Oil prices edge up towards $127 in London

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Sunday, September 07, 2008 8:28:58 PM

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GasBuddy News Article

Oil prices edge up towards $127 in London Friday, July 25, 2008
The Associated Free Press -- LONDON (AFP) — Oil prices rose slightly on Friday at the end of a week of sharp falls as concerns eased over tight supplies and strong demand for energy, traders said. Brent North Sea crude for September delivery climbed by 25 cents to 126.69 dollars in midday London trade. New York's main contract, light sweet crude for September delivery, rose 41 cents to 125.90 dollars a barrel in electronic deals. "Crude oil was a touch higher as the recent heavy slide may have been a little overdone, triggering a slight technical bounce," said Sucden energy analyst Michael Davies.
Visit The Associated Free Press for full article

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	Friday, July 25, 2008 The Associated Free Press -- LONDON (AFP) — Oil prices rose slightly on Friday at the end of a week of sharp falls as concerns eased over tight supplies and strong demand for energy, traders said. Brent North Sea crude for September delivery climbed by 25 cents to 126.69 dollars in midday London trade. New York's main contract, light sweet crude for September delivery, rose 41 cents to 125.90 dollars a barrel in electronic deals. "Crude oil was a touch higher as the recent heavy slide may have been a little overdone, triggering a slight technical bounce," said Sucden energy analyst Michael Davies. Visit The Associated Free Press for full article

