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Oil Slide Could Continue as Demand Picture Weakens
Published: Wednesday, 17 Apr 2013 | 7:36 PM ET By: Patti DommCNBC Executive News Editor
Oil prices have cascaded lower in the global commodities rout and may still have further to go before finding a floor, analysts say. Government data showing weakening gasoline demand added to the selling pressure Wednesday, as did a stronger dollar, up 1 percent against a basket of currencies. West Texas Intermediate fell 2.3 percent to $86.68 a barrel, a fresh 2013 low, and Brent, the international benchmark, hit $97.80, a 2.1 percent decline.
"If we break $86, I'm looking for $82," said John Kilduff of Again Capital. "We've been unable to break that a couple of times. It's going to be a tough nut to crack again. I would expect Saudi and OPEC response if it does." Kilduff said WTI could reach $82.66 per barrel, a level reached last June
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Oil Slide Could Continue as Demand Picture Weakens
 
Bought for $3.25 a gallon yesterday in Boiled Peanut GA! See, now I think that's good when we should be thinking $2.00 a gallon!:nuts:
 
nnuut said:
Oil Slide Could Continue as Demand Picture Weakens
Published: Wednesday, 17 Apr 2013 | 7:36 PM ET By: Patti DommCNBC Executive News Editor

Oil Slide Could Continue as Demand Picture Weakens
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Why is there weakening gasoline demand? The more people are unemployed or have left the workforce the less demand there is for gasoline. It's not a good sign for the economy as a whole, though it is good for those of us who have jobs and use gasoline/diesel.
 
Viva_La_Migra said:
Why is there weakening gasoline demand? The more people are unemployed or have left the workforce the less demand there is for gasoline. It's not a good sign for the economy as a whole, though it is good for those of us who have jobs and use gasoline/diesel.
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That's some of it, but you have to keep in mind they are talking about the WHOLE WORLD. Economies around the world are stagnant, now including the BIG GUY China! We should be in the Driving Season but I don't see any evidence of it?
 
Hey Norm..where the hell exactly is Boiled Peanut, GA?..I mean at least there is a place called Lizard Lick, NC..
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nnuut said:
View attachment 23426 Georgia!
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When I was actively working for the government I thought it was necessary to hide my real identity and home base in order to minimize the possibility of putting my security clearance in harms way. So I invented Boiled Peanut GA for that purpose. Some of our members had problems with security at that time, I did not. Now I really like Boiled Peanut it kind of summarizes how I feel about GA! :D
 
Houston: Oil, Gas Boomtown oilgusher.gif

by Robin Dupre
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Rigzone Staff
|
Thursday, April 11, 2013
Houston, Texas' energy industry is flourishing, making the job market for today and tomorrow very robust, remarked Huw Rothwell, executive director of Michael Page International at the American Petroleum Institute's (API) Houston chapter luncheon Tuesday. Michael Page is a global publically traded professional and executive recruitment consultancy with more than 5,000 employees worldwide.
"The oil and gas industry in Houston is in very good condition, adding about 102,000 jobs in the last three years," he said.
RIGZONE - Houston: Oil, Gas Boomtown
 
nnuut said:
When I was actively working for the government I thought it was necessary to hide my real identity and home base in order to minimize the possibility of putting my security clearance in harms way. So I invented Boiled Peanut GA for that purpose. Some of our members had problems with security at that time, I did not. Now I really like Boiled Peanut it kind of summarizes how I feel about GA! :D
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So it's near Peachtree city, eh/:cool:
 
nnuut said:
Houston: Oil, Gas Boomtown View attachment 23441

by Robin Dupre
|
Rigzone Staff
|
Thursday, April 11, 2013
Houston, Texas' energy industry is flourishing, adding about 102,000 jobs in the last three years," he said.
RIGZONE - Houston: Oil, Gas Boomtown
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I wonder if some crazy azz woman from OK or anywhere else for that matter, will go down there and chain herself to an oil truck or something for some stupid cause like promoting ethanoil...you know what I mean..
 
Buster said:
I wonder if some crazy azz woman from OK or anywhere else for that matter, will go down there and chain herself to an oil truck or something for some stupid cause like promoting ethanoil...you know what I mean..
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PROBABLY! Squirley%20Mouse-02-june.gif
 
April 23, 2013, 9:48 a.m. EDT
Oil slips on China data, ahead of supply figures

Front-month oil futures have slumped more than 8% this month, hurt in part by concerns about lackluster oil demand in a well-supplied market. The next reports on weekly U.S. crude-oil inventories are due out Tuesday and Wednesday.
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Underscoring demand concerns on Tuesday were data from China — the world’s second-largest economy and top oil consumer — that showed manufacturing-activity growth slowed this month.
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Oil slips on China data, ahead of supply figures - Futures Movers - MarketWatch
 
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