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Oil Trades Near One-Week Low as Crude Inventories Rise

Bloomberg -- Oil traded near the lowest level in almost a week in New York after U.S. crude stockpiles increased and the World Bank cut its economic growth forecasts.

Futures were little changed after slipping the most in almost a month yesterday. U.S. crude supplies gained a second week and inventories rose to a record at Cushing, Oklahoma, the delivery point for West Texas Intermediate, data from the industry-funded American Petroleum Institute showed. An Energy Department report today may show stockpiles climbed by 2.2 million barrels, according to a Bloomberg News survey. OPEC reduced its output to the lowest level in 14 months, a monthly report from the producer group showed.

“Supply in the U.S. is increasingly comfortable as their domestic production of oil and gas burgeons,” Christopher


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Submitted Jan 16, 2013 By: WxVette
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Trades Near One-Week Low as Crude Inventories Rise Back to Topics
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

Posts:24,351
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Message Posted: Jan 18, 2013 9:13:36 PM

not gonna change the upward pump trend.
Bearcat500
Champion Author Cincinnati

Posts:12,006
Points:2,146,285
Joined:Nov 2005
Message Posted: Jan 17, 2013 5:03:22 AM

OK
FogCitySpotter
Champion Author San Francisco

Posts:3,783
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Joined:Apr 2007
Message Posted: Jan 17, 2013 4:15:36 AM

Ok
HawaiianGuy
Champion Author Idaho

Posts:12,884
Points:3,881,300
Joined:May 2003
Message Posted: Jan 17, 2013 4:09:50 AM

Yet prices took an 8 cent hike just 3 days ago. WTF?
nb52
Champion Author Grand Rapids

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Message Posted: Jan 17, 2013 3:14:44 AM

Only care if pump prices lower, much lower.
jcdakota
Champion Author Baltimore

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Points:415,920
Joined:Nov 2010
Message Posted: Jan 17, 2013 12:49:27 AM

If the supply is so high and the production is up - why is the price still hovering about the same?
CiVX
Champion Author Oakland

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Message Posted: Jan 16, 2013 9:42:26 PM

Well!
crreed1
Champion Author West Virginia

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Message Posted: Jan 16, 2013 9:22:34 PM

still 3.45 here
69Bonne
Champion Author Gary

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Message Posted: Jan 16, 2013 9:16:58 PM

Keep dropping.
rahcat
Champion Author Grand Rapids

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Message Posted: Jan 16, 2013 9:14:39 PM

One week low???????????
SteelPenny
Champion Author Dallas

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Message Posted: Jan 16, 2013 9:11:46 PM

And yet the price at the pump keeps going UP.
KrsnaDragon
Champion Author Montreal

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Message Posted: Jan 16, 2013 9:10:51 PM

Speculation breeds despair.
Jmac2008
Champion Author Missouri

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Joined:Dec 2008
Message Posted: Jan 16, 2013 9:09:57 PM

and yet prices are not dropping.
mfeldstein
Champion Author Ottawa

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Message Posted: Jan 16, 2013 9:08:14 PM

Good.
CivicMA
Champion Author Boston

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Message Posted: Jan 16, 2013 9:07:27 PM

No change at the pump!
heartbroken2010
Champion Author Ottawa

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Message Posted: Jan 16, 2013 9:07:23 PM

not reflected in daily gas prices.
jetskijerry
Champion Author North Carolina

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Message Posted: Jan 16, 2013 9:06:42 PM

crooks
N5EXY
Champion Author Austin

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Message Posted: Jan 16, 2013 9:06:32 PM

Bloomberg? Isn't there a big city idiot mayor named something like that?
jetskijerry
Champion Author North Carolina

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Message Posted: Jan 16, 2013 9:06:32 PM

yet they keep raising the price at the pump..
cheaper0ON
Champion Author Ontario

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Message Posted: Jan 16, 2013 9:04:22 PM

Ok.
carloco75
Champion Author Richmond

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Message Posted: Jan 16, 2013 9:03:39 PM

And the pump price isn't affected either way...yippie...
NAVYHM
All-Star Author Cleveland

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Message Posted: Jan 16, 2013 9:02:39 PM

REALLY...
danreino
Champion Author Twin Cities

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Message Posted: Jan 16, 2013 9:02:23 PM

Barraqh must have not gotten the message this morning ;/
ManOfLeisureII
Champion Author Philadelphia

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Message Posted: Jan 16, 2013 9:01:56 PM

