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US Crude Ticks Lower, But Gasoline Rallies

Rig Zone -- U.S. oil futures finished nearly unchanged Thursday, pausing after a selloff this week, though gasoline futures rallied sharply on concerns of supply shortages.

Light, sweet crude for October delivery settled 11 cents, or 0.1%, lower at $91.87 a barrel on the New York Mercantile Exchange. That is the front-month contract's lowest finish since Aug. 3, following a plunge of about $7 over the previous three sessions.

With the October contract expiring at the close of trading, the more heavily traded November contract settled 12 cents, or 0.1%, higher at $92.42 a barrel. Brent crude on the ICE futures exchange settled $1.84, or 1.7%, higher at $110.03.

Gasoline futures rose nearly 3%, meanwhile, after a refinery fire was reported in Venezuela. Front-month October reformulated gasoline

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Submitted Sep 21, 2012 By: mastermariner

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honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Sep 24, 2012 2:55:37 AM Ignore honda0105 Report Abuse some stations have dropped a bit. One as much as 30 cents in the last week (down from 3.89 to 3.59).
sts808 Veteran Author Honolulu Posts:361 Points:51,890 Joined:Jun 2012	Message Posted: Sep 22, 2012 7:48:33 AM Ignore sts808 Report Abuse ok
remay Champion Author Houston Posts:6,978 Points:2,119,565 Joined:May 2006	Message Posted: Sep 22, 2012 7:19:52 AM Ignore remay Report Abuse more manipulation
jrs4125 Champion Author Indiana Posts:2,773 Points:594,670 Joined:Sep 2011	Message Posted: Sep 22, 2012 4:20:32 AM Ignore jrs4125 Report Abuse US refining capacity must be brought up.
RitaVespa Champion Author Oregon Posts:2,991 Points:794,310 Joined:Jan 2011	Message Posted: Sep 21, 2012 5:12:56 PM Ignore RitaVespa Report Abuse huh?
GatorGuy Champion Author Columbia Posts:2,238 Points:1,209,945 Joined:Jan 2009	Message Posted: Sep 21, 2012 10:22:07 AM Ignore GatorGuy Report Abuse Some day I'll understand how this impacts actual gas prices...
NO_SWEAT Champion Author Toronto Posts:4,355 Points:1,081,265 Joined:Jul 2008	Message Posted: Sep 21, 2012 10:08:21 AM Ignore NO_SWEAT Report Abuse Consumers, never getting a break.
Dennisjk Champion Author Detroit Posts:6,491 Points:1,927,175 Joined:Apr 2006	Message Posted: Sep 21, 2012 9:45:31 AM Ignore Dennisjk Report Abuse Can't keep them from getting our money.
cssco Champion Author Virginia Posts:7,337 Points:1,753,480 Joined:Feb 2006	Message Posted: Sep 21, 2012 9:05:05 AM Ignore cssco Report Abuse Oh! Well, just another of lifes nasties. Buy a tankful, go to bed and when you get up in the morning someone is likely to have stolen it.
bluebird1 Champion Author Toronto Posts:15,745 Points:3,110,075 Joined:May 2004	Message Posted: Sep 21, 2012 8:55:43 AM Ignore bluebird1 Report Abuse Funny, gas is finally dropping (2 times in a row) here - but since was over $6/gal Cdn it was about time.
BudsterMO Champion Author Kansas City Posts:3,720 Points:705,880 Joined:Aug 2009	Message Posted: Sep 21, 2012 8:34:05 AM Ignore BudsterMO Report Abuse Stop Oil Speculation (SOS) NOW! Develope and promote alternative forms of energy everywhere possible. ANYTHING BUT OIL!
Wildman14 Champion Author Virginia Posts:3,675 Points:834,905 Joined:Jul 2008	Message Posted: Sep 21, 2012 8:23:03 AM Ignore Wildman14 Report Abuse Well past time to reestablish the price controls the peanut farmer eliminated in the '70s!
kishoreCA Champion Author Ventura Posts:3,129 Points:394,845 Joined:Mar 2012	Message Posted: Sep 21, 2012 8:14:54 AM Ignore kishoreCA Report Abuse we dont need these kind of article - it ain't helps anyone in this forum.
