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Author Topic: Oil futures on track for fourth day of advances Back to Topics
brbaritone
Champion Author
Virginia

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Message Posted: Jun 27, 2013 6:54:54 AM

U.S. crude-oil futures rose Thursday, aiming for a fourth consecutive day of gains on calmer concerns about the tapering of monetary stimulus by the Federal Reserve.

Crude for August delivery rose 46 cents, or 0.5%, to $95.96 a barrel in electronic trade.

On Wednesday, the contract closed higher by 18 cents at $95.50 a barrel on the New York Mercantile Exchange, with oil “drawing support from a 1% advance in the S&P 500 on expectations that a downward revision to U.S. [first-quarter gross domestic product] might delay Fed plans to reduce asset purchases,” Citi Futures analyst Tim Evans told clients.

U.S. equities surged after the Commerce Department said first-quarter economic growth expanded by 1.8%, which was not as strong as its previous estimate of 2.4%.
Visit MarketWatch for full article
REPLIES (newest first) Post a Reply
52MPG
Champion Author Dayton

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Message Posted: Jun 28, 2013 9:59:43 AM

Do not gas prices usually go up on holidays.
jrs4125
Champion Author Indiana

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Message Posted: Jun 28, 2013 12:51:25 AM

Does this mean pump price will be on the rise?
streetdesign
Champion Author Illinois

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Points:1,365,310
Joined:May 2011
Message Posted: Jun 27, 2013 2:11:38 PM

I agree with the greed. You have made enough money so time to relax and give consumers a break. Thank you.
Night Owl
Champion Author Toronto

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Points:2,592,505
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Message Posted: Jun 27, 2013 1:00:04 PM

Greedy Wall Street oil speculators and their oil futures.
Jeff4U
Champion Author Atlanta

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Points:2,659,095
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Message Posted: Jun 27, 2013 10:41:20 AM

The highest inventories since 1981 are simply ignored.
If this were any other commodity - like gold, prices would have dropped like a rock.
amerk73
Champion Author Dallas

Posts:10,374
Points:2,428,370
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Message Posted: Jun 27, 2013 10:20:32 AM

WTI Crude Oil now at
$95.46
gbs1
Champion Author Minnesota

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Joined:Mar 2011
Message Posted: Jun 27, 2013 10:04:51 AM

Up and down
investmentdr
Champion Author Cleveland

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Message Posted: Jun 27, 2013 10:00:39 AM

greed, manipulation and speculation. the sky is falling
investmentdr
Champion Author Cleveland

Posts:6,726
Points:2,235,025
Joined:Sep 2008
Message Posted: Jun 27, 2013 10:00:00 AM

cumulatively the 4 day gains are minimal
dabayer
Champion Author New Hampshire

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Points:955,775
Joined:Oct 2005
Message Posted: Jun 27, 2013 9:36:35 AM

Nthing but greed, manipulation, and speculation.

Crude s/b at $75 and gasoline at $2.50 .
scu227
Champion Author New Haven

Posts:8,876
Points:1,579,180
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Message Posted: Jun 27, 2013 9:34:56 AM

Is there a legitamite reason for the prices going up, they are already way too high !!!!!
mastermariner
Champion Author Texas

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Message Posted: Jun 27, 2013 9:13:13 AM

Market
bisonjim
Champion Author Florida

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Joined:May 2012
Message Posted: Jun 27, 2013 8:39:05 AM

Goes down 1%, then goes up 2%
Bou
Champion Author Maine

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Message Posted: Jun 27, 2013 8:31:26 AM

Why up?
gypsymom3
Champion Author New Jersey

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Message Posted: Jun 27, 2013 8:20:44 AM

interesting
JerryJoeUC
Champion Author San Antonio

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Message Posted: Jun 27, 2013 8:16:55 AM

kay.
AVKZ
Champion Author Kalamazoo

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Message Posted: Jun 27, 2013 8:16:21 AM

Minor changes.
Winatgas
Champion Author Kentucky

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Message Posted: Jun 27, 2013 8:11:53 AM

Did I hear July 4th on the horizon?
humblepie
Champion Author Toledo

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Message Posted: Jun 27, 2013 8:07:03 AM

n the obama world this is almost a given
zuess28
Champion Author Allentown

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Message Posted: Jun 27, 2013 7:57:40 AM

Up and down,not getting exited just yet.
gcalleja
Champion Author Miami

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Message Posted: Jun 27, 2013 7:52:47 AM

Bummer. Wrong way!
HorizonChaser
Champion Author Montgomery

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Message Posted: Jun 27, 2013 7:52:07 AM

prices fluctuate
doeslayersr
Champion Author Illinois

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Message Posted: Jun 27, 2013 7:41:49 AM

Not good. There is no reason for it. The economy is not growing.
merlinCO
Champion Author Colorado

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Message Posted: Jun 27, 2013 7:36:19 AM

Economy good - oil up...economy bad - oil up....get the speculators that are funded by the Saudis out of the market.
BigRedVTX
Champion Author Georgia

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Points:665,535
Joined:Jun 2011
Message Posted: Jun 27, 2013 7:27:06 AM

Hold on to your wallets 'cause here it comes to your local gas retailers.
Zuegma
Champion Author Nova Scotia

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Points:1,002,880
Joined:Aug 2012
Message Posted: Jun 27, 2013 7:15:36 AM

Maybe the speculators didn't want to miss out on the "cash cow" summer pricing opportunity?
335d1
Champion Author Virginia

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Points:1,533,820
Joined:Feb 2011
Message Posted: Jun 27, 2013 7:13:17 AM

Gas prices to follow.
gs7101
Champion Author San Antonio

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Joined:Jun 2009
Message Posted: Jun 27, 2013 7:04:10 AM

This isn't surprising news!
dandvicb
Champion Author Bridgeport

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Points:1,806,030
Joined:Jul 2004
Message Posted: Jun 27, 2013 7:02:47 AM

PURE GREED & market manipulation!!

SPECULATORS!!!
brbaritone
Champion Author Virginia

Posts:4,355
Points:2,473,440
Joined:Jan 2007
Message Posted: Jun 27, 2013 6:55:41 AM

The article continues:

The report put into question the possible timing of a slowdown in bond purchases by the central bank. The S&P 500 Index SPX +0.96% rose 15 points, and the Dow Jones Industrial Average DJIA +1.02% tacked on 150 points.

Fed Chairman Ben Bernanke said last week the central bank may taper the pace of its bond purchases, currently set at $85 billion a month, as early as this year if the economy continues to improve in line with its forecasts.

Energy investors on Thursday will get a look at a report on U.S. consumer spending in May, which should provide insight on growth in the second quarter. Economists polled by MarketWatch expect consumer spending to rise 0.3%, with incomes rising a slightly lesser 0.2% in May.
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