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GasBuddy News Article

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Oil Struggles For Clear Direction From $81.50

Reuters -- Oil failed to find momentum in either direction for a clear move away from $81.50 on Wednesday as investors waited for data on U.S. stocks or OPEC's monthly report ahead of next week's meeting to provide impetus.

U.S. crude for April delivery was flat at $81.49 by 1028 GMT (5:28 a.m. ET). It had earlier risen to within 80 cents of Monday's peak of $82.41, the highest level since prices jumped to a 15-month high of $83.95 on January 11. London ICE Brent for April edged up 7 cents to $79.98.

"There's a little bit of reticence about striking out one way or the other ... there's not enough information to herald decisively a bull run," said Paul Harris, head of energy and emissions at Bank of Ireland.



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Submitted Mar 10, 2010 By: stpetebp
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Struggles For Clear Direction From $81.50 Post a Reply Back to Topics
REPLIES (newest first)
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WCCurtis
Champion Author San Bernardino

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Message Posted: Mar 10, 2010 2:15:17 PM

Today, a barrel of Crude Oil closed up $.60 to $82.09.
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FuelBarge
Champion Author Long Island

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Message Posted: Mar 10, 2010 9:35:09 AM

The only direction I see is up. China is consuming 5% more every year and our economy, though sputtering, will still continue to consume enough to keep prices rising.
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MUSTANGSRUS
Champion Author Ontario

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Message Posted: Mar 10, 2010 7:25:12 AM

No one really knows where oil will go until it gets there.
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Buffalo Joe
Champion Author Alberta

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Message Posted: Mar 10, 2010 7:18:04 AM

Seems to go one way, UP!!!!!
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JimL1
Champion Author Phoenix

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Message Posted: Mar 10, 2010 7:10:11 AM

Speculators are manipulators, not the only manipulators, but manipulators just the same.
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JimL1
Champion Author Phoenix

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Message Posted: Mar 10, 2010 7:04:19 AM

Yes, I have been tracking speculator postings on this site for weeks. The least number of articles designed to increase speculation on any one day has been two. Today it is the highest ever with five out of five. Speculators tend to win more profits as more of those not deeply experienced in commodity speculation get into the game. It is very similar to a poker game in that respect. The new players/speculators normally get their clocks cleaned and the experienced players/speculators increase their winnings.
Stirring up the frenzy of speculators increases the cost of fuel. Is this what we need on a site that is supposed to be dedicated to helping people find less expensive fuel?
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woodeye55
Champion Author Gary

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Message Posted: Mar 10, 2010 7:02:58 AM

The only exact way to predict the direction is to ask the "Magic 8 Ball".
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Grismer
Champion Author Kitchener-Waterloo

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Message Posted: Mar 10, 2010 7:00:18 AM

Speculators not very brave when it comes to lower profits with greater risk attached.
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Valricoslash
Champion Author Tampa

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Message Posted: Mar 10, 2010 6:56:53 AM

These articles are only valid at the exact moment they are printed. I guarantee you that sometime today there wil be at least two or three articles forecasting prices up or down.
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ky_commuter75
Champion Author Cincinnati

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Message Posted: Mar 10, 2010 6:53:27 AM

Look like JimL1 did some research.
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Jamer
Champion Author Orange County

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Message Posted: Mar 10, 2010 6:51:42 AM

Back on the speculation roller coaster ride again.
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JimL1
Champion Author Phoenix

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Message Posted: Mar 10, 2010 6:51:37 AM

All five articles were put up by the same person, stpetebp . Is stpetebp a speculator? This question is valid since all articles on the Gas Buddy Blog/Recent News site today are designed to feed the speculator frenzy.
1)" Higher gasoline prices coming”,
2)“ Queensland picks banks for A$7bn rail IPO,”
3)“ Oil Struggles For Clear Direction From $81.50,”
4)" Tullow says profits have been hit by falling oil prices,” and
5)” OPEC President Vows to Reduce Oil-Price Speculation, Volatility.”
The fifth article may be good news in the long run, but in the short, probably not. These articles are simply more attempts to stir up the frenzy of speculators. Stirring up the frenzy of speculators increases the cost of fuel. Is this what we need on a site that is supposed to be dedicated to helping people find less expensive fuel?
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Chitowner
Champion Author Omaha

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Message Posted: Mar 10, 2010 6:50:02 AM

Or in other words no one is buying futures at 81.50
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REKEY
Champion Author South Carolina

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Message Posted: Mar 10, 2010 6:48:52 AM

Does anyone think it's going down?
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foxups
Champion Author Toledo

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Message Posted: Mar 10, 2010 6:47:55 AM

getting out of hand again
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sdhuper
Sophomore Author Toronto

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Message Posted: Mar 10, 2010 6:47:47 AM

its going up without doubt
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matman01
Champion Author Detroit

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Message Posted: Mar 10, 2010 6:47:40 AM

Garbage
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MightyDude
Champion Author Minnesota

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Message Posted: Mar 10, 2010 6:47:37 AM

Hang-Loose ;)
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Zuman
Champion Author New York

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Message Posted: Mar 10, 2010 6:46:36 AM

More crap.
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Tnerbeel
Champion Author Houston

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Message Posted: Mar 10, 2010 6:46:36 AM

Seems it is going to stick around $80 for quite some time.
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rippinusoff
Champion Author Lexington

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Message Posted: Mar 10, 2010 6:46:34 AM

should be $30 a bbl.
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braves89
Champion Author Chicago