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brus282 Champion Author North Carolina Posts:1,689 Points:359,280 Joined:Aug 2007	Message Posted: 7/27/2008 12:18:38 PM	Ignore brus282 Report Abuse
	old news
HawaiianGuy Champion Author Idaho Posts:1,004 Points:1,402,695 Joined:May 2003	Message Posted: 7/27/2008 11:58:38 AM	Ignore HawaiianGuy Report Abuse
	Let's see what Monday brings.
kookiwoogi Champion Author Indiana Posts:1,950 Points:1,185,930 Joined:May 2004	Message Posted: 7/27/2008 11:54:07 AM	Ignore kookiwoogi Report Abuse
	Same as yesterday .
WonderfulMI Champion Author Michigan Posts:1,099 Points:89,770 Joined:Jun 2008	Message Posted: 7/27/2008 11:54:07 AM	Ignore WonderfulMI Report Abuse
	Yes, the price in London is important. Oil is a world traded commodity. If you do not believe this, consider that Texas, which produces, or produced in 2006, Texas (21% of the United States domestic oil, with 23 refineries producing 4,628,000 bbl per day. Yet the price in Texas is still high. If drilling and producing domestic oil would reduce the pump price, gasoline in Texas would be the cheapest. It would be way down in price. But the Texans market their oil on the world market. Ar competitive to the world market. Oil prices anywhere in the the world are valid, as long as this oil is an appreciable percentage of the market.
SUNLVR Rookie Author Phoenix Posts:33 Points:264,060 Joined:Aug 2005	Message Posted: 7/27/2008 11:50:45 AM	Ignore SUNLVR Report Abuse
	Considering that the "edge up" was only 25 cents added to an original price of $126.44 per barrel in London, the AFP article has been revised & retitled as follows: "Oil prices drop to 124 dollars in New York"! When President Bush proved that he was serious about drilling by rescinding the presidential ban on drilling on the Outer Continental Shelf on July 14, oil prices have gone down virtually every day of the two weeks since then! The rapid decline in oil prices include the biggest one-day drop in 17 years on July 15 (the next day after Bush's speech) AND the biggest-ever weekly price drop by Friday of that same week! Imagine what would happen to gas prices if Congress also rescinded its drilling ban and then oil companies could actually start drilling where they know oil is waiting! Meanwhile, the Speaker of the House, Democrat Pelosi, is not allowing the issue to be voted upon because she is afraid that it would make Bush look good! She is the same hypocrite who campaigned in 2006 by saying she had a plan to lower gasoline & oil prices. Since she & her fellow Democrats won big in the 2006 election, gas prices have nearly doubled! We wouldn't be paying these high gas prices if oil companies were allowed to drill for our own oil. USA is the only country in the world that has passed laws to forbid acquiring its own oil!
GGAlbo All-Star Author Detroit Posts:592 Points:410,145 Joined:Sep 2006	Message Posted: 7/27/2008 11:39:12 AM	Ignore GGAlbo Report Abuse
	The price will be going Up and Down, but mostly Down!!!
eddyp94 All-Star Author Ontario Posts:532 Points:153,175 Joined:Mar 2008	Message Posted: 7/27/2008 11:38:18 AM	Ignore eddyp94 Report Abuse
	better them then us
AC-302 Champion Author Los Angeles Posts:7,484 Points:1,243,230 Joined:Aug 2004	Message Posted: 7/27/2008 11:37:24 AM	Ignore AC-302 Report Abuse
	What goes up must come down. But there is upward pressure on oil due to strong worldwide demand.
Ken2OD All-Star Author Grand Rapids Posts:676 Points:291,210 Joined:Dec 2005	Message Posted: 7/27/2008 11:36:09 AM	Ignore Ken2OD Report Abuse
	Same answer as yesterday. N.T.P.
MiJeff Champion Author Grand Rapids Posts:3,145 Points:781,200 Joined:May 2005	Message Posted: 7/27/2008 11:35:58 AM	Ignore MiJeff Report Abuse
	same as here
dabuzman All-Star Author Seattle Posts:803 Points:395,255 Joined:Apr 2006	Message Posted: 7/27/2008 11:35:55 AM	Ignore dabuzman Report Abuse
	So how cares what the price is their. I only concern it the price in the US & Canada. The price should on differ more than a few pennys in the US from coast to coast but I see 75 cents which some thing has gone wrong. Greed for the oil companys.
patbob56 Champion Author Colorado Springs Posts:1,379 Points:288,800 Joined:Apr 2006	Message Posted: 7/27/2008 11:34:24 AM	Ignore patbob56 Report Abuse
	yes because crude oil trades there
Wolfwings All-Star Author Delaware Posts:607 Points:210,100 Joined:May 2004	Message Posted: 7/27/2008 11:34:17 AM	Ignore Wolfwings Report Abuse
	No matter what the spot price is, you can be sure that between speculators and big oil, the guy at the pump will lose.
NECarter Sophomore Author Seattle Posts:130 Points:58,125 Joined:Oct 2006	Message Posted: 7/27/2008 11:30:02 AM	Ignore NECarter Report Abuse
	is the price in London material here?
phatride92 Champion Author Kansas Posts:3,377 Points:866,275 Joined:Oct 2005	Message Posted: 7/27/2008 11:28:21 AM	Ignore phatride92 Report Abuse
	old print
billy44bo Champion Author Mobile Posts:1,067 Points:187,645 Joined:Feb 2008	Message Posted: 7/27/2008 11:22:32 AM	Ignore billy44bo Report Abuse
	in London 6 hours before New York closed for the day which was lower than the price in the article.
tahoecool Champion Author Houston Posts:2,444 Points:468,555 Joined:Aug 2005	Message Posted: 7/27/2008 11:17:17 AM	Ignore tahoecool Report Abuse
	Old news
mrkel Champion Author Cincinnati Posts:1,420 Points:741,105 Joined:Apr 2006	Message Posted: 7/27/2008 11:13:45 AM	Ignore mrkel Report Abuse
	old news...Burn the speculators!
Austin1850 Champion Author Austin Posts:1,183 Points:79,235 Joined:May 2008	Message Posted: 7/27/2008 11:07:04 AM	Ignore Austin1850 Report Abuse
	Drop more
Toppers All-Star Author Atlanta Posts:512 Points:784,725 Joined:Mar 2005	Message Posted: 7/27/2008 11:02:59 AM	Ignore Toppers Report Abuse
