Oil Slick Stuff

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May 3, 2012, 11:52 a.m. EDT
Crude oil slides 2%, extending losses

Natural gas adds to gains after inventories data, up 5.1%

By Claudia Assis and Virginia Harrison, MarketWatch
SAN FRANCISCO (MarketWatch) — Crude-oil futures fell Thursday, joining a broader drop across commodity markets, with natural-gas futures bucking the trend and adding to gains after a weekly inventories report.
Crude for June delivery lost $2.18, or 2.1%, to $103.04 a barrel on the New York Mercantile Exchange. A close in the red would be oil’s second in a row.
Better-than-expected weekly jobless numbers in the U.S. helped oil pare losses earlier, “but there is still a good amount of tentativeness ahead of tomorrow given yesterday’s poor ADP report,” wrote Matt Smith, an analyst with Summit Energy, in a note to clients. Crude oil slides 2%, extending losses - Futures Movers - MarketWatch
 
I wish all these speculators would stop driving the cost of oil down, I mean they're causing the market to lose money and strengthen the dollar. Man, I wish they'd get on TV and yell at all of these guys speculating the demand for oil will be dropping.....DAMN SPECULATORS!
 
Frixxxx said:
I wish all these speculators would stop driving the cost of oil down, I mean they're causing the market to lose money and strengthen the dollar. Man, I wish they'd get on TV and yell at all of these guys speculating the demand for oil will be dropping.....DAMN SPECULATORS!
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Survey shows gas prices trending downward in US
:D
Published May 06, 2012
Associated Press

CAMARILLO, Calif. – The average U.S. price of a gallon of gasoline has dropped seven cents over the past two weeks, but prices in Chicago still lead the nation according to one national survey.
The Lundberg Survey of fuel prices, released today, puts the price of a gallon of regular at $3.85. [more]



Read more: Survey shows gas prices trending downward in US | Fox News
 
YES!
Can the U.S. Be Energy Independent?
by Karen Boman
Rigzone Staff

Monday, May 07, 2012

As the United States finds itself with abundant natural gas supply and growing domestic oil production, the phrase 'energy independence' has become the new buzzword of politicians and oil and gas industry officials.
According to a recent Raymond James report, the United States could achieve energy independence by the end of the decade, Dow Jones reported in early April.
But can the United States truly become energy independent?
RIGZONE - Can the U.S. Be Energy Independent?



 
James48843 said:
So I don't suppose the recent fall of oil prices had anything at all to do with pressure on speculators and increasing the percentage of speculation reserve? Nothing at all to do with the crackdown on oil speculators....

Why Obama's Crackdown on Oil Speculators Won't Work - Businessweek
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So when the prices go up, it's the speculators' fault; but when the prices go down, it's because President Obama is a great President?

I am confused... the speculator's make money going both ways and they react to the economic and political situation around the world, so remind me why you think it isn't President Obama's fault when prices go up?

Thanks
 
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