GasBuddy Blog

Message Forum - Read Message

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Oil Caps Biggest Weekly Gain in Three Months	Post a Reply Back to Topics

WxVette Rookie Author Omaha Posts:34 Points:1,014,205 Joined:Jul 2007	Message Posted: Jan 5, 2013 8:01:24 AM Ignore WxVette Report Abuse Oil gained in New York, capping the biggest weekly advance in three months, after U.S. employers hired more workers than expected in December. Prices increased 17 cents after the Labor Department said payrolls rose by 155,000 workers last month, exceeding the 152,000 forecast in a Bloomberg survey of economists. Futures were down for most of the day as the Energy Department reported gasoline and distillate fuel supplies jumped a combined 7.14 million barrels last week. “The payroll number is stronger than expected and it gives the market a boost,” said Rich Ilczyszyn, chief market strategist and founder of Iitrader.com in Chicago. “The large build in gasoline and distillates put a lid on oil prices.” West Texas Intermediate for February delivery settled at $93.09 a barrel on th Visit Bloomberg for full article

WxVette

Rookie Author
Omaha

Posts:34
Points:1,014,205
Joined:Jul 2007

Message Posted: Jan 5, 2013 8:01:24 AM

Ignore WxVette Report Abuse

Oil gained in New York, capping the biggest weekly advance in three months, after U.S. employers hired more workers than expected in December.

Prices increased 17 cents after the Labor Department said payrolls rose by 155,000 workers last month, exceeding the 152,000 forecast in a Bloomberg survey of economists. Futures were down for most of the day as the Energy Department reported gasoline and distillate fuel supplies jumped a combined 7.14 million barrels last week.

“The payroll number is stronger than expected and it gives the market a boost,” said Rich Ilczyszyn, chief market strategist and founder of Iitrader.com in Chicago. “The large build in gasoline and distillates put a lid on oil prices.”

West Texas Intermediate for February delivery settled at $93.09 a barrel on th
Visit Bloomberg for full article

