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U.S. crude oil falls over $1 on ample supplies

Reuters -- U.S. light crude oil futures fell more than $1 per barrel on Tuesday as domestic supplies and U.S. oil inventories rose and the country's oil demand showed little sign of improving despite a recovery in its economic growth.

At the same time the premium for international oil benchmark Brent over U.S. crude futures widened to more than $20 per barrel CL-LCO1=R as investors worried about supplies in the spot market outside the United States.

By 1230 GMT, U.S. crude oil futures for March were trading around $95.91 per barrel, down $1, having hit an intraday low of $95.84.

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Submitted Feb 07, 2012 By: brbaritone

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jwalkerh Champion Author Louisiana Posts:4,800 Points:1,096,705 Joined:Oct 2008	Message Posted: Feb 7, 2012 8:06:40 PM Ignore jwalkerh Report Abuse And the price of gas is increasing...
chuckwthompson Champion Author Charlotte Posts:1,870 Points:213,535 Joined:Sep 2011	Message Posted: Feb 7, 2012 7:55:02 PM Ignore chuckwthompson Report Abuse And this is going to make a difference....Not
alterman156 Champion Author New York Posts:5,605 Points:1,192,900 Joined:Dec 2008	Message Posted: Feb 7, 2012 2:47:36 PM Ignore alterman156 Report Abuse Oil prices should fall more.
ObieDog All-Star Author Maryland Posts:971 Points:525,120 Joined:Sep 2010	Message Posted: Feb 7, 2012 10:39:21 AM Ignore ObieDog Report Abuse Up, down, all around!!
ziyulu Champion Author Oklahoma City Posts:6,644 Points:1,262,640 Joined:Aug 2007	Message Posted: Feb 7, 2012 10:22:45 AM Ignore ziyulu Report Abuse Not anymore... Energy & Oil Prices OIL ($/bbl) PRICE* CHANGE % CHANGE TIME Nymex Crude Future 98.71 1.80 1.86% 16:08 Dated Brent Spot 117.81 1.70 1.47% 16:17 WTI Cushing Spot 98.41 1.50 1.55% 15:52 OIL (¢/gal) PRICE* CHANGE % CHANGE TIME Nymex Heating Oil Future 318.75 1.68 0.53% 16:09 Nymex RBOB Gasoline Future 293.27 0.48 0.16% 16:09 NATURAL GAS ($/MMBtu) PRICE* CHANGE % CHANGE TIME Nymex Henry Hub Future 2.49 -0.06 -2.27% 16:08 Henry Hub Spot 2.48 0.07 2.90% 02/06 New York City Gate Spot 2.75 0.10 3.77% 02/06 ELECTRICITY ($/megawatt hour) PRICE* CHANGE % CHANGE TIME Mid-Columbia, firm on-peak, spot 25.39 1.05 4.31% 13:31 Palo Verde, firm on-peak, spot 26.34 -0.04 -0.15% 02/06 BLOOMBERG, FIRM ON-PEAK, DAY AHEAD SPOT/ERCOT HOUSTON 25.50 1.92 8.14% 13:31 Bloomberg Oil Buyers Guide subscriber? Log in *Commodity futures and energy prices are in U.S. dollars.
UseLessGasFolks Champion Author Iowa Posts:3,626 Points:939,610 Joined:Jul 2007	Message Posted: Feb 7, 2012 7:49:22 AM Ignore UseLessGasFolks Report Abuse Best way to stick it to them is to CONSERVE BABY CONSERVE!!!!!
JamesCalvin Champion Author Lancaster Posts:1,241 Points:158,925 Joined:Nov 2011	Message Posted: Feb 7, 2012 6:53:26 AM Ignore JamesCalvin Report Abuse But pump prices rise?!!!?Hmmm...!
TripleHs Champion Author Austin Posts:1,822 Points:594,455 Joined:Oct 2009	Message Posted: Feb 7, 2012 6:15:34 AM Ignore TripleHs Report Abuse still way too high
tnfran Champion Author Arizona Posts:2,546 Points:492,740 Joined:Dec 2010	Message Posted: Feb 7, 2012 5:36:53 AM Ignore tnfran Report Abuse Ho Hum - big whoop ! Big Oil wants their HUGH PROFITS no matter what; or who gets hurt in their GREED!!! [Edited by: tnfran at 2/7/2012 11:37:36 AM EST]
uglytom Champion Author Florida Posts:6,190 Points:1,289,790 Joined:Jul 2007	Message Posted: Feb 7, 2012 5:25:15 AM Ignore uglytom Report Abuse Watch gas prices plummet on this fact....rather than rise on rumor....ha,ha!
peakkeller All-Star Author Colorado Springs Posts:958 Points:526,260 Joined:Dec 2009	Message Posted: Feb 7, 2012 5:21:41 AM Ignore peakkeller Report Abuse Little bumps like this mean nothing for gas prices.
doeslayersr Champion Author Illinois Posts:5,804 Points:508,150 Joined:Dec 2010	Message Posted: Feb 7, 2012 5:06:55 AM Ignore doeslayersr Report Abuse Really, at the time of my article reply, WTI crude is UP over $1.45, not down!!!!
jrs4125 All-Star Author Indiana Posts:906 Points:227,645 Joined:Sep 2011	Message Posted: Feb 7, 2012 4:52:26 AM Ignore jrs4125 Report Abuse Is there anyone that thinks the price will remain where it is over a period of the next few years? Drill baby drill will only get us closer to the bottom of the oil drum. It won't matter who the president is. [Edited by: jrs4125 at 2/7/2012 10:53:12 AM EST]
Houmagas Veteran Author Louisiana Posts:388 Points:100,885 Joined:Jun 2011	Message Posted: Feb 7, 2012 4:45:09 AM Ignore Houmagas Report Abuse Speculation is driving the cost of gas.
