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GasBuddy News Article

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Oil Retreats After Sharp Gains

Reuters -- Crude oil prices fell back on Wednesday as investors returned their focus to the grim economic backdrop and took profits after the sharp gains in previous sessions.

Trading was expected to be limited with US markets closed for the Independence Day holiday, and ahead of meetings of European Central Bank and the Bank of England policy makers scheduled for Thursday.

Brent crude [LCOCV1 100.02 -0.66 (-0.66%) ] oil was 49 cents lower at $100.18 per barrel earlier Wednesday, after jumping more than 3 percent in the previous session on short-covering before the U.S. holiday.

U.S. crude [CLCV1 87.04 -0.62 (-0.71%) ] fell 55 cents to $87.11 after settling on Tuesday at its highest close since May 30.

"After a strong rally yesterday, with the U.S. liquidity out of the marke

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Submitted Jul 04, 2012 By: WxVette
Category: Daily News Article Discussions > Topics Add to favorite topics  
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honda0105
Champion Author Tallahassee

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Message Posted: Jul 9, 2012 3:51:54 AM
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crude may have fallen more, but pump prices have gone up about 25 cents in 10 days.
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RitaVespa
Champion Author Oregon

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Message Posted: Jul 5, 2012 9:32:07 AM
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ok
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OTISFL
Champion Author Pensacola

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Message Posted: Jul 5, 2012 3:48:45 AM
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We shall see! Rather a confusing article.
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hank1326
Champion Author Los Angeles

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Message Posted: Jul 5, 2012 12:40:59 AM
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Time will tell the truth.
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afghaned
Champion Author Hamilton

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Message Posted: Jul 5, 2012 12:38:26 AM
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Our pump prices are spiking again!!!
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heydano67
Champion Author California

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Message Posted: Jul 5, 2012 12:34:45 AM
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Forget Iran and her idle threats, lets get back to $60 a barrel
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anascom
Champion Author Hamilton

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Message Posted: Jul 5, 2012 12:20:54 AM
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not here in ontario, canada!
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LV_Mike1
Sophomore Author Las Vegas

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Message Posted: Jul 4, 2012 10:26:06 PM
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I agree with hatterasjack. Maybe even a bit lower>
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hatterasjack
Champion Author South Carolina

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Message Posted: Jul 4, 2012 10:20:02 PM
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Don't know that I understand all of the article, but I think a price of $65 to $80 would be fair.
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Quick68
Champion Author Columbus

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Message Posted: Jul 4, 2012 10:11:02 PM
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When oil was at $78 what made it go to $87? Corruption,Speculators,Politicians,capitalist,Greed and any other name you can think of.
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judgemobile
Champion Author Ohio

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Message Posted: Jul 4, 2012 10:07:20 PM
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England is about to print billions of new paper money notes--can QE (to infinity) here in the USA be far behind ?
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carman11
Champion Author North Carolina

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Message Posted: Jul 4, 2012 10:06:51 PM
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It will be what it is going to be!!!
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Cashless
Champion Author Akron

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Message Posted: Jul 4, 2012 10:03:14 PM
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It's about time.
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bababooey2
Champion Author Hartford

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Message Posted: Jul 4, 2012 10:02:52 PM
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Good......
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SavALot
Champion Author Virginia Beach

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Message Posted: Jul 4, 2012 10:01:54 PM
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It well be back... Such is life
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n3tbc
Veteran Author Wilmington

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Message Posted: Jul 4, 2012 9:59:36 PM
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Ok
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CPGas1815
Champion Author Michigan

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Message Posted: Jul 4, 2012 9:59:31 PM
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O.K.
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mrbee
Champion Author Little Rock

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Message Posted: Jul 4, 2012 9:58:07 PM
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Good!
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jessek
Champion Author Detroit

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Message Posted: Jul 4, 2012 9:57:33 PM
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Keep going
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JimVP
All-Star Author Chicago

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Message Posted: Jul 4, 2012 9:55:39 PM
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Amazing how fast gas prices raise versus the time it takes it to lower.
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LCSTEELERBOB
Champion Author Gary

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Message Posted: Jul 4, 2012 9:54:50 PM
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SPICKING PRICES FOR THE $TH HOLIDAY
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whaboush
Champion Author Richmond

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Message Posted: Jul 4, 2012 9:53:28 PM
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How is Brent Crude up to $100?
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MDTDriver
Champion Author California

