 7/9/2008 10:41:22 AM	Ignore roadkillGA Report Abuse
	Found one Citgo Station with a Chevron cover blanketing its Citgo sign. I just hope that's one Venezaualian Company down.
MitchelSdReview Veteran Author South Dakota Posts:383 Points:71,605 Joined:Jun 2008	Message Posted: 7/9/2008 10:35:53 AM	Ignore MitchelSdReview Report Abuse
	Oil up 1.38 as of 9:35 CDT
ardmoretoday Veteran Author Oklahoma Posts:425 Points:368,855 Joined:May 2007	Message Posted: 7/9/2008 10:33:50 AM	Ignore ardmoretoday Report Abuse
	Hey "EGOR" be prepared to lose your backside on the investing of oil - the market will burst and it will not be a suttle shift. It will be sharp and painful and then we will be the laughing.
cantonbill Veteran Author Atlanta Posts:320 Points:93,800 Joined:Mar 2008	Message Posted: 7/9/2008 10:32:07 AM	Ignore cantonbill Report Abuse
	And Iran fires some missiles, and the price goes up again. Who wants to say that wasn't staged to keep prices high? I swear even the president, with his rhetoric, seems to want prices higher, instead of lower. How many oil company boards will he join after he's out of office?
UncleDunc Rookie Author Birmingham Posts:21 Points:16,250 Joined:Jun 2008	Message Posted: 7/9/2008 10:27:04 AM	Ignore UncleDunc Report Abuse
	(To Egor) First of all, I'm glad you are profiting from oil prices' 50% hike in the last year, but what about the majority of Americans. I sure hope you're being sarcastic rather than bragging about profiting from oil prices soaring while everyone is getting punished at the pump. It would be nice if all of us had enough extra cash to invest some in oil, but not everyone is that fortunate. So please be mindful of what and how you post messages on this site. Thanks!
laddyboy62 Champion Author Riverside Posts:1,125 Points:904,310 Joined:Mar 2005	Message Posted: 7/9/2008 10:24:37 AM	Ignore laddyboy62 Report Abuse
	and heading north this a.m. again
tazdriver Champion Author Alabama Posts:1,859 Points:481,525 Joined:Jan 2007	Message Posted: 7/9/2008 10:24:09 AM	Ignore tazdriver Report Abuse
	Drill now.
mcevoy22 Sophomore Author Utah Posts:148 Points:37,170 Joined:Jun 2008	Message Posted: 7/9/2008 10:23:21 AM	Ignore mcevoy22 Report Abuse
	As I have seen plenty of times before... Up, Up, Up, down, UP, UP, UP, down, UP, UP, etc.
rbdesigns Veteran Author Modesto Posts:300 Points:86,270 Joined:May 2008	Message Posted: 7/9/2008 10:22:21 AM	Ignore rbdesigns Report Abuse
	No one knows what is going to happen, not even the speculators that are the mail cause of the jump in prices.
Egor Champion Author Regina Posts:1,006 Points:507,190 Joined:Aug 2005	Message Posted: 7/9/2008 10:20:41 AM	Ignore Egor Report Abuse
	Good oil is down. I just invested lots more money in oil. I used to lose all my money whenever I invested. But now I can't lose with oil. I invested several months ago and it kept going up. Now I have even more and there is not way it is going down. I'm getting rich!!!!
kidmikey37 Veteran Author Nevada Posts:417 Points:111,755 Joined:Apr 2008	Message Posted: 7/9/2008 10:14:31 AM	Ignore kidmikey37 Report Abuse
	didn't last
sailormon Veteran Author Michigan Posts:428 Points:158,570 Joined:Jul 2007	Message Posted: 7/9/2008 10:14:26 AM	Ignore sailormon Report Abuse
	Yet I just read an opinion on a financial web site saying oil may pull back to $100! Come on, no one knows what this oil roller coster is going to do!
roydarecker Champion Author Minnesota Posts:2,510 Points:564,305 Joined:Sep 2006	Message Posted: 7/9/2008 10:13:06 AM	Ignore roydarecker Report Abuse
	Iran has plans to change that.
Egaser Sophomore Author Atlanta Posts:177 Points:96,550 Joined:Apr 2006	Message Posted: 7/9/2008 10:11:49 AM	Ignore Egaser Report Abuse
	buy,buy,buy!
NCSigma All-Star Author Charlotte Posts:991 Points:76,595 Joined:Sep 2003	Message Posted: 7/9/2008 10:09:23 AM	Ignore NCSigma Report Abuse
	stoopid specualtors!
