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Oil prices may drop under $100 as jobs report spooks market

GasBuddy Blog -- The latest jobs report came out last week, but because of Good Friday, the market hasn't yet had the chance to react accordingly. Today is the first day since the release of the report that stocks and commodity trading is open- and it's looking like the report may just have sent more fear back in to the market.

Oil prices are down near $100 per barrel, and if things continue, oil may even drop under that magic triple digit level, which could possibly lead to further a sell-off as technical barriers are broken. Gasoline futures are also down to start the week, continuing last week's sell off after the Energy Information Administration report that showed refineries boosting utilization earlier than expected amid a 9 million barrel rise...

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Submitted Apr 09, 2012 By: PD

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BEAVER08 Rookie Author Albuquerque Posts:1 Points:470 Joined:Dec 2009	Message Posted: Apr 10, 2012 10:57:40 AM Ignore BEAVER08 Report Abuse SOME ONE SHOULD PUT OUT A "HIT" ON ALL THE SPECULATORS.......YEH!!!
eye-spy Champion Author Quebec Posts:4,588 Points:2,417,845 Joined:Feb 2005	Message Posted: Apr 10, 2012 10:55:15 AM Ignore eye-spy Report Abuse Oil drops...Gas goes up. Go figure!!!
reeneedan Champion Author San Jose Posts:1,200 Points:385,245 Joined:May 2011	Message Posted: Apr 10, 2012 10:54:43 AM Ignore reeneedan Report Abuse oil speculation is a legal way for big oil to fix prices
TXryder Champion Author Texas Posts:2,715 Points:433,705 Joined:Jan 2012	Message Posted: Apr 10, 2012 10:54:38 AM Ignore TXryder Report Abuse US crude did not drop below $101 yet and now edging back up some. Brent crude futures, where the ICE manipulators thrive is still up over $120/bbl. Oil will not come down substantially unless one of two things happen, A republican president gets voted in to whitehouse in Nov and crashes the economy like Bush. or republican corruption is erradicated entirely out of our fed gov.
matthwbar Champion Author Toledo Posts:4,068 Points:1,018,780 Joined:Jun 2007	Message Posted: Apr 10, 2012 10:54:18 AM Ignore matthwbar Report Abuse I can't wait to see that...
HKL All-Star Author Wilmington Posts:639 Points:359,430 Joined:Oct 2010	Message Posted: Apr 10, 2012 10:53:34 AM Ignore HKL Report Abuse k
JamesCalvin Champion Author Lancaster Posts:3,191 Points:520,530 Joined:Nov 2011	Message Posted: Apr 10, 2012 10:53:14 AM Ignore JamesCalvin Report Abuse Goody, goody, goody,! Now we can play... ...as long as recess time exists
kissmysmurf Rookie Author Tennessee Posts:1 Points:945 Joined:Mar 2012	Message Posted: Apr 10, 2012 10:53:10 AM Ignore kissmysmurf Report Abuse I wrote a letter to the White House about this issue. With not much of a response except to say that we should switch to natural gas, electric, or some other up and coming hybrid. Problem is cost of a new car and if I bought a natural gas car it is over 65 miles to a station. Besides that whatever becomes the next big fuel they will find a reason why it is going to cost an arm and leg to drive that vehicle. It could be that after everyone switches to natural gas there isn't an abundance any more so reason to raise prices. Why need to get rid of the speculators though.
ratboy1968 Champion Author Montreal Posts:2,622 Points:550,000 Joined:Oct 2011	Message Posted: Apr 10, 2012 10:52:08 AM Ignore ratboy1968 Report Abuse who cares. gas prices will still go up
Number43 Champion Author Lexington Posts:8,703 Points:1,639,145 Joined:Oct 2008	Message Posted: Apr 10, 2012 10:49:19 AM Ignore Number43 Report Abuse They should never have gotten above 40.00. I hate speculators.
Number43 Champion Author Lexington Posts:8,703 Points:1,639,145 Joined:Oct 2008	Message Posted: Apr 10, 2012 10:48:33 AM Ignore Number43 Report Abuse They should never have gotten this high.
benjy Champion Author Chicago Posts:8,597 Points:1,789,395 Joined:Nov 2003	Message Posted: Apr 10, 2012 10:47:33 AM Ignore benjy Report Abuse nice start...
rodwade1 All-Star Author Maine Posts:556 Points:623,960 Joined:Jul 2008	Message Posted: Apr 10, 2012 10:47:18 AM Ignore rodwade1 Report Abuse I hope so !!!
rhail2 Champion Author Kentucky Posts:1,452 Points:287,485 Joined:Apr 2011	Message Posted: Apr 10, 2012 10:47:09 AM Ignore rhail2 Report Abuse not low enough
RedskinGas Champion Author Tennessee Posts:2,018 Points:1,131,035 Joined:Jun 2006	Message Posted: Apr 10, 2012 10:47:08 AM Ignore RedskinGas Report Abuse Oil down, gas still up.
bluetatanka Champion Author Philadelphia Posts:56,200 Points:782,805 Joined:Mar 2011	Message Posted: Apr 10, 2012 10:45:54 AM Ignore bluetatanka Report Abuse Still way overpriced!