REPLIES (newest first)Ignore Short Messages

BEGTWO Champion Author Maryland Posts:1,952 Points:726,090 Joined:Sep 2010	Message Posted: Jan 7, 2013 8:46:11 AM Ignore BEGTWO Report Abuse K
remay Champion Author Houston Posts:6,978 Points:2,119,565 Joined:May 2006	Message Posted: Jan 6, 2013 11:48:17 PM Ignore remay Report Abuse and as expected, pump prices shotup
Tekkersmom57 Champion Author Syracuse Posts:1,889 Points:703,140 Joined:May 2010	Message Posted: Jan 5, 2013 10:47:38 PM Ignore Tekkersmom57 Report Abuse Funny how the increase of 3,000 workers being above the 152,000 forecast, causes oil prices to increase. I am so sick of these speculators twisting everything around so that they can buy up oil JUST on paper to sell it in the future for a substantial profit. Make them take delivery of the oil they buy in the New York harbor and we would see less buying and then gas won't jump as quickly. I see this as an easy solution, but apparently the government does not! Let's go back to supply and demand as it is meant to be, not artificially inflated to serve their needs.
Night Owl Champion Author Toronto Posts:7,565 Points:1,789,525 Joined:Jul 2004	Message Posted: Jan 5, 2013 10:57:31 AM Ignore Night Owl Report Abuse Greedy Wall Street oil speculators can't stop being greedy.
Buckeyee Champion Author Maine Posts:4,616 Points:901,575 Joined:May 2010	Message Posted: Jan 5, 2013 10:47:50 AM Ignore Buckeyee Report Abuse The title of the article should read " OIL SPECULATORS rip off the consumer again. " Obama goes on second vacation AGAIN. The federal government does nothing but spend, spend, spend.
fora_7 All-Star Author Montreal Posts:872 Points:208,455 Joined:Sep 2012	Message Posted: Jan 5, 2013 10:22:59 AM Ignore fora_7 Report Abuse China demand.... Happy New Year
cdrrod Champion Author Wisconsin Posts:4,164 Points:785,725 Joined:Feb 2006	Message Posted: Jan 5, 2013 10:21:13 AM Ignore cdrrod Report Abuse Here comes the gouge! Happy New Year, America!
Discovery02 Champion Author Colorado Springs Posts:2,580 Points:312,615 Joined:May 2012	Message Posted: Jan 5, 2013 10:02:12 AM Ignore Discovery02 Report Abuse Big week for Big Oil as they begin to believe that Congress is actually going to get something done...so Big Oil wants to take action to keep the economy in the toilet.
werich44 Champion Author California Posts:1,867 Points:470,905 Joined:Jun 2011	Message Posted: Jan 5, 2013 9:31:22 AM Ignore werich44 Report Abuse Good times are over!
bills299 Champion Author Atlanta Posts:3,376 Points:906,440 Joined:May 2005	Message Posted: Jan 5, 2013 9:25:18 AM Ignore bills299 Report Abuse Stupid cliff!
brbaritone Champion Author Virginia Posts:2,070 Points:1,699,725 Joined:Jan 2007	Message Posted: Jan 5, 2013 9:20:57 AM Ignore brbaritone Report Abuse We are approaching "the summer driving season."
humblepie Champion Author Toledo Posts:34,304 Points:2,373,320 Joined:Mar 2006	Message Posted: Jan 5, 2013 9:09:17 AM Ignore humblepie Report Abuse simple obamanomics
OHIO50 All-Star Author Denver Posts:881 Points:1,021,725 Joined:Mar 2010	Message Posted: Jan 5, 2013 9:06:07 AM Ignore OHIO50 Report Abuse Keep going Lower.
teenitup Champion Author Houston Posts:1,674 Points:252,030 Joined:Sep 2012	Message Posted: Jan 5, 2013 9:04:08 AM Ignore teenitup Report Abuse Much higher cost ahead for the next four years.
molebaby96 Champion Author Tallahassee Posts:2,126 Points:507,640 Joined:Nov 2011	Message Posted: Jan 5, 2013 8:50:54 AM Ignore molebaby96 Report Abuse The price at the pump is not slow to go up.
Yooperheart Champion Author Michigan Posts:3,430 Points:528,975 Joined:Feb 2010	Message Posted: Jan 5, 2013 8:50:44 AM Ignore Yooperheart Report Abuse Time to make that over priced purchase. On board for triple digit electric increase as well. Food prices going up. Taxes going up again. The only thing going down is my bank account.
SSwathwood All-Star Author Denver Posts:549 Points:779,070 Joined:Nov 2009	Message Posted: Jan 5, 2013 8:50:42 AM Ignore SSwathwood Report Abuse Just when you need a break.
peabeax55 All-Star Author Atlanta Posts:713 Points:185,515 Joined:Mar 2012	Message Posted: Jan 5, 2013 8:49:58 AM Ignore peabeax55 Report Abuse Blaming rising fuel prices on hiring more workers and overcoming the fiscal cliff is just like blaming holiday weight gain on Breathing too much air and drinking too much water. 'Nuff said.
Skunk63 Champion Author Phoenix Posts:2,562 Points:560,245 Joined:Oct 2011	Message Posted: Jan 5, 2013 8:42:58 AM Ignore Skunk63 Report Abuse Up and down. Repeat.
OTISFL Champion Author Pensacola Posts:4,620 Points:867,765 Joined:Apr 2009	Message Posted: Jan 5, 2013 8:40:30 AM Ignore OTISFL Report Abuse Sucks big time.
sabre75 Champion Author Florida Posts:1,663 Points:340,395 Joined:May 2012	Message Posted: Jan 5, 2013 8:35:02 AM Ignore sabre75 Report Abuse Not good news.
YaBassa Champion Author Michigan Posts:2,440 Points:519,050 Joined:Nov 2011	Message Posted: Jan 5, 2013 8:31:39 AM Ignore YaBassa Report Abuse Any excuse to raise the price
Rockyguitar Champion Author Tampa Posts:2,572 Points:1,204,520 Joined:Sep 2008	Message Posted: Jan 5, 2013 8:28:13 AM Ignore Rockyguitar Report Abuse Well this sucks.
pscamp Champion Author Ottawa Posts:3,292 Points:476,935 Joined:May 2011	Message Posted: Jan 5, 2013 8:27:16 AM Ignore pscamp Report Abuse OK
Lugi1967 Champion Author Ohio Posts:4,798 Points:1,004,195 Joined:Jun 2010	Message Posted: Jan 5, 2013 8:26:06 AM Ignore Lugi1967 Report Abuse all speculation
el_fr Champion Author Massachusetts Posts:3,352 Points:747,625 Joined:Apr 2011	Message Posted: Jan 5, 2013 8:26:04 AM Ignore el_fr Report Abuse Why would that be?
OHMS Champion Author Orange County Posts:13,732 Points:1,694,805 Joined:May 2005	Message Posted: Jan 5, 2013 8:08:39 AM Ignore OHMS Report Abuse THANKS WxVette; I'm on it now