Stressless

LONDON ? Oil prices fell below $97 a barrel on Monday after Hurricane Ike inflicted minimal damage to oil installations on the Texas coast.



Light, sweet crude for October delivery declined $4.39 to $96.79 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe. The contract rose 31 cents on Friday to settle at $101.18 after dropping as low as $99.99 per barrel. Before that, the last time Nymex crude traded below the $100 mark was April 2.

bluffman2

its 96.60 now

http://www.oil-price.net/

bluffman2

well it just went back up:banghead:banghead

seacapt

What were gas prices last time it was below $100.00?

hebegb

gas SHOULD be ~$2.60 based on oil



I am walking funny yet again courtesy of big oil :banghead:banghead:banghead:banghead

bluffman2

when the price per barrel was going up and it was at 100 bucks a barrel the national avg was 3 bucks a gallon.....now we are under 100 per barrel and gas it 4 bucks......its just plain weird....i guess its because we are using oil now that was bought for a higher price...

Framerguy

It is my opinion that the imbalance in oil going up and down and the retail not following suite is that the buying public isn't reflecting these higher prices in reduced purchases of gasoline! If the public is buying gasin the same quantity at $4.00/gal. as they did at $3.00/gal. the oil industry is gonna take the extra money and smile all the way to the bank!!

It doesn't do a whit's worth of good to bitch about higher prices if the buying public isn't willing to back off buying gas until it touches the pockets of the retailers which in turn will trickle back down the chain to the oil refiners. But that means enduring a bit of inconvenience once in awhile or putting off those little trips to Walley World or a restaurant or movies and stay at home more than usual.

It seems that we want things to go our way but we aren't willing to put forth any personal effort to get them the way we want them. Complaining about it sure doesn't seem like the solution to the problem to me.

Xanadu

They will try to say its a shortage of gas due to refinery damage/preventive closings due to the 2 hurricanes. I think that to some degree that's a reasonable argument, but the prices aren't going down as long as they can get us to pay what we're paying.

skullworks

Good Posting!!!!!:clap

Framerguy

I live up Rt. 331 and cross the bridge at least twice daily and I see so many fuel barges heading both directions on the Intercoastal that it is very hard for me to believe the fuel shortage excuses that the media uses so often.

Edit:

I also have been down to the Murphy Oil storage area on the South edge of Freeport 3 different times in the past week checking on the water level and there were 2 different tugs holding barges against their docks during unloading and the third time a tug was just leaving the docks with the unloaded barges.

Now someone somewhere is finding enough gas to keep this company in plenty of backup gas!!