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GasBuddy News Article

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Oil May Extend Gains as Supply Threats Build: Survey

CNBC -- Benchmark crude oil prices will likely rise this week as global supply threats build and markets price in a positive outcome to Greek debt talks, CNBC's weekly survey showed.

Seven of this week's sample group of eight respondents expect oil prices to climb, while one forecasts prices to remain unchanged.

Compass Global Markets' Peter Turville-Ince has a bullish call on oil this week and expects $120 "very soon in the WTI space" though momentum in Brent crude should "start to slow and should be limited towards $125/$127 for now."

Asian stocks markets rose on Monday reflecting optimism that Greece will seal a deal on a second bailout at a meeting with Euro zone officials later today.

Senior officials from euro zone finance ministries and the European Central Bank held a conference call o


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Submitted Feb 20, 2012 By: jem069
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil May Extend Gains as Supply Threats Build: Survey Back to Topics
REPLIES (newest first) Post a Reply
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E-Squirrel
Champion Author Orange County

Posts:3,327
Points:912,670
Joined:Feb 2005
Message Posted: Feb 27, 2012 12:33:46 PM

duffee01 complains:

'Nothing has changed with the exception that the oil speculators have been ordered to start their usual game of running the price up. Screw the American taxpayer and consumer is what they are doing. I just can't see how Congress can't do a little bit of investigation on price gouging, earn your keep!!'

Who do you think 'orders' speculators to drive the price up? This sort of thing would be more easily understood, if you read a basic economic text book. For starters, Supply and demand controls the price. Speculators contribute neither to supply, nor demand, being neither producers nor consumers.

[Edited by: E-Squirrel at 2/27/2012 3:34:10 PM EST]
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honda0105
Champion Author Tallahassee

Posts:22,192
Points:2,061,740
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Message Posted: Feb 23, 2012 2:58:05 AM

no surprise. Pig Oil and cousins takes any excuse to keep prices down.
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tomok
Champion Author Portland

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Points:2,797,385
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Message Posted: Feb 21, 2012 12:12:00 AM

Restrict fuel supply, Charge higher fuel prices at the pump with manufactured shortages.
Whatever the size or shape the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using ‘other’ forms of transportation or car pool to lower your cost for transportation.
The price of fuel at the pump is too high!
12/22/2012!
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ammamama13
Rookie Author California

Posts:97
Points:72,030
Joined:May 2011
Message Posted: Feb 20, 2012 9:29:03 PM

just another reason to raise gas prices....
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ravenclaw_29
Rookie Author Oakland

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Points:11,535
Joined:Jan 2012
Message Posted: Feb 20, 2012 8:53:49 PM

OK
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abacus44
Champion Author Toms River

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Message Posted: Feb 20, 2012 8:53:00 PM

Reality sucks.
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carman11
Champion Author North Carolina

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Joined:Jun 2011
Message Posted: Feb 20, 2012 8:49:12 PM

OK
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bonzoonfmb
Champion Author Florida

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Points:888,110
Joined:Feb 2010
Message Posted: Feb 20, 2012 8:49:00 PM

Speculators.
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Rt118E
Champion Author Pennsylvania

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Joined:Jun 2009
Message Posted: Feb 20, 2012 8:48:59 PM

This is going to really hurt people like me
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tidalwave3
Champion Author Tallahassee

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Message Posted: Feb 20, 2012 8:46:30 PM

So much speculation and total lack of faith. GREED :]
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Dodge_Me
Champion Author Atlanta

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Message Posted: Feb 20, 2012 8:45:32 PM

That sucks
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MidNJ
Champion Author New Jersey

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Message Posted: Feb 20, 2012 8:42:27 PM

Un-be-leave-able!!

And there is more!!!
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Akcamper
Veteran Author Tucson

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Joined:Dec 2011
Message Posted: Feb 20, 2012 8:42:16 PM

screwed again!
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bif65
Champion Author Virginia

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Joined:Jan 2011
Message Posted: Feb 20, 2012 8:39:51 PM

ok
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PoohMcGoo
Champion Author Alabama

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Message Posted: Feb 20, 2012 8:33:34 PM

Damn speculators jumping in now..
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OGW
Champion Author London

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Message Posted: Feb 20, 2012 8:32:56 PM

American business interests play the shortage card so they can charge more. The problem with oil prices in the world is all caused by US business interests whether Wall Stree or Big Oil or those opposing oil to screw everyone with some other form of energy. it is all about taking our money from us.
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sit
Champion Author Cleveland

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Message Posted: Feb 20, 2012 8:27:59 PM

OK
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mstearno
Champion Author Dayton

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Message Posted: Feb 20, 2012 8:27:47 PM

this is bad news
but may be the news we need for change
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suzmar
Champion Author Texas

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Message Posted: Feb 20, 2012 8:25:29 PM

This will be very bad news for the economy.
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KhelbenArunson
Champion Author Michigan

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Message Posted: Feb 20, 2012 8:25:24 PM

Just another reason we need to switch to an alternative fuel.
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skyking19
Champion Author Little Rock

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Message Posted: Feb 20, 2012 8:24:43 PM

Not a good sign ahead.
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majorfall
Champion Author New York

