Oil price jumps above $119 a barrel

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Friday, November 21, 2008 2:48:28 AM

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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 11:19:51 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 All-Star Author Milwaukee Posts:920 Points:166,925 Joined:Oct 2007	Message Posted: 8/22/2008 11:54:53 AM	Ignore no1doc Report Abuse
	Well today the price has already dropped $3
USAFA82 Champion Author Colorado Springs Posts:1,521 Points:259,545 Joined:Feb 2008	Message Posted: 8/22/2008 11:20:58 AM	Ignore USAFA82 Report Abuse
	We need to drill our own oil and eventually get off of it altogether.
AlaRedNeck Champion Author Kansas Posts:1,177 Points:210,875 Joined:Apr 2008	Message Posted: 8/22/2008 11:19:23 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:56 Points:96,755 Joined:Jun 2008	Message Posted: 8/22/2008 11:19:05 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:669 Points:140,215 Joined:Jun 2008	Message Posted: 8/22/2008 11:14:32 AM	Ignore mooneagle Report Abuse
	ride the roller coaster
plumb37 Champion Author Quebec Posts:2,356 Points:98,800 Joined:Jun 2008	Message Posted: 8/22/2008 11:10:12 AM	Ignore plumb37 Report Abuse
	Grow, grow here, grow now!
NavyEOD Champion Author Los Angeles Posts:1,961 Points:431,390 Joined:Jul 2007	Message Posted: 8/22/2008 11:09:56 AM	Ignore NavyEOD Report Abuse
	Stop speculating.
niceguytx Champion Author Houston Posts:5,696 Points:1,104,820 Joined:Sep 2005	Message Posted: 8/22/2008 11:09:45 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:1,315 Points:820,515 Joined:Nov 2005	Message Posted: 8/22/2008 11:08:55 AM	Ignore gasman50 Report Abuse
	Drill, drill here, drill now!
LaCajunDJ Veteran Author Louisiana Posts:384 Points:89,180 Joined:Jul 2008	Message Posted: 8/22/2008 11:08:44 AM	Ignore LaCajunDJ Report Abuse
	Old news!!!
plumb37 Champion Author Quebec Posts:2,356 Points:98,800 Joined:Jun 2008	Message Posted: 8/22/2008 11:07:29 AM	Ignore plumb37 Report Abuse
	Ha, you lower mileage and they will lower supply.
plumb37 Champion Author Quebec Posts:2,356 Points:98,800 Joined:Jun 2008	Message Posted: 8/22/2008 11:06:00 AM	Ignore plumb37 Report Abuse
	No, the answer is, Grow here ... Grow now
flatcoatfun All-Star Author Orlando Posts:651 Points:195,700 Joined:Nov 2007	Message Posted: 8/22/2008 11:04:58 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:2,671 Points:876,390 Joined:Apr 2006	Message Posted: 8/22/2008 11:03:21 AM	Ignore Kthyme Report Abuse
	And the answer is: Drill Here...Drill Now!!! ;)
metronj Veteran Author New Jersey Posts:282 Points:121,820 Joined:Jun 2008	Message Posted: 8/22/2008 10:59:54 AM	Ignore metronj Report Abuse
	Go hybrid
plumb37 Champion Author Quebec Posts:2,356 Points:98,800 Joined:Jun 2008	Message Posted: 8/22/2008 10:59:48 AM	Ignore plumb37 Report Abuse
	Wasn't that a party?
aalix Champion Author Orange County Posts:14,560 Points:2,532,330 Joined:Aug 2001	Message Posted: 8/22/2008 10:58:10 AM	Ignore aalix Report Abuse
	Ooops, is the party over?
CheapoBob Champion Author Alabama Posts:1,380 Points:953,285 Joined:Apr 2005	Message Posted: 8/22/2008 10:54:39 AM	Ignore CheapoBob Report Abuse
	wrong way
plumb37 Champion Author Quebec Posts:2,356 Points:98,800 Joined:Jun 2008	Message Posted: 8/22/2008 10:53:39 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:457 Points:95,310 Joined:Jul 2008	Message Posted: 8/22/2008 10:52:00 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:302 Points:166,740 Joined:Jan 2008	Message Posted: 8/22/2008 10:49:59 AM	Ignore NissanGirl Report Abuse
	What a shame. I was hoping that the prices would continue to fall.
greywolves Champion Author Las Vegas Posts:1,177 Points:935,725 Joined:Dec 2004	Message Posted: 8/22/2008 10:47:58 AM	Ignore greywolves Report Abuse
	the trend is down, as the speculative bubble deflates
slarttybartfast All-Star Author Hamilton Posts:655 Points:147,990 Joined:Jan 2007	Message Posted: 8/22/2008 10:46:44 AM	Ignore slarttybartfast Report Abuse
	I hope they don't go to war over oil again eh mr bush?
