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Oil Little Changed Before Report Forecast to Show Supply Gai

Bloomberg -- Oil traded little changed before a report forecast to show that crude inventories expanded for a sixth week in the U.S., the world’s largest energy user.

Crude bounced back from earlier losses as the dollar gave up some gains against the euro, reinforcing oil’s appeal for hedging inflation. Crude declined yesterday after the American Petroleum Institute said inventories rose by 6.5 million barrels in the week ended March 5. An Energy Department report today is forecast to show supplies climbed by 2 million barrels.

“Demand in the U.S. has been very depressed,” said Eliane Tanner, an analyst at Credit Suisse Group AG in Zurich. “That’s looking like it’s starting to pick up and get to more average levels, and we expect a gradual improvement in prices. The risk is that the inventory num

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Submitted Mar 10, 2010 By: stpetebp

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Grismer Champion Author Kitchener-Waterloo Posts:6,258 Points:1,271,445 Joined:Apr 2008	Message Posted: Mar 10, 2010 6:47:47 AM Ignore Grismer Report Abuse The only silver lining is that reduced demand and high stockpiles have kept price increases lower than the speculators would have liked.
turbosaab Champion Author Cleveland Posts:14,937 Points:1,945,015 Joined:Sep 2006	Message Posted: Mar 10, 2010 6:23:56 AM Ignore turbosaab Report Abuse Crude inventories up, demand depressed....prices up???
afghaned Champion Author Hamilton Posts:8,493 Points:820,625 Joined:May 2004	Message Posted: Mar 10, 2010 6:16:48 AM Ignore afghaned Report Abuse Supply & demand have been replaced by another system for pricing oil/gas - greedy blood suckers dmand higher prices & get them despite growing inventories.
PurduePete86 Champion Author Indiana Posts:1,077 Points:891,615 Joined:Apr 2007	Message Posted: Mar 10, 2010 6:16:20 AM Ignore PurduePete86 Report Abuse No work...no daily commute..no gas usage. Obama's plan is pretty simple. Higher taxes put people out of work, then they don't use as much gas.
Hangnail309 Champion Author Manitoba Posts:3,792 Points:1,230,555 Joined:Aug 2006	Message Posted: Mar 10, 2010 6:15:43 AM Ignore Hangnail309 Report Abuse This is just more speculation ...
Fitwit Champion Author Stockton Posts:4,360 Points:942,500 Joined:May 2009	Message Posted: Mar 10, 2010 6:15:30 AM Ignore Fitwit Report Abuse okay, and?
dabayer Champion Author New Hampshire Posts:1,559 Points:392,730 Joined:Oct 2005	Message Posted: Mar 10, 2010 6:15:16 AM Ignore dabayer Report Abuse Sorry, it's mostly these investors, nay speculators, that are killing us, not the oil.
9C1 Champion Author Chicago Posts:20,397 Points:3,787,835 Joined:Jul 2001	Message Posted: Mar 10, 2010 6:14:43 AM Ignore 9C1 Report Abuse TheSnowStorm is right.
Beau2140 Champion Author New York Posts:5,931 Points:1,189,185 Joined:Oct 2008	Message Posted: Mar 10, 2010 6:12:38 AM Ignore Beau2140 Report Abuse Prices are rising.
TheSnowstorm Champion Author Montreal Posts:6,817 Points:1,473,500 Joined:June 2005	Message Posted: Mar 10, 2010 6:09:53 AM Ignore TheSnowstorm Report Abuse Retail market not following the commodities market, at least with regard to oil. Demand is low, inventories are up and the price keeps climbing at the retail level.
TomT2Lee Champion Author Cincinnati Posts:3,807 Points:1,167,120 Joined:Sep 2005	Message Posted: Mar 10, 2010 6:09:08 AM Ignore TomT2Lee Report Abuse Sad that people keep right on believing the lies.
rocket_ron Champion Author Grand Rapids Posts:3,913 Points:1,527,945 Joined:Jul 2006	Message Posted: Mar 10, 2010 6:06:28 AM Ignore rocket_ron Report Abuse So?
CSharpGuy Champion Author Colorado Springs Posts:7,116 Points:1,433,260 Joined:Jan 2008	Message Posted: Mar 10, 2010 6:04:48 AM Ignore CSharpGuy Report Abuse It should be dropping.
ironbox_sara Champion Author Albany Posts:7,240 Points:1,781,015 Joined:Mar 2006	Message Posted: Mar 10, 2010 5:58:10 AM Ignore ironbox_sara Report Abuse And the price is still going up at the pumps.
