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Crude Oil Rises a Second Day on Lower U.S. Crude Supplies, D

Bloomberg -- Oil advanced for a second day after an industry report showed U.S. crude inventories declined and the dollar weakened against the euro, boosting the appeal of commodities as an alternative investment.

Futures also rose as stocks climbed after improved demand for bonds from Portugal to Poland eased concern that Europe’s sovereign-debt crisis will derail the global economic recovery. U.S. crude stockpiles fell 7.31 million barrels last week, the American Petroleum Institute said. An Energy Department report today may show supplies increased.

“There continues to be this continued sense of relief that the economy doesn’t appear to be heading back into recession,” David Taylor, a market analyst at CMC Markets Ltd. in Sydney, said in an e-mailed note.

The October contract gained as much as 60

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Submitted Sep 09, 2010 By: OnTheWater

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honda0105 Champion Author Tallahassee Posts:15,279 Points:1,144,250 Joined:Nov 2008	Message Posted: Sep 11, 2010 11:32:50 AM Ignore honda0105 Report Abuse CobraLeader: yea, but hardly anyone remembers that they are there.
honda0105 Champion Author Tallahassee Posts:15,279 Points:1,144,250 Joined:Nov 2008	Message Posted: Sep 11, 2010 11:31:53 AM Ignore honda0105 Report Abuse bigred: too bad that too many people don't think that way. They rather want to believe that there is eternal and infinite oil out there.
bigreddwg Champion Author Tampa Posts:4,967 Points:1,042,630 Joined:Nov 2005	Message Posted: Sep 9, 2010 9:58:02 PM Ignore bigreddwg Report Abuse Yeah, i could tell it at the pumps today - last week i filled up at $2.48 a gal and now, it was back up to $2.57 pg - a $.09 cent increase!!! This is the whole reason we need to get OFF OIL and ON TO ALTERNATIVE FUELS, ASAP - so we don't have to worry about these fluctuations!!!
jcurley Champion Author California Posts:5,650 Points:1,324,595 Joined:Dec 2007	Message Posted: Sep 9, 2010 7:34:19 PM Ignore jcurley Report Abuse Boy, that drop in the future price of oil didn't last long, did it? Sounds more like the big boys were screwing around with the price of oil, to chase out the little guy.
Scotty99QC Veteran Author Montreal Posts:275 Points:74,950 Joined:Jul 2010	Message Posted: Sep 9, 2010 7:34:01 PM Ignore Scotty99QC Report Abuse Again who is right!
Maintroll Champion Author Lexington Posts:6,291 Points:1,238,635 Joined:Aug 2008	Message Posted: Sep 9, 2010 7:33:18 PM Ignore Maintroll Report Abuse Up and down like a yo yo goes the prices.
uptherefiners Champion Author Chicago Posts:3,323 Points:684,145 Joined:Jun 2006	Message Posted: Sep 9, 2010 7:29:56 PM Ignore uptherefiners Report Abuse time to fill the garage with gas cans
paulg72 Champion Author Boston Posts:1,558 Points:544,975 Joined:Apr 2010	Message Posted: Sep 9, 2010 7:24:50 PM Ignore paulg72 Report Abuse Well so far here in boston the prices have been stable filled up 2.47 today
rxman1 Champion Author Toledo Posts:7,012 Points:1,399,220 Joined:Nov 2007	Message Posted: Sep 9, 2010 7:22:09 PM Ignore rxman1 Report Abuse Watch out when our economy improves the gas prices will really go up unless world demand is down.
Tamba10 Sophomore Author Twin Cities Posts:112 Points:13,715 Joined:Aug 2010	Message Posted: Sep 9, 2010 7:21:33 PM Ignore Tamba10 Report Abuse whmmmm thats not good for the us.
CobraLeader Champion Author New Jersey Posts:267,902 Points:1,200,750 Joined:Apr 2007	Message Posted: Sep 9, 2010 7:19:01 PM Ignore CobraLeader Report Abuse ... Remember, they did the same baloney in all previous ALLEGED gas shortages! ... ... There are full loaded crude tankers at anchor just outside our oil processing ports! ... [Edited by: CobraLeader at 9/10/2010 12:19:54 AM EST]
Fitwit Champion Author Stockton Posts:4,370 Points:944,250 Joined:May 2009	Message Posted: Sep 9, 2010 7:18:24 PM Ignore Fitwit Report Abuse Rude, crude and unmannerly
goldilox88 Champion Author Montreal Posts:4,059 Points:1,000,000 Joined:Jun 2008	Message Posted: Sep 9, 2010 7:18:22 PM Ignore goldilox88 Report Abuse I thought I just read an article saying it was dropping.
