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Oil Rises as U.S. Consumer Confidence Improves

Bloomberg -- Oil rose for a fourth day on reports as U.S. consumer confidence improved, signaling the economy is recovering, and rising tension in the Middle East.

Futures capped a third weekly gain as the Thomson Reuters/University of Michigan consumer sentiment index beat expectations and the Conference Board’s leading economic indicators climbed more than forecast. Prices also gained as Hezbollah threatened to retaliate if Israel attacked Iran and security concern grew in Syria and Lebanon.

“The economic data are getting better,” said Jacob Correll, a Louisville, Kentucky-based analyst at Summit Energy Inc., which manages more than $20 billion in companies’ annual energy spending. “You have a lot of tension ratcheting up in the Middle East and oil’s been having a rally.”

“There is some


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Submitted Aug 19, 2012 By: bar1035
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Rises as U.S. Consumer Confidence Improves Back to Topics
REPLIES (newest first) Post a Reply
ibhenry
Champion Author San Diego

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Message Posted: Aug 20, 2012 9:10:52 AM

What a load of crap...
Night Owl
Champion Author Toronto

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Joined:Jul 2004
Message Posted: Aug 19, 2012 10:46:04 PM

Greedy oil speculators just can't stop themselves.
Van_Halen
Champion Author Atlanta

Posts:3,134
Points:1,271,725
Joined:Apr 2011
Message Posted: Aug 19, 2012 9:19:45 PM

.
Speculation has nothing to do with Oil prices. It adds $28 to the price of barrel and once that is added, speculation has absolutely nothing to do with the price. The current price of oil is due to the DOE, EPA, Obama, lack of domestic production, and lack of refineries.

And where did they find the idiot that even remotely thinks that economic data are getting better. every economic indicator is lower then its been in three years!
A2J
Champion Author Richmond

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Joined:Aug 2011
Message Posted: Aug 19, 2012 8:40:45 PM

Crazy
Agarre
Champion Author Richmond

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Joined:Feb 2012
Message Posted: Aug 19, 2012 8:21:56 PM

Too much speculations
nickatnite
Veteran Author Indianapolis

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Message Posted: Aug 19, 2012 7:55:14 PM

ok
99church
Champion Author Indiana

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Message Posted: Aug 19, 2012 6:30:45 PM

Tension has been ratcheting up in the middle east for 100's of years
ExplorerWA
Champion Author Washington

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Message Posted: Aug 19, 2012 5:56:58 PM

Middle East tension...yeah but consumer confidence? The fluoride in the water must be getting to them
Billbop
Champion Author St. Louis

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Points:1,573,280
Joined:Jun 2004
Message Posted: Aug 19, 2012 5:34:36 PM

OPEC says their "sweet spot" on prices is $75.00 a barrel which means they'd settle for $50.00. The "electronic traders" who have ZERO use for oil are "speculating" the price should be higher. If that type of speculation was made illegal, prices would drop like a rock, but a certain political party would scream "too much government" if anyone tried it.
4warned
Champion Author Michigan

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Message Posted: Aug 19, 2012 5:01:06 PM

Oil does not need a reason to go up. They just like to make it look right.
stonecold5005
All-Star Author Waco

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Joined:Mar 2012
Message Posted: Aug 19, 2012 4:51:11 PM

look out
Romey08
Champion Author Virginia

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Message Posted: Aug 19, 2012 4:48:14 PM

demand will be lower soon at the end of summer
my2002m
Champion Author Tulsa

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Message Posted: Aug 19, 2012 4:48:00 PM

Just what we need, higher prices.
PrettyLittleLady
Champion Author Modesto

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Message Posted: Aug 19, 2012 4:40:46 PM

soo.oo
fishgaro
Champion Author St. Louis

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Message Posted: Aug 19, 2012 4:40:18 PM

U.S. Consumer Confidence Improves because there hopely will be a change coming in November
Hangnail309
Champion Author Manitoba

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Message Posted: Aug 19, 2012 4:39:57 PM

The economy is recovering but the rising price of oil will counter that ...
JimL1
Champion Author Phoenix

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Message Posted: Aug 19, 2012 4:39:54 PM

Blah, blah, blah.
PTBpricer
Champion Author Virginia

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Message Posted: Aug 19, 2012 4:34:33 PM

Interesting article.

BUT, THE WRONG HEADLINE.
CPGas1815
Champion Author Michigan

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Message Posted: Aug 19, 2012 4:34:04 PM

I do not know about you but I for one do not feel confident.
bigsranch
Champion Author Houston

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Message Posted: Aug 19, 2012 4:33:44 PM

The consumer confidence numbers are cooked just liike the unemployment numbers. Obarry needs electoral votes, by hook or by crook.
skeeterbait
Veteran Author Knoxville

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Joined:May 2009
Message Posted: Aug 19, 2012 4:31:44 PM

The economy is recovering, HUH. The price of oil continuing to increase will take care of that.
nimpy
Champion Author Indianapolis

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Message Posted: Aug 19, 2012 4:30:48 PM

I certainly agree singlemom27, oil and gas should be traded on the free market
TNT2EC
Champion Author Wisconsin

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Message Posted: Aug 19, 2012 4:30:39 PM

Prices go up, prices go down...no one seems to know what is going on.
singlemom27
Champion Author Ventura

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Message Posted: Aug 19, 2012 4:27:53 PM

