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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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ENORMS Champion Author Colorado Posts:3,014 Points:1,171,335 Joined:Sep 2006	Message Posted: Mar 27, 2010 5:03:49 PM Ignore ENORMS Report Abuse Oh those poor speculators......
honda0105 Champion Author Tallahassee Posts:15,259 Points:1,141,225 Joined:Nov 2008	Message Posted: Mar 21, 2010 10:48:50 PM Ignore honda0105 Report Abuse up, down, down up... by the time these things even hit the electronic airwaves they're outdated by miles.
Night Owl Champion Author Toronto Posts:5,260 Points:1,332,750 Joined:Jul 2004	Message Posted: Mar 20, 2010 9:48:15 PM Ignore Night Owl Report Abuse "Crummy Day"? Obviously written by an oil speculator that only wants to see higher oil prices no matter what.
ops3 Champion Author Cincinnati Posts:1,229 Points:737,025 Joined:Dec 2007	Message Posted: Mar 20, 2010 4:16:23 PM Ignore ops3 Report Abuse Good!
ENORMS Champion Author Colorado Posts:3,014 Points:1,171,335 Joined:Sep 2006	Message Posted: Mar 20, 2010 3:02:47 PM Ignore ENORMS Report Abuse Give us consumers a break!!
skybiker Champion Author South Carolina Posts:5,481 Points:1,132,240 Joined:Jul 2008	Message Posted: Mar 20, 2010 2:32:04 PM Ignore skybiker Report Abuse I'm sure that crude oil's feelings were hurt terribly.......
cpl11787 All-Star Author Minnesota Posts:630 Points:123,275 Joined:Jan 2010	Message Posted: Mar 20, 2010 2:20:25 PM Ignore cpl11787 Report Abuse ok then, still lots of money here though.
BEngr Champion Author Illinois Posts:4,263 Points:1,115,405 Joined:May 2008	Message Posted: Mar 20, 2010 1:49:35 PM Ignore BEngr Report Abuse When crude oil goes down I have a good day. Lately I haven't had too many good days because I have watched the price of crude oil more than double in the last year and the price of gas at the pump went from $1.55 to $2.89. That means I spend more each week on gas because I drive about the same amount of miles each week and my gas mileage has stayed the same as before. I have done my part by trying to conserve gas and this has had little or no impact on the price of gas at the pump. Some factors are beyond my control, such as the weak dollar and the fact that the oil speculators keep pushing the price up.
TXGasPriceSpy Champion Author Fort Worth Posts:5,322 Points:1,010,350 Joined:Sep 2008	Message Posted: Mar 20, 2010 1:24:49 PM Ignore TXGasPriceSpy Report Abuse Hope the price of crude continues to drop.
jakTDI Champion Author Dallas Posts:3,555 Points:362,055 Joined:Aug 2008	Message Posted: Mar 20, 2010 1:23:25 PM Ignore jakTDI Report Abuse and should I ever find "them", maybe we can cry together.
pdcarver Champion Author San Diego Posts:1,289 Points:252,370 Joined:Sep 2009	Message Posted: Mar 20, 2010 1:22:02 PM Ignore pdcarver Report Abuse Still overpriced. Drill here drill now.
JoeKR Champion Author New Jersey Posts:7,243 Points:1,415,465 Joined:Feb 2006	Message Posted: Mar 20, 2010 1:21:25 PM Ignore JoeKR Report Abuse OKRifle: Perfect!
jakTDI Champion Author Dallas Posts:3,555 Points:362,055 Joined:Aug 2008	Message Posted: Mar 20, 2010 1:21:13 PM Ignore jakTDI Report Abuse no, really, I just weep as I pay almost-3-dollars per gallon...
jd2009 Champion Author Honolulu Posts:3,310 Points:1,028,425 Joined:Jan 2009	Message Posted: Mar 20, 2010 1:21:03 PM Ignore jd2009 Report Abuse Good news ... still waiting for gas prices to go down
jakTDI Champion Author Dallas Posts:3,555 Points:362,055 Joined:Aug 2008	Message Posted: Mar 20, 2010 1:20:31 PM Ignore jakTDI Report Abuse I cry for them all.
OKRifle Champion Author Oklahoma City Posts:7,595 Points:1,351,855 Joined:Oct 2007	Message Posted: Mar 20, 2010 1:20:03 PM Ignore OKRifle Report Abuse "oil pimps", the new title for Speculators!
Plebe2001 Champion Author Philadelphia Posts:2,868 Points:560,725 Joined:Jul 2008	Message Posted: Mar 20, 2010 1:19:32 PM Ignore Plebe2001 Report Abuse That is not a crummy day it is a good day when the price of crude oil goes down.