Meaningless information
CCLighthouse
Champion Author Hartford

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Message Posted: Jan 16, 2013 8:59:39 PM

Really!
NAVYHM
All-Star Author Cleveland

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Message Posted: Jan 16, 2013 8:58:27 PM

GOOD...
Jeeputtputt
Champion Author Ohio

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Message Posted: Jan 16, 2013 8:54:50 PM

all right
nwsynthetics
Champion Author Oregon

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Message Posted: Jan 16, 2013 8:52:00 PM

lower the price at the pumps
mstearno
Champion Author Dayton

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Message Posted: Jan 16, 2013 8:49:59 PM

good for us
bvrbill
Champion Author Eugene

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Message Posted: Jan 16, 2013 8:44:12 PM

It's good that our inventories are rising. However, it does not seem that it is lessening the prices we pay at the pump.
GigHarborHound
Champion Author Tacoma

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Message Posted: Jan 16, 2013 8:39:39 PM

So?
Math6149
Champion Author Jacksonville

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Message Posted: Jan 16, 2013 8:39:37 PM

Keep it lower to help our economy.
TornadoRed
Champion Author Minnesota

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Message Posted: Jan 16, 2013 8:36:34 PM

It seems as though the general direction for fuel prices is lower. But, the Federal Reserve Bank's policy of printing trillions of dollars could result in commodity prices going higher even with a surplus of oil and other liquid fuels.
snagged
Veteran Author Akron

Posts:468
Points:362,220
Joined:Oct 2012
Message Posted: Jan 16, 2013 8:33:06 PM

I'm not buying no more gas till they pay me to take it off their hands. I think I'll be doing some walking.
J Eric
Champion Author Los Angeles

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Points:2,799,295
Joined:Feb 2004
Message Posted: Jan 16, 2013 8:31:20 PM

This "World Bank" -- they got regular tellers and such there? Can I, like, make an ATM withdrawal there? I thought not.
charg3rguy1991
Champion Author Greensboro

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Message Posted: Jan 16, 2013 8:30:49 PM

ok
Titan_62
Champion Author North Carolina

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Message Posted: Jan 16, 2013 8:29:21 PM

Thanks for posting
Cheney
Champion Author Toronto

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Message Posted: Jan 16, 2013 8:25:09 PM

pity
MotoDad
Champion Author Phoenix

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Message Posted: Jan 16, 2013 8:21:48 PM

no releif insight.
serrog
Champion Author Nova Scotia

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Message Posted: Jan 16, 2013 8:20:10 PM

Big deal
BREW9
Champion Author Tampa

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Message Posted: Jan 16, 2013 8:17:17 PM

keep dropping
Marson
Champion Author Scranton

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Message Posted: Jan 16, 2013 8:17:07 PM

Keep it coming down.
DrLyon
Champion Author Michigan

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Message Posted: Jan 16, 2013 8:14:51 PM

Go lower...
DCbeachbum
Champion Author South Carolina

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Message Posted: Jan 16, 2013 8:12:28 PM

Supply and demand do not seem to drive this sector of the Stock Market.
atdinut
Champion Author California

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Message Posted: Jan 16, 2013 8:10:20 PM

Mixed message?
TxMtb
Champion Author Ohio

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Message Posted: Jan 16, 2013 8:08:32 PM

They will just cut it off when they want the price to rise.
drz614
Champion Author Harrisburg

Posts:5,730
Points:1,413,015
Joined:Aug 2011
Message Posted: Jan 16, 2013 8:03:57 PM

crude inventories massive, most areas high gas and distillate prices still exist. exports remain high for both too. hmmmm
BigBlue5
Champion Author Spokane

Posts:2,718
Points:707,125
Joined:Apr 2010
Message Posted: Jan 16, 2013 8:03:54 PM

Dumbo ears in the white house is the only one comfortable.
neptune2008
Champion Author Michigan

Posts:10,884
Points:2,397,020
Joined:Aug 2008
Message Posted: Jan 16, 2013 7:57:57 PM

nobody I know is comfortable
Dragnet
Champion Author Arizona

Posts:18,947
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Joined:Jul 2004
Message Posted: Jan 16, 2013 7:57:12 PM

Only one comfortable is the one in the big house in D.C. as he continues to screw over Americans
ILoveGoldens
All-Star Author Kentucky

Posts:918
Points:384,695
Joined:Aug 2011
Message Posted: Jan 16, 2013 7:53:18 PM

"Supply in the U.S. is increasingly comfortable?" Who is comfortable??
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