GasBuddy News Article

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Crummy Day For Crude Oil

Forbes.com -- The energy pits were a gauntlet Friday, as a stronger dollar put a dent in crude prices and oil stocks followed black gold lower.

Crude settled at $80.68 a barrel on the New York Mercantile Exchange, down 1.9% after a run-up earlier this week when prices approached $84 a barrel. Traders have been hoping that growth in emerging markets like China and India could help the commodity continue its surge off its February 2009 lows, but tighter monetary policy in those nations threatens to cool their economic growth.

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Submitted Mar 20, 2010 By: OnTheWater

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Lengas Champion Author Gary Posts:8,382 Points:1,740,150 Joined:Nov 2004	Message Posted: Mar 20, 2010 10:14:33 AM Ignore Lengas Report Abuse Get rid of the speculators
CSharpGuy Champion Author Colorado Springs Posts:4,559 Points:925,660 Joined:Jan 2008	Message Posted: Mar 20, 2010 10:14:14 AM Ignore CSharpGuy Report Abuse It will be a good day when the US drills for its own oil and doesn't let the Russians drill for oil in the Gulf of Mexico.
jb107 Champion Author New Jersey Posts:4,689 Points:1,645,940 Joined:Sep 2005	Message Posted: Mar 20, 2010 10:12:21 AM Ignore jb107 Report Abuse Crummy day for oil, good day for us.
yukonjack Champion Author Georgia Posts:4,394 Points:1,140,195 Joined:Oct 2004	Message Posted: Mar 20, 2010 10:09:30 AM Ignore yukonjack Report Abuse eddyp94... my sentiments exactly.
jayrad1957 Champion Author Los Angeles Posts:7,705 Points:622,240 Joined:Nov 2008	Message Posted: Mar 20, 2010 10:09:22 AM Ignore jayrad1957 Report Abuse Poor babies. WAH WAH WAH.............
indyjim Champion Author Indianapolis Posts:4,758 Points:1,348,695 Joined:Jul 2006	Message Posted: Mar 20, 2010 10:09:10 AM Ignore indyjim Report Abuse "Traders have been hoping".................If Congress would outlaw the trading of commodities and Obama would stop printing money, the dollar would continue to strengthen and this great nation would regain its position as a world financial leader.
maske_2222 Champion Author Manitoba Posts:3,118 Points:646,165 Joined:Oct 2008	Message Posted: Mar 20, 2010 10:08:19 AM Ignore maske_2222 Report Abuse Wait untill summer.....
jdhelm Champion Author Iowa Posts:1,404 Points:222,315 Joined:Dec 2009	Message Posted: Mar 20, 2010 10:07:39 AM Ignore jdhelm Report Abuse If the traders and speculators on the CBOE and NYME make money in up and down markets - too bad they don't have a concious and somehow drive the oil price down. The Saudis have made billions, they can live with $38 dollar oil, they don't need $80-$100 oil.
LareBear09 Rookie Author Orange County Posts:35 Points:138,025 Joined:Dec 2008	Message Posted: Mar 20, 2010 10:07:36 AM Ignore LareBear09 Report Abuse With slacking demand there is no reason for oil to be above $70 / barrel anyway.
eddyp94 Champion Author Ontario Posts:4,166 Points:870,410 Joined:Mar 2008	Message Posted: Mar 20, 2010 10:07:18 AM Ignore eddyp94 Report Abuse who thinks of this stuff....
Ticoman54 Champion Author Miami Posts:2,606 Points:585,220 Joined:Oct 2008	Message Posted: Mar 20, 2010 10:07:00 AM Ignore Ticoman54 Report Abuse An extremely overpriced commodity robbing the masses blind.
hauler43 Champion Author Oakland Posts:4,819 Points:1,855,580 Joined:Sep 2003	Message Posted: Mar 20, 2010 10:04:25 AM Ignore hauler43 Report Abuse Lets have to different prices for oil, China and India pay the top tier and the US and everyone else pays less.
Zuman Champion Author New York Posts:1,499 Points:963,090 Joined:May 2005	Message Posted: Mar 20, 2010 10:03:30 AM Ignore Zuman Report Abuse Oh too bad.
mackconsult Champion Author Portland Posts:1,265 Points:268,655 Joined:Jan 2009	Message Posted: Mar 20, 2010 10:03:25 AM Ignore mackconsult Report Abuse Summer is coming, it will rebound
gasman50 Champion Author Portland Posts:3,919 Points:1,435,875 Joined:Nov 2005	Message Posted: Mar 20, 2010 10:01:03 AM Ignore gasman50 Report Abuse Down baby, down
ssect8 Champion Author Hartford Posts:3,092 Points:1,222,125 Joined:Jun 2006	Message Posted: Mar 20, 2010 10:00:17 AM Ignore ssect8 Report Abuse I would hope that every day would be a crummy day for crude oil.
