Not Logged In Log In   Sign Up   Points Leaders
Follow Us    1:43 PM

GasBuddy News Article

42
votes
Energy prices retreat before world economy woes

Oil & Gas Journal -- Energy prices declined across the board June 7 with the front-month crude contract dropping fractionally to just under $85/bbl in the New York futures market while natural gas fell 6% following a bearish government report on US inventory.

“The broader markets rallied after China's central bank lowered its benchmark lending rate but failed to sustain momentum as they considered the low likelihood of any useful legislation passing through Congress with lawmakers engaged in daily fistfights (metaphorically, at least for now),” said analysts in the Houston office of Raymond James & Associates Inc.

James Zhang at Standard New York Securities Inc., the Standard Bank Group, said, “Oil staged a strong rally during intraday trading but settled at a small loss.


Read the Full Article

Submitted Jun 12, 2012 By: GasPasserAB
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Energy prices retreat before world economy woes Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,175
Points:2,258,765
Joined:Nov 2008
Message Posted: Jun 16, 2012 8:26:39 AM

I guess Pig Oil's mouthpiece says, more trouble ahead?
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,175
Points:2,258,765
Joined:Nov 2008
Message Posted: Jun 15, 2012 5:02:45 AM

too many fires around the globe for specutraitors to feel confident.
Profile Pic
sparky808
Champion Author Honolulu

Posts:5,511
Points:1,223,355
Joined:Sep 2011
Message Posted: Jun 13, 2012 12:20:51 PM

Thank you for posting.
Profile Pic
kgbellman
Champion Author Ann Arbor

Posts:5,439
Points:1,379,075
Joined:Mar 2011
Message Posted: Jun 13, 2012 12:55:04 AM

Hmm - it's rising here. That would at least be somewhat bearable if economy was getting better
Profile Pic
Tomeboy
Champion Author Twin Cities

Posts:6,546
Points:1,206,590
Joined:Apr 2009
Message Posted: Jun 13, 2012 12:19:06 AM


Presumably, no one would call President George W. Bush unfriendly to the oil industry. Yet the price of gasoline rose steadily during most of his administration. In February 2001, just after Mr. Bush took office, the average price of regular gasoline was $1.45 a gallon. By June 2008, that price had risen to $4.05. Still think presidents and oil-friendly policies can determine oil prices?

It’s true that by the end of the Bush presidency, prices had fallen back to $1.69, as oil prices plummeted with the rest of the global economy. But I think we can all agree that a global financial crisis is too high a price to pay for cheap gasoline.
Profile Pic
carloco75
Champion Author Richmond

Posts:6,431
Points:1,227,940
Joined:Oct 2010
Message Posted: Jun 12, 2012 11:51:57 PM

http://pure-gas.org/
Profile Pic
wiwhite87
Champion Author Milwaukee

Posts:2,612
Points:760,755
Joined:May 2009
Message Posted: Jun 12, 2012 11:28:01 PM

Why would people cheer for the economy to keep dropping.
Profile Pic
pgerassi
Champion Author Milwaukee

Posts:13,660
Points:2,778,495
Joined:Apr 2007
Message Posted: Jun 12, 2012 11:08:17 PM

Keep dropping!
Profile Pic
us4usa
Champion Author Missouri

Posts:7,102
Points:1,509,415
Joined:May 2008
Message Posted: Jun 12, 2012 11:04:33 PM

Gas prices up 4 cents in town today, $3.21 a gallon now...
Profile Pic
Harry813
Champion Author Iowa

Posts:4,724
Points:1,246,995
Joined:Jul 2011
Message Posted: Jun 12, 2012 11:03:33 PM

I just don't get it ?
Profile Pic
jrschl
Champion Author Louisville

Posts:5,714
Points:1,329,240
Joined:Jun 2011
Message Posted: Jun 12, 2012 11:01:36 PM

Well said wz.
Profile Pic
carloco75
Champion Author Richmond

Posts:6,431
Points:1,227,940
Joined:Oct 2010
Message Posted: Jun 12, 2012 10:59:39 PM

Just in the "nick of time"...
Profile Pic
Beaveronparade
Champion Author Hartford

Posts:3,403
Points:1,242,885
Joined:Mar 2011
Message Posted: Jun 12, 2012 10:50:13 PM

