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Author Topic: WTI Crude Fluctuates as Goldman Raises Brent Forecasts on Supply Back to Topics
brbaritone

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Virginia

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Message Posted: Aug 19, 2013 6:53:49 AM

West Texas Intermediate swung between gains and losses near a two-week high. Goldman Sachs Group Inc. raised its price forecasts for Brent crude, citing supply disruptions in Libya and Iraq.

Futures fluctuated in New York after capping the longest rising streak since April last week as unrest in Egypt fanned concern that Middle East shipments may be at risk. Defense Minister Abdelfatah al-Seesi said yesterday the military won’t allow the country to be destroyed after a week of violence left hundreds dead. Global oil inventories have “tightened substantially,” according to Goldman Sachs. U.S. refinery rates fell in the week to Aug. 9, a fourth weekly drop.

“Brent is still supported by supply disruptions and geopolitics,” Andrey Kryuchenkov, an analyst at VTB Capital in London, said in ...
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mdcsgt
Champion Author South Carolina

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Message Posted: Aug 20, 2013 1:21:55 PM

Not GOLDMAN!! IMAGINE THAT! TOOTING their own horn and generating MORE MONEY OFF SPECULATION!!!
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jrs4125
Champion Author Indiana

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Message Posted: Aug 20, 2013 6:55:38 AM

Any reason works
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Amplion
Champion Author Oregon

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Message Posted: Aug 20, 2013 12:44:57 AM

SHUT DOWN GOLDMAN SACHS!!!
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Tekkersmom57
Champion Author Syracuse

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Message Posted: Aug 19, 2013 11:54:36 PM

Goldman Sachs only wants to do what is best for their speculators!
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ObieDog
Champion Author Maryland

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Message Posted: Aug 19, 2013 9:24:12 PM

Blah blah.
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TripleHs
Champion Author Austin

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Message Posted: Aug 19, 2013 5:38:35 PM

prices have been too high
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bwatchingu
Champion Author Arkansas

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Message Posted: Aug 19, 2013 2:06:37 PM

I have a very low opinion of Goldman Sachs
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amerk73
Champion Author Dallas

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Message Posted: Aug 19, 2013 12:01:04 PM

Brent Crude Oil
$111.17
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dkp1960
Champion Author St. Louis

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Message Posted: Aug 19, 2013 10:36:08 AM

Speculators and more speculators.
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wmderrick
Champion Author Twin Cities

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Message Posted: Aug 19, 2013 9:45:24 AM

Whatever...
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RichardoB
Champion Author Fayetteville

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Message Posted: Aug 19, 2013 9:08:00 AM

These companies thrive on oil price volatility and they and the oil industry reaps the benefits. The US consumer pays the bills.
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scu227
Champion Author New Haven

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Message Posted: Aug 19, 2013 8:19:12 AM

SPECULATION, MANIPULATION and GREEEEEEEEEEEED !!!!!!!
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Shadowwarrior
Champion Author Pennsylvania

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Message Posted: Aug 19, 2013 8:13:08 AM

greedy manipulation
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Evilmaddog
Champion Author British Columbia

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Message Posted: Aug 19, 2013 8:11:29 AM

Goldman and Sheik Obama in bed together
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FPLREP
Champion Author Virginia

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Message Posted: Aug 19, 2013 8:08:09 AM

Speculative "dog-whistle".
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merlinCO
Champion Author Colorado

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Message Posted: Aug 19, 2013 8:02:52 AM

Speculators feeding the market with Saudi money.
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Eagle3236
Champion Author Missouri

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Message Posted: Aug 19, 2013 7:55:38 AM

We need to forecast building the Keystone Pipeline!
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2khawk
Champion Author Iowa

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Message Posted: Aug 19, 2013 7:52:47 AM

Investors making forcasts to drive the market should be illegal.
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humblepie
Champion Author Toledo

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Message Posted: Aug 19, 2013 7:48:14 AM

it is what it is
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bills299
Champion Author Atlanta

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Message Posted: Aug 19, 2013 7:27:33 AM

lower!
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gcalleja
Champion Author Miami

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Message Posted: Aug 19, 2013 7:17:56 AM

Use less gas, everyone!
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BigRedVTX
Champion Author Georgia

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Message Posted: Aug 19, 2013 7:11:19 AM

One way up, slow way down.
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USMCturtlehead
Champion Author Lexington

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Message Posted: Aug 19, 2013 7:10:10 AM

Higher forecasts by speculators mean higher prices at pumps.
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dabayer
Champion Author New Hampshire

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Message Posted: Aug 19, 2013 7:09:04 AM

Nothing but greedy manipulation and speculation!
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scottyiam
Champion Author Reading

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Message Posted: Aug 19, 2013 7:08:08 AM

speculators
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Buckeyee
Champion Author Maine

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Message Posted: Aug 19, 2013 7:04:34 AM

Goldman is one of the largest oil speculators & Obama supports. They also received a bailout, plus the CEO's wife was given 2 million plus GRANT to start a business. " The selling of the White House " by B. Obama.
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OHIO50
Champion Author Denver

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Message Posted: Aug 19, 2013 7:00:02 AM

OK.
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brbaritone
Champion Author Virginia

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Message Posted: Aug 19, 2013 6:55:13 AM

The article continues:

... an e-mail. The drop in U.S. refinery runs shows “summer demand is easing,” he said.

WTI for September delivery, which expires tomorrow, fell 21 cents to $107.25 a barrel in electronic trading on the New York Mercantile Exchange at 11:04 a.m. in London. It settled at $107.46 on Aug. 16, the highest close since Aug. 1. The October contract was down 33 cents to $106.96. The volume of all futures traded was about 5 percent below the 100-day average.

Brent for October settlement rose 11 cents to $110.51 a barrel on the London-based ICE Futures Europe exchange. It was at a premium of $3.55 to WTI. The spread narrowed for the first time in a week on Aug. 16 to $3.11.

Brent, the benchmark crude for more than half the world’s oil, may rise to about $115 a barrel in the “very near term,” Goldman Sachs said in a report today. It raised its three-month and six-month price projections.

“The disruptions in Libyan oil supplies have lasted far longer than we initially thought, with no near-term resolution in sight, which was further complicated by the involvement of the military,” said Jeffrey Currie, a Goldman analyst in New York. “Combined with the ongoing problems in Iraq, which we see extending into the autumn, OPEC outages since the beginning of the summer have taken 33 million barrels off the market.”
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