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GasBuddy News Article

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OIL FUTURES: Crude Falls to Lowest Level Since July

Dow Jones Newswires --
Crude futures on the New York Mercantile Exchange fell by 2.2% Tuesday, closing at the lowest level since mid-July against a backdrop of weak earnings results and growing concerns about the economy.

Nymex front-month futures for December delivery settled at $86.67 per barrel, down $1.98, the lowest settling price since July 12. Brent oil futures were $1.17 lower to $108.27.

Oil prices have been mostly on a downward trend since mid-September, fueled by the perception of plentiful oil supplies and continued concerns about the health of the global economy. But Tuesday's trading shifted oil into a lower range than it has experienced in recent months, generating talk that the commodity could have further to fall.


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Submitted Oct 24, 2012 By: RENEGADEGAS
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: OIL FUTURES: Crude Falls to Lowest Level Since July Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

Posts:22,722
Points:2,186,040
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Message Posted: Oct 27, 2012 5:56:16 AM

crude may, gas (and esp. diesel) prices haven't falling in sync with the barrel drops.
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wshutton
Champion Author Albuquerque

Posts:4,141
Points:1,490,225
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Message Posted: Oct 25, 2012 2:34:16 PM

And yet the retail price of gas barely declines. The difference? Romney's Republican speculator buddies perhaps?
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sydb7
Champion Author Atlanta

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Points:2,411,275
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Message Posted: Oct 25, 2012 8:58:00 AM

Crude futures may be down, but gas prices presently are still too high!
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jrs4125
Champion Author Indiana

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Message Posted: Oct 25, 2012 7:19:16 AM

Alrighty then, for now.
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nb52
Champion Author Grand Rapids

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Message Posted: Oct 25, 2012 6:26:40 AM

But prices at the pump are still well above $3.
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wbpprint
Champion Author Chicago

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Joined:Jun 2007
Message Posted: Oct 25, 2012 12:06:49 AM

Prices are coming down because winter blend is , and with with gas, my mileage is down also, approx 16%, some deal I think it averages out to the same cost per mile. Higher summer blend, good mileage lower winter blend less mileage. The companies don't lose, its economics, you don't sell if you can profit.
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diesel8888
Champion Author Salt Lake City

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Message Posted: Oct 25, 2012 12:04:56 AM

And the price drop like a feather at the pump....
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rahcat
Champion Author Grand Rapids

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Message Posted: Oct 25, 2012 12:03:10 AM

Won't last.
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Fitwit
Champion Author Stockton

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Message Posted: Oct 25, 2012 12:01:52 AM

?
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clermont40miles
Champion Author Cincinnati

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Joined:Apr 2008
Message Posted: Oct 24, 2012 11:57:52 PM

Market prices fall but pump prices stay high.

Someone is getting rich with this legal robbery at the pump.

We are getting poorer.
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kbierley
Champion Author Dayton

Posts:10,762
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Message Posted: Oct 24, 2012 11:56:53 PM

The Oil market changes many times.
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Focus2
Champion Author Illinois

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Joined:Mar 2006
Message Posted: Oct 24, 2012 11:54:05 PM

Big Oil sets their own profit margins.
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Cableman66
Champion Author North Carolina

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Points:1,064,350
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Message Posted: Oct 24, 2012 11:53:18 PM

Keep it coming we need all the help we can get. Looking for $3.00 a gallon or less.
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mstearno
Champion Author Dayton

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Message Posted: Oct 24, 2012 11:52:40 PM

I guess speculators are all gone now?
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TFowler513
Champion Author Memphis

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Message Posted: Oct 24, 2012 11:51:42 PM

Too bad pump prices haven't fallen to the lowest since July!!!
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bonzoonfmb
Champion Author Florida

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Message Posted: Oct 24, 2012 11:47:38 PM

Gas prices are still too high.
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jalan25
Champion Author Indianapolis

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Message Posted: Oct 24, 2012 11:46:06 PM

Pump prices need to catch up with these drops.
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abcdMA
Champion Author Worcester

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Message Posted: Oct 24, 2012 11:44:35 PM

gas isn't falling fast enough
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unicornIL
All-Star Author Chicago

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Message Posted: Oct 24, 2012 11:43:23 PM

prices need to drop
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bvrbill
Champion Author Eugene

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Message Posted: Oct 24, 2012 11:38:50 PM

Hopefully we will see prices fall at the pump.
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BREW9
Champion Author Tampa

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Message Posted: Oct 24, 2012 11:35:52 PM

keep lowering
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5Golfer8
Champion Author Tucson

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Message Posted: Oct 24, 2012 11:31:47 PM

It couldn't be that Obama and the Democrats want Re-election.
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kd5kpd
Champion Author Texas

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Message Posted: Oct 24, 2012 11:29:57 PM

Needs to keep dropping!!!!!!!!
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miiike572
All-Star Author Phoenix

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Message Posted: Oct 24, 2012 11:29:28 PM

I think 1.98 would be a good price instead of that much dropping off the price of a barrel.
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oppdetcon
Champion Author Ottawa

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Message Posted: Oct 24, 2012 11:28:12 PM

OK
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30mpg80
Champion Author Lexington

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Message Posted: Oct 24, 2012 11:28:07 PM

Brent should fall under $100
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MadTraveler
Champion Author Idaho

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Message Posted: Oct 24, 2012 11:26:31 PM

Boy not getting passed through very fast.
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knot2swift
Champion Author Calgary

Posts:5,913
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Joined:Nov 2009
Message Posted: Oct 24, 2012 11:25:40 PM

A good deal if cars ran off pure unrefined crude.