I'm not seeing that here in CT!
Profile Pic
wz
Champion Author Twin Cities

Posts:5,199
Points:1,925,070
Joined:Feb 2009
Message Posted: Jun 12, 2012 10:48:38 PM

If the economy is in the tank, oil prices remain low. When the economy shows signs of recovery, oil prices jump and put a damper on it. There is no easy way out.
Profile Pic
mstearno
Champion Author Dayton

Posts:9,545
Points:2,264,550
Joined:Jan 2008
Message Posted: Jun 12, 2012 10:48:30 PM

too late
Profile Pic
khrisplex
Rookie Author Fort Worth

Posts:56
Points:13,620
Joined:Jan 2009
Message Posted: Jun 12, 2012 10:46:22 PM

the more we can save, the better
Profile Pic
Wierbe
Champion Author Cincinnati

Posts:6,416
Points:1,755,395
Joined:Apr 2006
Message Posted: Jun 12, 2012 10:45:30 PM

My salary has increased for the past 40 years and I'm still just keeping up.
Profile Pic
bbreff
Champion Author Atlanta

Posts:12,564
Points:3,212,555
Joined:Jun 2005
Message Posted: Jun 12, 2012 10:32:57 PM



As long as they retreat, I am for it.

Profile Pic
kcboy
Champion Author Utah

Posts:5,943
Points:1,985,390
Joined:Jun 2005
Message Posted: Jun 12, 2012 10:32:51 PM

ok
Profile Pic
big_mac64
Champion Author Tennessee

Posts:11,252
Points:1,686,945
Joined:May 2005
Message Posted: Jun 12, 2012 10:31:42 PM

declined across the board June 7???? Old news!
Profile Pic
2khawk
Champion Author Iowa

Posts:8,139
Points:1,576,905
Joined:Oct 2010
Message Posted: Jun 12, 2012 10:30:34 PM

Not around here.
Profile Pic
abcdMA
Champion Author Worcester

Posts:10,622
Points:2,209,990
Joined:Nov 2008
Message Posted: Jun 12, 2012 10:29:17 PM

notice that prices are coming down because of the world--
NOT any action by the administration
Profile Pic
IUVidiot
Champion Author Indiana

Posts:6,346
Points:1,356,685
Joined:Jun 2011
Message Posted: Jun 12, 2012 10:27:51 PM

ok
Profile Pic
rpr77
Champion Author Philadelphia

Posts:6,737
Points:1,415,270
Joined:Mar 2011
Message Posted: Jun 12, 2012 10:27:12 PM

Ok
Profile Pic
SparkieMi
Champion Author Kalamazoo

Posts:5,863
Points:1,217,830
Joined:Sep 2011
Message Posted: Jun 12, 2012 10:25:36 PM

Pump prices still too high!!!!!
Profile Pic
iamforiu
Champion Author Indiana

Posts:6,339
Points:1,359,215
Joined:May 2011
Message Posted: Jun 12, 2012 10:24:44 PM

ok
Profile Pic
LeeFree
Champion Author Pittsburgh

Posts:11,858
Points:2,883,125
Joined:Jun 2005
Message Posted: Jun 12, 2012 10:24:18 PM

The usual analyst blathering.
Profile Pic
TekWare
Champion Author Toronto

Posts:5,915
Points:1,321,850
Joined:May 2011
Message Posted: Jun 12, 2012 10:21:43 PM

I'm not seeing a break, but not to worry, if the figure out we're not completely bankrupt, they'll raise the prices fast enough.
Profile Pic
bif65
Champion Author Virginia

Posts:1,423
Points:315,075
Joined:Jan 2011
Message Posted: Jun 12, 2012 10:18:42 PM

ok
Profile Pic
GRUMPY55
Champion Author California

Posts:3,149
Points:966,750
Joined:Oct 2011
Message Posted: Jun 12, 2012 10:16:18 PM

ok
Profile Pic
3mta3
Champion Author Michigan

Posts:1,620
Points:1,491,840
Joined:Jul 2004
Message Posted: Jun 12, 2012 10:15:18 PM

Going lower... Where? Not here. We're all getting screwed, and without a reach around.
Profile Pic
suzmar
Champion Author Texas

Posts:3,497
Points:1,392,915
Joined:Jun 2006
Message Posted: Jun 12, 2012 10:13:51 PM

Of course I can blame Mr. Obama for both high prices and a bad economy. Energy prices are much higher than the bad economy warrants because of the administrations policies and regulations.
Profile Pic
Hewy67
Sophomore Author Grand Rapids

