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Oil futures hurt by inventory data, euro-zone PMI

MarketWatch -- LONDON (MarketWatch) — Oil futures extended their losses on Thursday, falling sharply amid a rising dollar and after data showing higher-than-expected U.S. crude inventories, while weak euro-zone further hampered sentiment.

April U.S. crude oil /quotes/zigman/2291772 CLJ3 -1.61% lost $1.24, or 1.3%, to trade at $94.02 a barrel, adding to the heavy losses suffered on the New York Mercantile Exchange the previous day.

The April contract had dropped $1.88, or 1.9%, during the Wednesday Nymex session, partly due to concern over a large block of sales, as well as talk that Saudi Arabia may raise its crude production. Read: Oil ends lower; large trade spurs fund speculation

Meanwhile, rival London-traded Brent North Sea crude also lost ground Thursday. April Brent futures /quotes/zi

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Submitted Feb 21, 2013 By: WxVette

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Canucktree Champion Author Alberta Posts:4,906 Points:1,022,575 Joined:Dec 2008	Message Posted: Feb 22, 2013 7:16:41 AM Ignore Canucktree Report Abuse Yawn.
afghaned Champion Author Hamilton Posts:11,833 Points:1,288,310 Joined:May 2004	Message Posted: Feb 21, 2013 11:23:32 PM Ignore afghaned Report Abuse Gas keeps up the climb.
NedW Champion Author Indianapolis Posts:5,630 Points:1,145,170 Joined:Mar 2008	Message Posted: Feb 21, 2013 10:10:39 PM Ignore NedW Report Abuse Thank you for submitting this article, WxVette.
KhelbenArunson Champion Author Michigan Posts:4,461 Points:720,040 Joined:Apr 2008	Message Posted: Feb 21, 2013 8:36:23 PM Ignore KhelbenArunson Report Abuse Good.
MotoDad Champion Author Phoenix Posts:1,106 Points:813,065 Joined:Sep 2006	Message Posted: Feb 21, 2013 8:35:15 PM Ignore MotoDad Report Abuse go down more
montytexas Champion Author Houston Posts:2,914 Points:1,413,440 Joined:Jun 2006	Message Posted: Feb 21, 2013 7:55:21 PM Ignore montytexas Report Abuse Let us wait and see what happens over the next few months as we emerge from winter to spring.....
scubadaniel Champion Author Dayton Posts:1,436 Points:694,695 Joined:Jan 2011	Message Posted: Feb 21, 2013 7:14:18 PM Ignore scubadaniel Report Abuse OMG.
milespergallon Champion Author Illinois Posts:9,759 Points:1,911,285 Joined:Feb 2007	Message Posted: Feb 21, 2013 7:00:41 PM Ignore milespergallon Report Abuse Another interesting time where the pump prices skyrocketed immediately and we wait and wait and wait and wait and wait for the drip down when oil drops
BKool Champion Author Michigan Posts:5,273 Points:1,902,255 Joined:Aug 2005	Message Posted: Feb 21, 2013 6:58:31 PM Ignore BKool Report Abuse ok
AKmailman Champion Author Alaska Posts:5,648 Points:1,560,490 Joined:Jul 2004	Message Posted: Feb 21, 2013 6:57:29 PM Ignore AKmailman Report Abuse Why should we care how they do it in Europe? We have all the oil be need here and in Canada
Chillywilly Champion Author Winnipeg Posts:2,097 Points:580,645 Joined:Mar 2004	Message Posted: Feb 21, 2013 6:56:01 PM Ignore Chillywilly Report Abuse Right on, Pete12!
Blue48 Champion Author Illinois Posts:7,320 Points:1,640,870 Joined:Feb 2007	Message Posted: Feb 21, 2013 6:55:04 PM Ignore Blue48 Report Abuse WHATEVER!
colaguy Champion Author Columbia Posts:3,181 Points:1,009,925 Joined:Oct 2008	Message Posted: Feb 21, 2013 6:54:23 PM Ignore colaguy Report Abuse ok
bababooey2 Champion Author Hartford Posts:6,362 Points:1,305,540 Joined:Sep 2009	Message Posted: Feb 21, 2013 6:45:59 PM Ignore bababooey2 Report Abuse No it is hurt by blood sucking speculators.