Badmoon Champion Author Massachusetts Posts:3,346 Points:676,040 Joined:Oct 2008	Message Posted: Mar 20, 2010 10:00:05 AM Ignore Badmoon Report Abuse Slower growth everywhere.
EludiumQ36 Rookie Author Virginia Posts:59 Points:100,060 Joined:Nov 2008	Message Posted: Mar 20, 2010 9:58:39 AM Ignore EludiumQ36 Report Abuse See no tears from me, especially as gasoline prices continuing to rise. If crude fell to $20/bbl Exxon et al would still make huge profits.
DWME Champion Author Indiana Posts:1,113 Points:215,775 Joined:Aug 2009	Message Posted: Mar 20, 2010 9:57:56 AM Ignore DWME Report Abuse Great for prices. I agree with previous posters on the fragility of the dollar and the danger of devaluation and inflated oil prices as a result.
my2002m Champion Author Tulsa Posts:1,332 Points:700,665 Joined:Jul 2008	Message Posted: Mar 20, 2010 9:50:46 AM Ignore my2002m Report Abuse If we cannot control our deficits then our dollar will become highly devalued and prices will skyrocket.
kyrunner Champion Author Lexington Posts:3,926 Points:724,735 Joined:Aug 2008	Message Posted: Mar 20, 2010 9:50:26 AM Ignore kyrunner Report Abuse Sounds like consumers need crude oil to have MANY more crummy days. Let those traders stew in their own oil. As long as oil continues to go up we can see our economy flounder or fall further.
westover Champion Author New Jersey Posts:8,487 Points:1,671,865 Joined:Nov 2005	Message Posted: Mar 20, 2010 9:50:10 AM Ignore westover Report Abuse the dent should be a bigger one
Gassed01 Champion Author Toronto Posts:1,741 Points:849,650 Joined:Jan 2006	Message Posted: Mar 20, 2010 9:49:07 AM Ignore Gassed01 Report Abuse Getting tired of reading why some expert thinks it is up one day, and why another expert thinks it will be down another day.
Cachase1 Champion Author Oklahoma City Posts:6,453 Points:1,401,730 Joined:Aug 2003	Message Posted: Mar 20, 2010 9:45:24 AM Ignore Cachase1 Report Abuse Oil was up and as a result all other stocks fell. Like I have said before, with high energy prices, the economy can never recover.
beachbumCA Champion Author Riverside Posts:4,064 Points:766,525 Joined:May 2008	Message Posted: Mar 20, 2010 9:42:02 AM Ignore beachbumCA Report Abuse Give the government time, the dollar will soon be junk.
BillHeatherL Champion Author Alberta Posts:2,772 Points:982,135 Joined:Apr 2007	Message Posted: Mar 20, 2010 9:40:31 AM Ignore BillHeatherL Report Abuse they will find another way of pushing prices up
Zonk Champion Author Michigan Posts:1,578 Points:1,149,640 Joined:Oct 2005	Message Posted: Mar 20, 2010 9:38:32 AM Ignore Zonk Report Abuse With obama as chief, the US dollar won't be strong for years to come.
JimL1 Champion Author Phoenix Posts:3,138 Points:386,220 Joined:Jul 2003	Message Posted: Mar 20, 2010 9:37:27 AM Ignore JimL1 Report Abuse Today the SPECULATORs & MANIPULATORs have posted two more articles, in hopes of getting more amateur SPECULATORs sucked into the SPECULATOR & MANIPULATOR game. Yes, I have been tracking SPECULATOR postings on this site for weeks. The least number of articles designed to increase speculation on any one day has been two. Today it is two out of five. Experienced SPECULATORs tend to win more profits as more of those not deeply experienced in commodity speculation get into the game. It is very similar to a poker game in that respect. The new players/ SPECULATOR s normally get their clocks cleaned and the experienced players/ SPECULATOR s increase their winnings. Like I said, it is just like in poker games, suck the inexperienced in and clean their clocks or rather pockets. Does this site live up to its motto of, "Consumers working together to save on gas?” Or, does this site support speculation and manipulation of the price of gas?
captngasTN Champion Author Tennessee Posts:1,738 Points:427,150 Joined:Jun 2009	Message Posted: Mar 20, 2010 9:37:03 AM Ignore captngasTN Report Abuse let's hope for more crummy days to come
Jamer Champion Author Orange County Posts:3,977 Points:699,550 Joined:Jul 2002	Message Posted: Mar 20, 2010 9:36:23 AM Ignore Jamer Report Abuse Good, I hope the speculators lost a bundle of cash over this one.
rtw777 Champion Author Florida Posts:4,409 Points:863,975 Joined:Jan 2008	Message Posted: Mar 20, 2010 9:36:08 AM Ignore rtw777 Report Abuse I would say it was a good day for oil.
