Oil rises more than $3 on banks rescue

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JT Moderator	Message Posted: 10/14/2008 9:48:54 AM	Ignore JT Report Abuse
	Tuesday, October 14, 2008 Reuters -- LONDON (Reuters) - Oil rose more than $3 on Tuesday, extending the previous session's 4 percent gain, as investors' confidence over government moves to shore up banks offset expectations of a global recession. Global markets powered ahead, with European and Asian markets following Wall Street's lead after governments around the world bet hundreds of billions of dollars to shore up ailing banks. U.S. crude gained $3.11 to $84.30 a barrel by 6 a.m. EDT, just off a session high of $84.53, as concerns over the impact of the financial crisis on oil demand eased. London Brent crude rose $2.60 to $80.06. Visit Reuters for full article

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1DON1 Champion Author Jacksonville Posts:8,973 Points:1,122,550 Joined:Oct 2005	Message Posted: 10/17/2008 10:26:00 AM	Ignore 1DON1 Report Abuse
	If it were the oil companies that made it go up, then explain why they are letting it go down. You are buying at todays price so why let it go down no matter what the price of crude is. That is a future price market. The oil companies need to make a profit and gummint needs to mind their own business. Gummint is the reason we have shortages and have to buy foreign oil; ask them to remove their unearned profit from the price of a gallon of gas. Ride a bike or walk to work or wherever if you don't like the prices.
MacGyver_1701 Champion Author Indiana Posts:5,249 Points:1,155,300 Joined:Feb 2005	Message Posted: 10/15/2008 12:52:06 PM	Ignore MacGyver_1701 Report Abuse
	OIL must fall. Then this whole banking mess will probably be fixed.
EarlyMoose Champion Author Seattle Posts:1,879 Points:701,805 Joined:Dec 2005	Message Posted: 10/15/2008 10:25:37 AM	Ignore EarlyMoose Report Abuse
	Vote out ALL incumbents!
Kthyme Champion Author Fort Worth Posts:2,749 Points:890,240 Joined:Apr 2006	Message Posted: 10/15/2008 10:05:49 AM	Ignore Kthyme Report Abuse
	Listen to wwcj! We better keep our ears open and get ready to push these people saying one thing and really planning on doing the opposite! VOTE THE OUT!!! DRILL NOW...DRILL HERE...PAY LESS!!! Listen to Palin...she wants to drill in Alaska!!! ;)
ramshot412 Champion Author Riverside Posts:12,062 Points:1,208,555 Joined:Apr 2004	Message Posted: 10/15/2008 10:05:13 AM	Ignore ramshot412 Report Abuse
	If we fix the "financial crisis" the economy will improve and prices will rise....
915Chief All-Star Author San Diego Posts:578 Points:112,370 Joined:Aug 2008	Message Posted: 10/15/2008 10:00:21 AM	Ignore 915Chief Report Abuse
	That's speculators hoping....Conservation and domestic drilling will keep them and OPEC on the short leash.
Gerund1 Champion Author Toronto Posts:1,166 Points:830,985 Joined:Apr 2003	Message Posted: 10/15/2008 9:57:47 AM	Ignore Gerund1 Report Abuse
	Yep, then it went down, is goin down today as well.
NissanGirl Veteran Author Oregon Posts:304 Points:173,105 Joined:Jan 2008	Message Posted: 10/15/2008 9:56:01 AM	Ignore NissanGirl Report Abuse
	Great... There goes the prices again.