doctorindyj Champion Author Santa Fe Posts:2,249 Points:507,380 Joined:Nov 2009	Message Posted: Feb 7, 2012 4:30:51 AM Ignore doctorindyj Report Abuse But gas keeps going the other way.
WalkingWV Champion Author West Virginia Posts:2,374 Points:509,795 Joined:May 2008	Message Posted: Feb 7, 2012 4:27:43 AM Ignore WalkingWV Report Abuse And gas ju8mped 20 to 30 cents.
OHMS Champion Author Orange County Posts:11,266 Points:1,335,275 Joined:May 2005	Message Posted: Feb 7, 2012 4:26:18 AM Ignore OHMS Report Abuse a good trend>>.By 1230 GMT, U.S. crude oil futures for March were trading around $95.91 per barrel, down $1, having hit an intraday low of $95.84
Buckeyee Champion Author Maine Posts:2,412 Points:554,855 Joined:May 2010	Message Posted: Feb 7, 2012 4:18:43 AM Ignore Buckeyee Report Abuse If Obama does not like the report, he will just ignore it like he has done with other reports.
Night Owl Champion Author Toronto Posts:5,770 Points:1,432,625 Joined:Jul 2004	Message Posted: Feb 7, 2012 4:15:20 AM Ignore Night Owl Report Abuse Oil prices are still far too high. Greedy oil speculators need to be kicked out of the oil market. Supply and demand should be controlling oil prices not oil futures. When is President Obama's April 21st task force on high oil and gas prices finally going to report back? [Edited by: Night Owl at 2/7/2012 10:15:58 AM EST]
TableTalk All-Star Author Virginia Posts:636 Points:369,400 Joined:Nov 2008	Message Posted: Feb 7, 2012 4:13:40 AM Ignore TableTalk Report Abuse Supply and demand with a little speculation and political uncertainty thrown in just to make it interesting and a reason to write another wishy-washy article.
investmentdr Champion Author Cleveland Posts:2,345 Points:1,099,935 Joined:Sep 2008	Message Posted: Feb 7, 2012 3:52:34 AM Ignore investmentdr Report Abuse gasoline spot off -0.5% today
investmentdr Champion Author Cleveland Posts:2,345 Points:1,099,935 Joined:Sep 2008	Message Posted: Feb 7, 2012 3:51:46 AM Ignore investmentdr Report Abuse fallin fallin fallin
dorisntx Champion Author Fort Worth Posts:1,252 Points:333,700 Joined:Apr 2011	Message Posted: Feb 7, 2012 3:12:16 AM Ignore dorisntx Report Abuse ok
bigmoo63 All-Star Author Kalamazoo Posts:881 Points:56,300 Joined:Nov 2009	Message Posted: Feb 7, 2012 3:08:44 AM Ignore bigmoo63 Report Abuse Another slant from Reuters. Dont have much faith in any of these reports. No consistency. Almost like they throw a dart and where it sticks...thats the story. FACTS, give us FACTS. Something with substance to back it up.
drpepperTX Champion Author Texas Posts:4,905 Points:391,320 Joined:Apr 2011	Message Posted: Feb 7, 2012 3:07:09 AM Ignore drpepperTX Report Abuse WTI does not matter. Brent still rising and gasoline futures follow Brent.
FPLREP Champion Author Virginia Posts:6,359 Points:2,087,540 Joined:Oct 2005	Message Posted: Feb 7, 2012 3:05:26 AM Ignore FPLREP Report Abuse It would be nice(dream) to see US gas falls to $1 per gallon!
remay Champion Author Houston Posts:5,207 Points:1,757,170 Joined:May 2006	Message Posted: Feb 7, 2012 2:43:13 AM Ignore remay Report Abuse ENOUGH of the snapshot articles on the price of oil! Brent Rises Above $116 on Iran and Cold Snap Submitted 34 minutes ago By: WxVette Crude Oil Trades Near Six-Week Low on Forecast of Rising U.S. Stockpiles Submitted 35 minutes ago By: WxVette Oil Trades Lower, Struggles To Keep Above $97 Submitted Today By: RENEGADEGAS
johntxx All-Star Author Texas Posts:679 Points:253,120 Joined:Aug 2011	Message Posted: Feb 7, 2012 2:40:43 AM Ignore johntxx Report Abuse As usual, gas prices at the pump are quick to climb, but slow to come down. I wish I would stop getting "pumped" at the pump.
lcleveland Champion Author San Antonio Posts:1,450 Points:331,100 Joined:May 2011	Message Posted: Feb 7, 2012 2:37:17 AM Ignore lcleveland Report Abuse waiting for gas to start down
Rockyguitar All-Star Author Tampa Posts:836 Points:870,670 Joined:Sep 2008	Message Posted: Feb 7, 2012 2:36:26 AM Ignore Rockyguitar Report Abuse Prices at the pump should then go UP! They do that when oil prices go up or down.
brbaritone Champion Author Virginia Posts:1,241 Points:1,363,550 Joined:Jan 2007	Message Posted: Feb 7, 2012 2:32:18 AM Ignore brbaritone Report Abuse Hey, maybe gas stations should do what other retailers do when they need to move inventory and improve cash flow ... have a SALE! "25% to 40% off!"
grandpadon28110 Champion Author Charlotte Posts:2,888 Points:781,135 Joined:Sep 2008	Message Posted: Feb 7, 2012 2:31:43 AM Ignore grandpadon28110 Report Abuse What is the hype over 1% decline.
kress999 Sophomore Author Alabama Posts:214 Points:247,470 Joined:May 2011	Message Posted: Feb 7, 2012 2:31:16 AM Ignore kress999 Report Abuse No kidding people are driving less today