WaWanderer Champion Author Washington Posts:4,342 Points:586,925 Joined:Oct 2011	Message Posted: Apr 10, 2012 10:45:28 AM Ignore WaWanderer Report Abuse Supply and demand
pnd1 Champion Author Tallahassee Posts:5,201 Points:1,065,110 Joined:Jul 2009	Message Posted: Apr 10, 2012 10:44:18 AM Ignore pnd1 Report Abuse And yet everything on the news says that we should be at the $4 a gallon of gas mark by next week.
bbthegun Champion Author San Diego Posts:5,983 Points:1,681,940 Joined:Sep 2006	Message Posted: Apr 10, 2012 10:44:00 AM Ignore bbthegun Report Abuse Or they may not...and that is only the WTI (West Texas Intermediate) price. Brent is still above $120 and this is the price the east and left coast are paying.
donny47 Champion Author New Hampshire Posts:2,666 Points:987,390 Joined:Feb 2009	Message Posted: Apr 10, 2012 10:43:57 AM Ignore donny47 Report Abuse price is double what it shoud be!
GManCo Champion Author Colorado Springs Posts:4,996 Points:951,590 Joined:Sep 2010	Message Posted: Apr 10, 2012 10:43:15 AM Ignore GManCo Report Abuse Why do we have so many articles about what things MIGHT be?
Gropitou Veteran Author Montreal Posts:402 Points:1,755,240 Joined:May 2007	Message Posted: Apr 10, 2012 10:43:06 AM Ignore Gropitou Report Abuse Drop in the bucket, still way overpriced.
bell05 Champion Author Atlanta Posts:9,260 Points:1,877,585 Joined:Jun 2005	Message Posted: Apr 10, 2012 10:42:26 AM Ignore bell05 Report Abuse Kkeep on droping. Got a long way to go.
05HD All-Star Author Cincinnati Posts:869 Points:133,170 Joined:Jan 2008	Message Posted: Apr 10, 2012 10:40:56 AM Ignore 05HD Report Abuse OIL PRICE IS MARKET DRIVEN,GAS PRICE IS GREED DRIVEN.OH! THATS THE SAME THING.
bra0712 Champion Author Arizona Posts:3,666 Points:769,415 Joined:Nov 2008	Message Posted: Apr 10, 2012 10:40:53 AM Ignore bra0712 Report Abuse Figures
PathTrack Champion Author Twin Cities Posts:1,204 Points:134,855 Joined:Jan 2005	Message Posted: Apr 10, 2012 10:40:26 AM Ignore PathTrack Report Abuse Sell!
hailsupersport Champion Author Cincinnati Posts:1,230 Points:231,060 Joined:Dec 2011	Message Posted: Apr 10, 2012 10:40:20 AM Ignore hailsupersport Report Abuse not low enough
abacus44 Champion Author Toms River Posts:3,485 Points:749,165 Joined:Jan 2011	Message Posted: Apr 10, 2012 10:40:00 AM Ignore abacus44 Report Abuse And the next bit of good news will send prices right back up.
sciotosix Champion Author Dayton Posts:2,754 Points:667,100 Joined:Apr 2011	Message Posted: Apr 10, 2012 10:38:35 AM Ignore sciotosix Report Abuse Yesterday's article.
viperahul Champion Author Oakland Posts:1,230 Points:596,400 Joined:Feb 2006	Message Posted: Apr 10, 2012 10:38:04 AM Ignore viperahul Report Abuse Drop the gas prices as well.
dieselme2011 Champion Author Vancouver Posts:2,605 Points:604,790 Joined:Mar 2011	Message Posted: Apr 10, 2012 10:35:59 AM Ignore dieselme2011 Report Abuse Keeping my fingers crossed
MarkJM Champion Author Little Rock Posts:1,449 Points:1,346,925 Joined:Oct 2005	Message Posted: Apr 10, 2012 10:35:29 AM Ignore MarkJM Report Abuse prices are haning tight here.
