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Crude Extends Losses After Inventories Climb

Dow Jones Newswires --
Oil futures tumbled after a report on U.S. oil inventories showed stockpiles rose unexpectedly last week while gasoline demand fell sharply.

Light, sweet crude oil for July delivery fell $1.65, or 2%, to $82.38 a barrel on the New York Mercantile Exchange. With the July contract set to expire at the settlement Wednesday, August futures fell $1.74, or 2%, to $82.61 a barrel.

Brent crude oil on ICE Futures Europe fell $1.24, or 1.3%, to $94.52 a barrel.

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Submitted Jun 21, 2012 By: RENEGADEGAS

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mtaboy Sophomore Author New Jersey Posts:191 Points:54,490 Joined:Dec 2004	Message Posted: Jun 21, 2012 7:31:50 PM Ignore mtaboy Report Abuse I HAD A DREAM THAT THE PRICE OF GAS DROPPED SO LOW THAT...GREEDY SPECULATORS... BY THE THOUSANDS WERE ALL LINING UP...WAITING TO JUMP OUT OF TALL BUILDINGS...TO THEIR DEATHS AFTER LOSING ALL THEIR WEALTH...A WEALTH THEY AMMASED AT THE EXPENSE OF OVER 300 MILLION AMERICANS SUFFERING THROUGH SUPER INFLATED GAS AND OIL PRICES THEY CAUSED...IF ONLY SOME DREAMS WERE REAL!!!!!
mabrams184 Champion Author Lexington Posts:2,095 Points:531,335 Joined:Aug 2011	Message Posted: Jun 21, 2012 7:31:25 PM Ignore mabrams184 Report Abuse Let the prices fall.
ShabbyPA Champion Author Pennsylvania Posts:2,815 Points:680,490 Joined:Nov 2007	Message Posted: Jun 21, 2012 7:28:17 PM Ignore ShabbyPA Report Abuse would love for it to last,drill here
LtRTH Champion Author St. Louis Posts:1,767 Points:582,945 Joined:May 2011	Message Posted: Jun 21, 2012 7:25:58 PM Ignore LtRTH Report Abuse Only temporary.
FreeeBee Veteran Author Atlanta Posts:343 Points:223,845 Joined:Jan 2007	Message Posted: Jun 21, 2012 7:20:39 PM Ignore FreeeBee Report Abuse Oil $78.449997 But the gas prices are not dropping that quick..:(
cwashi3324 Champion Author Cincinnati Posts:2,792 Points:571,340 Joined:May 2009	Message Posted: Jun 21, 2012 7:18:57 PM Ignore cwashi3324 Report Abuse I smell a price spike
Mustache_33 All-Star Author Toronto Posts:900 Points:181,455 Joined:May 2012	Message Posted: Jun 21, 2012 7:15:53 PM Ignore Mustache_33 Report Abuse hmm
Foxt Champion Author Minnesota Posts:5,250 Points:2,018,380 Joined:Jul 2006	Message Posted: Jun 21, 2012 7:15:12 PM Ignore Foxt Report Abuse No relief here. Still climbing.
jlisk1970_us Sophomore Author St. Louis Posts:233 Points:94,930 Joined:Feb 2012	Message Posted: Jun 21, 2012 7:14:11 PM Ignore jlisk1970_us Report Abuse Sounds good. But gas should be even cheaper.
GryphonX Champion Author Nevada Posts:6,095 Points:1,585,525 Joined:Nov 2007	Message Posted: Jun 21, 2012 7:09:14 PM Ignore GryphonX Report Abuse Perhaps some relief for the rest of us???
SoutheastdannyB All-Star Author Grand Rapids Posts:590 Points:581,880 Joined:Jul 2007	Message Posted: Jun 21, 2012 7:09:00 PM Ignore SoutheastdannyB Report Abuse i really wish speculators would lose real money and focus on something else.
shea33 Champion Author Pensacola Posts:2,358 Points:540,990 Joined:Oct 2011	Message Posted: Jun 21, 2012 7:08:59 PM Ignore shea33 Report Abuse got it
stevencr Champion Author Ohio Posts:5,641 Points:1,431,840 Joined:Mar 2009	Message Posted: Jun 21, 2012 7:05:51 PM Ignore stevencr Report Abuse This jumble of numbers is pretty much meaningless.
mnbeancounter Champion Author Minnesota Posts:4,718 Points:1,060,640 Joined:Oct 2009	Message Posted: Jun 21, 2012 7:03:01 PM Ignore mnbeancounter Report Abuse Remember the drop is in the futures market