Pete12 Champion Author Albany Posts:4,880 Points:1,646,870 Joined:Nov 2005	Message Posted: Feb 21, 2013 6:42:34 PM Ignore Pete12 Report Abuse You mean oil futures were helped, in the eyes of the consumer.
dasimon All-Star Author Florida Posts:556 Points:573,050 Joined:Mar 2011	Message Posted: Feb 21, 2013 6:40:30 PM Ignore dasimon Report Abuse For how long though.
sickhp Champion Author San Antonio Posts:1,389 Points:519,080 Joined:Sep 2011	Message Posted: Feb 21, 2013 6:39:59 PM Ignore sickhp Report Abuse Drill baby drill.
barbs24 Champion Author Virginia Beach Posts:3,154 Points:2,042,745 Joined:Feb 2006	Message Posted: Feb 21, 2013 6:39:53 PM Ignore barbs24 Report Abuse I'm sick of this.
texasvet Champion Author Texas Posts:3,839 Points:360,875 Joined:Jul 2009	Message Posted: Feb 21, 2013 6:39:46 PM Ignore texasvet Report Abuse OPEC will go back to manipulating the world supply to get the price back up.
Spankster85 Champion Author Chicago Posts:1,739 Points:359,765 Joined:Nov 2011	Message Posted: Feb 21, 2013 6:32:25 PM Ignore Spankster85 Report Abuse Alrighty then.
medic319 All-Star Author Akron Posts:733 Points:248,735 Joined:Mar 2012	Message Posted: Feb 21, 2013 6:32:11 PM Ignore medic319 Report Abuse Hopefully the price is still down at the close of the contract. It usually falls in time to buy and miraculously recovers just in time to close the contract. market manipulation anyone?
yeehaw1073 Champion Author Indiana Posts:2,371 Points:1,852,375 Joined:May 2004	Message Posted: Feb 21, 2013 6:31:33 PM Ignore yeehaw1073 Report Abuse still waiting for gas prices to see any significant change from this.
briinnc Champion Author North Carolina Posts:2,705 Points:834,820 Joined:Jan 2010	Message Posted: Feb 21, 2013 6:26:59 PM Ignore briinnc Report Abuse They're hurting us.
GoGoGoodyear Champion Author Los Angeles Posts:2,060 Points:510,075 Joined:Mar 2010	Message Posted: Feb 21, 2013 6:25:18 PM Ignore GoGoGoodyear Report Abuse Oh well, they gambled and this time they lost. Either way it hasn't helped the gasoline prices.
CheapDiesel All-Star Author Indianapolis Posts:801 Points:177,415 Joined:Nov 2005	Message Posted: Feb 21, 2013 6:25:18 PM Ignore CheapDiesel Report Abuse It seems at some point somebody would figure out that this lousy economy will not support the artificially high prices. Considering the track record of the POTUS, there will not be any improvement in the economy for at least another 4 years.
camel1 Champion Author Minnesota Posts:8,280 Points:2,268,565 Joined:Jul 2006	Message Posted: Feb 21, 2013 6:24:20 PM Ignore camel1 Report Abuse nice break. will retail prices adjust downward? I doubt we will see it soon.
mst150 Champion Author Detroit Posts:1,262 Points:161,805 Joined:Dec 2012	Message Posted: Feb 21, 2013 6:23:45 PM Ignore mst150 Report Abuse Yes
Ken2OD Champion Author Grand Rapids Posts:9,082 Points:1,973,890 Joined:Dec 2005	Message Posted: Feb 21, 2013 6:22:47 PM Ignore Ken2OD Report Abuse "Number scrambling" based on oil speculation is a big joke!
Mystikal1 Sophomore Author Akron Posts:229 Points:604,230 Joined:May 2011	Message Posted: Feb 21, 2013 6:21:04 PM Ignore Mystikal1 Report Abuse Oil futures hurt by inventory data while I'm hurt by ridiculous gas prices. Guess who is hurting more.
swrestler Champion Author Grand Rapids Posts:6,150 Points:1,574,100 Joined:Oct 2008	Message Posted: Feb 21, 2013 6:19:40 PM Ignore swrestler Report Abuse Then Why Are Gas Prices Still Going Up????
DABEE1073 Champion Author San Diego Posts:8,215 Points:1,575,035 Joined:Jun 2008	Message Posted: Feb 21, 2013 6:18:48 PM Ignore DABEE1073 Report Abuse Don't your heart just pump 'you know what' for them.
Wierbe Champion Author Cincinnati Posts:3,767 Points:1,121,290 Joined:Apr 2006	Message Posted: Feb 21, 2013 6:15:34 PM Ignore Wierbe Report Abuse SOMEbody's making a killing on the mess and it sure isn't me!