Hunter114 Champion Author Chicago Posts:5,530 Points:991,860 Joined:Apr 2009	Message Posted: Mar 20, 2010 1:17:32 PM Ignore Hunter114 Report Abuse Bad day for oil pimps is a good day for Americans.
Metro Man Champion Author Flint Posts:2,728 Points:1,199,290 Joined:Sep 2003	Message Posted: Mar 20, 2010 1:15:00 PM Ignore Metro Man Report Abuse but, they don't lower the price at the pump,
BGCowboy Veteran Author Toledo Posts:449 Points:274,170 Joined:Nov 2005	Message Posted: Mar 20, 2010 1:14:54 PM Ignore BGCowboy Report Abuse << YAWNNN >> - someone call me when it's back around $45/barrel - will ya? Maybe then I'll buy gas form a station. 'Till then, I'll use what I've cached back @ under $2.00/gallon.
Vette1967 Champion Author Albany Posts:3,654 Points:815,950 Joined:Jun 2009	Message Posted: Mar 20, 2010 1:13:48 PM Ignore Vette1967 Report Abuse Still too high.
CaliberMan71 Veteran Author Ohio Posts:422 Points:144,455 Joined:Mar 2007	Message Posted: Mar 20, 2010 1:12:13 PM Ignore CaliberMan71 Report Abuse I love this, poor oil traders :( Who gives a rats but about the poor consumers? No tears will be shed from this guy over crude prices going down.
Dipstick1 Champion Author Amarillo Posts:6,621 Points:1,759,910 Joined:Jan 2006	Message Posted: Mar 20, 2010 1:07:21 PM Ignore Dipstick1 Report Abuse Up, down, up, up.
eye-spy Champion Author Quebec Posts:2,216 Points:1,949,870 Joined:Feb 2005	Message Posted: Mar 20, 2010 1:04:42 PM Ignore eye-spy Report Abuse "AC-302" Great comment but unfortunately the oil traders don't give a "hoot" about the economy,fuel alternatives,nor anything else except themselves. The almighty dollar rules!!!
bobmcl2006 Champion Author Pittsburgh Posts:11,708 Points:1,899,440 Joined:Oct 2006	Message Posted: Mar 20, 2010 1:03:11 PM Ignore bobmcl2006 Report Abuse Would like to see $40.00!!!
PithyOpiner Champion Author Stockton Posts:12,310 Points:1,172,725 Joined:Jun 2008	Message Posted: Mar 20, 2010 12:55:52 PM Ignore PithyOpiner Report Abuse We've not seen that kind of decrease here on the west coast.
theawesome1 Champion Author Cleveland Posts:6,967 Points:1,302,310 Joined:Aug 2005	Message Posted: Mar 20, 2010 12:53:03 PM Ignore theawesome1 Report Abuse CLE gas prices are dropping today also, be $.07 - what was $2.79 is $2.72 today.
OnEmptyMO Champion Author St. Louis Posts:3,436 Points:1,043,585 Joined:Mar 2008	Message Posted: Mar 20, 2010 12:49:13 PM Ignore OnEmptyMO Report Abuse Nice to see a drop in the price of this "BLACK GOLD".
CISA Champion Author Orange County Posts:4,445 Points:1,102,150 Joined:Dec 2006	Message Posted: Mar 20, 2010 12:46:07 PM Ignore CISA Report Abuse noted
fordfan1 Champion Author Indiana Posts:6,726 Points:1,423,040 Joined:Jul 2007	Message Posted: Mar 20, 2010 12:42:57 PM Ignore fordfan1 Report Abuse And this will spell a crummy day at the pump for us consumers too!
mooneagle Champion Author Oklahoma City Posts:7,087 Points:1,292,560 Joined:Jun 2008	Message Posted: Mar 20, 2010 12:38:14 PM Ignore mooneagle Report Abuse gas still to high
DADDYBGG Champion Author Oklahoma City Posts:2,651 Points:528,565 Joined:Jul 2008	Message Posted: Mar 20, 2010 12:36:06 PM Ignore DADDYBGG Report Abuse crummy day my foot oil should be in the 60dollar range
ChuckGVT Champion Author Vermont Posts:4,368 Points:1,226,920 Joined:Apr 2008	Message Posted: Mar 20, 2010 12:35:59 PM Ignore ChuckGVT Report Abuse Still double what they should be.
snewwee Champion Author Detroit Posts:6,181 Points:1,250,000 Joined:Sep 2007	Message Posted: Mar 20, 2010 12:35:03 PM Ignore snewwee Report Abuse If only the prices were lower at the pump.
adr47 Champion Author Saskatchewan Posts:4,840 Points:1,016,830 Joined:Nov 2008	Message Posted: Mar 20, 2010 12:35:01 PM Ignore adr47 Report Abuse Speculators were do too busy counting their loot. Will be back for more next week. After all Greed Rules
HailstormCA Champion Author San Diego Posts:5,851 Points:1,073,700 Joined:Nov 2008	Message Posted: Mar 20, 2010 12:34:59 PM Ignore HailstormCA Report Abuse With prices in the 80's how can they say "crummy?" Oh, yeah! They're still not gouging us enough.