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Message Posted: Feb 20, 2012 8:22:23 PM

soon the economy will collapse again due to oil prices just like many times before
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my2002m
Champion Author Tulsa

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Message Posted: Feb 20, 2012 8:19:44 PM

And prices keep jumping higher at the pumps.
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pse91
All-Star Author Calgary

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Message Posted: Feb 20, 2012 8:18:12 PM

Preach gloom and the Futures Boy's and the Oil Companies will create huge profits in the near future.
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mazda03
Veteran Author Quebec City

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Message Posted: Feb 20, 2012 8:18:09 PM

hmmmm
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danol43
Champion Author Modesto

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Message Posted: Feb 20, 2012 8:12:03 PM

Oh really...
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toadNY
Champion Author Albany

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Message Posted: Feb 20, 2012 8:09:48 PM

$5.00 a gallon gas coming to a station near you! An sooner than you think!
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blazerbob91
Champion Author Milwaukee

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Message Posted: Feb 20, 2012 8:08:35 PM

This is just the begining.
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crowefamily1
All-Star Author Texas

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Joined:Sep 2006
Message Posted: Feb 20, 2012 8:08:03 PM

let them Euro zone each other to death I prefer the us dollar.
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abcdMA
Champion Author Worcester

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Message Posted: Feb 20, 2012 8:03:38 PM

hyper inflation is on its way
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us4usa
Champion Author Missouri

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Message Posted: Feb 20, 2012 8:00:40 PM

Turn out the lights the party is over...
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onegiraffeAL
Champion Author Alabama

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Message Posted: Feb 20, 2012 7:58:27 PM

ok
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granitestater
Champion Author New Hampshire

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Joined:Oct 2008
Message Posted: Feb 20, 2012 7:55:57 PM

China will buy the surplus...
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mcmonsta
Champion Author Honolulu

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Message Posted: Feb 20, 2012 7:54:15 PM

cut the bs with iran..what else will work? diplomacy works when we can talk & discuss
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kcboy
Champion Author Utah

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Message Posted: Feb 20, 2012 7:46:01 PM

Maybe I'll get some oil stocks. Prices gone up 6 cents again.
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eye-spy
Champion Author Quebec

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Message Posted: Feb 20, 2012 7:45:41 PM

Until there are regulations implemented on commodity trading, gasoline will continue to rise, thanks to our beloved speculators.
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pickledude72
Champion Author California

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Message Posted: Feb 20, 2012 7:40:38 PM

Too bad we can't invest in "Senator Lobbying"
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fuelsaverMN
Champion Author Twin Cities

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Message Posted: Feb 20, 2012 7:38:44 PM

Put your money in oil stocks!!!!
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fuelsaverMN
Champion Author Twin Cities

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Points:559,080
Joined:Mar 2011
Message Posted: Feb 20, 2012 7:38:11 PM

"Just to pay more for gas"
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Bubba44612
Champion Author Ohio

Posts:9,465
Points:2,322,950
Joined:Aug 2005
Message Posted: Feb 20, 2012 7:36:04 PM

What would you expect the speculators to say. They are telling you gas will be $5 a gal by summer. They need to get the prices climbing quickly and soon for that to happen.
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tippybuddy
Champion Author Ontario

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Joined:Feb 2011
Message Posted: Feb 20, 2012 7:31:15 PM

I agree with sillywagon
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cmsense
Champion Author Columbus

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Joined:Jan 2012
Message Posted: Feb 20, 2012 7:28:38 PM

No,they're in BIG OIL'S POCKET!!!!!!
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sillywagon
Champion Author New York

Posts:18,744
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Joined:Oct 2008
Message Posted: Feb 20, 2012 7:26:32 PM

This is ridiculous, and it hurts... not just Americans but worldwide. When will WashingtonDC take this issue seriously and do some limited regulation on commodity speculation? Are they that clueless?
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nvwarped
Champion Author Corpus Christi

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Joined:Sep 2011
Message Posted: Feb 20, 2012 7:26:26 PM

ok
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Blue48
Champion Author Illinois

Posts:9,452
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Joined:Feb 2007
Message Posted: Feb 20, 2012 7:23:58 PM

UP..DOWN..UP..DOWN!
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bevmill
Champion Author Georgia

Posts:4,615
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Joined:Apr 2006
Message Posted: Feb 20, 2012 7:23:23 PM

ok
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byoftDad
Champion Author Columbus

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Points:1,233,375
Joined:Apr 2005
Message Posted: Feb 20, 2012 7:22:52 PM

speculation I am sure.
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Caribou2011
Champion Author Ohio

Posts:5,691
Points:1,190,440
Joined:Feb 2011
Message Posted: Feb 20, 2012 7:22:33 PM

Ok
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Wisegold
Rookie Author Kansas City

Posts:68
Points:299,260
Joined:Feb 2012
Message Posted: Feb 20, 2012 7:21:47 PM

Higher can be better, someone might actually rise up and lead.
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danreino
Champion Author Twin Cities

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Points:1,838,480
Joined:Mar 2008
Message Posted: Feb 20, 2012 7:20:47 PM

Gas freakin skyrocketed here today up to $3.55 for regular 87 octane !!!!!
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