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Author Topic: Oil Caps Biggest Weekly Gain in Three Months Back to Topics
WxVette

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Omaha

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

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
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REPLIES (newest first) Post a Reply
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BEGTWO
Champion Author Maryland

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Message Posted: Jan 7, 2013 8:46:11 AM

K
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remay
Champion Author Houston

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Message Posted: Jan 6, 2013 11:48:17 PM

and as expected, pump prices shotup
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Tekkersmom57
Champion Author Syracuse

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Message Posted: Jan 5, 2013 10:47:38 PM

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.
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Night Owl
Champion Author Toronto

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Message Posted: Jan 5, 2013 10:57:31 AM

Greedy Wall Street oil speculators can't stop being greedy.
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Buckeyee
Champion Author Maine

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Message Posted: Jan 5, 2013 10:47:50 AM

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.
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fora_7
Champion Author Montreal

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Message Posted: Jan 5, 2013 10:22:59 AM

China demand.... Happy New Year
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cdrrod
Champion Author Wisconsin

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Message Posted: Jan 5, 2013 10:21:13 AM

Here comes the gouge! Happy New Year, America!
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Discovery02
Champion Author Colorado Springs

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Message Posted: Jan 5, 2013 10:02:12 AM

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.
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werich44
Champion Author California

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Message Posted: Jan 5, 2013 9:31:22 AM

Good times are over!
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bills299
Champion Author Atlanta

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Message Posted: Jan 5, 2013 9:25:18 AM

Stupid cliff!
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brbaritone
Champion Author Virginia

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Message Posted: Jan 5, 2013 9:20:57 AM

We are approaching "the summer driving season."
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humblepie
Champion Author Toledo

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Message Posted: Jan 5, 2013 9:09:17 AM

simple obamanomics
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OHIO50
Champion Author Denver

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Message Posted: Jan 5, 2013 9:06:07 AM

Keep going Lower.
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teenitup
Champion Author Houston

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Message Posted: Jan 5, 2013 9:04:08 AM

Much higher cost ahead for the next four years.
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molebaby96
Champion Author Tallahassee

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Message Posted: Jan 5, 2013 8:50:54 AM

The price at the pump is not slow to go up.
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Yooperheart
Champion Author Michigan

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Message Posted: Jan 5, 2013 8:50:44 AM

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.
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SSwathwood
All-Star Author Denver

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Message Posted: Jan 5, 2013 8:50:42 AM

Just when you need a break.
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peabeax55
All-Star Author Atlanta

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Message Posted: Jan 5, 2013 8:49:58 AM

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.
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Skunk63
Champion Author Phoenix

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Message Posted: Jan 5, 2013 8:42:58 AM

Up and down. Repeat.
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OTISFL
Champion Author Pensacola

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Message Posted: Jan 5, 2013 8:40:30 AM

Sucks big time.
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sabre75
Champion Author Florida

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Message Posted: Jan 5, 2013 8:35:02 AM

Not good news.
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YaBassa
Champion Author Michigan

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Message Posted: Jan 5, 2013 8:31:39 AM

Any excuse to raise the price
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Rockyguitar
Champion Author Tampa

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Message Posted: Jan 5, 2013 8:28:13 AM

Well this sucks.
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pscamp
Champion Author Ottawa

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Message Posted: Jan 5, 2013 8:27:16 AM

OK
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Lugi1967
Champion Author Ohio

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Message Posted: Jan 5, 2013 8:26:06 AM

all speculation
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el_fr
Champion Author Massachusetts

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Message Posted: Jan 5, 2013 8:26:04 AM

Why would that be?
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OHMS
Champion Author Orange County

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Message Posted: Jan 5, 2013 8:08:39 AM

THANKS WxVette; I'm on it now
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