hok Champion Author Los Angeles Posts:1,370 Points:1,009,070 Joined:May 2008	Message Posted: Sep 21, 2012 8:14:37 AM Ignore hok Report Abuse √
cssco Champion Author Virginia Posts:7,337 Points:1,753,480 Joined:Feb 2006	Message Posted: Sep 21, 2012 8:10:12 AM Ignore cssco Report Abuse Too much fairy dust in this journalistic effort.
bell05 Champion Author Atlanta Posts:9,265 Points:1,878,560 Joined:Jun 2005	Message Posted: Sep 21, 2012 7:52:04 AM Ignore bell05 Report Abuse Who you gonna believe?
daquanabe Champion Author Houston Posts:1,828 Points:375,850 Joined:Oct 2009	Message Posted: Sep 21, 2012 7:43:34 AM Ignore daquanabe Report Abuse bunch of crap
HATinMUNDY Champion Author Michigan Posts:1,692 Points:766,595 Joined:Mar 2008	Message Posted: Sep 21, 2012 7:31:08 AM Ignore HATinMUNDY Report Abuse Sounds like a conspiracy.....
2granny Champion Author Michigan Posts:9,585 Points:1,468,205 Joined:Apr 2009	Message Posted: Sep 21, 2012 7:28:23 AM Ignore 2granny Report Abuse GREED. No end to the GREED.
darraghON Sophomore Author Ontario Posts:174 Points:242,155 Joined:Sep 2011	Message Posted: Sep 21, 2012 7:27:19 AM Ignore darraghON Report Abuse just calling it a rally shows whose pocket he is looking after
9C1 Champion Author Chicago Posts:22,869 Points:4,248,535 Joined:Jul 2001	Message Posted: Sep 21, 2012 7:26:28 AM Ignore 9C1 Report Abuse CNG conversion kits were available a decade ago. They just have to be updated for today's fuel injected cars.
LQQKGAS Champion Author Phoenix Posts:2,673 Points:1,197,845 Joined:Oct 2009	Message Posted: Sep 21, 2012 7:26:23 AM Ignore LQQKGAS Report Abuse Anything over .99¢ is TOO HIGH!!!
INBwana Champion Author Indiana Posts:5,483 Points:698,910 Joined:Apr 2011	Message Posted: Sep 21, 2012 7:21:57 AM Ignore INBwana Report Abuse Just in time for the Holidays!
LQQKGAS Champion Author Phoenix Posts:2,673 Points:1,197,845 Joined:Oct 2009	Message Posted: Sep 21, 2012 7:21:53 AM Ignore LQQKGAS Report Abuse Hurry up and develop a CNG conversion kit for motor vehicles!
VernonOR Champion Author Oregon Posts:2,925 Points:739,820 Joined:Aug 2010	Message Posted: Sep 21, 2012 7:20:16 AM Ignore VernonOR Report Abuse We will eventually have the same fuel price as they have in Europe.
ToolinIt Champion Author Colorado Posts:1,803 Points:888,945 Joined:May 2010	Message Posted: Sep 21, 2012 7:19:59 AM Ignore ToolinIt Report Abuse WTI is up over 93 now.
slgas Champion Author Houston Posts:6,040 Points:1,564,490 Joined:Oct 2008	Message Posted: Sep 21, 2012 7:19:57 AM Ignore slgas Report Abuse Gas sells at several stations down the street for $3.49, but I bet those bargain prices won't be around for long. Oil is up this morning.
LQQKGAS Champion Author Phoenix Posts:2,673 Points:1,197,845 Joined:Oct 2009	Message Posted: Sep 21, 2012 7:19:35 AM Ignore LQQKGAS Report Abuse Are oil companies too big to fail? Maybe they will need a govt bailout?
MrLuigi Champion Author Massachusetts Posts:4,783 Points:968,635 Joined:Jun 2005	Message Posted: Sep 21, 2012 7:19:31 AM Ignore MrLuigi Report Abuse pump prices should be much lower with the ongoing slip in oil prices
1stClicker Champion Author Texas Posts:5,331 Points:2,246,470 Joined:Oct 2005	Message Posted: Sep 21, 2012 7:19:20 AM Ignore 1stClicker Report Abuse Gas prices are still too high.
rbrowdersr Champion Author Detroit Posts:5,730 Points:1,820,915 Joined:Aug 2006	Message Posted: Sep 21, 2012 7:18:55 AM Ignore rbrowdersr Report Abuse There is no accountibility for the oil companies.
yeehaw1073 Champion Author Indiana Posts:2,371 Points:1,852,375 Joined:May 2004	Message Posted: Sep 21, 2012 7:18:39 AM Ignore yeehaw1073 Report Abuse prices will always end up increasing...