kruk Champion Author London Posts:2,843 Points:332,715 Joined:Jan 2007	Message Posted: Mar 20, 2010 9:33:03 AM Ignore kruk Report Abuse game for scambag speculators
BartBuzz Champion Author Atlanta Posts:3,928 Points:808,060 Joined:Aug 2006	Message Posted: Mar 20, 2010 9:31:20 AM Ignore BartBuzz Report Abuse @jes: Most statements are a matter of opinion. Some are just better than others :-)
CharlieC08 Champion Author Colorado Posts:3,817 Points:649,295 Joined:Oct 2008	Message Posted: Mar 20, 2010 9:29:52 AM Ignore CharlieC08 Report Abuse Won't be long now.
humblepie Champion Author Toledo Posts:7,984 Points:1,396,015 Joined:Mar 2006	Message Posted: Mar 20, 2010 9:29:20 AM Ignore humblepie Report Abuse temporary at best, look for $90 soon
lindact Champion Author New Haven Posts:4,009 Points:787,190 Joined:May 2008	Message Posted: Mar 20, 2010 9:28:03 AM Ignore lindact Report Abuse China & India are key players.
jes Champion Author Pennsylvania Posts:11,465 Points:2,397,610 Joined:Jun 2003	Message Posted: Mar 20, 2010 9:27:56 AM Ignore jes Report Abuse That statement is a matter of opinion.
Northernskys Sophomore Author Dayton Posts:182 Points:120,820 Joined:Sep 2005	Message Posted: Mar 20, 2010 9:27:55 AM Ignore Northernskys Report Abuse If it helps my budget then it is a good day for me.
bad_sailor Champion Author London Posts:2,979 Points:724,155 Joined:Dec 2007	Message Posted: Mar 20, 2010 9:27:35 AM Ignore bad_sailor Report Abuse Crude prices drop, pump prices rise. Something seems wrong about that!
jony Champion Author Florida Posts:2,948 Points:824,950 Joined:May 2006	Message Posted: Mar 20, 2010 9:27:07 AM Ignore jony Report Abuse not to worry, as long as we are addicted to oil the spectulators, OPEC, BIG OIL Corp's will continue to manipulate the price to get the maximum they can
DeepInOhio Champion Author Ohio Posts:1,939 Points:629,435 Joined:May 2008	Message Posted: Mar 20, 2010 9:25:39 AM Ignore DeepInOhio Report Abuse Crummy for whom? I dang well like a stronger US dollar!
RedRam2005 Champion Author San Antonio Posts:3,549 Points:602,350 Joined:Dec 2007	Message Posted: Mar 20, 2010 9:23:18 AM Ignore RedRam2005 Report Abuse Sounds like someones profits are being hurt. Too bad for the speculators and OPEC.
LilRedWagonIN Champion Author Indiana Posts:2,823 Points:605,105 Joined:Oct 2008	Message Posted: Mar 20, 2010 9:22:38 AM Ignore LilRedWagonIN Report Abuse Crummy day? who writes these headlines. What is great for one group is terrible for another; depends who is selling and who has to pay for it.
FlyNFool Champion Author South Carolina Posts:3,571 Points:722,320 Joined:Aug 2008	Message Posted: Mar 20, 2010 9:22:14 AM Ignore FlyNFool Report Abuse They need to have more crummy days.
Hangnail309 Champion Author Manitoba Posts:1,429 Points:758,665 Joined:Aug 2006	Message Posted: Mar 20, 2010 9:21:51 AM Ignore Hangnail309 Report Abuse aND Yet the prices at the pump will somehow still go up ...
ILVET Champion Author Illinois Posts:9,895 Points:1,962,670 Joined:Jan 2005	Message Posted: Mar 20, 2010 9:21:00 AM Ignore ILVET Report Abuse People, People!! I hope your not believing this garbage????
ronsimonil All-Star Author Illinois Posts:718 Points:152,595 Joined:Mar 2009	Message Posted: Mar 20, 2010 9:17:58 AM Ignore ronsimonil Report Abuse They wanted a world economy ...now it all has to work together. China and india are not going to carry it alone.
BartBuzz Champion Author Atlanta Posts:3,928 Points:808,060 Joined:Aug 2006	Message Posted: Mar 20, 2010 9:17:52 AM Ignore BartBuzz Report Abuse Poor, poor, pitiful speculators! I feel your pain.
Gas_Buzzer Champion Author South Carolina Posts:9,478 Points:1,701,985 Joined:Sep 2005	Message Posted: Mar 20, 2010 9:17:28 AM Ignore Gas_Buzzer Report Abuse Still way tooooooooooooo high for this fossil fuel.
Kato51 Champion Author Atlanta Posts:2,839 Points:1,275,995 Joined:Jul 2005	Message Posted: Mar 20, 2010 9:16:03 AM Ignore Kato51 Report Abuse There is no such thing as crummy day when the price of crude goes down. Oh, remember to take the price of gas with you. It went up 7 cents in my area since yesterday.
4wheel Champion Author Pittsburgh Posts:12,758 Points:1,775,195 Joined:Sep 2005	Message Posted: Mar 20, 2010 9:15:57 AM Ignore 4wheel Report Abuse $80 per barrel doesn't sound like such a "crummy day" to me!!