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Author	Topic: Oil futures cool after heady rally as dollar rises	Post a Reply Back to Topics

brbaritone Champion Author Virginia Posts:2,065 Points:1,697,875 Joined:Jan 2007	Message Posted: Jul 20, 2012 6:12:34 AM Ignore brbaritone Report Abuse Benchmark U.S. crude-oil futures gave back some gains from their seven-day climb during Asian trading hours Friday, as a rising dollar helped weigh on the oil market. Crude for August delivery traded 0.7% lower at $92.06 a barrel, down 60 cents from its $92.66 settlement on the New York Mercantile Exchange. The loss came as the U.S. dollar edged higher, with the dollar index DXY rising to 82.972 from 82.926 late Thursday in North America. Gains for the dollar tend to depress the price of dollar-denominated commodities, such as oil. Nymex crude had rallied $2.79, or 3.1%, in Thursday trade, boosted by geopolitical concerns after Israel’s Prime Minister Benjamin Netanyahu said Iran was responsible for a recent deadly terror attack aimed at Israeli tourists in Bulgaria and said Israel ... Visit MarketWatch for full article

brbaritone

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Message Posted: Jul 20, 2012 6:12:34 AM

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Benchmark U.S. crude-oil futures gave back some gains from their seven-day climb during Asian trading hours Friday, as a rising dollar helped weigh on the oil market.

Crude for August delivery traded 0.7% lower at $92.06 a barrel, down 60 cents from its $92.66 settlement on the New York Mercantile Exchange.

The loss came as the U.S. dollar edged higher, with the dollar index DXY rising to 82.972 from 82.926 late Thursday in North America. Gains for the dollar tend to depress the price of dollar-denominated commodities, such as oil.

Nymex crude had rallied $2.79, or 3.1%, in Thursday trade, boosted by geopolitical concerns after Israel’s Prime Minister Benjamin Netanyahu said Iran was responsible for a recent deadly terror attack aimed at Israeli tourists in Bulgaria and said Israel ...
Visit MarketWatch for full article