REKEY Champion Author South Carolina Posts:6,216 Points:1,235,530 Joined:May 2008	Message Posted: Sep 9, 2010 7:18:06 PM Ignore REKEY Report Abuse Supplies and demand are all screwed up.
TBONE3 Champion Author Pennsylvania Posts:6,398 Points:1,512,695 Joined:Mar 2005	Message Posted: Sep 9, 2010 7:16:56 PM Ignore TBONE3 Report Abuse No one knows what happens next. They just wake up on morning and decide it is a good day to shaft the consumer - AND DO IT!!!
GasholeMI Champion Author Lansing Posts:7,783 Points:1,253,340 Joined:Jul 2008	Message Posted: Sep 9, 2010 7:16:24 PM Ignore GasholeMI Report Abuse I thought we were still in a recession.
HEBster Champion Author Kentucky Posts:6,474 Points:1,917,315 Joined:May 2006	Message Posted: Sep 9, 2010 7:16:00 PM Ignore HEBster Report Abuse Maintainin' N KY...
toadNY Champion Author Albany Posts:4,568 Points:1,048,500 Joined:Apr 2008	Message Posted: Sep 9, 2010 7:15:52 PM Ignore toadNY Report Abuse Yes oil inventories are down from last week 1.9 million barrels, but still 22.4 million or 6.6% more than last year.
altonb1 Champion Author Pennsylvania Posts:6,905 Points:1,056,595 Joined:Jul 2005	Message Posted: Sep 9, 2010 7:14:54 PM Ignore altonb1 Report Abuse Supplies are way up, yet prices are not dropping accordingly. Speculators are artificially keeping the price inflated.
Blue_Cruzer Champion Author Lexington Posts:5,162 Points:1,204,675 Joined:Mar 2007	Message Posted: Sep 9, 2010 7:14:52 PM Ignore Blue_Cruzer Report Abuse It makes sense to me, all these predictions by the so called experts.
joel27nc Champion Author Raleigh Posts:8,167 Points:1,394,395 Joined:Mar 2008	Message Posted: Sep 9, 2010 7:14:18 PM Ignore joel27nc Report Abuse Any excuse to raise the price of gas.
BazooQC Champion Author Montreal Posts:7,342 Points:1,174,430 Joined:Oct 2008	Message Posted: Sep 9, 2010 7:13:56 PM Ignore BazooQC Report Abuse Up, down, up down. We are use to it. Crash now ...
tucker355 Champion Author Manitoba Posts:1,153 Points:314,535 Joined:Feb 2009	Message Posted: Sep 9, 2010 7:12:56 PM Ignore tucker355 Report Abuse price manipulation
Toppers Champion Author Atlanta Posts:6,678 Points:2,008,200 Joined:Mar 2005	Message Posted: Sep 9, 2010 7:10:09 PM Ignore Toppers Report Abuse Back and forth all fall...
tedjm1 Champion Author New York Posts:3,550 Points:391,635 Joined:Dec 2006	Message Posted: Sep 9, 2010 7:08:01 PM Ignore tedjm1 Report Abuse We are in a recession. Where are these people getting their info from?
Huskersed All-Star Author Atlanta Posts:703 Points:337,950 Joined:Nov 2008	Message Posted: Sep 9, 2010 7:02:04 PM Ignore Huskersed Report Abuse Demand for oil should be declining, therefore lower prices.
ElvisHounddog Champion Author Columbus Posts:55,000 Points:1,000,000 Joined:Sep 2007	Message Posted: Sep 9, 2010 7:01:19 PM Ignore ElvisHounddog Report Abuse No surprise
toadNY Champion Author Albany Posts:4,568 Points:1,048,500 Joined:Apr 2008	Message Posted: Sep 9, 2010 7:00:01 PM Ignore toadNY Report Abuse News flash Crude oil rises on speculation.
bigreddwg Champion Author Tampa Posts:4,967 Points:1,042,630 Joined:Nov 2005	Message Posted: Sep 9, 2010 6:59:13 PM Ignore bigreddwg Report Abuse don't believe a thang - itz all liyzes frum da guvnmnt, LOL!!
nehemiah Champion Author Portland Posts:3,041 Points:553,290 Joined:Jul 2007	Message Posted: Sep 9, 2010 6:30:48 PM Ignore nehemiah Report Abuse meaningless
cudatim Champion Author San Antonio Posts:2,186 Points:1,081,930 Joined:Jan 2007	Message Posted: Sep 9, 2010 6:26:09 PM Ignore cudatim Report Abuse Yea, what ever.
DustyHorse Champion Author Virginia Posts:4,026 Points:980,415 Joined:Oct 2008	Message Posted: Sep 9, 2010 6:24:01 PM Ignore DustyHorse Report Abuse Got to keep those speculators all worked up.
RENEGADEGAS Champion Author Missouri Posts:12,075 Points:1,129,130 Joined:Jul 2008	Message Posted: Sep 9, 2010 6:15:48 PM Ignore RENEGADEGAS Report Abuse Sorry, not going to trust anything coming from an agency with this administration. They have lied about to much already to be even slightly trustworthy. COME ON NOVEMBER!!!
Ray_10589 Champion Author New York Posts:2,805 Points:740,565 Joined:May 2009	Message Posted: Sep 9, 2010 6:14:53 PM Ignore Ray_10589 Report Abuse Does any one really know ... up ...down ..... up .... down??