wwcj Veteran Author Virginia Posts:373 Points:92,955 Joined:Jul 2008	Message Posted: 10/15/2008 9:53:11 AM	Ignore wwcj Report Abuse
	The Cost of Crude is bouncing as much as the markets, Nymex Crude Future today is 75.42 which is -3.21 since this morning. This is why we need to insure that the Drill Now, Drill often, will happen in the next congress. We should only elect Senators and House members that promise to vote for Drilling. Serious rumors are that Pelosi and Reed will re-invoke the drilling band right after the elections. This will happen wether Obama is elected or not. Need to keep the pressure on congress. If you want lower energy prices, we have to have use all sources of energy, especially the kinds that Democrats do want us to use, like nuclear power. Remember, Nancy Pelosi, thinks she is in office to 'save the planet,'
noelblak Sophomore Author Oregon Posts:184 Points:162,460 Joined:Sep 2005	Message Posted: 10/15/2008 9:49:36 AM	Ignore noelblak Report Abuse
	HMMMMMMMMMMM
VicSam Rookie Author San Antonio Posts:22 Points:32,840 Joined:Mar 2008	Message Posted: 10/15/2008 9:48:05 AM	Ignore VicSam Report Abuse
	Even when the prices are going down, ... eventually they'll go up again. We need to continue developing alternative fuels vehicles!
2000buick All-Star Author Akron Posts:648 Points:111,650 Joined:Aug 2008	Message Posted: 10/15/2008 9:40:05 AM	Ignore 2000buick Report Abuse
	...and it's down today as well as the Dow.
w4kh Champion Author Riverside Posts:3,730 Points:654,795 Joined:May 2004	Message Posted: 10/15/2008 9:38:24 AM	Ignore w4kh Report Abuse
	For now, speculation in oil futures has calmed down... demand has dropped off (but nowhere near what it needs to drop by) and OPEC is beginning to squawk... We need to kick our oil addiction and serious seek alternatives, especially in transportation - we have driven solo, willy-nilly for far too long
TBONE3 All-Star Author Pennsylvania Posts:672 Points:369,805 Joined:Mar 2005	Message Posted: 10/15/2008 9:38:16 AM	Ignore TBONE3 Report Abuse
	Couldn't wait, could they?
Chazzer Champion Author Nevada Posts:8,147 Points:1,742,560 Joined:May 2002	Message Posted: 10/15/2008 9:36:37 AM	Ignore Chazzer Report Abuse
	Here we go again!
Cuzilla Champion Author Indianapolis Posts:6,026 Points:1,012,375 Joined:Sep 2005	Message Posted: 10/15/2008 9:35:15 AM	Ignore Cuzilla Report Abuse
	Thanks for the news!
travelzonecente All-Star Author Riverside Posts:604 Points:160,580 Joined:Jun 2008	Message Posted: 10/15/2008 9:34:23 AM	Ignore travelzonecente Report Abuse
	Hopefully price will keep going back down. We need all the breaks we can get.
TommyTraveler Veteran Author Cincinnati Posts:478 Points:92,255 Joined:Nov 2007	Message Posted: 10/15/2008 9:33:12 AM	Ignore TommyTraveler Report Abuse
	Oil has dropped to $75.94 in early trading this mornong. Hopefully the $50 barrel of oil will be here soon and stay this way so the whole worlf can benefit not just a select few.
SeerLV All-Star Author Las Vegas Posts:597 Points:143,915 Joined:Jun 2008	Message Posted: 10/15/2008 9:30:57 AM	Ignore SeerLV Report Abuse
	Oil should go lower.
RAC110 Veteran Author Massachusetts Posts:290 Points:790,100 Joined:Mar 2003	Message Posted: 10/15/2008 9:29:37 AM	Ignore RAC110 Report Abuse
	Should not have kept banks going . HA HA
jjulson All-Star Author North Dakota Posts:881 Points:312,390 Joined:Mar 2007	Message Posted: 10/15/2008 9:29:17 AM	Ignore jjulson Report Abuse
	interesting
krucker All-Star Author Austin Posts:616 Points:431,955 Joined:Aug 2004	Message Posted: 10/15/2008 9:27:20 AM	Ignore krucker Report Abuse
	UP DOWN...........UP DOWN!!!
phatride92 Champion Author Kansas Posts:3,820 Points:953,255 Joined:Oct 2005	Message Posted: 10/15/2008 9:24:07 AM	Ignore phatride92 Report Abuse
	dribble
Don20 Champion Author Oklahoma City Posts:1,597 Points:1,027,620 Joined:Mar 2005	Message Posted: 10/15/2008 9:21:37 AM	Ignore Don20 Report Abuse
	It also went down $6.00 the day before that. Spot price today $76.90.
racerdj Champion Author Indianapolis Posts:1,698 Points:446,035 Joined:Jun 2003	Message Posted: 10/15/2008 9:21:20 AM	Ignore racerdj Report Abuse
	On bloomberg.com, oil is closing in on $70!