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DerHahn Champion Author Illinois Posts:13,709 Points:2,114,135 Joined:May 2004	Message Posted: Jul 21, 2012 10:49:35 AM Ignore DerHahn Report Abuse too bad the gasoline futures didn't cool as well before reaching current pricing. will be watching to see what happens to local pump prices on monday.
DanMtz Champion Author Oakland Posts:3,350 Points:1,242,350 Joined:Oct 2009	Message Posted: Jul 21, 2012 10:05:02 AM Ignore DanMtz Report Abuse Maybe the economy's not dead after all.
MidNJ Champion Author New Jersey Posts:7,554 Points:1,172,595 Joined:Sep 2009	Message Posted: Jul 20, 2012 7:42:55 PM Ignore MidNJ Report Abuse It is amazing how as soon as the price of oil goes up a few dollars a barrel prices at the pump immediately go up by leaps and bounds, but when the oil price comes down a few dollars just as quickly the price at the pump still lingers on at high prices.
PathfinderSC Champion Author South Carolina Posts:9,516 Points:1,830,640 Joined:Mar 2008	Message Posted: Jul 20, 2012 5:34:04 PM Ignore PathfinderSC Report Abuse Oil is still to high, Greed it trying push it up
Night Owl Champion Author Toronto Posts:7,550 Points:1,786,600 Joined:Jul 2004	Message Posted: Jul 20, 2012 4:07:59 PM Ignore Night Owl Report Abuse Traders need to be banned from even looking at oil futures. We need to get back to the laws of supply and demand controlling oil prices.
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Jul 20, 2012 2:38:17 PM Ignore dh0770 Report Abuse In a real market these forces would work, but in this colluded, manipulated thing called wall street, it doesn't matter what the truth and facts are!
Jeff4U Champion Author Atlanta Posts:8,749 Points:1,852,145 Joined:Nov 2004	Message Posted: Jul 20, 2012 11:43:55 AM Ignore Jeff4U Report Abuse Crude is now at $91.00 Wholesale gas is at $2.90 (you can expect $3.40 or more at the pump)
58salty Champion Author Jacksonville Posts:6,614 Points:629,890 Joined:Aug 2011	Message Posted: Jul 20, 2012 10:48:26 AM Ignore 58salty Report Abuse Still too high at the pump.
investmentdr Champion Author Cleveland Posts:4,029 Points:1,455,050 Joined:Sep 2008	Message Posted: Jul 20, 2012 10:24:13 AM Ignore investmentdr Report Abuse -1.5% now
knutzAL Champion Author Alabama Posts:2,248 Points:372,680 Joined:Feb 2012	Message Posted: Jul 20, 2012 9:51:59 AM Ignore knutzAL Report Abuse Its the dollar!
amerk73 Champion Author Dallas Posts:7,046 Points:1,621,000 Joined:Oct 2008	Message Posted: Jul 20, 2012 9:36:08 AM Ignore amerk73 Report Abuse WTI Crude Oil now at $90.96
bigmoo63 Champion Author Kalamazoo Posts:1,275 Points:83,105 Joined:Nov 2009	Message Posted: Jul 20, 2012 9:26:31 AM Ignore bigmoo63 Report Abuse Once again, no rhyme or reason for this. Guess its hard to price something that doesnt really exist at this time.
molebaby96 Champion Author Tallahassee Posts:2,121 Points:505,165 Joined:Nov 2011	Message Posted: Jul 20, 2012 8:34:11 AM Ignore molebaby96 Report Abuse Prices needs to go down at the pump.
Luckylindy Champion Author Milwaukee Posts:4,514 Points:1,127,070 Joined:May 2008	Message Posted: Jul 20, 2012 8:26:23 AM Ignore Luckylindy Report Abuse Good keep it down.
Xavier80 Champion Author Victoria Posts:1,773 Points:377,465 Joined:Apr 2012	Message Posted: Jul 20, 2012 7:38:04 AM Ignore Xavier80 Report Abuse That's good
scu227 Champion Author New Haven Posts:4,152 Points:771,880 Joined:Feb 2011	Message Posted: Jul 20, 2012 7:33:10 AM Ignore scu227 Report Abuse Will the pump prices drop today at the pump? When the futures go up the pump prices increase almost immediately, why don't they drop the same way?
BEGTWO Champion Author Maryland Posts:1,937 Points:723,315 Joined:Sep 2010	Message Posted: Jul 20, 2012 7:27:25 AM Ignore BEGTWO Report Abuse GOOD
Point__man Champion Author Raleigh Posts:4,330 Points:876,720 Joined:Oct 2010	Message Posted: Jul 20, 2012 7:27:23 AM Ignore Point__man Report Abuse up, down, all around; will it ever stabilize again or is this new Global Market just too big too handle ? Maybe isolationism wasn't so bad after all. We were prosperous during those times w/o all these global trade agreements. Seems Global Trading cost us jobs and tanked our economy ;)
Evilmaddog Champion Author British Columbia Posts:3,322 Points:957,550 Joined:Aug 2010	Message Posted: Jul 20, 2012 7:26:58 AM Ignore Evilmaddog Report Abuse blah,blah
derKraut Champion Author Ontario Posts:2,095 Points:1,227,625 Joined:Dec 2008	Message Posted: Jul 20, 2012 7:26:36 AM Ignore derKraut Report Abuse Good direction but the speculators will look for other reason to raise them again. Criminals.
