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Author	Topic: Crude Oil, Gasoline, Heating Oil Plunge: Commodities At Close	Post a Reply Back to Topics

comprof Champion Author Houston Posts:6,844 Points:1,353,825 Joined:Jul 2009	Message Posted: May 30, 2012 6:29:43 PM Ignore comprof Report Abuse The Standard & Poor’s GSCI gauge of 24 commodities fell 2.3 percent to 603.28 at 5 p.m. New York time. The UBS Bloomberg CMCI index of 26 raw materials decreased 1.5 percent to 1,448.983. CRUDE OIL Oil tumbled to a seven-month low on speculation that U.S. crude stockpiles climbed to the highest level since 1990 and as the euro weakened on concern that the debt crisis will overwhelm Spain. Oil for July delivery fell $2.94 to $87.82 a barrel on the New York Mercantile Exchange, the lowest settlement since Oct. 21. Prices have decreased 16 percent this month, heading for the biggest drop since December 2008. Brent oil for July settlement declined $3.21, or 3 percent, to end the session at $103.47 a barrel on the London-based ICE Futures Europe exchange. It was the lowest close since Dec. 16. Visit bloomberg.com for full article

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Message Posted: May 30, 2012 6:29:43 PM

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The Standard & Poor’s GSCI gauge of 24 commodities fell 2.3 percent to 603.28 at 5 p.m. New York time. The UBS Bloomberg CMCI index of 26 raw materials decreased 1.5 percent to 1,448.983.
CRUDE OIL
Oil tumbled to a seven-month low on speculation that U.S. crude stockpiles climbed to the highest level since 1990 and as the euro weakened on concern that the debt crisis will overwhelm Spain.
Oil for July delivery fell $2.94 to $87.82 a barrel on the New York Mercantile Exchange, the lowest settlement since Oct. 21. Prices have decreased 16 percent this month, heading for the biggest drop since December 2008.
Brent oil for July settlement declined $3.21, or 3 percent, to end the session at $103.47 a barrel on the London-based ICE Futures Europe exchange. It was the lowest close since Dec. 16.

