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Author	Topic: Oil futures slip, but climb on the week	Post a Reply Back to Topics

brbaritone Champion Author Virginia Posts:2,141 Points:1,723,145 Joined:Jan 2007	Message Posted: Jan 12, 2013 6:57:52 AM Ignore brbaritone Report Abuse Oil futures settled lower Friday, pressured as inflation data out of China came in higher than expected and as investors banked some profits after a solid performance the prior day. Oil prices still saw a gain for the week, while natural-gas futures rallied in the wake of recent data showing a hefty drop in U.S. inventories. Oil for February delivery lost 26 cents, or 0.3%, to settle at $93.56 a barrel on the New York Mercantile Exchange. Prices finished the week 0.5% higher. The contract rose 0.8% Thursday as Chinese export data spurred optimism among investors, while a report said Saudi Arabia, the world’s top oil exporter, cut production nearly 5% in December. While the cut would imply tighter supplies and higher oil prices, traders worried Friday that “reports of lower Saudi ... Visit MarketWatch for full article

brbaritone

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Virginia

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Message Posted: Jan 12, 2013 6:57:52 AM

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Oil futures settled lower Friday, pressured as inflation data out of China came in higher than expected and as investors banked some profits after a solid performance the prior day.

Oil prices still saw a gain for the week, while natural-gas futures rallied in the wake of recent data showing a hefty drop in U.S. inventories.

Oil for February delivery lost 26 cents, or 0.3%, to settle at $93.56 a barrel on the New York Mercantile Exchange. Prices finished the week 0.5% higher.

The contract rose 0.8% Thursday as Chinese export data spurred optimism among investors, while a report said Saudi Arabia, the world’s top oil exporter, cut production nearly 5% in December.

While the cut would imply tighter supplies and higher oil prices, traders worried Friday that “reports of lower Saudi ...
Visit MarketWatch for full article