AC-302 Champion Author Los Angeles Posts:21,253 Points:2,450,715 Joined:Aug 2004	Message Posted: Mar 20, 2010 12:34:26 PM Ignore AC-302 Report Abuse Petroleum is still about $25 or so too high. I wonder if the oil traders realize that if crude oil gets too high, it will wreck the economic recovery AND force more energy alternatives. Once someone puts capital in the ground to support an alternate energy project, they won't switch back to oil.
Sam195 Champion Author San Bernardino Posts:5,750 Points:1,113,925 Joined:Oct 2008	Message Posted: Mar 20, 2010 12:34:00 PM Ignore Sam195 Report Abuse A good day for consumers.
nehemiah Champion Author Portland Posts:3,041 Points:551,690 Joined:Jul 2007	Message Posted: Mar 20, 2010 12:33:48 PM Ignore nehemiah Report Abuse still way to high
2907 Champion Author Kentucky Posts:1,525 Points:843,590 Joined:Aug 2005	Message Posted: Mar 20, 2010 12:32:38 PM Ignore 2907 Report Abuse These stories change minute to minute. why even post them?
BlueVanGroup Champion Author Colorado Posts:4,781 Points:1,069,325 Joined:May 2008	Message Posted: Mar 20, 2010 12:32:21 PM Ignore BlueVanGroup Report Abuse Those who still have money are trying to figure out how not to lose it. Concern that Greece will pull down the Euro, so if your wealth is in Euros it would lose value. Maybe the U.S. dollar won't fall as fast, so sell Euros and buy dollars. The dollar ticks up, and it takes fewer of them to buy a barrel of oil. Then when the folks in Washington do something yet again to drive down the value of the dollar, maybe sell dollars and invest in commodities, such as gold, oil, etc. The rest of us are broke, but we only still have jobs because others still have money.
Goatroper Champion Author Dallas Posts:4,673 Points:911,470 Joined:Apr 2004	Message Posted: Mar 20, 2010 12:31:52 PM Ignore Goatroper Report Abuse A crummy day for crude is a great day for the consumer.
Grismer Champion Author Kitchener-Waterloo Posts:6,258 Points:1,271,445 Joined:Apr 2008	Message Posted: Mar 20, 2010 12:31:03 PM Ignore Grismer Report Abuse China appears to have let us down. Good.
karmadrome Champion Author Wisconsin Posts:1,290 Points:417,855 Joined:Oct 2008	Message Posted: Mar 20, 2010 12:30:04 PM Ignore karmadrome Report Abuse Who cares, not like we'll see it at the pump.
balljars Champion Author Michigan Posts:6,135 Points:1,217,150 Joined:Aug 2008	Message Posted: Mar 20, 2010 12:29:43 PM Ignore balljars Report Abuse Gas edged up a bit here today.
vizilo Champion Author British Columbia Posts:4,458 Points:2,336,870 Joined:May 2004	Message Posted: Mar 20, 2010 12:29:35 PM Ignore vizilo Report Abuse Just another day
fordmexico Champion Author Michigan Posts:7,533 Points:306,750 Joined:Oct 2009	Message Posted: Mar 20, 2010 12:27:10 PM Ignore fordmexico Report Abuse A Crummy Day for Crude Oil is a GOOD DAY FOR ME! Stop Speculation Now!
Jeff1944 Champion Author South Dakota Posts:3,088 Points:677,810 Joined:Jan 2010	Message Posted: Mar 20, 2010 12:26:44 PM Ignore Jeff1944 Report Abuse Another day of speculation.
2granny Champion Author Michigan Posts:7,145 Points:998,425 Joined:Apr 2009	Message Posted: Mar 20, 2010 12:25:22 PM Ignore 2granny Report Abuse Crude down but gas prices up 22¢ in one day.
egd Champion Author Twin Cities Posts:6,053 Points:1,722,715 Joined:Mar 2005	Message Posted: Mar 20, 2010 12:21:14 PM Ignore egd Report Abuse how has the value of crude oil changed, get the changing value of dollar out of the equation