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Author Topic: Oil finishes higher on EIA supply report Back to Topics
Nitewolf
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Anchorage

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Message Posted: Jan 5, 2013 4:52:57 AM

The Associated Press

NEW YORK — The price of oil finished higher Friday after the Energy Department's Energy Information Administration reported a much bigger drop in the nation's crude supplies than analysts expected.

After trading lower much of the day, benchmark crude for February delivery closed up 17 cents at $93.09 a barrel on the New York Mercantile Exchange.

The EIA report said crude supplies fell by 11.1 million barrels, or 3 percent, last week. Analysts expected a drop of just a million barrels. Oil supplies shrank as crude imports fell off by almost a million barrels a day last week. At the same time, supplies at the crucial hub for domestic crude at Cushing, Okla., stayed up at near-record levels. Overall U.S. crude inventories are about 9 percent above year-ago levels.
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REPLIES (newest first) Post a Reply
BUSMAN1105
Champion Author Atlanta

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Message Posted: Jan 5, 2013 3:16:52 PM

IT NEEDS TO DROP AGAIN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
sljbc475
Champion Author Tucson

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Message Posted: Jan 5, 2013 1:37:39 PM

Prices tend to go back up during the 1st quarter of the year.
eomc17
Champion Author Tucson

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Message Posted: Jan 5, 2013 11:31:07 AM

I'm sure a lot of this "crude supply drop" are sitting on tankers in open waters that could be delivered but won't be delivered soon so big oil and speculators can push the price of oil (and gasoline) higher, the same bullshet every single year. GRRR. Will our corrupt and very ignorant government ever adequately regulate these AHoles???
Night Owl
Champion Author Toronto

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Message Posted: Jan 5, 2013 10:59:20 AM

Greedy Wall Street oil speculators continue to set oil prices to whatever they feel like.
Shadowwarrior
Champion Author Pennsylvania

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Message Posted: Jan 5, 2013 10:39:32 AM

Bunch of B_llSh_T ! Big oil is doing the hide the supplies crap to boost prices.
werich44
Champion Author California

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Message Posted: Jan 5, 2013 9:34:44 AM

Lies, Lies and More Lies!
bills299
Champion Author Atlanta

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Message Posted: Jan 5, 2013 9:27:03 AM

Wow!
brbaritone
Champion Author Virginia

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Message Posted: Jan 5, 2013 9:22:28 AM

'Excuse of the Day.'
humblepie
Champion Author Toledo

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Message Posted: Jan 5, 2013 9:11:48 AM

a useless report, created by a useless government department
just one of many
OHIO50
Champion Author Denver

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Message Posted: Jan 5, 2013 9:08:00 AM

Stop using the up & down price of oil as a inmome source.
turboz2012
Champion Author Charleston

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Message Posted: Jan 5, 2013 9:03:17 AM

I'm sure a lot of that "drop" in supplies ahd to due with the fact it was a shortened week due to the holidays. they neglected to say that.
SSwathwood
All-Star Author Denver

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Message Posted: Jan 5, 2013 9:00:04 AM

Give me a break!
Eagle3236
Champion Author Missouri

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Message Posted: Jan 5, 2013 8:53:00 AM

Need to build the Keystone pipeline ASAP!
OTISFL
Champion Author Pensacola

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Message Posted: Jan 5, 2013 8:41:13 AM

One story after another.
sabre75
Champion Author Florida

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Message Posted: Jan 5, 2013 8:37:22 AM

Interesting.
Rockyguitar
Champion Author Tampa

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Message Posted: Jan 5, 2013 8:30:39 AM

With huge reserves underfoot in the US, why aren't we aggressively going after it. Oops, my bad; I forgot about November.......2008.
Lugi1967
Champion Author Ohio

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Message Posted: Jan 5, 2013 8:27:55 AM

Inventories are still high
pscamp
Champion Author Ottawa

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Message Posted: Jan 5, 2013 8:26:38 AM

Hmmm...
OHMS
Champion Author Orange County

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Message Posted: Jan 5, 2013 8:12:12 AM

and the reason is not agreed upon
jjjleblanc
Champion Author Rochester

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Message Posted: Jan 5, 2013 8:11:15 AM

Different story every day.
Peachy1
Champion Author St. Louis

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Message Posted: Jan 5, 2013 7:53:02 AM

They will do and say whatever they want just because they can.
Evilmaddog
Champion Author British Columbia

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Message Posted: Jan 5, 2013 7:50:16 AM

any excuse will do
FPLREP
Champion Author Virginia

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Message Posted: Jan 5, 2013 7:25:39 AM

But refined products increased, they ignore that fact.
AVKZ
Champion Author Kalamazoo

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Message Posted: Jan 5, 2013 7:04:33 AM

Why?
amerk73
Champion Author Dallas

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Message Posted: Jan 5, 2013 6:57:38 AM

not fair oil prices
yardslave
Champion Author Oklahoma City

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Message Posted: Jan 5, 2013 6:50:18 AM

I smell a speculator....
grandpadon28110
Champion Author Charlotte

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Message Posted: Jan 5, 2013 6:49:16 AM

I hope the speculators get bombed by falling prices.
wrunner
Champion Author Virginia

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Message Posted: Jan 5, 2013 6:46:32 AM

Speculators delight.
daytonabiker
Champion Author Florida

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Message Posted: Jan 5, 2013 6:22:39 AM

this won't last long
"There were also some encouraging economic reports Friday that raised hopes for higher oil demand."
when gasoline goes up
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