bevmill Champion Author Georgia Posts:2,592 Points:603,245 Joined:Apr 2006	Message Posted: Feb 21, 2013 6:10:22 PM Ignore bevmill Report Abuse Okay, but gas prices are still going up, up and away.
s6sputnik Champion Author Austin Posts:6,222 Points:1,310,380 Joined:Jun 2007	Message Posted: Feb 21, 2013 6:08:03 PM Ignore s6sputnik Report Abuse Makes you sick!
ESCORT6768 Champion Author Iowa Posts:1,082 Points:612,640 Joined:Sep 2005	Message Posted: Feb 21, 2013 6:07:53 PM Ignore ESCORT6768 Report Abuse Inventories up, crude oil prices down, price at the pump keeps going up. When is the government going to step in and deal with these price gouging crooks?
mplato Champion Author Columbia Posts:8,264 Points:1,818,195 Joined:Jun 2004	Message Posted: Feb 21, 2013 6:02:12 PM Ignore mplato Report Abuse inventory in this industry means nothing to prices
gobux10 Champion Author Ohio Posts:3,185 Points:682,755 Joined:Mar 2010	Message Posted: Feb 21, 2013 6:01:49 PM Ignore gobux10 Report Abuse Just a game for some
dollarwatcher Champion Author Wisconsin Posts:7,955 Points:1,537,170 Joined:Mar 2007	Message Posted: Feb 21, 2013 6:01:28 PM Ignore dollarwatcher Report Abuse Hope the local pump jocks see this article. Went up another 5 cents today to 3.79.
rampower80 Champion Author Kentucky Posts:2,054 Points:464,615 Joined:Jan 2012	Message Posted: Feb 21, 2013 5:55:46 PM Ignore rampower80 Report Abuse Oil needs to be about half what it currently is based up growing inventory levels and slightly receeding demand.
slowpoke63 Champion Author Louisiana Posts:2,747 Points:889,090 Joined:Jul 2009	Message Posted: Feb 21, 2013 5:54:24 PM Ignore slowpoke63 Report Abuse While pump prices continue to climb!
gass12 Champion Author Omaha Posts:8,404 Points:2,306,640 Joined:Oct 2005	Message Posted: Feb 21, 2013 5:53:02 PM Ignore gass12 Report Abuse More Bull.
StraKat Champion Author Ohio Posts:3,220 Points:571,965 Joined:Jan 2011	Message Posted: Feb 21, 2013 5:52:28 PM Ignore StraKat Report Abuse The higher the price, the less I drive.
TXHUNTER1 Champion Author Austin Posts:2,711 Points:295,760 Joined:Dec 2006	Message Posted: Feb 21, 2013 5:52:12 PM Ignore TXHUNTER1 Report Abuse Prices keep going up.
DEG Champion Author Las Vegas Posts:17,635 Points:3,497,630 Joined:Jul 2003	Message Posted: Feb 21, 2013 5:50:50 PM Ignore DEG Report Abuse The US economy will slow with the ever rising gas prices.
liz72601 Rookie Author Arkansas Posts:48 Points:169,185 Joined:Sep 2011	Message Posted: Feb 21, 2013 5:50:26 PM Ignore liz72601 Report Abuse they are not getting their money so they put it on us poor people who can't afford to fill up their tanks and can't get in to the doctors but the government says that is ok by them
snagged Veteran Author Akron Posts:396 Points:112,030 Joined:Oct 2012	Message Posted: Feb 21, 2013 5:49:21 PM Ignore snagged Report Abuse Gas is down here by a few pennys.
Christiankm Rookie Author Boston Posts:6 Points:203,845 Joined:Apr 2012	Message Posted: Feb 21, 2013 5:46:21 PM Ignore Christiankm Report Abuse more oil bullshit
sent4456 Champion Author Toronto Posts:1,342 Points:2,128,750 Joined:Mar 2006	Message Posted: Feb 21, 2013 5:43:45 PM Ignore sent4456 Report Abuse Just because people like you and me driving less.
falcons Champion Author North Dakota Posts:10,804 Points:2,373,330 Joined:Dec 2004	Message Posted: Feb 21, 2013 5:40:00 PM Ignore falcons Report Abuse force specutlators totake delivery and store their oil/gas for a mimimun of THREE months
darkknight1 Champion Author Winston-Salem Posts:4,350 Points:898,760 Joined:Nov 2010	Message Posted: Feb 21, 2013 5:39:43 PM Ignore darkknight1 Report Abuse Then gas should drop but it isn't. So...