Oil prices edge up towards $127 in London

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GasBuddy News Article

Oil prices edge up towards $127 in London Friday, July 25, 2008
The Associated Free Press -- LONDON (AFP) — Oil prices rose slightly on Friday at the end of a week of sharp falls as concerns eased over tight supplies and strong demand for energy, traders said. Brent North Sea crude for September delivery climbed by 25 cents to 126.69 dollars in midday London trade. New York's main contract, light sweet crude for September delivery, rose 41 cents to 125.90 dollars a barrel in electronic deals. "Crude oil was a touch higher as the recent heavy slide may have been a little overdone, triggering a slight technical bounce," said Sucden energy analyst Michael Davies.
Visit The Associated Free Press for full article

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	Friday, July 25, 2008 The Associated Free Press -- LONDON (AFP) — Oil prices rose slightly on Friday at the end of a week of sharp falls as concerns eased over tight supplies and strong demand for energy, traders said. Brent North Sea crude for September delivery climbed by 25 cents to 126.69 dollars in midday London trade. New York's main contract, light sweet crude for September delivery, rose 41 cents to 125.90 dollars a barrel in electronic deals. "Crude oil was a touch higher as the recent heavy slide may have been a little overdone, triggering a slight technical bounce," said Sucden energy analyst Michael Davies. Visit The Associated Free Press for full article

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brus282 Champion Author North Carolina Posts:1,859 Points:393,680 Joined:Aug 2007	Message Posted: 7/27/2008 6:18:38 AM	Ignore brus282 Report Abuse
	old news
HawaiianGuy Champion Author Idaho Posts:1,181 Points:1,437,280 Joined:May 2003	Message Posted: 7/27/2008 5:58:38 AM	Ignore HawaiianGuy Report Abuse
	Let's see what Monday brings.
kookiwoogi Champion Author Indiana Posts:2,072 Points:1,217,950 Joined:May 2004	Message Posted: 7/27/2008 5:54:07 AM	Ignore kookiwoogi Report Abuse
	Same as yesterday .
WonderfulMI Champion Author Michigan Posts:1,349 Points:123,720 Joined:Jun 2008	Message Posted: 7/27/2008 5:54:07 AM	Ignore WonderfulMI Report Abuse
	Yes, the price in London is important. Oil is a world traded commodity. If you do not believe this, consider that Texas, which produces, or produced in 2006, Texas (21% of the United States domestic oil, with 23 refineries producing 4,628,000 bbl per day. Yet the price in Texas is still high. If drilling and producing domestic oil would reduce the pump price, gasoline in Texas would be the cheapest. It would be way down in price. But the Texans market their oil on the world market. Ar competitive to the world market. Oil prices anywhere in the the world are valid, as long as this oil is an appreciable percentage of the market.
SUNLVR Rookie Author Phoenix Posts:46 Points:282,370 Joined:Aug 2005	Message Posted: 7/27/2008 5:50:45 AM	Ignore SUNLVR Report Abuse
	Considering that the "edge up" was only 25 cents added to an original price of $126.44 per barrel in London, the AFP article has been revised & retitled as follows: "Oil prices drop to 124 dollars in New York"! When President Bush proved that he was serious about drilling by rescinding the presidential ban on drilling on the Outer Continental Shelf on July 14, oil prices have gone down virtually every day of the two weeks since then! The rapid decline in oil prices include the biggest one-day drop in 17 years on July 15 (the next day after Bush's speech) AND the biggest-ever weekly price drop by Friday of that same week! Imagine what would happen to gas prices if Congress also rescinded its drilling ban and then oil companies could actually start drilling where they know oil is waiting! Meanwhile, the Speaker of the House, Democrat Pelosi, is not allowing the issue to be voted upon because she is afraid that it would make Bush look good! She is the same hypocrite who campaigned in 2006 by saying she had a plan to lower gasoline & oil prices. Since she & her fellow Democrats won big in the 2006 election, gas prices have nearly doubled! We wouldn't be paying these high gas prices if oil companies were allowed to drill for our own oil. USA is the only country in the world that has passed laws to forbid acquiring its own oil!
GGAlbo All-Star Author Detroit Posts:592 Points:429,020 Joined:Sep 2006	Message Posted: 7/27/2008 5:39:12 AM	Ignore GGAlbo Report Abuse
	The price will be going Up and Down, but mostly Down!!!
eddyp94 All-Star Author Ontario Posts:706 Points:187,780 Joined:Mar 2008	Message Posted: 7/27/2008 5:38:18 AM	Ignore eddyp94 Report Abuse
	better them then us
AC-302 Champion Author Los Angeles Posts:7,912 Points:1,277,755 Joined:Aug 2004	Message Posted: 7/27/2008 5:37:24 AM	Ignore AC-302 Report Abuse
	What goes up must come down. But there is upward pressure on oil due to strong worldwide demand.
Ken2OD All-Star Author Grand Rapids Posts:848 Points:325,595 Joined:Dec 2005	Message Posted: 7/27/2008 5:36:09 AM	Ignore Ken2OD Report Abuse
	Same answer as yesterday. N.T.P.
