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OIL FUTURES: Crude Lower Despite Reports Of Saudi Protests

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posted on Mar, 10 2011 @ 02:53 PM
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OIL FUTURES: Crude Lower Despite Reports Of Saudi Protests


online.wsj.com

NEW YORK (Dow Jones)--Crude futures settled lower Thursday, despite a late-afternoon surge on reports of protests in Saudi Arabia, the world's largest oil exporter.

After trading down more than 3.5% earlier in the session on weak economic data, light, sweet crude for April delivery pared losses as news trickled out of Saudi Arabia, settling $1.68, or 1.6%, lower at $102.70 a barrel on the New York Mercantile Exchange.

Brent crude on the ICE futures exchange settled down 51 cents to $115.43 a barrel after trading as low as $113.52.

(visit the link for the full news article)




posted on Mar, 10 2011 @ 02:53 PM
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well here is my very first thread... be gentle k...

I picked this story to post as like most of you I'm fed up with high gas prices so it's nice to see the price of oil going down...

but that brings us to the next question...

if the price of oil is going down why hasn't the price of gasoline???

online.wsj.com
(visit the link for the full news article)
edit on 10-3-2011 by WhiteRabit because: (no reason given)



posted on Mar, 10 2011 @ 02:58 PM
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Lets hope it keeps falling.I don't expect it to, but lets hope anyway.



posted on Mar, 10 2011 @ 02:59 PM
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reply to post by WhiteRabit
 


because they're not very nice people...fear = money..unfortunately



posted on Mar, 10 2011 @ 03:10 PM
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Just looked, oil down 2.11 points or 2%.
DOW down a whopping -228 points, or 1.87%


Hope the oil keeps dropping!



posted on Mar, 10 2011 @ 03:24 PM
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I don't bother checking anymore, it's pointless, up and down and vice verse. I'll just keep driving until I can no longer afford too and then I'll either walk, buy a horse or ride a bike.



posted on Mar, 10 2011 @ 03:42 PM
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Gasoline just went up here by 17 cents today to 3.65.

Go FIGURE.



posted on Mar, 10 2011 @ 03:44 PM
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The economy is getting ready to tank again.

I can feel it. My work is dead slow the last month when we are usually very busy. We rely on medical and consumer products. (I print labels for them).

And it's dead....just as it was right before the stock market crashed in 2008. Gas prices are high again...man it's NOT looking good right now.
edit on 10-3-2011 by David9176 because: (no reason given)



posted on Mar, 10 2011 @ 04:00 PM
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reply to post by David9176
 


Gas jumped here too. I stopped on the way home and paid 3.49, just as they were changing the sign from 3.55 to 3.59. I went in and asked what was up, and the clerk said that they had just changed the numbers when they were told to bump it again. They changed the computer straight from 3.49 to 3.59. The person behind me paid 10 cents more a gallon than I did.



posted on Mar, 10 2011 @ 04:07 PM
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reply to post by sweetpeanc
 


I bet the person behind you wasn't very happy about that!

Your'e right...it just went up. Omw home today from work it still hadn't gone up yet. My wife called me and said they just jacked it up. She gets home a bit later than i do.



posted on Mar, 10 2011 @ 04:13 PM
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Oil and other commodities are very speculated. Large fluctuations in oil, gold, silver and other commodities have little to do with the economic reality of everyday use. Large financial institutions make large moves into these markets to manipulate a profit. This is why gas still goes up, and a silver coin at a store will cost about the same even when the paper price swings three to five dollars.



posted on Mar, 10 2011 @ 04:13 PM
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reply to post by WhiteRabit
 


the way i understand it they play a month out, the gas that out there now was made and bought at the higher price.
these stocks have to be used first, that is what they always say. and then when they take delivery of the lower cost oil and produce it then the price goes down , but if you notice it never goes back to what it was before the speculators drove the price up.



posted on Mar, 10 2011 @ 04:16 PM
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AS I previously posted in another thread:



To save ourselves from economic and financial disaster, a dramatic change in the conventional wisdom of economic policy by our leaders is essential. The numbers are growing, the people are becoming aware of the atrocity we face from the Federal Reserve. With a better understanding of the monetary policy, the better off we will be when the time comes to establish a new more tangibly backed currency. Then, prosperity will be gained.



posted on Mar, 10 2011 @ 05:22 PM
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over in aus in my home town where paying $1.50 per liter for plan old unleaded only time i would pay a $1.50 was for premium fuel and they say where running out of oil bull !!!! all i can say is to Australia government is to wake up to ur selfs or we Aussie's will rise for a nwo



posted on Mar, 10 2011 @ 06:07 PM
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Commodity exchanges are raising margin requirements on futures accounts. Traders holding contract positions must maintain a percentage of their holdings' in their accounts. When the exchange raises those cash requirements, traders who are unable to raise the extra cash must sell their positions. This is how TPTB temporarily prevent a melt-up and why gas prices can still rise even though oil prices have pulled back because of margin calls.
edit on 10-3-2011 by mrbarber because: (no reason given)




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