Speculation should be illegal
frugalking
Champion Author Twin Cities

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Message Posted: Aug 19, 2012 4:23:14 PM

I suspect that the cause is much more concern about tensions in the Middle East than confidence in our economy. For those of you living in a bubble...unemployment still sucks and things are expensive.
jimedB
Champion Author Riverside

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Joined:Jun 2012
Message Posted: Aug 19, 2012 4:19:31 PM

Any excuse to raise the price seems to do these days. What economic data are they using? The data I have seen shows such a small level of growth that it is basically flatlined.
I ususlly refrain from commenting on others posts but cmsense sounds like it has been too long since his last vacation and could use some chill time. So much hatred.
petrpuck
All-Star Author Hamilton

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Message Posted: Aug 19, 2012 4:18:55 PM

look out
DutchTreatMI
Champion Author Grand Rapids

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Message Posted: Aug 19, 2012 4:16:20 PM

I don't see U.S. Consumer Confidence so improved.
northerntruckgu
Veteran Author Ontario

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Message Posted: Aug 19, 2012 4:15:34 PM

the trouble is the sepulators
eddyp94
Champion Author Ontario

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Message Posted: Aug 19, 2012 4:13:33 PM

so what else is new...
Tenshot
All-Star Author Quad Cities

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Message Posted: Aug 19, 2012 4:12:35 PM

Vicious circle
postcard9
Champion Author Massachusetts

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Message Posted: Aug 19, 2012 4:10:25 PM

$3.72 here.
cmsense
Champion Author Columbus

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Message Posted: Aug 19, 2012 4:10:23 PM

Only a rube or hapless partisan hack would deny this country's improvement from where the Texas Village Idiot left it.It's the same old with conservative sheeple, listen to Fox Noise for talking points then line up on the fencerow and do their best magpie choir.What a bunch of asshats, their party ran the country into the cesspool then piss and moan that Obama isn't cleaning up their mess fast enough, while their teabaggers obstruct any and every move to rebound the economy.Republicans en masse should be voted out this Nov. for their treasonous behavior against working Americans.Their ONLY answer for this economy is more ass backward tax cuts for the top 1%'ers, and anyone gullible enough to buy into that trickle down nonsense has the sense of southern part of a north bound horse.
bigmace111
Champion Author Albany

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Message Posted: Aug 19, 2012 4:09:33 PM

Big Oil is determined to be the only ones to make profits. Confidence rises for consumers, so Big Oil raises prices so that we can't afford to buy anything other than oil and gas.
milespergallon
Champion Author Illinois

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Message Posted: Aug 19, 2012 4:07:44 PM

Confidence in what. Pure horse manure here!!!!!!!!!!!!!!
Blue48
Champion Author Illinois

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Message Posted: Aug 19, 2012 4:06:56 PM

UP..DOWN..UP..DOWN!
zantor
Veteran Author San Bernardino

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Joined:Jul 2012
Message Posted: Aug 19, 2012 4:06:48 PM

I don't get it. Why is it good if oil prices rise?
kelly1016
Champion Author Victoria

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Message Posted: Aug 19, 2012 4:06:20 PM

Tomorrow will be a different story
THX138
Champion Author San Francisco

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Message Posted: Aug 19, 2012 4:03:41 PM

Confidence? L O L ! How about need?
peapaw
Champion Author Ohio

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Message Posted: Aug 19, 2012 4:00:32 PM

Oh please!!
Zuman
Champion Author New York

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Message Posted: Aug 19, 2012 3:59:38 PM

JUST MORE BS.
VernonOR
Champion Author Oregon

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Message Posted: Aug 19, 2012 3:59:31 PM

Confidence, you've got to be kidding, they must have sampled only Obama loyal test.
eye-spy
Champion Author Quebec

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Message Posted: Aug 19, 2012 3:58:01 PM

I agree with "naiiawah".
Posted at: 4:33:26pm
speedys
Champion Author Utah

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Points:3,338,755
Joined:Nov 2005
Message Posted: Aug 19, 2012 3:57:23 PM

WHOSE CONFIDENCE HAS GONE UP?
30mpg80
Champion Author Lexington

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Message Posted: Aug 19, 2012 3:56:07 PM

STILL no curbs on oil speculation by the commodities commission, as ordered by Congress couple of years ago
too_darned_high
Champion Author Indianapolis

Posts:1,985
Points:1,059,355
Joined:Apr 2012
Message Posted: Aug 19, 2012 3:54:38 PM

I'm confident that consumers will pay even more for a gallon of gasoline.

That's MY consumer confidence, and no, it's not improving.
livedream
Champion Author Michigan

Posts:7,129
Points:1,528,595
Joined:Mar 2011
Message Posted: Aug 19, 2012 3:52:16 PM

I agree with naiiawah -- "Consumer confidence isn't doing anything of the sort. Profiteers manipulation is what is going on."

Everyone is also exactly right about the Speculators being responsible for this.
Red7002011
Champion Author Mississippi

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Message Posted: Aug 19, 2012 3:50:13 PM

Really!
BigZ1959
Champion Author Cincinnati

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Message Posted: Aug 19, 2012 3:50:02 PM

up
jcdakota
Champion Author Baltimore

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Message Posted: Aug 19, 2012 3:49:47 PM

So the rich get richer while the rest of us pay through the nose....
OU812Lary
Sophomore Author Grand Rapids

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Joined:Dec 2009
Message Posted: Aug 19, 2012 3:49:17 PM

cool
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