Visit bloomberg.com for full article

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jrs4125 Champion Author Indiana Posts:2,743 Points:588,820 Joined:Sep 2011	Message Posted: May 31, 2012 9:13:43 AM Ignore jrs4125 Report Abuse Lets see it at the pump
alterman156 Champion Author New York Posts:7,470 Points:1,553,750 Joined:Dec 2008	Message Posted: May 31, 2012 1:23:13 AM Ignore alterman156 Report Abuse Gasoline will likely go down.
pumaMN Champion Author Minnesota Posts:1,543 Points:334,965 Joined:Aug 2011	Message Posted: May 31, 2012 1:10:21 AM Ignore pumaMN Report Abuse why the gas went up today
leraar2 Champion Author Massachusetts Posts:3,749 Points:784,755 Joined:Mar 2011	Message Posted: May 31, 2012 12:34:51 AM Ignore leraar2 Report Abuse not low enough by 30%.
ExplorerWA Champion Author Washington Posts:4,062 Points:794,225 Joined:Feb 2011	Message Posted: May 30, 2012 11:51:53 PM Ignore ExplorerWA Report Abuse When it drop at the pump?
jetskijerry Champion Author North Carolina Posts:3,881 Points:769,345 Joined:Mar 2011	Message Posted: May 30, 2012 11:42:20 PM Ignore jetskijerry Report Abuse keep goingdown
1momsunshine Champion Author Ottawa Posts:5,475 Points:997,555 Joined:Mar 2010	Message Posted: May 30, 2012 11:40:38 PM Ignore 1momsunshine Report Abuse ok
anascom Champion Author Hamilton Posts:1,593 Points:553,015 Joined:Feb 2011	Message Posted: May 30, 2012 11:23:01 PM Ignore anascom Report Abuse More organized mayhem and pillage!
Point__man Champion Author Raleigh Posts:4,320 Points:874,770 Joined:Oct 2010	Message Posted: May 30, 2012 11:17:28 PM Ignore Point__man Report Abuse seems like good news, but, what does this really indicate ?
WalRus49 Champion Author Boston Posts:4,060 Points:865,940 Joined:Nov 2010	Message Posted: May 30, 2012 11:08:33 PM Ignore WalRus49 Report Abuse More organized mayhem and pillage.............
Night Owl Champion Author Toronto Posts:7,535 Points:1,783,575 Joined:Jul 2004	Message Posted: May 30, 2012 10:04:18 PM Ignore Night Owl Report Abuse Keep falling.
Hoporrene Veteran Author Mississippi Posts:312 Points:206,970 Joined:Dec 2011	Message Posted: May 30, 2012 9:49:44 PM Ignore Hoporrene Report Abuse ....hmmmmmm....I guess
kag2010 Champion Author Winnipeg Posts:5,239 Points:1,016,735 Joined:Apr 2010	Message Posted: May 30, 2012 9:46:54 PM Ignore kag2010 Report Abuse Oil tumbled to a seven-month low on speculation that U.S. crude stockpiles
kag2010 Champion Author Winnipeg Posts:5,239 Points:1,016,735 Joined:Apr 2010	Message Posted: May 30, 2012 9:44:41 PM Ignore kag2010 Report Abuse Let's see some more drop at the pump.
fracknsave Champion Author Grand Rapids Posts:1,666 Points:58,000 Joined:Mar 2012	Message Posted: May 30, 2012 9:42:55 PM Ignore fracknsave Report Abuse Everything will be OK all the way up to the point where it turns out that everything is not OK, just like in '08. And for Mr. "there are no red states or blue states, just the United States," barry 'the divider' needs to retire this fall.
esq262 Champion Author Asheville Posts:2,882 Points:644,490 Joined:Jul 2011	Message Posted: May 30, 2012 9:23:52 PM Ignore esq262 Report Abuse Let's see some more drop at the pump.
Lugi1967 Champion Author Ohio Posts:4,768 Points:998,245 Joined:Jun 2010	Message Posted: May 30, 2012 8:30:12 PM Ignore Lugi1967 Report Abuse And oil companies will still report billions in quarterly profits
TomT2Lee Champion Author Cincinnati Posts:5,347 Points:1,594,430 Joined:Sep 2005	Message Posted: May 30, 2012 8:25:44 PM Ignore TomT2Lee Report Abuse Well lets see. Europe is circling the drain. The US has made its way to the waste treatment plant and China is choking. Seems like the economic collapse that the professional politicians tried to con you into believing was gone, is bigger and more devastating than before. The answer will be to go 10X further in debt and print 100X more money. End result, enjoy the oil pull back while you can. The pain coming is going to be extreme.
deek_candy Rookie Author London Posts:36 Points:17,505 Joined:Jan 2012	Message Posted: May 30, 2012 8:21:26 PM Ignore deek_candy Report Abuse crazy.
djdon917 All-Star Author New Jersey Posts:848 Points:58,235 Joined:Oct 2007	Message Posted: May 30, 2012 8:07:56 PM Ignore djdon917 Report Abuse where at? im still paying $3.58 a gallon its still not going down and next state over is 30 cents cheaper here south of New jersey gas has not fallen whats with the picture
FunMyster All-Star Author Indiana Posts:907 Points:73,215 Joined:Jul 2011	Message Posted: May 30, 2012 7:34:35 PM Ignore FunMyster Report Abuse down she goes!
dave27johnson Champion Author Chicago Posts:1,784 Points:405,365 Joined:Feb 2012	Message Posted: May 30, 2012 7:34:06 PM Ignore dave27johnson Report Abuse The speculation bubble for commodities, including oil, has burst.
200porter Champion Author Toronto Posts:2,050 Points:538,610 Joined:Sep 2011	Message Posted: May 30, 2012 7:16:24 PM Ignore 200porter Report Abuse Now let's see gas prices go down by the same percent
mike56MI Champion Author Michigan Posts:1,200 Points:304,340 Joined:Aug 2011	Message Posted: May 30, 2012 7:02:01 PM Ignore mike56MI Report Abuse Thats great, but we'll never see it at the pump
Pramodsharma Champion Author Richmond Posts:1,969 Points:384,065 Joined:Feb 2012	Message Posted: May 30, 2012 6:34:41 PM Ignore Pramodsharma Report Abuse Good NEWS