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GasBuddy News Article

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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.


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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
honda0105
Champion Author Tallahassee

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Message Posted: Jun 16, 2012 8:26:39 AM

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

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Message Posted: Jun 15, 2012 5:02:45 AM

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

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Message Posted: Jun 13, 2012 12:20:51 PM

Thank you for posting.
kgbellman
Champion Author Ann Arbor

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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
Tomeboy
Champion Author Twin Cities

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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.
carloco75
Champion Author Richmond

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Message Posted: Jun 12, 2012 11:51:57 PM

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

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Message Posted: Jun 12, 2012 11:28:01 PM

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

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Message Posted: Jun 12, 2012 11:08:17 PM

Keep dropping!
us4usa
Champion Author Missouri

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Message Posted: Jun 12, 2012 11:04:33 PM

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

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Message Posted: Jun 12, 2012 11:03:33 PM

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

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Message Posted: Jun 12, 2012 11:01:36 PM

Well said wz.
carloco75
Champion Author Richmond

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Message Posted: Jun 12, 2012 10:59:39 PM

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

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Message Posted: Jun 12, 2012 10:50:13 PM

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

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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.
mstearno
Champion Author Dayton

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Message Posted: Jun 12, 2012 10:48:30 PM

too late
khrisplex
Rookie Author Fort Worth

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Message Posted: Jun 12, 2012 10:46:22 PM

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

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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.
bbreff
Champion Author Atlanta

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Message Posted: Jun 12, 2012 10:32:57 PM



As long as they retreat, I am for it.

kcboy
Champion Author Utah

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Message Posted: Jun 12, 2012 10:32:51 PM

ok
big_mac64
Champion Author Tennessee

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Message Posted: Jun 12, 2012 10:31:42 PM

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

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Message Posted: Jun 12, 2012 10:30:34 PM

Not around here.
abcdMA
Champion Author Worcester

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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
IUVidiot
Champion Author Indiana

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Message Posted: Jun 12, 2012 10:27:51 PM

ok
rpr77
Champion Author Philadelphia

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Message Posted: Jun 12, 2012 10:27:12 PM

Ok
SparkieMi
Champion Author Kalamazoo

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Message Posted: Jun 12, 2012 10:25:36 PM

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

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Message Posted: Jun 12, 2012 10:24:44 PM

ok
LeeFree
Champion Author Pittsburgh

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Message Posted: Jun 12, 2012 10:24:18 PM

The usual analyst blathering.
TekWare
Champion Author Toronto

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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.
bif65
Champion Author Virginia

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Message Posted: Jun 12, 2012 10:18:42 PM

ok
GRUMPY55
Champion Author California

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Message Posted: Jun 12, 2012 10:16:18 PM

ok
3mta3
Champion Author Michigan

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Message Posted: Jun 12, 2012 10:15:18 PM

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

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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.
Hewy67
Sophomore Author Grand Rapids

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Message Posted: Jun 12, 2012 10:13:45 PM

my boss is so full of it
OGW
Champion Author London

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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!
97beater
Veteran Author Madison

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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.
wayoung56
Champion Author Alabama

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Message Posted: Jun 12, 2012 10:08:35 PM

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

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Message Posted: Jun 12, 2012 10:08:06 PM

Nice job Aviator Rob
Taurus1
Champion Author Ohio

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Message Posted: Jun 12, 2012 10:07:37 PM

ok
charladan
Champion Author Virginia

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Message Posted: Jun 12, 2012 10:04:07 PM

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

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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.
Aviator_Rob
Champion Author New York

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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.
WIPACKERFAN
Champion Author Chicago

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Message Posted: Jun 12, 2012 9:59:01 PM

Keep 'r running down.
TedNC
Champion Author North Carolina

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Message Posted: Jun 12, 2012 9:54:59 PM

Let it keep on dropping.
itsjustme719
Champion Author Hamilton

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Message Posted: Jun 12, 2012 9:54:29 PM

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

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Message Posted: Jun 12, 2012 9:50:14 PM

Speculators will adapt.
Greed Rules
jackster111
Champion Author North Carolina

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Message Posted: Jun 12, 2012 9:49:18 PM

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

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Message Posted: Jun 12, 2012 9:49:16 PM

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

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Message Posted: Jun 12, 2012 9:48:52 PM

steady here
skyking19
Champion Author Little Rock

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Message Posted: Jun 12, 2012 9:46:26 PM

Still holding steady in our area.
weenerdog
Champion Author Detroit

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Message Posted: Jun 12, 2012 9:44:55 PM

gas went up 20 cents today, really?
OOXXFF
Champion Author Greensboro

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Message Posted: Jun 12, 2012 9:44:48 PM

Prices are going up in Dayton, OH.
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