stonecold5005 All-Star Author Waco Posts:817 Points:20,240 Joined:Mar 2012	Message Posted: Jul 20, 2012 7:26:12 AM Ignore stonecold5005 Report Abuse ok
humblepie Champion Author Toledo Posts:34,209 Points:2,371,370 Joined:Mar 2006	Message Posted: Jul 20, 2012 7:25:22 AM Ignore humblepie Report Abuse inflation is rearing its ugly head
TomT2Lee Champion Author Cincinnati Posts:5,357 Points:1,597,230 Joined:Sep 2005	Message Posted: Jul 20, 2012 7:15:19 AM Ignore TomT2Lee Report Abuse Fundamentally, the global economy is a train wreck. Politically it is worse. We are in for some extremely painful times.
Zeke33 Champion Author New Hampshire Posts:5,574 Points:1,615,230 Joined:Sep 2005	Message Posted: Jul 20, 2012 7:12:02 AM Ignore Zeke33 Report Abuse Only a short relief in the upward travel as price ratchet up....again.
lcleveland Champion Author San Antonio Posts:2,661 Points:651,050 Joined:May 2011	Message Posted: Jul 20, 2012 7:07:43 AM Ignore lcleveland Report Abuse ok
cee68 Veteran Author Arizona Posts:434 Points:509,285 Joined:Jan 2011	Message Posted: Jul 20, 2012 7:04:41 AM Ignore cee68 Report Abuse ok
JohnofGB Champion Author Flint Posts:5,421 Points:1,096,195 Joined:Feb 2010	Message Posted: Jul 20, 2012 6:59:28 AM Ignore JohnofGB Report Abuse No shortage but prices are rising................again.
TheMeltz Champion Author Maryland Posts:2,169 Points:640,975 Joined:Feb 2009	Message Posted: Jul 20, 2012 6:58:27 AM Ignore TheMeltz Report Abuse ok
GingoutMD Champion Author Maryland Posts:3,495 Points:713,305 Joined:Jan 2010	Message Posted: Jul 20, 2012 6:54:50 AM Ignore GingoutMD Report Abuse I'm glad the US dollar is trading higher overseas, but it sucks that it impacts the price of oil futures.
grandpadon28110 Champion Author Charlotte Posts:4,716 Points:1,142,310 Joined:Sep 2008	Message Posted: Jul 20, 2012 6:53:40 AM Ignore grandpadon28110 Report Abuse Go dollar.
gasmad666 Champion Author Illinois Posts:1,833 Points:391,620 Joined:Mar 2012	Message Posted: Jul 20, 2012 6:53:10 AM Ignore gasmad666 Report Abuse ok
fjkcpa Champion Author Houston Posts:4,511 Points:602,210 Joined:Nov 2005	Message Posted: Jul 20, 2012 6:52:25 AM Ignore fjkcpa Report Abuse 2nd verse, same as the 1st...
gs7101 Champion Author San Antonio Posts:5,523 Points:387,920 Joined:Jun 2009	Message Posted: Jul 20, 2012 6:43:49 AM Ignore gs7101 Report Abuse We've all seen this happen before -- nothing new!
Wally3023 Champion Author Pennsylvania Posts:2,030 Points:540,200 Joined:Sep 2011	Message Posted: Jul 20, 2012 6:35:05 AM Ignore Wally3023 Report Abuse Sure, but the prices already spiked up a bit. How long until they trickle back down.
bkplenge Champion Author Tallahassee Posts:1,618 Points:121,850 Joined:Sep 2005	Message Posted: Jul 20, 2012 6:32:47 AM Ignore bkplenge Report Abuse Such a relief that prices are "down" to $92.06. This will really help the economy, won't it?
dorisntx Champion Author Fort Worth Posts:2,079 Points:645,855 Joined:Apr 2011	Message Posted: Jul 20, 2012 6:32:22 AM Ignore dorisntx Report Abuse whatever
humblepie Champion Author Toledo Posts:34,209 Points:2,371,370 Joined:Mar 2006	Message Posted: Jul 20, 2012 6:24:37 AM Ignore humblepie Report Abuse daytraders make money going up and going down
doeslayersr Champion Author Illinois Posts:9,116 Points:872,005 Joined:Dec 2010	Message Posted: Jul 20, 2012 6:19:49 AM Ignore doeslayersr Report Abuse Whatever. No valid reason for the rise of the dollar. Another round of quantitative easing will will further sink the dollar like a rock (and prices sky rocket as the result).
brbaritone Champion Author Virginia Posts:2,065 Points:1,697,875 Joined:Jan 2007	Message Posted: Jul 20, 2012 6:13:51 AM Ignore brbaritone Report Abuse The article continues: would respond with force. The jump marked crude futures’ seventh straight higher settlement. But those concerns appeared to ease, with Citi Futures analysts saying uncertainty over oil’s future direction has grown. “We’d suggest taking at least partial profits on any long positions and turn cautious on any new positions, as the next $5 swing could be in either direction,” they said. The oil-futures market appears to have already priced in stronger seasonal demand, less output from the Organization of the Petroleum Exporting Countries and more from non-OPEC countries, as well as a roughly 1% weakening in global demand, Citi Futures said. However, a QE3 from the U.S. Federal Reserve and military action against Iran weren’t reflected in the current price, they said.