MiJeff Champion Author Grand Rapids Posts:3,320 Points:815,825 Joined:May 2005	Message Posted: 7/27/2008 5:35:58 AM	Ignore MiJeff Report Abuse
	same as here
dabuzman All-Star Author Seattle Posts:980 Points:430,930 Joined:Apr 2006	Message Posted: 7/27/2008 5:35:55 AM	Ignore dabuzman Report Abuse
	So how cares what the price is their. I only concern it the price in the US & Canada. The price should on differ more than a few pennys in the US from coast to coast but I see 75 cents which some thing has gone wrong. Greed for the oil companys.
patbob56 Champion Author Colorado Springs Posts:1,551 Points:322,150 Joined:Apr 2006	Message Posted: 7/27/2008 5:34:24 AM	Ignore patbob56 Report Abuse
	yes because crude oil trades there
Wolfwings All-Star Author Delaware Posts:717 Points:230,185 Joined:May 2004	Message Posted: 7/27/2008 5:34:17 AM	Ignore Wolfwings Report Abuse
	No matter what the spot price is, you can be sure that between speculators and big oil, the guy at the pump will lose.
NECarter Sophomore Author Seattle Posts:150 Points:71,525 Joined:Oct 2006	Message Posted: 7/27/2008 5:30:02 AM	Ignore NECarter Report Abuse
	is the price in London material here?
phatride92 Champion Author Kansas Posts:3,553 Points:900,900 Joined:Oct 2005	Message Posted: 7/27/2008 5:28:21 AM	Ignore phatride92 Report Abuse
	old print
billy44bo Champion Author Mobile Posts:1,245 Points:222,070 Joined:Feb 2008	Message Posted: 7/27/2008 5:22:32 AM	Ignore billy44bo Report Abuse
	in London 6 hours before New York closed for the day which was lower than the price in the article.
tahoecool Champion Author Houston Posts:2,620 Points:503,180 Joined:Aug 2005	Message Posted: 7/27/2008 5:17:17 AM	Ignore tahoecool Report Abuse
	Old news
mrkel Champion Author Cincinnati Posts:1,554 Points:773,995 Joined:Apr 2006	Message Posted: 7/27/2008 5:13:45 AM	Ignore mrkel Report Abuse
	old news...Burn the speculators!
Austin1850 Champion Author Austin Posts:1,618 Points:110,535 Joined:May 2008	Message Posted: 7/27/2008 5:07:04 AM	Ignore Austin1850 Report Abuse
	Drop more
Toppers All-Star Author Atlanta Posts:692 Points:820,325 Joined:Mar 2005	Message Posted: 7/27/2008 5:02:59 AM	Ignore Toppers Report Abuse
	Down down down!
waltjax All-Star Author Illinois Posts:603 Points:827,745 Joined:Jul 2005	Message Posted: 7/27/2008 5:02:34 AM	Ignore waltjax Report Abuse
	it should be lower.
cheapertvs Champion Author Richmond Posts:1,635 Points:1,083,845 Joined:Jan 2004	Message Posted: 7/27/2008 5:01:38 AM	Ignore cheapertvs Report Abuse
	STILL DROPPING!!!
CallJeffCa Champion Author Oakland Posts:1,309 Points:309,810 Joined:Oct 2007	Message Posted: 7/27/2008 4:51:47 AM	Ignore CallJeffCa Report Abuse
	Keep on droppin
drclark Champion Author Tampa Posts:1,208 Points:178,175 Joined:Apr 2008	Message Posted: 7/27/2008 4:48:52 AM	Ignore drclark Report Abuse
	Same comment as yesterday on this article.
Thunder Sophomore Author Colorado Springs Posts:103 Points:67,410 Joined:Aug 2001	Message Posted: 7/27/2008 4:48:11 AM	Ignore Thunder Report Abuse
	When oil is $79 a barrel, then wake me up. In the meantime, let the free fall continue!
dreamweaver7050 Veteran Author Louisiana Posts:485 Points:440,865 Joined:Sep 2006	Message Posted: 7/27/2008 4:47:47 AM	Ignore dreamweaver7050 Report Abuse
	pumps will go back up
jrnascar Veteran Author Dayton Posts:275 Points:172,105 Joined:Jul 2006	Message Posted: 7/27/2008 4:46:32 AM	Ignore jrnascar Report Abuse
	old news...oil ended at $123 on Friday...Woohoo...keep going down.
gr8oakOH All-Star Author Akron Posts:859 Points:225,280 Joined:Nov 2007	Message Posted: 7/27/2008 4:42:00 AM	Ignore gr8oakOH Report Abuse
	old news is correct it has now gone down to $123.00 per barrel & dropping like a rock
rowansysco Champion Author Louisville Posts:1,148 Points:306,685 Joined:May 2007	Message Posted: 7/27/2008 4:41:06 AM	Ignore rowansysco Report Abuse
	old news!!!