Conan1 Champion Author Kentucky Posts:1,660 Points:665,085 Joined:Apr 2008	Message Posted: Mar 10, 2010 5:57:00 AM Ignore Conan1 Report Abuse It means they go up gradually so that's an improvement for the suppliers.
abuck Champion Author Pittsburgh Posts:6,247 Points:1,076,875 Joined:Jul 2008	Message Posted: Mar 10, 2010 5:55:08 AM Ignore abuck Report Abuse they could triple and the speculators would not care
moody4u Champion Author Cincinnati Posts:3,635 Points:716,180 Joined:Oct 2008	Message Posted: Mar 10, 2010 5:54:44 AM Ignore moody4u Report Abuse Lies & Greed !
FieroGT Champion Author Twin Cities Posts:11,974 Points:2,096,640 Joined:Mar 2005	Message Posted: Mar 10, 2010 5:53:55 AM Ignore FieroGT Report Abuse Let the price of oil settle back to a reasonable value. $80/b is not it.
NJColt Champion Author New Jersey Posts:10,350 Points:2,179,360 Joined:Aug 2005	Message Posted: Mar 10, 2010 5:53:15 AM Ignore NJColt Report Abuse what exactly is a "gradual improvement in prices"?
bumpygas Champion Author Nebraska Posts:5,943 Points:1,451,260 Joined:Oct 2007	Message Posted: Mar 10, 2010 5:53:11 AM Ignore bumpygas Report Abuse Same article as a previous one just different words.
weenerdog Champion Author Detroit Posts:7,334 Points:1,437,635 Joined:Jan 2008	Message Posted: Mar 10, 2010 5:52:49 AM Ignore weenerdog Report Abuse Demand in the US has been very depressed.
tomok Champion Author Portland Posts:24,632 Points:1,877,535 Joined:Aug 2006	Message Posted: Mar 10, 2010 5:50:05 AM Ignore tomok Report Abuse “Demand in the U.S. has been very depressed,” said Eliane Tanner, an analyst at Credit Suisse Group AG in Zurich. That’s looking like it’s starting to pick up and get to more averAGe levels, and we expect a gradual improvement in prices. The risk is that the inventory numbers will not be so positive today.” Big oil and the refiners have created false shortAGes by producing less fuel and raising the price at the pump. That’s what we have to look forward too.
curlypooh Champion Author New Jersey Posts:8,327 Points:1,541,715 Joined:Apr 2007	Message Posted: Mar 10, 2010 5:49:56 AM Ignore curlypooh Report Abuse Wait and see.
ftsgt Champion Author Illinois Posts:10,720 Points:2,060,760 Joined:Dec 2004	Message Posted: Mar 10, 2010 5:49:44 AM Ignore ftsgt Report Abuse people cant afford it
ERO Champion Author Milwaukee Posts:19,075 Points:3,214,985 Joined:Feb 2003	Message Posted: Mar 10, 2010 5:47:31 AM Ignore ERO Report Abuse Where is the report saying Toyota's (Prius) sales are falling due to engineering issues - that should send prices up all by itself -
gabbygusIN Champion Author Indiana Posts:4,876 Points:1,091,900 Joined:Oct 2008	Message Posted: Mar 10, 2010 5:45:33 AM Ignore gabbygusIN Report Abuse The reports mean nothing when the speculators are in control of the oil prices!
dhawk24 Champion Author Maine Posts:5,535 Points:1,148,760 Joined:Jul 2008	Message Posted: Mar 10, 2010 5:44:20 AM Ignore dhawk24 Report Abuse reports mean nothing anymore. It is all about the speculators...
colt453162 All-Star Author Houston Posts:625 Points:305,895 Joined:Mar 2008	Message Posted: Mar 10, 2010 5:44:16 AM Ignore colt453162 Report Abuse What gets me is how oil inventories can drop by say around 100,000 barrels and oil will go up around $2.00 but when oil inventories increase by around 2,000,000 barrels the price stays the same, goes down about $.25 or even might go up $.25.
tankneverfull Champion Author Charlotte Posts:6,364 Points:1,299,015 Joined:Apr 2008	Message Posted: Mar 10, 2010 5:43:46 AM Ignore tankneverfull Report Abuse Best as I can figure these reports play little if any role in the actual price of oil.
speedys Champion Author Utah Posts:4,661 Points:2,091,320 Joined:Nov 2005	Message Posted: Mar 10, 2010 5:43:45 AM Ignore speedys Report Abuse You are so right "03mdx".
ThatHunt Champion Author Dallas Posts:4,487 Points:1,627,290 Joined:Jul 2006	Message Posted: Mar 10, 2010 5:43:31 AM Ignore ThatHunt Report Abuse meaningless
silverfox63 Champion Author Michigan Posts:5,799 Points:1,154,695 Joined:Oct 2008	Message Posted: Mar 10, 2010 5:43:13 AM Ignore silverfox63 Report Abuse Even if it shows there has been an increase in supplies, these prices are not coming down any time soon!
