Oil price jumps above $119 a barrel

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Tuesday, December 02, 2008 11:47:30 PM

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GasBuddy News Article

Oil price jumps above $119 a barrel Thursday, August 21, 2008
CNN International -- NEW YORK (AP) -- Oil prices jumped above $119 Thursday as rising antagonism with Russia underscored the possibility it could affect energy shipments from the world's second-largest oil producer. The weakening U.S. dollar, a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September all helped push prices higher. By the afternoon in Europe, light, sweet crude for October delivery was up $3.84 at $119.40 a barrel on the New York Mercantile Exchange. The contract rose $1.01 overnight to settle at $115.56 a barrel.
Visit CNN International for full article

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JT Moderator	Message Posted: 8/21/2008 9:19:51 AM	Ignore JT Report Abuse
	Thursday, August 21, 2008 CNN International -- NEW YORK (AP) -- Oil prices jumped above $119 Thursday as rising antagonism with Russia underscored the possibility it could affect energy shipments from the world's second-largest oil producer. The weakening U.S. dollar, a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September all helped push prices higher. By the afternoon in Europe, light, sweet crude for October delivery was up $3.84 at $119.40 a barrel on the New York Mercantile Exchange. The contract rose $1.01 overnight to settle at $115.56 a barrel. Visit CNN International for full article