LQQKGAS Champion Author Phoenix Posts:2,673 Points:1,197,845 Joined:Oct 2009	Message Posted: Sep 21, 2012 7:18:37 AM Ignore LQQKGAS Report Abuse If there were good alternatives, then big oil would be struggling like all other industries. Maybe there is a conspiracy?
ZeroBoxes Champion Author Mississippi Posts:1,079 Points:213,340 Joined:Apr 2012	Message Posted: Sep 21, 2012 7:17:21 AM Ignore ZeroBoxes Report Abuse Perhaps gas prices go up the more we text while stupid?? Go get 'em Darwin.
Ltdc Champion Author Long Island Posts:7,225 Points:1,679,820 Joined:Jul 2007	Message Posted: Sep 21, 2012 7:17:02 AM Ignore Ltdc Report Abuse Why is it they're are no restrictions on the amount you can buy if they're so worried about a shortage?
Tucker16 Champion Author Ottawa Posts:1,160 Points:545,500 Joined:Jul 2006	Message Posted: Sep 21, 2012 7:16:59 AM Ignore Tucker16 Report Abuse BS.
PADI Champion Author Ontario Posts:5,144 Points:1,261,870 Joined:Nov 2008	Message Posted: Sep 21, 2012 7:16:57 AM Ignore PADI Report Abuse Shhhhhh! Don't tell anyone, but prices at the pumps here fell over night.
Wizrd03 Champion Author Illinois Posts:8,167 Points:1,635,260 Joined:Oct 2008	Message Posted: Sep 21, 2012 7:16:45 AM Ignore Wizrd03 Report Abuse ONE station is finally below $4 a gallon in my area at $3.999!
Bus936 Champion Author Lexington Posts:16,459 Points:3,222,930 Joined:May 2004	Message Posted: Sep 21, 2012 7:15:04 AM Ignore Bus936 Report Abuse Gasoline rallies so they can legally steal more from the consumers.
arnerator Champion Author Seattle Posts:8,194 Points:1,620,090 Joined:Sep 2008	Message Posted: Sep 21, 2012 7:14:48 AM Ignore arnerator Report Abuse Manipulation..... oil is up this morning. The market is being controlled by speculators.
peanutsMN Champion Author Twin Cities Posts:1,693 Points:387,840 Joined:Jul 2011	Message Posted: Sep 21, 2012 7:14:37 AM Ignore peanutsMN Report Abuse What happened to "When oil prices are down then gas goes down."?
Donliberty Champion Author New York Posts:1,678 Points:655,965 Joined:Apr 2011	Message Posted: Sep 21, 2012 7:13:39 AM Ignore Donliberty Report Abuse ok
goalie1950 Champion Author Phoenix Posts:6,420 Points:1,298,370 Joined:Oct 2009	Message Posted: Sep 21, 2012 7:13:30 AM Ignore goalie1950 Report Abuse Driving force on gas prices: Greed, greed & more greed.
nskmda Champion Author Grand Rapids Posts:1,295 Points:788,505 Joined:May 2007	Message Posted: Sep 21, 2012 7:12:07 AM Ignore nskmda Report Abuse @my2002m man, it's a 'free market'... =)
JWHITE1937 Champion Author Massachusetts Posts:2,534 Points:998,955 Joined:Aug 2006	Message Posted: Sep 21, 2012 7:11:49 AM Ignore JWHITE1937 Report Abuse Thank goodness. GAS RALLIES!! Time for alternatives??
TuanCanCook Champion Author Los Angeles Posts:12,737 Points:659,465 Joined:Jun 2011	Message Posted: Sep 21, 2012 7:11:48 AM Ignore TuanCanCook Report Abuse The consumers always lose...
ILANGE9 Champion Author Illinois Posts:7,625 Points:1,599,150 Joined:Sep 2008	Message Posted: Sep 21, 2012 7:11:47 AM Ignore ILANGE9 Report Abuse GasholeMI asks a great question
zimowski Champion Author San Jose Posts:6,681 Points:1,586,415 Joined:Nov 2007	Message Posted: Sep 21, 2012 7:11:01 AM Ignore zimowski Report Abuse Gas prices beginning to rise again here locally.
BlueVanGroup Champion Author Colorado Posts:7,214 Points:1,530,445 Joined:May 2008	Message Posted: Sep 21, 2012 7:09:47 AM Ignore BlueVanGroup Report Abuse A refinery fire in the socialist worker's paradise of Venezuela? How could that be?
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Sep 21, 2012 7:09:41 AM Ignore Agarre Report Abuse Okie