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Regular Unleaded 10% Moonshine averaging $3.41 a gallon in Boiled Peanut GA. bananadancing2.gif
 
Oil climbs above $102 on weaker US dollar

Oil climbs above $102 in Europe as traders eye weaker US dollar, Middle East turmoil



Pablo Gorondi, Associated Press, On Tuesday May 31, 2011, 7:30 am EDT

Oil prices climbed above $102 a barrel Tuesday as talk of more financial aid for Greece helped weaken the U.S. dollar and traders worried about turmoil in Libya and the Middle East.
By early afternoon in Europe, benchmark oil for July delivery was up $1.81 to $102.40 a barrel in electronic trading on the New York Mercantile Exchange. http://finance.yahoo.com/news/Oil-r...27.html?x=0&sec=topStories&pos=5&asset=&ccode=
 
May 31, 2011, 10:21 a.m. EDT
Oil nears $103 a barrel as dollar slips

Pressure mounts in Libya

By Claudia Assis and Sarah Turner, MarketWatch
SAN FRANCISCO (MarketWatch) — Oil futures rose Tuesday as fresh hope that Europe is moving closer to a solution to its sovereign-debt woes helped prop up the euro against the dollar.
Crude oil for July delivery /quotes/comstock/21n!f:cl\n11 CLN11 +2.11% gained $2.31, or 2.3%, to $102.94 a barrel on the New York Mercantile Exchange. http://www.marketwatch.com/story/oil-advances-as-dollar-slips-2011-05-31
 
05/31/2011 - Updated 12:36 PM ET
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Oil nears $103 a barrel as dollar slipsPressure mounts in Libya, Yemen
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By Claudia Assis, MarketWatch & Sarah Turner, MarketWatch

SAN FRANCISCO (MarketWatch) — Oil futures rose Tuesday as fresh hope that Europe is moving closer to a solution to its sovereign-debt woes helped prop up the euro against the dollar.
Crude oil for July delivery gained $1.96, or 2%, to $102.57 a barrel on the New York Mercantile Exchange. It traded as high as $103.39 in electronic trading.
“It’s higher mainly in response to a weaker dollar,” said Jim Ritterbusch of Ritterbusch and Associates in Illinois.
Oil lost some steam as a closely followed housing index showed U.S. home prices falling in March, confirming a double-dip recession for the housing market.
“It‘s just a volatile trading environment right now,” ahead of important macroeconomic data this week, including unemployment figures, and the Organization of the Petroleum Exporting Countries meeting early next week, he said.
OPEC will have to “walk a tightrope” this meeting more so than other years, he said. “I think we’ll get a token production out of it,” Ritterbusch said.
OPEC cannot increase production too much or it would risk a price collapse, but it can’t decrease production too much without risking pushing prices too high, he said. http://markets.usatoday.com/custom/...-11E0-8EEF-002128049AD6}&loc=interstitialskip
 
The_Technician said:
Well Well Well....they finally found the wall......I would suppose that the oil has determined they have squeezed all they can from that turnip!!!

Now if thats not inflationary I don't know what is....when price of oil/gas drops it promotes economic activitiy.......what else can happen...oh, maybe its a head fake.....
Click to expand...
Here's how it is and it's so wrong.
Dollar Gains, Oil Drops, the Markets go DOWN!!:sick:​
 
Let's just say I'm for a strong dollar, cheap Oil and a strong Market. Oh, CONTRA!
Strong Dollar, we buy on the cheap!
Cheap Oil, stimulates the Economy, drives the price of commodities DOWN!
Market goes up and so does my investments!
 
Savor Cheap Gas Prices While You Can





Contributor to TheStreet , On Tuesday May 31, 2011, 7:10 am EDT

NEW YORK (TheStreet) -- Memorial Day has come and gone, signaling the start of the summer -- and the summer driving season. After the wild gyrations of the crude oil market this spring, what should we expect for gas prices? The outlook actually looks pretty good for the next several months.
Summer brings thoughts of vacations with the family in the car, and that means that gas prices are a big part of those plans. There's been a big run-up in gas prices over the past year, from an average price of $2.76 last Memorial day to $3.81 yesterday.
Gas prices are dependent upon crude oil prices, the stuff that is refined to make gasoline, and crude was affected by a variety of forces in the past 12 months but particularly by the supply threats of Mideast revolutions in Egypt and Tunisia and ongoing strife in Bahrain, Yemen and Syria. Gas itself staged a price resurgence, and margins for refining gasoline have seen their best year since 2006, also driving up the price. http://finance.yahoo.com/news/Savor...82.html?x=0&sec=topStories&pos=2&asset=&ccode=
 
nnuut said:
Let's just say I'm for a strong dollar, cheap Oil and a strong Market. Oh, CONTRA!
Strong Dollar, we buy on the cheap!
Cheap Oil, stimulates the Economy, drives the price of commodities DOWN!
Market goes up and so does my investments!
Click to expand...

Absolutely !!! :D :D
 
May 29, 2011, 6:01 p.m. EDT
Arab oil faces higher ‘break-even’ price

Surge in domestic spending strains a fragile energy market


HONG KONG (MarketWatch) — A sharp rise in domestic government spending by Saudi Arabia and other key Arab oil exporters threatens to upset the mutually beneficial relationship they’ve kept for decades with energy consumers worldwide.

“A major implication of this higher break-even price of oil is that it is unlikely that we will see oil prices below $70 to $80 [a barrel] in coming years. The period of low oil prices that we had, particularly in the 1990s, is gone,” said Garbis Iradian, a deputy director in the Africa and Middle East Department at the Institute of International Finance, in a telephone interview from Washington.
$100 a barrel
Click to expand...
http://www.marketwatch.com/story/ar...reak-even-price-2011-05-29?link=mw_home_kiosk
 
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