bisonjim Champion Author Florida Posts:1,045 Points:204,280 Joined:May 2012	Message Posted: Jun 21, 2012 6:59:37 PM Ignore bisonjim Report Abuse Pump $$, down when??
jb107 Champion Author New Jersey Posts:9,539 Points:2,619,075 Joined:Sep 2005	Message Posted: Jun 21, 2012 6:59:18 PM Ignore jb107 Report Abuse Oil closed today just above $78.00.
bluebie Veteran Author Salt Lake City Posts:435 Points:103,110 Joined:Mar 2011	Message Posted: Jun 21, 2012 6:56:06 PM Ignore bluebie Report Abuse good; keep falling.
carefrey Champion Author Orlando Posts:5,520 Points:1,156,560 Joined:Sep 2009	Message Posted: Jun 21, 2012 6:51:40 PM Ignore carefrey Report Abuse Okay.
Gasazhunter Champion Author Phoenix Posts:4,200 Points:1,025,770 Joined:May 2010	Message Posted: Jun 21, 2012 6:48:34 PM Ignore Gasazhunter Report Abuse Ok.
Shakleelady31 All-Star Author Fort Wayne Posts:571 Points:400,100 Joined:Jan 2012	Message Posted: Jun 21, 2012 6:46:59 PM Ignore Shakleelady31 Report Abuse okay
biggyhy Champion Author Milwaukee Posts:1,466 Points:472,305 Joined:Sep 2011	Message Posted: Jun 21, 2012 6:46:27 PM Ignore biggyhy Report Abuse now lets see if they lower prices again
Sarge10 All-Star Author Detroit Posts:857 Points:173,125 Joined:Feb 2010	Message Posted: Jun 21, 2012 6:44:20 PM Ignore Sarge10 Report Abuse Keep going down!
preacherjohn Champion Author Modesto Posts:3,978 Points:1,916,895 Joined:May 2006	Message Posted: Jun 21, 2012 6:43:11 PM Ignore preacherjohn Report Abuse soo.oo
herndonks Champion Author Baltimore Posts:1,116 Points:211,685 Joined:Dec 2011	Message Posted: Jun 21, 2012 6:43:11 PM Ignore herndonks Report Abuse VERY GOOD
letterchunker Champion Author Texas Posts:2,235 Points:665,625 Joined:Aug 2008	Message Posted: Jun 21, 2012 6:39:59 PM Ignore letterchunker Report Abuse As of 7:17pm today WTI CRUDE FUTURE (USD/bbl.) is 78.360
scubadaniel Champion Author Dayton Posts:1,406 Points:689,745 Joined:Jan 2011	Message Posted: Jun 21, 2012 6:38:56 PM Ignore scubadaniel Report Abuse Why isn't POTUS complaining about the oil speculators now? [Edited by: scubadaniel at 6/21/2012 7:39:47 PM EST]
fire@53 Champion Author Philadelphia Posts:11,818 Points:2,767,125 Joined:May 2003	Message Posted: Jun 21, 2012 6:37:40 PM Ignore fire@53 Report Abuse Great for lower prices.
roundtrip100 Champion Author Fort Wayne Posts:1,993 Points:394,025 Joined:Apr 2012	Message Posted: Jun 21, 2012 6:36:25 PM Ignore roundtrip100 Report Abuse ok
CQQKIE All-Star Author Illinois Posts:970 Points:348,915 Joined:Jul 2008	Message Posted: Jun 21, 2012 6:35:21 PM Ignore CQQKIE Report Abuse Ok.
FJCruiserCA All-Star Author California Posts:517 Points:325,800 Joined:Dec 2010	Message Posted: Jun 21, 2012 6:33:59 PM Ignore FJCruiserCA Report Abuse Drop Baby, Drop!!! Wish the price at the pump would keep up with the decline in oil.
Caribou2011 Champion Author Ohio Posts:3,751 Points:765,910 Joined:Feb 2011	Message Posted: Jun 21, 2012 6:33:03 PM Ignore Caribou2011 Report Abuse Ok
marinedad1949 Champion Author Lancaster Posts:2,481 Points:502,245 Joined:Nov 2011	Message Posted: Jun 21, 2012 6:32:32 PM Ignore marinedad1949 Report Abuse Ok.
BigBob12345 Champion Author Gasbuddy Posts:1,521 Points:304,730 Joined:Aug 2011	Message Posted: Jun 21, 2012 6:31:01 PM Ignore BigBob12345 Report Abuse too much info
us30ride Champion Author Fort Wayne Posts:3,320 Points:710,685 Joined:Apr 2011	Message Posted: Jun 21, 2012 6:30:30 PM Ignore us30ride Report Abuse ok