MetroManiac All-Star Author Rochester Posts:759 Points:73,765 Joined:Apr 2007	Message Posted: 7/9/2008 10:08:30 AM	Ignore MetroManiac Report Abuse
	this is already outdated news. Oil rebounds on Iranian missile launches
tomok Champion Author Portland Posts:7,822 Points:629,085 Joined:Aug 2006	Message Posted: 7/9/2008 10:03:47 AM	Ignore tomok Report Abuse
	It may fall now but it will be right back up there. And higher then what it is now.
vascojoe All-Star Author Washington Posts:724 Points:844,150 Joined:Aug 2005	Message Posted: 7/9/2008 10:03:23 AM	Ignore vascojoe Report Abuse
	Yes, but has he been accurate in the past.
rbdesigns Veteran Author Modesto Posts:300 Points:86,270 Joined:May 2008	Message Posted: 7/9/2008 9:58:54 AM	Ignore rbdesigns Report Abuse
	It didn't last, Iran had to go and shoot missles.
4wheel Champion Author Pittsburgh Posts:7,960 Points:1,049,865 Joined:Sep 2005	Message Posted: 7/9/2008 9:58:35 AM	Ignore 4wheel Report Abuse
	Dont look now but here comes hurricane season!!!
proverbs3 Rookie Author Detroit Posts:67 Points:21,610 Joined:May 2008	Message Posted: 7/9/2008 9:58:01 AM	Ignore proverbs3 Report Abuse
	I just saw a news clip on foture.com that the price per barrel is so volatile b/c of so many people investing in oil futures recently. They are discussing a way to identify those who are investing just to make some money, vs. those who are actually buying and receiving the futures in an effort to lower their consumption prices of oil, eg. air lines, etc.
popster1225 Rookie Author Florida Posts:5 Points:1,450 Joined:Jul 2008	Message Posted: 7/9/2008 9:57:02 AM	Ignore popster1225 Report Abuse
	We all can do something constructive......write your congressmen! We are being shafted by the Govt. because our representatives are more concerned about re-election rather than serving the American People. They are afraid of the wacko environmentalists. There are numerous things that can be done to greatly decrease our dependence on foreign; don't let our Govt. off the hook. The oil companies are NOT the problem.
Golfvdubb Rookie Author Washington Posts:1 Points:1,720 Joined:Jun 2008	Message Posted: 7/9/2008 9:56:43 AM	Ignore Golfvdubb Report Abuse
	All of these analyst keep speculating that oil will reach X amount by X day. And then the price of oil goes up, a word to all the analyst, "Shut Up!!!". Or start predicting that oil will drop below $100 a barrel, and I bet the prices would start coming down.
CrazyQ Champion Author Washington Posts:11,857 Points:1,370,625 Joined:Aug 2004	Message Posted: 7/9/2008 9:54:29 AM	Ignore CrazyQ Report Abuse
	Drill, drill, drill.
kkelkop Rookie Author Scranton Posts:91 Points:24,820 Joined:May 2008	Message Posted: 7/9/2008 9:51:52 AM	Ignore kkelkop Report Abuse
	It's not gonna last!
tobasco Champion Author Los Angeles Posts:2,731 Points:758,390 Joined:Mar 2004	Message Posted: 7/9/2008 9:51:04 AM	Ignore tobasco Report Abuse
	Now it is back up!
AC-302 Champion Author Los Angeles Posts:7,317 Points:1,226,355 Joined:Aug 2004	Message Posted: 7/9/2008 9:48:36 AM	Ignore AC-302 Report Abuse
	$140/bbl = $3.33/gallon JUST FOR THE OIL! Think about it. The raw material to make gasoline is 3/4 the price. Everyone's profit put together (including government taxes) is just a little over a buck!
scrounger Champion Author Vancouver Posts:5,840 Points:1,597,890 Joined:Mar 2003	Message Posted: 7/9/2008 9:48:00 AM	Ignore scrounger Report Abuse
	it will rebound
my3sons Champion Author New York Posts:1,169 Points:779,225 Joined:Aug 2005	Message Posted: 7/9/2008 9:47:27 AM	Ignore my3sons Report Abuse
	yipee maybe pump prices will follow
GWayne Veteran Author Florida Posts:435 Points:108,520 Joined:Mar 2008	Message Posted: 7/9/2008 9:45:05 AM	Ignore GWayne Report Abuse
	Let it keep falling.
Schwartzmdja Veteran Author Oklahoma City Posts:303 Points:106,685 Joined:Mar 2008	Message Posted: 7/9/2008 9:44:42 AM	Ignore Schwartzmdja Report Abuse
	: #
ladyjj All-Star Author Tennessee Posts:699 Points:69,910 Joined:Apr 2008	Message Posted: 7/9/2008 9:44:14 AM	Ignore ladyjj Report Abuse
	I saw gas prices jump up yesterday 4cents in some places. I wonder why but I guess that is just one those things it lowers on the stock market and jumps even higher at the pump!
rod1965 Veteran Author Portland Posts:373 Points:46,290 Joined:Jul 2007	Message Posted: 7/9/2008 9:43:20 AM	Ignore rod1965 Report Abuse
	When I see it at the pump I will care.