ChiefDrake Sophomore Author Dallas Posts:122 Points:42,465 Joined:Aug 2008	Message Posted: 10/15/2008 9:21:14 AM	Ignore ChiefDrake Report Abuse
	Investors are the only people who are not benefitting from lower fuel prices. The other 98% world population wreaks GREAT benefits with more cash flow, and stimulating their own economies. Investors: you need to go back to school and study Economics 101 !!!
gordonfan05 Sophomore Author Illinois Posts:126 Points:184,140 Joined:Apr 2005	Message Posted: 10/15/2008 9:17:19 AM	Ignore gordonfan05 Report Abuse
	$76.30 now.
laddyboy62 Champion Author Riverside Posts:1,651 Points:1,008,185 Joined:Mar 2005	Message Posted: 10/15/2008 9:14:28 AM	Ignore laddyboy62 Report Abuse
	78$ this am...so far
jimraehl Rookie Author Utah Posts:66 Points:65,845 Joined:Sep 2008	Message Posted: 10/15/2008 9:14:16 AM	Ignore jimraehl Report Abuse
	My favorite commodity analyst says pops up in crude prices are selling opportunities. The commodity trend in general is down, due to deflation and a sinking world economy. I've read that the big financial shoes are yet to drop. Home construction loans by small banks. Financial loan insurance (if I recall correctly, something like $13 trillion). That will likely mean commodity prices heading for the basement, unless the US dollar becomes like the Reichsmark, in which case it will take a wheelbarrow of dollars to buy a loaf of bread. Life is interesting.
ooops Sophomore Author Virginia Posts:168 Points:24,165 Joined:Aug 2008	Message Posted: 10/15/2008 9:13:42 AM	Ignore ooops Report Abuse
	Still not low enough.
fastfreddy38 All-Star Author Ontario Posts:900 Points:922,210 Joined:Aug 2005	Message Posted: 10/15/2008 9:13:23 AM	Ignore fastfreddy38 Report Abuse
	Up and down up and down where does it end!!!
tapprach Rookie Author Michigan Posts:10 Points:1,650 Joined:Oct 2008	Message Posted: 10/15/2008 9:09:04 AM	Ignore tapprach Report Abuse
	We need to open more refineries to lower the overall demand on crude. Just remember - only buy it when you absolutely need it. No running to the station when the prices drop - it just increases the demand and prices go back up. Lets all be rational about all this.
PokerAce Champion Author Louisiana Posts:1,534 Points:310,005 Joined:Jan 2008	Message Posted: 10/15/2008 9:08:01 AM	Ignore PokerAce Report Abuse
	Bring it DOWN !!!!.....
tigeriz Veteran Author Maine Posts:302 Points:73,145 Joined:Aug 2008	Message Posted: 10/15/2008 9:07:27 AM	Ignore tigeriz Report Abuse
	It needs to keep going down!!
wizzard3040 Veteran Author St. Louis Posts:460 Points:182,475 Joined:May 2008	Message Posted: 10/15/2008 9:05:36 AM	Ignore wizzard3040 Report Abuse
	Global economic forcast is/has dropped over the EDGE!