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no1doc Champion Author Milwaukee Posts:1,045 Points:177,850 Joined:Oct 2007	Message Posted: 8/22/2008 9:54:53 AM	Ignore no1doc Report Abuse
	Well today the price has already dropped $3
USAFA82 Champion Author Colorado Springs Posts:1,591 Points:271,445 Joined:Feb 2008	Message Posted: 8/22/2008 9:20:58 AM	Ignore USAFA82 Report Abuse
	We need to drill our own oil and eventually get off of it altogether.
AlaRedNeck Champion Author Kansas Posts:1,233 Points:221,800 Joined:Apr 2008	Message Posted: 8/22/2008 9:19:23 AM	Ignore AlaRedNeck Report Abuse
	Gas prices dropped another $.02 here yesterday, but with this continuing it will start back up.
gashog4x4 Rookie Author Arizona Posts:63 Points:103,095 Joined:Jun 2008	Message Posted: 8/22/2008 9:19:05 AM	Ignore gashog4x4 Report Abuse
	With the news about the possible conflict between Iran and Kuwait, huh, you ain't seen nothin' yet baby. Lets hope for peace in the middle east, make a parking lot out of it! After that, the oil's free!!
mooneagle All-Star Author Oklahoma City Posts:732 Points:152,115 Joined:Jun 2008	Message Posted: 8/22/2008 9:14:32 AM	Ignore mooneagle Report Abuse
	ride the roller coaster
plumb37 Champion Author Quebec Posts:2,521 Points:110,005 Joined:Jun 2008	Message Posted: 8/22/2008 9:10:12 AM	Ignore plumb37 Report Abuse
	Grow, grow here, grow now!
NavyEOD Champion Author Los Angeles Posts:2,021 Points:443,290 Joined:Jul 2007	Message Posted: 8/22/2008 9:09:56 AM	Ignore NavyEOD Report Abuse
	Stop speculating.
niceguytx Champion Author Houston Posts:5,756 Points:1,116,720 Joined:Sep 2005	Message Posted: 8/22/2008 9:09:45 AM	Ignore niceguytx Report Abuse
	So are prices going up or down? I am afraid we may see higher prices next.
gasman50 Champion Author Portland Posts:1,363 Points:831,325 Joined:Nov 2005	Message Posted: 8/22/2008 9:08:55 AM	Ignore gasman50 Report Abuse
	Drill, drill here, drill now!
LaCajunDJ Veteran Author Louisiana Posts:414 Points:95,230 Joined:Jul 2008	Message Posted: 8/22/2008 9:08:44 AM	Ignore LaCajunDJ Report Abuse
	Old news!!!
plumb37 Champion Author Quebec Posts:2,521 Points:110,005 Joined:Jun 2008	Message Posted: 8/22/2008 9:07:29 AM	Ignore plumb37 Report Abuse
	Ha, you lower mileage and they will lower supply.
plumb37 Champion Author Quebec Posts:2,521 Points:110,005 Joined:Jun 2008	Message Posted: 8/22/2008 9:06:00 AM	Ignore plumb37 Report Abuse
	No, the answer is, Grow here ... Grow now
flatcoatfun All-Star Author Orlando Posts:668 Points:200,515 Joined:Nov 2007	Message Posted: 8/22/2008 9:04:58 AM	Ignore flatcoatfun Report Abuse
	No kidding they want to keep prices higher - the market is being manipulated. Keep conserving and driving less and drive those prices lower!
Kthyme Champion Author Fort Worth Posts:2,739 Points:888,290 Joined:Apr 2006	Message Posted: 8/22/2008 9:03:21 AM	Ignore Kthyme Report Abuse
	And the answer is: Drill Here...Drill Now!!! ;)
metronj Veteran Author New Jersey Posts:286 Points:122,775 Joined:Jun 2008	Message Posted: 8/22/2008 8:59:54 AM	Ignore metronj Report Abuse
	Go hybrid
plumb37 Champion Author Quebec Posts:2,521 Points:110,005 Joined:Jun 2008	Message Posted: 8/22/2008 8:59:48 AM	Ignore plumb37 Report Abuse
	Wasn't that a party?
aalix Champion Author Orange County Posts:14,627 Points:2,544,230 Joined:Aug 2001	Message Posted: 8/22/2008 8:58:10 AM	Ignore aalix Report Abuse
	Ooops, is the party over?
CheapoBob Champion Author Alabama Posts:1,440 Points:965,185 Joined:Apr 2005	Message Posted: 8/22/2008 8:54:39 AM	Ignore CheapoBob Report Abuse
	wrong way
plumb37 Champion Author Quebec Posts:2,521 Points:110,005 Joined:Jun 2008	Message Posted: 8/22/2008 8:53:39 AM	Ignore plumb37 Report Abuse
	Its up, its down. This is ridiculus. High or low, set a price and leave it there. Damn Aaarabs.
DarthDadJr Veteran Author Virginia Posts:478 Points:99,155 Joined:Jul 2008	Message Posted: 8/22/2008 8:52:00 AM	Ignore DarthDadJr Report Abuse
	Just a temporary speculation bubble around the crap going on with Russia and Georgia...the trend is still down.
NissanGirl Veteran Author Oregon Posts:304 Points:171,605 Joined:Jan 2008	Message Posted: 8/22/2008 8:49:59 AM	Ignore NissanGirl Report Abuse
	What a shame. I was hoping that the prices would continue to fall.
greywolves Champion Author Las Vegas Posts:1,237 Points:946,875 Joined:Dec 2004	Message Posted: 8/22/2008 8:47:58 AM	Ignore greywolves Report Abuse
	the trend is down, as the speculative bubble deflates
slarttybartfast All-Star Author Hamilton Posts:700 Points:158,450 Joined:Jan 2007	Message Posted: 8/22/2008 8:46:44 AM	Ignore slarttybartfast Report Abuse
	I hope they don't go to war over oil again eh mr bush?
Gerund1 Champion Author Toronto Posts:1,166 Points:830,985 Joined:Apr 2003	Message Posted: 8/22/2008 8:43:54 AM	Ignore Gerund1 Report Abuse
	First its up, then its down and where it stops, nobody knows. Dive, dive I say.
gasngogoGA Sophomore Author Atlanta Posts:238 Points:58,630 Joined:Aug 2008	Message Posted: 8/22/2008 8:42:09 AM	Ignore gasngogoGA Report Abuse
	Did somebody say oil was up?
oncotime Champion Author Milwaukee Posts:9,358 Points:1,666,695 Joined:May 2003	Message Posted: 8/22/2008 8:41:52 AM	Ignore oncotime Report Abuse
	like a day at Six Flags!!
dodge_rt Champion Author Regina Posts:10,030 Points:1,857,560 Joined:May 2003	Message Posted: 8/22/2008 8:40:12 AM	Ignore dodge_rt Report Abuse
	what else is new?
irish15pilot All-Star Author Charleston Posts:575 Points:963,355 Joined:Feb 2005	Message Posted: 8/22/2008 8:39:53 AM	Ignore irish15pilot Report Abuse