REPLIES (newest first)Ignore Short Messages

dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Jan 13, 2013 1:29:40 AM Ignore dh0770 Report Abuse Manipulation by speculation!
investmentdr Champion Author Cleveland Posts:4,122 Points:1,479,935 Joined:Sep 2008	Message Posted: Jan 12, 2013 11:47:41 PM Ignore investmentdr Report Abuse Speculators buy AND sell and don't affect price
investmentdr Champion Author Cleveland Posts:4,122 Points:1,479,935 Joined:Sep 2008	Message Posted: Jan 12, 2013 11:45:59 PM Ignore investmentdr Report Abuse Right direction
Tekkersmom57 Champion Author Syracuse Posts:2,014 Points:727,915 Joined:May 2010	Message Posted: Jan 12, 2013 11:16:57 PM Ignore Tekkersmom57 Report Abuse Perfect comment, Night Owl! I've also been wondering where the CFTC is and what they have been doing?
TripleHs Champion Author Austin Posts:3,435 Points:940,090 Joined:Oct 2009	Message Posted: Jan 12, 2013 6:39:52 PM Ignore TripleHs Report Abuse prices way too high
Night Owl Champion Author Toronto Posts:7,685 Points:1,813,925 Joined:Jul 2004	Message Posted: Jan 12, 2013 5:39:54 PM Ignore Night Owl Report Abuse Greedy Wall Street oil speculators need to be banned from even touching oil futures. CFTC, where are you?
humblepie Champion Author Toledo Posts:35,301 Points:2,398,095 Joined:Mar 2006	Message Posted: Jan 12, 2013 1:28:39 PM Ignore humblepie Report Abuse makes little sense to folks, they care about pump prices
Lugi1967 Champion Author Ohio Posts:4,916 Points:1,028,685 Joined:Jun 2010	Message Posted: Jan 12, 2013 10:25:31 AM Ignore Lugi1967 Report Abuse Hate OPEC
Jeff4U Champion Author Atlanta Posts:8,890 Points:1,878,955 Joined:Nov 2004	Message Posted: Jan 12, 2013 10:08:27 AM Ignore Jeff4U Report Abuse Oil prices jumped 10% in under 30 days. That's an increase of $9.37 per barrel, completely unjustified.
Peachy1 All-Star Author St. Louis Posts:932 Points:1,677,960 Joined:Aug 2005	Message Posted: Jan 12, 2013 9:08:11 AM Ignore Peachy1 Report Abuse Again, they do what they want, when they want just because they can.
skempton Champion Author Vermont Posts:1,270 Points:863,185 Joined:Apr 2010	Message Posted: Jan 12, 2013 9:00:25 AM Ignore skempton Report Abuse speculators again.
OTISFL Champion Author Pensacola Posts:4,745 Points:892,540 Joined:Apr 2009	Message Posted: Jan 12, 2013 8:24:21 AM Ignore OTISFL Report Abuse They'll keep skyrocketing and busting our bank accounts.
bills299 Champion Author Atlanta Posts:3,501 Points:931,215 Joined:May 2005	Message Posted: Jan 12, 2013 8:23:05 AM Ignore bills299 Report Abuse Not cool the way they speculate!
Luckylindy Champion Author Milwaukee Posts:4,650 Points:1,153,795 Joined:May 2008	Message Posted: Jan 12, 2013 8:00:19 AM Ignore Luckylindy Report Abuse They will climb for the rest of the year.
sabre75 Champion Author Florida Posts:1,663 Points:340,795 Joined:May 2012	Message Posted: Jan 12, 2013 7:51:58 AM Ignore sabre75 Report Abuse .30 since Christmas here.
gs7101 Champion Author San Antonio Posts:5,653 Points:395,795 Joined:Jun 2009	Message Posted: Jan 12, 2013 7:45:37 AM Ignore gs7101 Report Abuse Big oil companies will continue to make their huge profits no matter what!
peabeax55 All-Star Author Atlanta Posts:713 Points:186,165 Joined:Mar 2012	Message Posted: Jan 12, 2013 7:39:27 AM Ignore peabeax55 Report Abuse Global forces dictate higher prices. Trend is definitely up in last 3 weeks.
pscamp Champion Author Ottawa Posts:3,517 Points:499,910 Joined:May 2011	Message Posted: Jan 12, 2013 7:35:22 AM Ignore pscamp Report Abuse Whatever
turboz2012 All-Star Author Charleston Posts:749 Points:398,535 Joined:Feb 2012	Message Posted: Jan 12, 2013 7:34:48 AM Ignore turboz2012 Report Abuse ok
hokieburgh Champion Author Virginia Posts:1,226 Points:490,580 Joined:Feb 2007	Message Posted: Jan 12, 2013 7:28:41 AM Ignore hokieburgh Report Abuse prices climbing locally...from a low below $3...to about $3.20 now
OHIO50 Champion Author Denver Posts:1,007 Points:1,046,500 Joined:Mar 2010	Message Posted: Jan 12, 2013 7:26:09 AM Ignore OHIO50 Report Abuse Go you Speculator.
farmboyTN Champion Author Tennessee Posts:2,361 Points:471,755 Joined:Feb 2012	Message Posted: Jan 12, 2013 7:12:30 AM Ignore farmboyTN Report Abuse Maybe the price will lower at the pump, but I doubt it.
mike1881 Champion Author Fayetteville Posts:1,432 Points:591,150 Joined:Feb 2011	Message Posted: Jan 12, 2013 7:03:57 AM Ignore mike1881 Report Abuse Let them slip. They shouldn't be allowed to trade oil on the stock market.
brbaritone Champion Author Virginia Posts:2,141 Points:1,723,145 Joined:Jan 2007	Message Posted: Jan 12, 2013 6:59:24 AM Ignore brbaritone Report Abuse The article continues: ... production might offer a glimpse of what Saudi Arabia knows — that demand is worse than the consensus perception,” said Matthew Parry, senior oil-market analyst at the International Energy Agency. There are also concerns that “today’s heightened Chinese inflationary figure limits the scope for too much additional government support,” which is likely what’s been driving the strong recent pace of Chinese oil demand growth, he said. Data Friday showed that China’s consumer prices climbed 2.5% in December from a month earlier, accelerating from a 2% increase in the preceding month. “The oil market shook off some China good feelings when the CPI came out much hotter than expected,” said Phil Flynn, senior market analyst at Price Futures Group in Chicago. “While hot inflation may lower China’s quest for looser monetary policy, in truth, at this point, the sharp increase should be transitory.” Meanwhile, Andrey Kryuchenkov, commodity analyst at VTB Capital, said the oil market overreacted Thursday to the preliminary December estimates from Gulf officials. “Sure, Saudi production most likely declined in December, but we would not be overly concerned unless the trend were sustained into [the first quarter of 2013],” he said in a note.