All that really matters is the cost of things coming out of the end of the nozzle for us.
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tco9436
Champion Author Connecticut

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Message Posted: Oct 24, 2012 11:25:36 PM

YES!!
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us4usa
Champion Author Missouri

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Joined:May 2008
Message Posted: Oct 24, 2012 11:24:51 PM

"growing concerns about the economy."

Guess WHo said in 2009...
"If we are still talking about the economy in 2012 we will lose the WH"???

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Goofoff
Champion Author Virginia

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Message Posted: Oct 24, 2012 11:24:14 PM

I read this article
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WIPACKERFAN
Champion Author Chicago

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Message Posted: Oct 24, 2012 11:23:46 PM

Get the prices down much more.
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Crumbfel
Champion Author Virginia

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Message Posted: Oct 24, 2012 11:18:40 PM

Bring them down now
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gumbyrex
Champion Author Fresno

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Message Posted: Oct 24, 2012 11:17:57 PM

If things heat up in the Middle East, expect prices to increase. So enjoy the lower prices while you can.
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mcmonsta
Champion Author Honolulu

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Message Posted: Oct 24, 2012 11:15:25 PM

now bring those gas prices down!!!
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N4PIP
Champion Author Miami

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Message Posted: Oct 24, 2012 11:15:05 PM

Southrob - "1.84 when obama took office"

I hope your memory is working long enough to remember that America had an economic collapse in 2008. Remember employment plummeted? Remember that the real estate market dropped like a rock? Remember "W" bailing out big banks to the tune of $150 BILLION?

Enough of the crap about cheap gas during Bush's term. It was over $4 a gallon at one point. Who cares if it was $2 a gallon for a very brief time? Nobody had a job to buy gas then.
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listerone
Champion Author Boston

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Message Posted: Oct 24, 2012 11:14:25 PM

The markets know things will change next January.

1/20/13...The End Of An Error
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nru
Champion Author Twin Cities

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Message Posted: Oct 24, 2012 11:09:18 PM

yeah - as soon as Obama is out, gas will be free!! Probably not - and Mittens is as slick as they come
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jrsva
Champion Author Virginia

Posts:12,558
Points:2,189,175
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Message Posted: Oct 24, 2012 11:07:29 PM


“Get rid of Obama and maybe this trend will continue.”

That’s totally irrelevant.
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serrog
Champion Author Nova Scotia

Posts:8,051
Points:2,087,085
Joined:Oct 2008
Message Posted: Oct 24, 2012 11:07:25 PM

good at the pump but probably bad for the whole economy
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wayoung56
Champion Author Alabama

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Message Posted: Oct 24, 2012 11:05:09 PM

Good news for a change!!!
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MDTDriver
Champion Author California

Posts:11,718
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Joined:Jul 2006
Message Posted: Oct 24, 2012 11:00:59 PM

I am waiting for lowest level since July 1995.
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Mustache_33
All-Star Author Toronto

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Joined:May 2012
Message Posted: Oct 24, 2012 10:58:18 PM

hm
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EvPv
Champion Author Maine

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Joined:Feb 2011
Message Posted: Oct 24, 2012 10:57:41 PM

I wonder what the break price is for fracking oil? I heard 5 years ago it was $60 for oil sands.
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KhelbenArunson
Champion Author Michigan

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Message Posted: Oct 24, 2012 10:52:33 PM

good I want to see it at $20 a barrel
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regasaz
Champion Author Phoenix

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Joined:Dec 2006
Message Posted: Oct 24, 2012 10:48:43 PM

$60 bbl. sounds like a good round number to me.
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The_DR
Champion Author New Jersey

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Joined:Aug 2011
Message Posted: Oct 24, 2012 10:43:30 PM

yes they have
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naspa
Champion Author Cleveland

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Message Posted: Oct 24, 2012 10:39:40 PM

I cannot wait to gas up again with $1.99/gallon lol
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gerreg
Champion Author Nebraska

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Message Posted: Oct 24, 2012 10:39:36 PM

ok
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SavALot
Champion Author Virginia Beach

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Joined:Apr 2005
Message Posted: Oct 24, 2012 10:36:42 PM

On the road for recovery
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