NedW All-Star Author Indianapolis Posts:668 Points:169,280 Joined:Mar 2008	Message Posted: 10/15/2008 9:05:00 AM	Ignore NedW Report Abuse
	The trend of reducing the United States of American to 3rd world status by many in our own government and, seemingly, a few of its citizens, continues unabated. There’s a more ‘descriptive’ way of phrasing the last sentence but it would probably not be acceptable on this forum. Please contact your representatives and senators and hold them accountable to their sworn oath to "protect, preserve, and defend” our constitution! That is not only our right but, our responsibility. If you’re unsure of who’s yours are you can find out quickly, as well as how to contact them, by going to the following web sites: Senators www.senate.gov Congressperson www.house.gov
hank1326 All-Star Author Los Angeles Posts:580 Points:140,580 Joined:Jun 2008	Message Posted: 10/15/2008 9:03:53 AM	Ignore hank1326 Report Abuse
	Keep this trend down by keep on conserving.
falconmb Champion Author Austin Posts:13,794 Points:422,675 Joined:Jul 2007	Message Posted: 10/15/2008 9:03:12 AM	Ignore falconmb Report Abuse
	let it fall down and fall far
trucker090 Rookie Author Cleveland Posts:84 Points:65,835 Joined:Sep 2005	Message Posted: 10/15/2008 9:02:35 AM	Ignore trucker090 Report Abuse
	They need to go down and stay there.
SilverFoxHMT Veteran Author Riverside Posts:265 Points:131,105 Joined:May 2008	Message Posted: 10/15/2008 9:00:51 AM	Ignore SilverFoxHMT Report Abuse
	Down again today!
wizzard1222 Veteran Author St. Louis Posts:463 Points:717,850 Joined:Mar 2006	Message Posted: 10/15/2008 8:57:37 AM	Ignore wizzard1222 Report Abuse
	Crude below $75
js3519 Sophomore Author Indianapolis Posts:184 Points:49,705 Joined:Oct 2008	Message Posted: 10/15/2008 8:57:35 AM	Ignore js3519 Report Abuse
	down 2.21 to 76.42
Gassie1 Champion Author Akron Posts:4,468 Points:578,710 Joined:Apr 2007	Message Posted: 10/15/2008 8:55:26 AM	Ignore Gassie1 Report Abuse
	Oil price down again today
GooseMI Champion Author Grand Rapids Posts:1,778 Points:395,440 Joined:Sep 2007	Message Posted: 10/15/2008 8:55:24 AM	Ignore GooseMI Report Abuse
	How is the bank rescue linked to the price of oil? Are they grasping at straws?
markmoore80 All-Star Author North Carolina Posts:841 Points:290,280 Joined:Apr 2004	Message Posted: 10/15/2008 8:54:59 AM	Ignore markmoore80 Report Abuse
	Hold on - here we go again...
tomok Champion Author Portland Posts:9,935 Points:732,960 Joined:Aug 2006	Message Posted: 10/15/2008 8:53:42 AM	Ignore tomok Report Abuse
	Oil may go up for now or down like it is now BUT the price of oil needs to come down and go down some more. Conserve, conserve, conserve.....
ww2gas All-Star Author Virginia Posts:571 Points:245,455 Joined:May 2007	Message Posted: 10/15/2008 8:53:05 AM	Ignore ww2gas Report Abuse
	Let it fall!
marsjoe Sophomore Author Pittsburgh Posts:188 Points:109,420 Joined:Oct 2005	Message Posted: 10/15/2008 8:52:08 AM	Ignore marsjoe Report Abuse
	Keep on falling!!
hondajv Rookie Author Little Rock Posts:98 Points:19,705 Joined:Oct 2008	Message Posted: 10/15/2008 8:49:38 AM	Ignore hondajv Report Abuse
	oil is falling again ........ its now around $75.67/barrel
andyrew Veteran Author Baltimore Posts:255 Points:83,400 Joined:Aug 2008	Message Posted: 10/15/2008 8:47:26 AM	Ignore andyrew Report Abuse
	i still think a commodity such as oil that so many countries and industries are so dependant upon, should not be regulated by people that are only in it to turn a quick buck. oil and utilities SHOULD be regulated to keep just this from happening. look at what happens when industries are NOT regulated.... cable tv.... prices skyrocket. electricity.... prices skyrocket. none of these industries was suffering. but when its deregulated to 'improve competition and lower prices', its a scam to wrest control back and put the prices to whatever they want. oil needs to be regulated. profits are more than enough in the billions... they don't need 'a little more'.

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