[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

If You Donated to Barack Obama in 2008, You’re a Bigot and You’re Fired

shooter ... a member of our "enriching diversity" --- set-up by the white devils

Daily KOS Putz's They are afraid the right wingers are going to revolt

Should Anti Terror Squads Take Rachel Maddow to the woodshed

U.S. District Judge Daniel Hovland Enemy of The People....Enabling the murder of children

86M Full-Time Private-Sector Workers Sustain 148M Benefit Takers

PSALM 144

SNIPER 101 Part 1 - Introduction - Rex Reviews

Bundy Ranch - What You're Not Being Told (Google Assholes Deleting Information)

CUNT: Pelosi Receives Her Baby-Killer Award

Woman run down by freight train ... while running on the tracks --- with headphones on

Dear God ... if you're there --- why? Why? Why?

URGENT! Militias Are Mobilizing to the Cliven Bundy ranch (videos)

The Gay ... Thought Police --- unFreedom of Speech - religion

Firefox Replacement

Buchanan: Is God On Russia's Side?

An Open Letter to the Legislatures of New Jersey and Rhode Island: Are you seriously proposing to have your own skulls turned into soap dishes?

Wargaming the opening blows of civil war in Connecticut. The lessons of Waco and the phrase that the smartest state cops in CT are most afraid of

cultural quagmire must be reversed ... blind eye - pointing fingers --- making black problems worse.

Is the world ... on the eve --- of destruction?

Court rules lesbian chef is owed $1.6M after boss prayed to 'cure her of her sexuality'

Zombie apocalpyse has begun ... invasion of the body snatchers --- trayvon martians !

Room 310

Mozilla employees want brand new CEO Brendan Eich to resign, already (Because He Doesn't Take It Up The Ass)

The Delphi Technique — What Is It?

Clint Richardson - Common Core, Agenda 21, And Global Privatization

Faggots Saved Up Their Shit And Put It In Little Bags To Throw At The Decent Folks

format who cater to ... Atheists, Elites, Homosexuals, Filthy Hippies, Baby Killers, Flag Burners, Tree Huggers, Democrats, Socialists, Marxists, Progressives, Communists, Islamofascists --- every Left Wing Whacko group in the world.

Sailors Leaving The Navy Because Obama is a Pole Sucking Faggot pushing Sexual Perversion on them

Piece of Shit Rick Libero Arrests Man For Drinking Iced Tea

More Murdering Piece of Shit Pigs...Kill Camper

Yemeni Told Wife on Phone He Was Being Devoured by Hyena

Dying Zoo Worker Gets Goodbye Kiss From Giraffe

hard core Obamaite's heads are exploding. .. All those years indoctrinating kids --- may go out the window.

Buchanan: Is Putin The Irrational One?

Michigan Man Charged With Felony After Exceeding Public Comment Time Limit

Have the Last Rites been given to LF? Yukon outed himself as a faggot and is now ashamed and mad about it

Michelle Obama is a man, baby!

Rand Paul And Berkeley: Libertarian And Liberal Hotbed Find Common Cause Opposing NSA

Ron Paul Slams Us On Crimea Crisis And Says Russia Sanctions Are 'An Act Of War'

do not fly in planes who have muzlims pilot ... you never know --- they get brain washed

Liberals know it ... thus the perpetual assault --- on the family - religion.

The Bull

It's Who You Know

A song

Many times ... you can judge a person --- by the character of his enemies.

black attacks white ... white guy defends self --- HE's the racist killer - utter BS

When government wants to be your church ... your country is --- in serious trouble

Putin Carterizes Obama, Totally: The Democrats are vulnerable again on handling the world.

Russian Warship Sunk Off Crimea


Status: Not Logged In; Sign In

Business
See other Business Articles

Title: Why Gasoline Isn't $4 Per Gallon Nationally
Source: Bloomberg
URL Source: http://www.businessweek.com/article ... e-isnt-4-per-gallon-nationally
Published: Apr 11, 2012
Author: Matthew Philips
Post Date: 2012-04-11 10:50:24 by Brian S
Keywords: None
Views: 205
Comments: 2

The recent surge in U.S. gasoline prices may be stalling thanks to a growing supply of crude oil and a retreat by speculators in the futures market. After weeks of consecutive increases, the average price of a gallon of gas in the U.S. fell more than a penny this week, from $3.94 on April 2, to $3.93 on April 9. In California, the state with the highest gas prices in the lower 48, prices fell to an average of $4.28 a gallon on April 9, down from $4.35 three weeks ago.

“I think we’re seeing the gas and diesel markets start to run out of steam,” says Ben Brockwell, director of data and pricing at Oil Price Information Service (OPIS), a New Jersey-based energy research firm. Two weeks ago, Brockwell was all but certain the price of gas would hit a national average of $4 a gallon by the end of April. Now he’s not so sure: “There’s a chance this market has peaked and that we won’t see $4 average prices at the pump.”

Gas prices haven’t fallen everywhere, though. They continue to rise along much of the East Coast, particularly in New England, where the average price rose 7¢ last week, from $3.89 to $3.96. A flurry of East Coast refinery shutdowns of late has squeezed supply chains and could continue to add to the price of gasoline this summer, particularly in the Northeast.

The price of gas is determined primarily by the price of oil, which has fallen recently due to questions surrounding the strength of the U.S. recovery, as well as news that Iran will resume talks on its nuclear program. Rising OPEC production and a growing supply of crude in the U.S. have also helped dampen oil prices recently. The U.S. is now producing more than 6 million barrels a day, the most in 12 years. But with demand at its lowest level since the mid-1990s—and overloaded pipeline infrastructure unable to move it to refineries quickly—supplies are building faster than they have in decades.

A Bloomberg survey of energy analysts indicates that U.S. crude supplies climbed to 364.4 million barrels last week, their highest level for early April since 1990. Supplies in Cushing, Okla., where the price of West Texas Intermediate is set, have risen particularly fast—nearly 40 percent this year. The amount of crude stored in Cushing rose to more than 40 million barrels at the end of March, nearing the April 2011 record of 41.8 million barrels, and nearly double the amount stored there just three years ago.

This glut of supplies could be impacting the behavior of oil speculators, who have been pouring billions of dollars into a variety of oil-related futures contracts since October, betting on an Iranian supply disruption and, as a result, helping lift oil prices 30 percent in the last six months. The amount of speculative money in the oil market hit a record high in mid-March, when money managers held a net long exposure to oil through 642,724 futures contracts. At 1,000 barrels per contract, that’s roughly the equivalent of 643 million barrels of oil—more than the entire world uses in a week. But speculators pulled back last week, reducing their net long positions to 576,526 futures contracts. That’s still the seventh-highest weekly total ever, according to Citigroup (C) oil analyst Tim Evans.

“The question is whether that simply reflects end-of-the-quarter profit-taking, or whether it signals a more significant change in market sentiment,” Evans says. “There isn’t enough data to say for sure that the buying spree has run its course. We can’t ever assume they won’t build an even larger position in the future.” (1 image)

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

Begin Trace Mode for Comment # 2.

#2. To: Brian S (#0)

The Saudis have expressed frustration that oil supplies are quite plentiful yet the price is high, creating a friction in their petrodollar economy with the States.

The problem is, as it has been, oil speculators. It is much cheaper to speculate in oil than in stocks because it takes so little to cover the purchase. The regulations actually encourage oil speculation relative to stock investment.

It appears the Saudis have opened the taps wide to punish the speculators.

TooConservative  posted on  2012-04-11   15:53:46 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 2.

        There are no replies to Comment # 2.


End Trace Mode for Comment # 2.

TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com