laddyboy62 Champion Author Riverside Posts:1,385 Points:955,810 Joined:Mar 2005	Message Posted: 7/27/2008 4:40:30 AM	Ignore laddyboy62 Report Abuse
	stale
vgahuja Veteran Author Toronto Posts:274 Points:72,360 Joined:Jan 2008	Message Posted: 7/27/2008 4:39:02 AM	Ignore vgahuja Report Abuse
	old news
oncotime Champion Author Milwaukee Posts:9,095 Points:1,617,245 Joined:May 2003	Message Posted: 7/27/2008 4:36:34 AM	Ignore oncotime Report Abuse
	ok
kidmikey37 All-Star Author Texas Posts:514 Points:137,770 Joined:Apr 2008	Message Posted: 7/27/2008 4:35:43 AM	Ignore kidmikey37 Report Abuse
	technical bounce, 10 yards,loss of down, man i miss football
woos777 Champion Author Washington Posts:1,425 Points:632,605 Joined:Sep 2006	Message Posted: 7/27/2008 4:35:38 AM	Ignore woos777 Report Abuse
	$123.26 now.
gasman50 Champion Author Portland Posts:1,163 Points:783,650 Joined:Nov 2005	Message Posted: 7/27/2008 4:32:40 AM	Ignore gasman50 Report Abuse
	Down baby, down
TeachR06 All-Star Author Raleigh Posts:833 Points:445,410 Joined:Sep 2006	Message Posted: 7/27/2008 4:29:07 AM	Ignore TeachR06 Report Abuse
	Hopefully it will continue to fall and this is a small correction due to selling and buying.
zonernovi Champion Author Michigan Posts:1,042 Points:208,655 Joined:May 2005	Message Posted: 7/27/2008 4:26:42 AM	Ignore zonernovi Report Abuse
	will keep on falling
Z133 Rookie Author Twin Cities Posts:38 Points:74,315 Joined:Jul 2007	Message Posted: 7/27/2008 4:26:12 AM	Ignore Z133 Report Abuse
	old news
mplato Champion Author Columbia Posts:1,109 Points:388,695 Joined:Jun 2004	Message Posted: 7/27/2008 4:25:29 AM	Ignore mplato Report Abuse
	yo yo ... or roller coaster?
GooseMI Champion Author Grand Rapids Posts:1,513 Points:343,065 Joined:Sep 2007	Message Posted: 7/27/2008 4:23:47 AM	Ignore GooseMI Report Abuse
	And you know that a reporter will find someone who is complaining about the gas price fall in a speculator driven, irrational, risk based, missle firing, warmongering, supply and demand, manipulated view point.
kevski Champion Author Oregon Posts:1,167 Points:159,815 Joined:Feb 2008	Message Posted: 7/27/2008 4:23:23 AM	Ignore kevski Report Abuse
	the week overall was down which is good
4warned Champion Author Michigan Posts:1,026 Points:580,915 Joined:Nov 2006	Message Posted: 7/27/2008 4:20:04 AM	Ignore 4warned Report Abuse
	All we can do is wait and see and do the best we can to conserve.
Pede All-Star Author New Jersey Posts:904 Points:120,985 Joined:Apr 2007	Message Posted: 7/27/2008 4:12:53 AM	Ignore Pede Report Abuse
	It better go down a lot more or this winter there will be a lot of seniors and retired citizens
bicycler Champion Author Ontario Posts:5,973 Points:1,079,845 Joined:May 2005	Message Posted: 7/27/2008 4:08:57 AM	Ignore bicycler Report Abuse
	Traders use any excuse to cover their greedy speculating trading!
thwadi Veteran Author Cleveland Posts:460 Points:121,080 Joined:Mar 2008	Message Posted: 7/27/2008 4:05:26 AM	Ignore thwadi Report Abuse
	Get the dollar back on par with the Euro and it is less than $65 dollars.
bug27 Champion Author Kentucky Posts:1,768 Points:1,134,900 Joined:Apr 2005	Message Posted: 7/27/2008 4:03:21 AM	Ignore bug27 Report Abuse
	Old news.
TheThing All-Star Author Quebec Posts:740 Points:184,925 Joined:Mar 2008	Message Posted: 7/27/2008 3:55:56 AM	Ignore TheThing Report Abuse
	Old
rbdesigns Veteran Author Modesto Posts:449 Points:134,655 Joined:May 2008	Message Posted: 7/27/2008 3:55:43 AM	Ignore rbdesigns Report Abuse
	Thank goodness it seems to be going down all over the U.S.
rockinrog All-Star Author Ontario Posts:664 Points:646,100 Joined:May 2006	Message Posted: 7/27/2008 3:51:44 AM	Ignore rockinrog Report Abuse
	One good scare of a hurricane in the gulf of Mexico and BOOM...right back up!
Gassie1 Champion Author Akron Posts:4,201 Points:527,085 Joined:Apr 2007	Message Posted: 7/27/2008 3:50:48 AM	Ignore Gassie1 Report Abuse
	The trend is down for the time being