Posts:161
Points:448,220
Joined:Apr 2008
Message Posted: Jun 12, 2012 10:13:45 PM

my boss is so full of it
Profile Pic
OGW
Champion Author London

Posts:7,074
Points:2,096,540
Joined:Sep 2005
Message Posted: Jun 12, 2012 10:12:28 PM

Should be going lower still but the economy will not improve if the republicans have their way!
Profile Pic
97beater
Veteran Author Madison

Posts:261
Points:433,325
Joined:May 2011
Message Posted: Jun 12, 2012 10:09:44 PM

but what about the profits for those poor oil companies? they might need a government bailout.
Profile Pic
wayoung56
Champion Author Alabama

Posts:5,420
Points:1,449,435
Joined:Oct 2006
Message Posted: Jun 12, 2012 10:08:35 PM

I hope it keeps coming down...
Profile Pic
mwo
Champion Author Twin Cities

Posts:1,817
Points:1,662,065
Joined:Aug 2004
Message Posted: Jun 12, 2012 10:08:06 PM

Nice job Aviator Rob
Profile Pic
Taurus1
Champion Author Ohio

Posts:5,292
Points:2,217,905
Joined:Apr 2006
Message Posted: Jun 12, 2012 10:07:37 PM

ok
Profile Pic
charladan
Champion Author Virginia

Posts:1,071
Points:824,935
Joined:Jun 2011
Message Posted: Jun 12, 2012 10:04:07 PM

Prices are still decreasing in Virginia. Yahoooooo!!
Profile Pic
Aviator_Rob
Champion Author New York

Posts:6,939
Points:1,046,845
Joined:Mar 2012
Message Posted: Jun 12, 2012 10:03:09 PM

Just so you understand basic economics, waynemustang. You can't blame Obama for BOTH high gas prices AND the recession.

Recessions cause gas prices to fall as demand falls, therefore it's impossible for the President to be responsible for both.
Profile Pic
Aviator_Rob
Champion Author New York

Posts:6,939
Points:1,046,845
Joined:Mar 2012
Message Posted: Jun 12, 2012 10:00:11 PM

Mind telling us exactly what our government is doing to the American people, buzzieNY?

Just so we're all on the same page.
Profile Pic
WIPACKERFAN
Champion Author Chicago

Posts:11,544
Points:2,489,480
Joined:Aug 2005
Message Posted: Jun 12, 2012 9:59:01 PM

Keep 'r running down.
Profile Pic
TedNC
Champion Author North Carolina

Posts:1,469
Points:321,840
Joined:May 2011
Message Posted: Jun 12, 2012 9:54:59 PM

Let it keep on dropping.
Profile Pic
itsjustme719
Champion Author Hamilton

Posts:2,256
Points:1,183,385
Joined:Dec 2010
Message Posted: Jun 12, 2012 9:54:29 PM

Agree with adr47. Speculators will find a way, because greed rules.
Profile Pic
adr47
Champion Author Saskatchewan

Posts:5,667
Points:1,391,400
Joined:Nov 2008
Message Posted: Jun 12, 2012 9:50:14 PM

Speculators will adapt.
Greed Rules
Profile Pic
jackster111
Champion Author North Carolina

Posts:7,542
Points:1,034,775
Joined:Feb 2012
Message Posted: Jun 12, 2012 9:49:18 PM

Some pumps rose here in NC today. and then some stayed the same.
Profile Pic
js0743
All-Star Author Georgia

Posts:981
Points:635,780
Joined:Nov 2011
Message Posted: Jun 12, 2012 9:49:16 PM

The decline in prices has slowed to a crawl here.
Profile Pic
commins
Champion Author Riverside

Posts:3,294
Points:1,493,555
Joined:Feb 2009
Message Posted: Jun 12, 2012 9:48:52 PM

steady here
Profile Pic
skyking19
Champion Author Little Rock

Posts:2,733
Points:2,204,735
Joined:Jan 2007
Message Posted: Jun 12, 2012 9:46:26 PM

Still holding steady in our area.
Profile Pic
weenerdog
Champion Author Detroit

Posts:10,648
Points:2,449,740
Joined:Jan 2008
Message Posted: Jun 12, 2012 9:44:55 PM

gas went up 20 cents today, really?
Post a reply Back to Topics