BigBob12345 Champion Author Gasbuddy Posts:1,521 Points:304,730 Joined:Aug 2011	Message Posted: Jun 21, 2012 6:30:22 PM Ignore BigBob12345 Report Abuse ok
fallbaby All-Star Author Indiana Posts:703 Points:306,590 Joined:Mar 2012	Message Posted: Jun 21, 2012 6:29:00 PM Ignore fallbaby Report Abuse I'm sick of the entire mess.
monarch57 Champion Author British Columbia Posts:1,623 Points:135,360 Joined:Nov 2008	Message Posted: Jun 21, 2012 6:24:32 PM Ignore monarch57 Report Abuse I have no sympathoy for big oil they gouged us long enough it's payback time.
kcboy Champion Author Utah Posts:3,958 Points:1,505,850 Joined:Jun 2005	Message Posted: Jun 21, 2012 6:21:28 PM Ignore kcboy Report Abuse Just drop the gas prices a little faster.
nobodyMO Champion Author Kansas City Posts:2,251 Points:554,305 Joined:Nov 2010	Message Posted: Jun 21, 2012 6:21:11 PM Ignore nobodyMO Report Abuse Be nice if gas would drop. Maybe someone raised taxes and didn't tell us. [Edited by: nobodyMO at 6/21/2012 7:24:17 PM EST]
Catfish93001 Champion Author Ventura Posts:1,200 Points:247,205 Joined:Jun 2008	Message Posted: Jun 21, 2012 6:20:24 PM Ignore Catfish93001 Report Abuse Last time oil was this low the price at the pump in my area was about $2.75, a full buck lower than what we have right now. Guess the oil companies really need the money.
BCHS76 Champion Author Indianapolis Posts:1,048 Points:853,510 Joined:Oct 2009	Message Posted: Jun 21, 2012 6:19:27 PM Ignore BCHS76 Report Abuse Can you do the limbo?
RBob Champion Author Portland Posts:3,359 Points:2,344,950 Joined:May 2004	Message Posted: Jun 21, 2012 6:17:25 PM Ignore RBob Report Abuse Retail prices should be below $3.00 so it is apparent the oil barons are winning the war and still stock piling their gold bars...
032946 Champion Author Twin Cities Posts:19,850 Points:4,042,095 Joined:Oct 2001	Message Posted: Jun 21, 2012 6:16:48 PM Ignore 032946 Report Abuse So why isn't the price at the pump reflecting that?
g747 Champion Author Mobile Posts:4,531 Points:931,720 Joined:Jul 2009	Message Posted: Jun 21, 2012 6:13:52 PM Ignore g747 Report Abuse Gooooooooooooooooood for us.
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Jun 21, 2012 6:11:23 PM Ignore frostyWV Report Abuse good
nj2000ng Champion Author Houston Posts:1,507 Points:449,020 Joined:Jan 2010	Message Posted: Jun 21, 2012 6:07:53 PM Ignore nj2000ng Report Abuse good news.
gas4433 Champion Author Houston Posts:2,347 Points:543,800 Joined:Sep 2011	Message Posted: Jun 21, 2012 6:06:51 PM Ignore gas4433 Report Abuse Ok
sammy518 Champion Author Austin Posts:2,589 Points:539,790 Joined:Dec 2010	Message Posted: Jun 21, 2012 6:06:27 PM Ignore sammy518 Report Abuse ok
joeborge Champion Author Ventura Posts:2,521 Points:902,530 Joined:Jul 2004	Message Posted: Jun 21, 2012 6:04:38 PM Ignore joeborge Report Abuse good
sammy518 Champion Author Austin Posts:2,589 Points:539,790 Joined:Dec 2010	Message Posted: Jun 21, 2012 6:03:42 PM Ignore sammy518 Report Abuse ok
wulf2000 Champion Author Miami Posts:3,022 Points:1,386,755 Joined:May 2005	Message Posted: Jun 21, 2012 6:03:15 PM Ignore wulf2000 Report Abuse Using Point and Figure charting for Brent crude oil the projected bearish price is $62.00. Will the projected price be met, who knows but right now the price is dropping like a rock. But will the price drop be displayed at the pump.
sammy518 Champion Author Austin Posts:2,589 Points:539,790 Joined:Dec 2010	Message Posted: Jun 21, 2012 6:03:09 PM Ignore sammy518 Report Abuse ok