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Message Posted: Mar 10, 2010 6:46:28 AM

oil needs to stay down
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QueenMother
Champion Author New Hampshire

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Message Posted: Mar 10, 2010 6:45:41 AM

Yes, and we're struggling as well.
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goldilox88
Champion Author Montreal

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Message Posted: Mar 10, 2010 6:45:38 AM

Struggle no more. It's going up.
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smoketown
Champion Author Cincinnati

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Message Posted: Mar 10, 2010 6:44:47 AM

Now they have lied about inventories, Sure they have.............
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GasholeMI
Champion Author Lansing

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Message Posted: Mar 10, 2010 6:41:44 AM

Give it a few days. It will go up.
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civicdutie
Champion Author Rochester

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Message Posted: Mar 10, 2010 6:41:25 AM

Good, speculators beware of putting all your eggs in one basket, unless your name is Bernie Madoff.
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RANGERKY
Rookie Author Lexington

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Message Posted: Mar 10, 2010 6:41:19 AM

SHOULD WE EVEN QUESTION WHAT DIRECTION IT IS GOING TO GO?
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unicornpmb
Champion Author Buffalo

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Message Posted: Mar 10, 2010 6:40:58 AM

All those who want the down direction type yea.
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rvn4me
Champion Author Texas

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Message Posted: Mar 10, 2010 6:40:48 AM

The inventories will probally show an increase but the price will still climb. Refineries are only operating at 80% because of inventory and demand yet experts say gas is still going over $3 soon.
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TomT2Lee
Champion Author Cincinnati

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Message Posted: Mar 10, 2010 6:37:23 AM

It could be hitting the top of the current defined range or it is building a base that will push it much higher. It is worth noting that the US influence over oil prices has been taking a hefty hit over the past few months. It is really going to shock most American's when oil prices break the $100 mark and the fake US economic recovery has died.
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Rick01
Champion Author Utah

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Message Posted: Mar 10, 2010 6:34:23 AM

Oil needs to fall fast and hard so we can get this country's recovery moving!
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olcowboy14
Champion Author Spokane

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Message Posted: Mar 10, 2010 6:32:59 AM

OK, so it didn't go up or down for a whole day. It isn't the end of the world. It shouldn't move up or down for weeks at a time. I read somewhere a long time ago that oil would be sold to 4 or 5 different companies and never leave its original container. I think that if they buy the oil they should take physical possession of it. That should cut down on so many middle men, and hopefully the prices.

[Edited by: olcowboy14 at 3/10/2010 7:37:40 AM EST]
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WonderfulMI
Champion Author Michigan

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Message Posted: Mar 10, 2010 6:32:02 AM

The only reason for rapid price change is speculation. supply and demand gradually change, but speculation fluctuates rapidly.
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jppezz
Champion Author New Mexico

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Message Posted: Mar 10, 2010 6:30:06 AM

We want it to go down but speculators and greed will make it go up.
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TeachR06
Champion Author Raleigh

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Message Posted: Mar 10, 2010 6:28:57 AM

Clear direction. Sounds like the direction is profit, profit,profit.
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THEDodgeman
Champion Author Denver

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Message Posted: Mar 10, 2010 6:28:11 AM

NEEDS TO GO DOWN
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MertieMan
Champion Author Lexington

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Message Posted: Mar 10, 2010 6:24:29 AM

Well the oil industry sure found new ways to elevate the prices at the pumps yesterday.
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jimraehl
Champion Author Utah

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Message Posted: Mar 10, 2010 6:23:29 AM

A little more time for the current stock market correction, then watch out below.
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Hangnail309
Champion Author Manitoba

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Message Posted: Mar 10, 2010 6:23:27 AM

Greed wrote this story. Market fundamentals mean nothing ...
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biza4u
Champion Author New Haven

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Message Posted: Mar 10, 2010 6:21:53 AM

The greed mongers are aware of what direction they want
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DerHahn
Champion Author Illinois

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Message Posted: Mar 10, 2010 6:21:23 AM

looking for a clear direction. just ask us, we clearly want it to go down.
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turbosaab
Champion Author Cleveland

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Message Posted: Mar 10, 2010 6:20:41 AM

Who cares? Since when is there any relationship between the price of oil and the cost of gasoline?
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afghaned
Champion Author Hamilton

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Message Posted: Mar 10, 2010 6:19:10 AM

It's obvious the direction will be up, especially with the shift to summer gas as others have said.
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BobD2009
Champion Author Long Island

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Message Posted: Mar 10, 2010 6:18:00 AM

I'm sure they have a clear direction all right. Up,Up and Up.
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TerryLee
Champion Author Ohio

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Message Posted: Mar 10, 2010 6:16:36 AM

Greed is what drives the pump prices
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TheSnowstorm
Champion Author Montreal

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Message Posted: Mar 10, 2010 6:16:31 AM

Baron62nd: You hit the nail right on the head!!
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Beau2140
Champion Author New York

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Message Posted: Mar 10, 2010 6:16:07 AM

Speculators control the prices.
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Fitwit
Champion Author Stockton

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Message Posted: Mar 10, 2010 6:14:23 AM

Go west young man, go west, just don't park in California.
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9C1
Champion Author Chicago

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Message Posted: Mar 10, 2010 6:12:37 AM

Gasoline has climbed 20 cents in the last week, just because. The price of crude has nothing to do with it.
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