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Message Posted: Jul 4, 2012 9:51:30 PM
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Goody Goody, after the 4th is over now?
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aarrrt
Champion Author San Diego

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Message Posted: Jul 4, 2012 9:51:15 PM
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Takes an hour for prices to climb, weeks/months to fall. Been this way for some years now.
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WBBNC
Veteran Author North Carolina

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Message Posted: Jul 4, 2012 9:49:55 PM
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Let's hope to see lower gas prices
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GigHarborHound
Champion Author Tacoma

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Message Posted: Jul 4, 2012 9:48:57 PM
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OK!!
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Kawibiker
Champion Author Illinois

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Message Posted: Jul 4, 2012 9:47:47 PM
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when price goes up, it goes right now, when it comes down, it takes forever. let it keep going down!!!
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preacherjohn
Champion Author Modesto

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Message Posted: Jul 4, 2012 9:47:13 PM
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More Speculation..
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jdc17327
Champion Author Pennsylvania

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Message Posted: Jul 4, 2012 9:47:08 PM
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great!
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RUNNINONEMPTYFL
Champion Author Florida

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Message Posted: Jul 4, 2012 9:45:47 PM
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Here we go again...
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justmedc
Veteran Author Michigan

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Message Posted: Jul 4, 2012 9:45:44 PM
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great... the price went up fast. will take quite awhile to come down :(
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FlyNFool
Champion Author South Carolina

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Message Posted: Jul 4, 2012 9:44:41 PM
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Oh no?
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satrn38mpg
Champion Author Raleigh

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Message Posted: Jul 4, 2012 9:42:31 PM
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really ??
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Jeeputtputt
Champion Author Ohio

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Message Posted: Jul 4, 2012 9:41:53 PM
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stupid, stupid, stupid....
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my2002m
Champion Author Tulsa

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Message Posted: Jul 4, 2012 9:37:32 PM
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Still have a ways to go.
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drz614
Champion Author Harrisburg

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Message Posted: Jul 4, 2012 9:37:32 PM
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ok
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gilfarm
Champion Author Alabama

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Message Posted: Jul 4, 2012 9:36:39 PM
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Come on down.
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alaskareed
Champion Author Alaska

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Message Posted: Jul 4, 2012 9:35:54 PM
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let's keep it down.
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MacDad614
Champion Author Atlanta

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Message Posted: Jul 4, 2012 9:34:33 PM
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$87.660 at GasBuddy.com, so if it fell to 87.11, someone should tell GB.

––––––––––

"After a strong rally yesterday, with the U.S. liquidity out of the market, the market is moving to a level that is easier to defend," said Filip Petersson, analyst at SEB in Stockholm.

Who benefits from this? Big Oil, not the U.S. consumer.

–––––––––––––––

"Iran said it had successfully tested medium-range missiles capable of hitting Israel as a response to threats of attack, further stoking tension between" ... ? ? ? Anyone working at Reuters?
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WIPACKERFAN
Champion Author Chicago

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Message Posted: Jul 4, 2012 9:33:55 PM
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Still way too high.
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mstearno
Champion Author Dayton

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Message Posted: Jul 4, 2012 9:33:33 PM
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just go to war with Iran and be done with it
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iceman11
Champion Author Ontario

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Message Posted: Jul 4, 2012 9:28:03 PM
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Going up here
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carloco75
Champion Author Richmond

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Message Posted: Jul 4, 2012 9:26:17 PM
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Sure Sure Sure...
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bra0712
Champion Author Arizona

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Message Posted: Jul 4, 2012 9:23:27 PM
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Keep falling!!!
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wayoung56
Champion Author Alabama

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Message Posted: Jul 4, 2012 9:22:37 PM
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Interesting article...
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seahawks
Champion Author Washington

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Message Posted: Jul 4, 2012 9:21:39 PM
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short lived!!!
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number4
Sophomore Author Tallahassee

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Message Posted: Jul 4, 2012 9:21:22 PM
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bull
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44Irish
Champion Author Ontario

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Message Posted: Jul 4, 2012 9:18:13 PM
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BULL
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Adman1989
All-Star Author Massachusetts

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Message Posted: Jul 4, 2012 9:16:38 PM
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good news
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Beaveronparade
Champion Author Hartford

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Message Posted: Jul 4, 2012 9:14:39 PM
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Then why are prices up slightly at the pump? That's what I'd like to know. Holiday travel time perhaps?
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