Gerund1 Champion Author Toronto Posts:1,147 Points:828,105 Joined:Apr 2003	Message Posted: 8/22/2008 10:43:54 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 10:42:09 AM	Ignore gasngogoGA Report Abuse
	Did somebody say oil was up?
oncotime Champion Author Milwaukee Posts:9,290 Points:1,654,795 Joined:May 2003	Message Posted: 8/22/2008 10:41:52 AM	Ignore oncotime Report Abuse
	like a day at Six Flags!!
dodge_rt Champion Author Regina Posts:9,972 Points:1,846,635 Joined:May 2003	Message Posted: 8/22/2008 10:40:12 AM	Ignore dodge_rt Report Abuse
	what else is new?
irish15pilot All-Star Author Charleston Posts:575 Points:952,655 Joined:Feb 2005	Message Posted: 8/22/2008 10:39:53 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:11,938 Points:1,195,960 Joined:Apr 2004	Message Posted: 8/22/2008 10:38:49 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:5,485 Points:1,206,145 Joined:Dec 2004	Message Posted: 8/22/2008 10:36:36 AM	Ignore copperhead8 Report Abuse
	Don't go up again.
throttle Champion Author Maryland Posts:4,583 Points:1,021,825 Joined:Jul 2004	Message Posted: 8/22/2008 10:33:36 AM	Ignore throttle Report Abuse
	Uh oh.
esquared Champion Author Oklahoma City Posts:1,406 Points:630,950 Joined:Jan 2006	Message Posted: 8/22/2008 10:30:26 AM	Ignore esquared Report Abuse
	Gasoline prices followed suit this morning!
RC_RACER Champion Author Tacoma Posts:1,224 Points:268,725 Joined:Jun 2004	Message Posted: 8/22/2008 10:26:51 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:380 Points:78,525 Joined:Jul 2008	Message Posted: 8/22/2008 10:26:18 AM	Ignore SLAPSHOT351 Report Abuse
	Some stations up as much as 10 cents this morning.
eaglev All-Star Author Oklahoma City Posts:978 Points:332,145 Joined:Jul 2005	Message Posted: 8/22/2008 10:24:34 AM	Ignore eaglev Report Abuse
	Our gas prices are going up today.
jadeusa All-Star Author Dallas Posts:922 Points:230,275 Joined:Sep 2005	Message Posted: 8/22/2008 10:24:00 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:474 Points:220,575 Joined:Sep 2005	Message Posted: 8/22/2008 10:24:00 AM	Ignore Pseudorious Report Abuse
	Noticed.
TCOR78 Rookie Author Ohio Posts:43 Points:22,015 Joined:Jun 2008	Message Posted: 8/22/2008 10:21:07 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:4,397 Points:564,860 Joined:Apr 2007	Message Posted: 8/22/2008 10:20:32 AM	Ignore Gassie1 Report Abuse
	Wrong direction
bluebird1 Champion Author Toronto Posts:7,352 Points:1,498,625 Joined:May 2004	Message Posted: 8/22/2008 10:19:42 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:3,112 Points:833,220 Joined:Mar 2004	Message Posted: 8/22/2008 10:17:58 AM	Ignore tobasco Report Abuse
	Paid $3.85 yesterday....Woooohoooo!
The_WB Champion Author Detroit Posts:4,521 Points:478,975 Joined:Apr 2007	Message Posted: 8/22/2008 10:17:56 AM	Ignore The_WB Report Abuse
	Over $120/bbl now.
ScottE Champion Author Los Angeles Posts:2,816 Points:882,550 Joined:May 2002	Message Posted: 8/22/2008 10:17:35 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:8,086 Points:1,730,660 Joined:May 2002	Message Posted: 8/22/2008 10:16:34 AM	Ignore Chazzer Report Abuse
	Here we go on a rocket ride ... again!
Don20 Champion Author Oklahoma City Posts:1,525 Points:1,013,770 Joined:Mar 2005	Message Posted: 8/22/2008 10:14:17 AM	Ignore Don20 Report Abuse
	Any excuse will do, how about Holiday comeing up...
maindrag All-Star Author Ontario Posts:796 Points:34,715 Joined:Dec 2005	Message Posted: 8/22/2008 10:13:37 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:601 Points:161,935 Joined:May 2008	Message Posted: 8/22/2008 10:08:13 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 10:05:16 AM	Ignore evasilion Report Abuse
	OPEC?
Blackice Champion Author Twin Cities Posts:1,797 Points:496,535 Joined:Oct 2003	Message Posted: 8/22/2008 10:02:15 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:297 Points:108,600 Joined:Apr 2008	Message Posted: 8/22/2008 9:59:37 AM	Ignore tbybee Report Abuse
	Prices jumped 20 cents here yesterday