	At Speedway today, the price went from $3.75 to $3.85 at 10:00 am.
ramshot412 Champion Author Riverside Posts:12,036 Points:1,206,605 Joined:Apr 2004	Message Posted: 8/22/2008 8:38:49 AM	Ignore ramshot412 Report Abuse
	We pay good money to get the rest of the world to do what we say.... Why don't they listen when we tell them to do things they don't want to?
copperhead8 Champion Author Boston Posts:5,588 Points:1,218,045 Joined:Dec 2004	Message Posted: 8/22/2008 8:36:36 AM	Ignore copperhead8 Report Abuse
	Don't go up again.
throttle Champion Author Maryland Posts:4,645 Points:1,033,725 Joined:Jul 2004	Message Posted: 8/22/2008 8:33:36 AM	Ignore throttle Report Abuse
	Uh oh.
esquared Champion Author Oklahoma City Posts:1,458 Points:641,745 Joined:Jan 2006	Message Posted: 8/22/2008 8:30:26 AM	Ignore esquared Report Abuse
	Gasoline prices followed suit this morning!
RC_RACER Champion Author Tacoma Posts:1,284 Points:278,375 Joined:Jun 2004	Message Posted: 8/22/2008 8:26:51 AM	Ignore RC_RACER Report Abuse
	the last three days here the retail prices have went down2-4 cents a day.
SLAPSHOT351 Veteran Author Long Island Posts:413 Points:85,540 Joined:Jul 2008	Message Posted: 8/22/2008 8:26:18 AM	Ignore SLAPSHOT351 Report Abuse
	Some stations up as much as 10 cents this morning.
eaglev Champion Author Oklahoma City Posts:1,038 Points:344,045 Joined:Jul 2005	Message Posted: 8/22/2008 8:24:34 AM	Ignore eaglev Report Abuse
	Our gas prices are going up today.
jadeusa All-Star Author Dallas Posts:992 Points:242,380 Joined:Sep 2005	Message Posted: 8/22/2008 8:24:00 AM	Ignore jadeusa Report Abuse
	Wonder if the downturn will take back over after the middle of September when driving should really turn down in US. Also reading where China has dropped their consumption numbers on a downward trend. OPEC may cut production, but consumption falls may continue to pull price down. Futures numbers by speculators can last only so long, then they will make money on shorting. Should be around $70 -$80 Bbl. per a number of studies by Petro experts.
Pseudorious Veteran Author Philadelphia Posts:499 Points:225,875 Joined:Sep 2005	Message Posted: 8/22/2008 8:24:00 AM	Ignore Pseudorious Report Abuse
	Noticed.
TCOR78 Rookie Author Ohio Posts:43 Points:23,865 Joined:Jun 2008	Message Posted: 8/22/2008 8:21:07 AM	Ignore TCOR78 Report Abuse
	AS OF 10:14 EST OIL IS AT $119.29 PER BARREL. THIS IS DUE TO THE SITUATION IN RUSSIA. WE HAVE TO STOP RELYING ON OTHERS FOR OUR OIL. PELOSI AND DINGY HARRY AND THE REST OF THE CONGRESS NEED TO GET OFF THEIR BEHINDS AND GET A BILL PASSED TO START DRILLING NOW!!!!!!!!!!!!!!!!!! I'M TIRED OF CONGRESS PLAYING POLITICS WITH OUR MONEY!!!!!!!!!!!!! REMEMBER GOVERNMENT BY THE PEOPLE FOR THE PEOPLE???????????????
Gassie1 Champion Author Akron Posts:4,458 Points:576,760 Joined:Apr 2007	Message Posted: 8/22/2008 8:20:32 AM	Ignore Gassie1 Report Abuse
	Wrong direction
bluebird1 Champion Author Toronto Posts:7,415 Points:1,510,525 Joined:May 2004	Message Posted: 8/22/2008 8:19:42 AM	Ignore bluebird1 Report Abuse
	Must be nice tabasco, I paid $5.75/gal. Cdn yesterday & it's now $5.80/gal.
tobasco Champion Author Los Angeles Posts:3,164 Points:842,570 Joined:Mar 2004	Message Posted: 8/22/2008 8:17:58 AM	Ignore tobasco Report Abuse
	Paid $3.85 yesterday....Woooohoooo!
The_WB Champion Author Detroit Posts:4,659 Points:490,875 Joined:Apr 2007	Message Posted: 8/22/2008 8:17:56 AM	Ignore The_WB Report Abuse
	Over $120/bbl now.
ScottE Champion Author Los Angeles Posts:2,846 Points:891,080 Joined:May 2002	Message Posted: 8/22/2008 8:17:35 AM	Ignore ScottE Report Abuse
	this is extremly not good...This russia RUSE is tense with us is some B.S. the ruskies need intl sanctions for there blatant attack staged for the opening of usually neutral - truce time Olympics... C'mon America Sprinter, learn to pass the stinkin baton.
Chazzer Champion Author Nevada Posts:8,137 Points:1,740,610 Joined:May 2002	Message Posted: 8/22/2008 8:16:34 AM	Ignore Chazzer Report Abuse
	Here we go on a rocket ride ... again!
Don20 Champion Author Oklahoma City Posts:1,587 Points:1,025,670 Joined:Mar 2005	Message Posted: 8/22/2008 8:14:17 AM	Ignore Don20 Report Abuse
	Any excuse will do, how about Holiday comeing up...
maindrag All-Star Author Ontario Posts:825 Points:36,260 Joined:Dec 2005	Message Posted: 8/22/2008 8:13:37 AM	Ignore maindrag Report Abuse
	any excuse will do. we need to cater just to our private gas stations, own by the little guy. If we do this, it will bring prices down. in sarnia it is privately owned. a little farther drive, but worth the cause. u will see the results if u do this and the price is the cheapest.
lucky69 All-Star Author Austin Posts:651 Points:173,635 Joined:May 2008	Message Posted: 8/22/2008 8:08:13 AM	Ignore lucky69 Report Abuse
	That's not good to hear.
evasilion All-Star Author Virginia Beach Posts:701 Points:132,320 Joined:Mar 2008	Message Posted: 8/22/2008 8:05:16 AM	Ignore evasilion Report Abuse
	OPEC?
Blackice Champion Author Twin Cities Posts:1,825 Points:501,870 Joined:Oct 2003	Message Posted: 8/22/2008 8:02:15 AM	Ignore Blackice Report Abuse
	If the price of gas jumped up yesterday or day at the pump...its because the weekend is almost here. You all so know this by now.
tbybee Veteran Author Omaha Posts:327 Points:114,650 Joined:Apr 2008	Message Posted: 8/22/2008 7:59:37 AM	Ignore tbybee Report Abuse
	Prices jumped 20 cents here yesterday