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  • Out Of Nowhere, Oil Is Tanking Again

    From businessinsider.com

    Weakness in crude is fast becoming a big story. It's been falling all week. Reports yesterday about the Saudis pumping more oil might be part of it. Crude futures are off $2/barrel. There's also a quote from the OPEC Secretary General about there not being a shortage of oil anywhere.

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  • Post #1
  • Quote
  • Sep 19, 2012 9:45am Sep 19, 2012 9:45am
  •  tunera
  • | Commercial Member | Joined Sep 2005 | 222 Comments
the unexplainable drop, rotfl
 
 
  • Post #2
  • Quote
  • Sep 19, 2012 9:57am Sep 19, 2012 9:57am
  •  ssshhhh
  • | Joined Sep 2011 | Status: Member | 465 Comments
perhaps the stimulus around the world, producers are increasing their production to attend the demand?
 
 
  • Post #3
  • Quote
  • Sep 19, 2012 10:03am Sep 19, 2012 10:03am
  •  ForExtraPips
  • Joined Sep 2011 | Status: Minor crosses. Major pips. | 252 Comments
While the price at the pump keeps going up.
 
 
  • Post #4
  • Quote
  • Sep 19, 2012 10:15am Sep 19, 2012 10:15am
  •  Guest
  • | IP XX.XX.2.105
Quoting ForExtraPips
Disliked
While the price at the pump keeps going up.
Ignored
But there's no manipulation, of course.
That's just "the nature of things"..., or blame it on "fat fingers"..?
 
 
  • Post #5
  • Quote
  • Sep 19, 2012 10:25am Sep 19, 2012 10:25am
  •  tidicofx
  • Joined Sep 2009 | Status: Member | 12 Comments
oil is a political instrument
politicians decide on oil prices
oh
It's a measure to increase pressure on iran
 
 
  • Post #6
  • Quote
  • Sep 19, 2012 10:47am Sep 19, 2012 10:47am
  •  Iro
  • | Joined Apr 2012 | Status: Member | 343 Comments
Is it because of the elections? Maybe Obama wants lower oil prices before people go to the polls.
 
 
  • Post #7
  • Quote
  • Sep 19, 2012 10:51am Sep 19, 2012 10:51am
  •  wolfeman
  • | Joined Apr 2007 | Status: Member | 18 Comments
Right iro...As long as I can remember, just before the elections gas prices come way down. That will give obummer something to brag about. Right now he has nothing.
 
 
  • Post #8
  • Quote
  • Sep 19, 2012 12:02pm Sep 19, 2012 12:02pm
  •  JimDandy
  • Joined Aug 2007 | Status: Buying Lows and Selling Highs | 191 Comments
Oil is priced in Dollars... Dollar goes down it takes more to buy oil... Dollar goes up.. it takes less Dollars to buy a barrel.... Has Dollar increased in value this week, or decreased?
 
 
  • Post #9
  • Quote
  • Sep 19, 2012 1:00pm Sep 19, 2012 1:00pm
  •  Guest
  • | IP XX.XXX.35.146
Being priced in USD it creates an artificial demand for the
buck. We may think that the USD is currently losing value,
what do the readers think will happen when, not if, that link
is broken. Sadam was wanting to sell in other currencies but that went over like a lead balloon in Washington so out went Sadam, weapons of mass destruction or no.
 
 
  • Post #10
  • Quote
  • Sep 19, 2012 1:15pm Sep 19, 2012 1:15pm
  •  Guest
  • | IP XXX.XXX.189.72
i think oil price should climb tomorrow coz fall of over 4 dollars in a session that too when stimulus are coming from all over the world, fall shouldn't sustain.
 
 
  • Post #11
  • Quote
  • Sep 19, 2012 4:00pm Sep 19, 2012 4:00pm
  •  Guest
  • | IP XX.XX.238.130
One explanation that's been suggested is that the US released some of its strategic reserve.
 
 
  • Post #12
  • Quote
  • Sep 19, 2012 6:22pm Sep 19, 2012 6:22pm
  •  fxx360
  • | Joined Dec 2011 | Status: Member | 845 Comments
Politics is forcing the price of oil down and here are the facts: The Saudis would like Obama to stay in power because he is good for their oil market. If Romney became president he will cut off the bulk of foriegn oil and invest more in America energy to create jobs at home. So the Saudis is behind all the rhetoric to drive the price down.
 
 
  •  Guest
  • | IP XX.XXX.126.232
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  • Story Stats
  • Posted: Sep 19, 2012 9:34am
  • Submitted by:
     Newsstand
    Category: Medium Impact Breaking News
    Comments: 12  /  Views: 2,870
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