	Down down down!
waltjax All-Star Author Illinois Posts:590 Points:817,760 Joined:Jul 2005	Message Posted: 7/27/2008 11:02:34 AM	Ignore waltjax Report Abuse
	it should be lower.
cheapertvs Champion Author Richmond Posts:1,448 Points:1,048,245 Joined:Jan 2004	Message Posted: 7/27/2008 11:01:38 AM	Ignore cheapertvs Report Abuse
	STILL DROPPING!!!
CallJeffCa Champion Author Oakland Posts:1,160 Points:278,530 Joined:Oct 2007	Message Posted: 7/27/2008 10:51:47 AM	Ignore CallJeffCa Report Abuse
	Keep on droppin
drclark Champion Author Tampa Posts:1,059 Points:148,920 Joined:Apr 2008	Message Posted: 7/27/2008 10:48:52 AM	Ignore drclark Report Abuse
	Same comment as yesterday on this article.
Thunder Rookie Author Orange County Posts:95 Points:64,175 Joined:Aug 2001	Message Posted: 7/27/2008 10:48:11 AM	Ignore Thunder Report Abuse
	When oil is $79 a barrel, then wake me up. In the meantime, let the free fall continue!
dreamweaver7050 Veteran Author Louisiana Posts:309 Points:406,240 Joined:Sep 2006	Message Posted: 7/27/2008 10:47:47 AM	Ignore dreamweaver7050 Report Abuse
	pumps will go back up
jrnascar Veteran Author Dayton Posts:255 Points:141,330 Joined:Jul 2006	Message Posted: 7/27/2008 10:46:32 AM	Ignore jrnascar Report Abuse
	old news...oil ended at $123 on Friday...Woohoo...keep going down.
gr8oakOH All-Star Author Akron Posts:717 Points:191,395 Joined:Nov 2007	Message Posted: 7/27/2008 10:42:00 AM	Ignore gr8oakOH Report Abuse
	old news is correct it has now gone down to $123.00 per barrel & dropping like a rock
rowansysco All-Star Author Louisville Posts:973 Points:272,060 Joined:May 2007	Message Posted: 7/27/2008 10:41:06 AM	Ignore rowansysco Report Abuse
	old news!!!
laddyboy62 Champion Author Riverside Posts:1,210 Points:921,185 Joined:Mar 2005	Message Posted: 7/27/2008 10:40:30 AM	Ignore laddyboy62 Report Abuse
	stale
vgahuja Sophomore Author Toronto Posts:155 Points:38,855 Joined:Jan 2008	Message Posted: 7/27/2008 10:39:02 AM	Ignore vgahuja Report Abuse
	old news
oncotime Champion Author Milwaukee Posts:8,916 Points:1,582,620 Joined:May 2003	Message Posted: 7/27/2008 10:36:34 AM	Ignore oncotime Report Abuse
	ok
kidmikey37 All-Star Author Nevada Posts:502 Points:128,530 Joined:Apr 2008	Message Posted: 7/27/2008 10:35:43 AM	Ignore kidmikey37 Report Abuse
	technical bounce, 10 yards,loss of down, man i miss football
woos777 Champion Author Washington Posts:1,248 Points:597,980 Joined:Sep 2006	Message Posted: 7/27/2008 10:35:38 AM	Ignore woos777 Report Abuse
	$123.26 now.
gasman50 Champion Author Portland Posts:1,018 Points:750,225 Joined:Nov 2005	Message Posted: 7/27/2008 10:32:40 AM	Ignore gasman50 Report Abuse
	Down baby, down
TeachR06 All-Star Author Raleigh Posts:674 Points:412,980 Joined:Sep 2006	Message Posted: 7/27/2008 10:29:07 AM	Ignore TeachR06 Report Abuse
	Hopefully it will continue to fall and this is a small correction due to selling and buying.
zonernovi All-Star Author Michigan Posts:953 Points:188,340 Joined:May 2005	Message Posted: 7/27/2008 10:26:42 AM	Ignore zonernovi Report Abuse
	will keep on falling
Z133 Rookie Author Twin Cities Posts:38 Points:74,315 Joined:Jul 2007	Message Posted: 7/27/2008 10:26:12 AM	Ignore Z133 Report Abuse
	old news
mplato All-Star Author Columbia Posts:989 Points:363,945 Joined:Jun 2004	Message Posted: 7/27/2008 10:25:29 AM	Ignore mplato Report Abuse
	yo yo ... or roller coaster?
GooseMI Champion Author Grand Rapids Posts:1,335 Points:308,440 Joined:Sep 2007	Message Posted: 7/27/2008 10:23:47 AM	Ignore GooseMI Report Abuse
	And you know that a reporter will find someone who is complaining about the gas price fall in a speculator driven, irrational, risk based, missle firing, warmongering, supply and demand, manipulated view point.
kevski All-Star Author Oregon Posts:985 Points:131,475 Joined:Feb 2008	Message Posted: 7/27/2008 10:23:23 AM	Ignore kevski Report Abuse
	the week overall was down which is good
4warned All-Star Author Michigan Posts:851 Points:546,290 Joined:Nov 2006	Message Posted: 7/27/2008 10:20:04 AM	Ignore 4warned Report Abuse
	All we can do is wait and see and do the best we can to conserve.
Pede All-Star Author New Jersey Posts:743 Points:97,745 Joined:Apr 2007	Message Posted: 7/27/2008 10:12:53 AM	Ignore Pede Report Abuse
	It better go down a lot more or this winter there will be a lot of seniors and retired citizens
bicycler Champion Author Ontario Posts:5,732 Points:1,047,920 Joined:May 2005	Message Posted: 7/27/2008 10:08:57 AM	Ignore bicycler Report Abuse
	Traders use any excuse to cover their greedy speculating trading!
thwadi Veteran Author Cleveland Posts:272 Points:90,660 Joined:Mar 2008	Message Posted: 7/27/2008 10:05:26 AM	Ignore thwadi Report Abuse
	Get the dollar back on par with the Euro and it is less than $65 dollars.
bug27 Champion Author Kentucky Posts:1,598 Points:1,101,250 Joined:Apr 2005	Message Posted: 7/27/2008 10:03:21 AM	Ignore bug27 Report Abuse
	Old news.
TheThing All-Star Author Quebec Posts:595 Points:158,400 Joined:Mar 2008	Message Posted: 7/27/2008 9:55:56 AM	Ignore TheThing Report Abuse
	Old
rbdesigns Veteran Author Modesto Posts:370 Points:102,820 Joined:May 2008	Message Posted: 7/27/2008 9:55:43 AM	Ignore rbdesigns Report Abuse
	Thank goodness it seems to be going down all over the U.S.
rockinrog All-Star Author Ontario Posts:514 Points:611,975 Joined:May 2006	Message Posted: 7/27/2008 9:51:44 AM	Ignore rockinrog Report Abuse
	One good scare of a hurricane in the gulf of Mexico and BOOM...right back up!
Gassie1 Champion Author Akron Posts:4,025 Points:492,460 Joined:Apr 2007	Message Posted: 7/27/2008 9:50:48 AM	Ignore Gassie1 Report Abuse
	The trend is down for the time being