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Author	Topic: Oil finishes higher on EIA supply report	Post a Reply Back to Topics

Nitewolf Champion Author Anchorage Posts:16,537 Points:2,104,670 Joined:Jun 2004	Message Posted: Jan 5, 2013 4:52:57 AM Ignore Nitewolf Report Abuse 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. Visit Peninsula Clarion for full article

Nitewolf

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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.
Visit Peninsula Clarion for full article

REPLIES (newest first)Ignore Short Messages

BUSMAN1105 Champion Author Atlanta Posts:2,156 Points:1,170,025 Joined:Aug 2008	Message Posted: Jan 5, 2013 3:16:52 PM Ignore BUSMAN1105 Report Abuse IT NEEDS TO DROP AGAIN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
sljbc475 Champion Author Tucson Posts:4,215 Points:871,400 Joined:Dec 2010	Message Posted: Jan 5, 2013 1:37:39 PM Ignore sljbc475 Report Abuse Prices tend to go back up during the 1st quarter of the year.
eomc17 Champion Author Tucson Posts:1,822 Points:134,145 Joined:Mar 2007	Message Posted: Jan 5, 2013 11:31:07 AM Ignore eomc17 Report Abuse 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 Posts:7,545 Points:1,785,625 Joined:Jul 2004	Message Posted: Jan 5, 2013 10:59:20 AM Ignore Night Owl Report Abuse Greedy Wall Street oil speculators continue to set oil prices to whatever they feel like.
Shadowwarrior All-Star Author Pennsylvania Posts:925 Points:2,019,650 Joined:Oct 2005	Message Posted: Jan 5, 2013 10:39:32 AM Ignore Shadowwarrior Report Abuse Bunch of B_llSh_T ! Big oil is doing the hide the supplies crap to boost prices.
werich44 Champion Author California Posts:1,852 Points:467,980 Joined:Jun 2011	Message Posted: Jan 5, 2013 9:34:44 AM Ignore werich44 Report Abuse Lies, Lies and More Lies!
bills299 Champion Author Atlanta Posts:3,361 Points:903,515 Joined:May 2005	Message Posted: Jan 5, 2013 9:27:03 AM Ignore bills299 Report Abuse Wow!
brbaritone Champion Author Virginia Posts:2,063 Points:1,696,960 Joined:Jan 2007	Message Posted: Jan 5, 2013 9:22:28 AM Ignore brbaritone Report Abuse 'Excuse of the Day.'
humblepie Champion Author Toledo Posts:34,182 Points:2,370,395 Joined:Mar 2006	Message Posted: Jan 5, 2013 9:11:48 AM Ignore humblepie Report Abuse a useless report, created by a useless government department just one of many
OHIO50 All-Star Author Denver Posts:866 Points:1,018,800 Joined:Mar 2010	Message Posted: Jan 5, 2013 9:08:00 AM Ignore OHIO50 Report Abuse Stop using the up & down price of oil as a inmome source.
turboz2012 All-Star Author Charleston Posts:677 Points:373,620 Joined:Feb 2012	Message Posted: Jan 5, 2013 9:03:17 AM Ignore turboz2012 Report Abuse 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 Posts:549 Points:776,595 Joined:Nov 2009	Message Posted: Jan 5, 2013 9:00:04 AM Ignore SSwathwood Report Abuse Give me a break!
Eagle3236 Champion Author Missouri Posts:1,143 Points:208,200 Joined:Oct 2012	Message Posted: Jan 5, 2013 8:53:00 AM Ignore Eagle3236 Report Abuse Need to build the Keystone pipeline ASAP!
OTISFL Champion Author Pensacola Posts:4,605 Points:864,840 Joined:Apr 2009	Message Posted: Jan 5, 2013 8:41:13 AM Ignore OTISFL Report Abuse One story after another.
sabre75 Champion Author Florida Posts:1,663 Points:340,395 Joined:May 2012	Message Posted: Jan 5, 2013 8:37:22 AM Ignore sabre75 Report Abuse Interesting.
Rockyguitar Champion Author Tampa Posts:2,557 Points:1,201,595 Joined:Sep 2008	Message Posted: Jan 5, 2013 8:30:39 AM Ignore Rockyguitar Report Abuse 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 Posts:4,783 Points:1,001,270 Joined:Jun 2010	Message Posted: Jan 5, 2013 8:27:55 AM Ignore Lugi1967 Report Abuse Inventories are still high
pscamp Champion Author Ottawa Posts:3,270 Points:474,160 Joined:May 2011	Message Posted: Jan 5, 2013 8:26:38 AM Ignore pscamp Report Abuse Hmmm...
OHMS Champion Author Orange County Posts:13,712 Points:1,690,905 Joined:May 2005	Message Posted: Jan 5, 2013 8:12:12 AM Ignore OHMS Report Abuse and the reason is not agreed upon
jjjleblanc Champion Author Rochester Posts:5,869 Points:1,517,945 Joined:Jun 2008	Message Posted: Jan 5, 2013 8:11:15 AM Ignore jjjleblanc Report Abuse Different story every day.
Peachy1 All-Star Author St. Louis Posts:768 Points:1,650,240 Joined:Aug 2005	Message Posted: Jan 5, 2013 7:53:02 AM Ignore Peachy1 Report Abuse They will do and say whatever they want just because they can.
Evilmaddog Champion Author British Columbia Posts:3,317 Points:956,575 Joined:Aug 2010	Message Posted: Jan 5, 2013 7:50:16 AM Ignore Evilmaddog Report Abuse any excuse will do
FPLREP Champion Author Virginia Posts:8,256 Points:2,447,275 Joined:Oct 2005	Message Posted: Jan 5, 2013 7:25:39 AM Ignore FPLREP Report Abuse But refined products increased, they ignore that fact.
AVKZ All-Star Author Kalamazoo Posts:841 Points:292,950 Joined:Apr 2012	Message Posted: Jan 5, 2013 7:04:33 AM Ignore AVKZ Report Abuse Why?
amerk73 Champion Author Dallas Posts:7,045 Points:1,620,105 Joined:Oct 2008	Message Posted: Jan 5, 2013 6:57:38 AM Ignore amerk73 Report Abuse not fair oil prices
yardslave Champion Author Oklahoma City Posts:2,549 Points:595,830 Joined:Dec 2005	Message Posted: Jan 5, 2013 6:50:18 AM Ignore yardslave Report Abuse I smell a speculator....
grandpadon28110 Champion Author Charlotte Posts:4,711 Points:1,141,335 Joined:Sep 2008	Message Posted: Jan 5, 2013 6:49:16 AM Ignore grandpadon28110 Report Abuse I hope the speculators get bombed by falling prices.
wrunner Champion Author Virginia Posts:4,440 Points:1,135,610 Joined:Dec 2009	Message Posted: Jan 5, 2013 6:46:32 AM Ignore wrunner Report Abuse Speculators delight.
daytonabiker All-Star Author Florida Posts:908 Points:200,845 Joined:Oct 2012	Message Posted: Jan 5, 2013 6:22:39 AM Ignore daytonabiker Report Abuse this won't last long "There were also some encouraging economic reports Friday that raised hopes for higher oil demand." when gasoline goes up