ttwiw Champion Author Austin Posts:2,166 Points:1,298,060 Joined:Sep 2005	Message Posted: Mar 10, 2010 5:43:08 AM Ignore ttwiw Report Abuse I hate analysts who refer to price increases as an "improvement in prices"
Beboper Champion Author Virginia Posts:6,357 Points:1,695,815 Joined:Oct 2005	Message Posted: Mar 10, 2010 5:41:05 AM Ignore Beboper Report Abuse slow down on the roads and use less
tc316 Champion Author Twin Cities Posts:7,735 Points:1,270,905 Joined:Apr 2007	Message Posted: Mar 10, 2010 5:40:23 AM Ignore tc316 Report Abuse These reports don't help at all
cv Champion Author Raleigh Posts:12,831 Points:2,798,605 Joined:Oct 2003	Message Posted: Mar 10, 2010 5:39:55 AM Ignore cv Report Abuse Any way to weasel more money from us consumers they will do.
RoadhogMA Champion Author Boston Posts:4,209 Points:895,045 Joined:Dec 2008	Message Posted: Mar 10, 2010 5:39:14 AM Ignore RoadhogMA Report Abuse MORE SPIN .
RichardoB Champion Author Fayetteville Posts:5,620 Points:1,535,960 Joined:Jun 2007	Message Posted: Mar 10, 2010 5:39:09 AM Ignore RichardoB Report Abuse Two useless articles today about oil prices being stable.
FPLREP Champion Author Virginia Posts:5,735 Points:1,984,150 Joined:Oct 2005	Message Posted: Mar 10, 2010 5:38:49 AM Ignore FPLREP Report Abuse Hate to tell you guys but supply and demand is still in play with oil. They have a SUPPLY and DEMAND more money for it!
AvantiMick Champion Author Indiana Posts:10,512 Points:2,095,785 Joined:Dec 2005	Message Posted: Mar 10, 2010 5:37:58 AM Ignore AvantiMick Report Abuse They are all jockeying to find ways to raise gas prices and screw the consumers......rather continue screwing the consumers!
Don1222 Champion Author Michigan Posts:7,802 Points:1,089,855 Joined:Jul 2008	Message Posted: Mar 10, 2010 5:37:27 AM Ignore Don1222 Report Abuse This is all speculation.
packards42 Champion Author Washington Posts:4,234 Points:716,195 Joined:Feb 2005	Message Posted: Mar 10, 2010 5:37:16 AM Ignore packards42 Report Abuse Demand is down at our house, except my son who compute to College twice daily. The wife and I plan our trips sharing the car as much as possible. I wondering if we can get rid of one vehicle. With that thought, it no wonder Detroit is in trouble. Permanent change in driving habits
DJRIO Champion Author Miami Posts:5,474 Points:959,285 Joined:Jan 2008	Message Posted: Mar 10, 2010 5:37:03 AM Ignore DJRIO Report Abuse dollar always helps oil all the time
pgerassi Champion Author Milwaukee Posts:8,516 Points:1,665,900 Joined:Apr 2007	Message Posted: Mar 10, 2010 5:34:37 AM Ignore pgerassi Report Abuse Inventory grew and in a S&D market, that should have pushed prices down. But those drastically lower prices are nowhere to be found. And the commodity futures police are no where to be found. If they would enforce the laws, many heads would roll into the poor house going to prison en-route.
03mdx Champion Author Syracuse Posts:3,488 Points:1,104,220 Joined:Sep 2008	Message Posted: Mar 10, 2010 5:33:34 AM Ignore 03mdx Report Abuse Increased supply should equal lower prices, but instead they are rising. Supply and demand doesn't mean a thing where oil is concerned.
rogerparry Champion Author Florida Posts:7,199 Points:1,448,980 Joined:Jan 2008	Message Posted: Mar 10, 2010 5:31:29 AM Ignore rogerparry Report Abuse Ignore the news and keep conserving.
fordfan1 Champion Author Indiana Posts:6,726 Points:1,423,040 Joined:Jul 2007	Message Posted: Mar 10, 2010 5:28:56 AM Ignore fordfan1 Report Abuse The speculators and futures buyers are hard at it again. They will not be happy until we are paying well over $3.00 a gallon again.
gasandgoAL Champion Author Alabama Posts:4,653 Points:1,121,795 Joined:Sep 2008	Message Posted: Mar 10, 2010 5:28:21 AM Ignore gasandgoAL Report Abuse expect the expected, prices going up
dar 1 Champion Author Michigan Posts:3,597 Points:335,265 Joined:Jan 2005	Message Posted: Mar 10, 2010 5:27:58 AM Ignore dar 1 Report Abuse IT WILL GO HIGHER,
Ringmaster2008 Champion Author Ontario Posts:5,333 Points:841,205 Joined:Apr 2008	Message Posted: Mar 10, 2010 5:26:14 AM Ignore Ringmaster2008 Report Abuse More speculation