kcboy Champion Author Utah Posts:2,432 Points:1,192,280 Joined:Jun 2005	Message Posted: Sep 9, 2010 6:11:50 PM Ignore kcboy Report Abuse These news articles can't make up there mind, one say up and another say down - which is it.
hank1326 Champion Author Los Angeles Posts:6,701 Points:1,282,215 Joined:Jun 2008	Message Posted: Sep 9, 2010 6:10:02 PM Ignore hank1326 Report Abuse Dont' trust anything from DC morons.
mtnlion Champion Author Utah Posts:4,478 Points:570,995 Joined:Jul 2009	Message Posted: Sep 9, 2010 6:09:19 PM Ignore mtnlion Report Abuse notgood,
Aserdaten Champion Author Florida Posts:2,213 Points:1,610,440 Joined:Apr 2006	Message Posted: Sep 9, 2010 6:08:47 PM Ignore Aserdaten Report Abuse Here we go again -- a slight rise in crude oil prices after several days of declines, and already a couple of gas stations have raised their prices. Of course they still have fuel obtained at the lower price, but they just can't wait to start the cycle again. Naturally they don't drop prices as quickly when crude goes down in price, as we all know.
Asbury09 Champion Author Iowa Posts:4,983 Points:1,072,680 Joined:Jan 2009	Message Posted: Sep 9, 2010 6:08:24 PM Ignore Asbury09 Report Abuse the roller coaster
billy44bo Champion Author Mobile Posts:5,193 Points:1,045,685 Joined:Feb 2008	Message Posted: Sep 9, 2010 6:08:17 PM Ignore billy44bo Report Abuse the have to get the price up one wat or another
EVBuddy Champion Author Nevada Posts:14,348 Points:2,570,590 Joined:Sep 2004	Message Posted: Sep 9, 2010 6:07:57 PM Ignore EVBuddy Report Abuse Nothing makes cents.
EVBuddy Champion Author Nevada Posts:14,348 Points:2,570,590 Joined:Sep 2004	Message Posted: Sep 9, 2010 6:05:09 PM Ignore EVBuddy Report Abuse Not much news.
Lukus Champion Author Halifax Posts:6,037 Points:1,218,560 Joined:Nov 2007	Message Posted: Sep 9, 2010 6:03:50 PM Ignore Lukus Report Abuse The inventories appear to be up each week but then the prices go up as well.
TXGasPriceSpy Champion Author Fort Worth Posts:5,335 Points:1,012,300 Joined:Sep 2008	Message Posted: Sep 9, 2010 6:02:48 PM Ignore TXGasPriceSpy Report Abuse This doesn't make sense because it is not supposed to make sense. Big oil and speculators are in control - it doesn't have to make sense!!!
NavyStore Champion Author Seattle Posts:3,769 Points:1,661,435 Joined:Aug 2005	Message Posted: Sep 9, 2010 5:56:33 PM Ignore NavyStore Report Abuse Low supplies are relative to the checking accounts of the speculators...
mdskier Champion Author Maryland Posts:8,488 Points:1,500,275 Joined:Aug 2005	Message Posted: Sep 9, 2010 5:55:15 PM Ignore mdskier Report Abuse This makes no sense. Two days ago it was reported the US had record inventories of gas and crude oil.
us4usa Champion Author Missouri Posts:3,837 Points:682,375 Joined:May 2008	Message Posted: Sep 9, 2010 5:46:13 PM Ignore us4usa Report Abuse "Oil advanced for a second day after an industry report showed U.S. crude inventories declined and the dollar weakened against the euro, boosting the appeal of commodities as an alternative investment." Yes inventories declined BUT ARE STILL 6% high then last year at this time.
aldog365 Champion Author Nashville Posts:3,155 Points:1,560,685 Joined:Aug 2005	Message Posted: Sep 9, 2010 5:45:24 PM Ignore aldog365 Report Abuse Gas going up here.It's all about the dollar.I think the speculators own oil company stock.
methaneman Champion Author Minnesota Posts:1,795 Points:1,095,060 Joined:May 2002	Message Posted: Sep 9, 2010 5:43:55 PM Ignore methaneman Report Abuse Just because oil dropped just below the rim of 1 overfilled barrel now, the speculators go into a panic. Prices just jumped 20 cents a gallon here. Did not take long for that more expensive oil to get here. This is faster delivery than Jimmy John frecking fast service. It is next weeks oil here today! [Edited by: methaneman at 9/9/2010 10:45:11 PM EST]
salgood Champion Author Twin Cities Posts:2,149 Points:565,980 Joined:Jun 2008	Message Posted: Sep 9, 2010 5:43:35 PM Ignore salgood Report Abuse Up 23 cents in two weeks here, what was all that talk about prices falling after Labor Day about?