Goody2317 All-Star Author Wilmington Posts:680 Points:620,005 Joined:Jun 2008	Message Posted: Apr 10, 2012 10:34:42 AM Ignore Goody2317 Report Abuse Won't happen. There will be some other reason to keep prices up.
hat48911 Rookie Author Lansing Posts:22 Points:206,195 Joined:Mar 2009	Message Posted: Apr 10, 2012 10:34:39 AM Ignore hat48911 Report Abuse That sounds great. But will it help the average driver or just increase oil company profits? Only time will tell for sure.
smokinjoe54 Champion Author Ohio Posts:4,723 Points:913,510 Joined:Feb 2010	Message Posted: Apr 10, 2012 10:34:00 AM Ignore smokinjoe54 Report Abuse Keep dropping.
teamsimons Champion Author South Carolina Posts:2,478 Points:502,645 Joined:Aug 2011	Message Posted: Apr 10, 2012 10:33:32 AM Ignore teamsimons Report Abuse This is another example (the fourth in recent days) that an article has been repeated two days in a row on SouthCarolinaGasPrices.com. Please refer to our comment yesterday.
letteluv89 Rookie Author North Carolina Posts:3 Points:5,545 Joined:Feb 2012	Message Posted: Apr 10, 2012 10:33:16 AM Ignore letteluv89 Report Abuse call bs
bcfuelsaver Champion Author Vancouver Posts:1,623 Points:246,270 Joined:Jul 2011	Message Posted: Apr 10, 2012 10:33:05 AM Ignore bcfuelsaver Report Abuse Doesn't mean gas prices will come down.
MarkC08 All-Star Author Worcester Posts:663 Points:588,470 Joined:Nov 2008	Message Posted: Apr 10, 2012 10:33:00 AM Ignore MarkC08 Report Abuse Sure it will.
Bonito Champion Author Dayton Posts:15,761 Points:3,008,870 Joined:Jun 2004	Message Posted: Apr 10, 2012 10:32:25 AM Ignore Bonito Report Abuse More BULL by the RICH!
smoketown Champion Author Cincinnati Posts:6,236 Points:1,382,850 Joined:Feb 2008	Message Posted: Apr 10, 2012 10:31:58 AM Ignore smoketown Report Abuse Repeat..........
HailstormCA Champion Author San Diego Posts:7,855 Points:1,472,020 Joined:Nov 2008	Message Posted: Apr 10, 2012 10:31:55 AM Ignore HailstormCA Report Abuse I'm waiting. I'M WAITING!!!
gasper Champion Author Edmonton Posts:4,492 Points:1,369,450 Joined:Mar 2002	Message Posted: Apr 10, 2012 10:30:37 AM Ignore gasper Report Abuse I sure that this will not end high fuel prices looks like everything is fixed and it does not matter the price of oil.
rampower80 Champion Author Kentucky Posts:2,049 Points:462,890 Joined:Jan 2012	Message Posted: Apr 10, 2012 10:30:18 AM Ignore rampower80 Report Abuse hope it drops below $50.
knutzAL Champion Author Alabama Posts:2,248 Points:372,680 Joined:Feb 2012	Message Posted: Apr 10, 2012 10:29:31 AM Ignore knutzAL Report Abuse Ok!
bigmace111 Champion Author Albany Posts:2,728 Points:615,575 Joined:May 2011	Message Posted: Apr 10, 2012 10:28:10 AM Ignore bigmace111 Report Abuse The price of oil goes down, but not the price of gas.
maryph1958 Champion Author Cincinnati Posts:1,420 Points:283,095 Joined:Sep 2011	Message Posted: Apr 10, 2012 10:27:39 AM Ignore maryph1958 Report Abuse not low enough
DrLyon Champion Author Michigan Posts:6,650 Points:1,211,830 Joined:May 2006	Message Posted: Apr 10, 2012 10:27:11 AM Ignore DrLyon Report Abuse How low can you go.... Keep going...
MightyDude Champion Author Minnesota Posts:10,355 Points:2,649,720 Joined:Mar 2003	Message Posted: Apr 10, 2012 10:26:35 AM Ignore MightyDude Report Abuse why not shoot for under 50?
lightbulbman2008 Champion Author Worcester Posts:415,030 Points:1,588,610 Joined:Oct 2008	Message Posted: Apr 10, 2012 10:25:14 AM Ignore lightbulbman2008 Report Abuse profit taking now getting ready for a huge runup to all time highs really soon.
oldiesman Champion Author New York Posts:6,437 Points:2,195,760 Joined:May 2006	Message Posted: Apr 10, 2012 10:25:12 AM Ignore oldiesman Report Abuse Way to go.