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Oil rises on storage date, high demands

The Toronto Star -- NEW YORK, N.Y.—Following a brief pullback the previous day, oil prices jumped Wednesday after a U.S. government report showed that crude stockpiles grew less than analysts had predicted, raising hopes that demand for oil and gas is picking up.

Oil also got a boost from China, which reported surging trade figures — and from OPEC, which bumped up its global oil demand forecast for the year.

Benchmark crude for April delivery rose as high as US$83.03 a barrel in morning trading on the New York Mercantile Exchange, before moving back to $82.08, up 59 cents.

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Submitted Mar 12, 2010 By: momsno1_taxi

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Marson Champion Author Scranton Posts:4,374 Points:1,143,845 Joined:Oct 2006	Message Posted: Mar 12, 2010 8:21:24 AM Ignore Marson Report Abuse While these idiots in Washington try eo enact a devastating health bill they ignore the speculators who are causing these crazy oil prices. Is this perhaps because the peculators fund their re-election campaigns?????
csansmith Rookie Author Wyoming Posts:97 Points:149,495 Joined:Sep 2007	Message Posted: Mar 12, 2010 8:20:25 AM Ignore csansmith Report Abuse Oil goes up and it will hurt the economy.
Eagle68 Sophomore Author Boston Posts:115 Points:1,166,415 Joined:May 2005	Message Posted: Mar 12, 2010 8:18:57 AM Ignore Eagle68 Report Abuse This isn't even news anymore...
badbonita Champion Author Syracuse Posts:1,198 Points:374,520 Joined:Jul 2008	Message Posted: Mar 12, 2010 8:17:23 AM Ignore badbonita Report Abuse Any excuse for the prices to remain up or higher.
moody4u Champion Author Cincinnati Posts:2,973 Points:574,150 Joined:Oct 2008	Message Posted: Mar 12, 2010 8:17:13 AM Ignore moody4u Report Abuse Lies !!! Who is using so much ? LIES!!
toyrunner300 Champion Author Calgary Posts:2,123 Points:1,003,740 Joined:Jan 2007	Message Posted: Mar 12, 2010 8:16:27 AM Ignore toyrunner300 Report Abuse Wait this summer, will be higher...
ironbox_sara Champion Author Albany Posts:4,706 Points:1,294,700 Joined:Mar 2006	Message Posted: Mar 12, 2010 8:14:17 AM Ignore ironbox_sara Report Abuse The big bad 'Bamma will fix this. Not.
I10Express Champion Author San Antonio Posts:3,700 Points:661,370 Joined:Nov 2008	Message Posted: Mar 12, 2010 8:14:15 AM Ignore I10Express Report Abuse Well said jdhelm
bcb_albany Rookie Author Albany Posts:41 Points:104,235 Joined:Feb 2010	Message Posted: Mar 12, 2010 8:13:49 AM Ignore bcb_albany Report Abuse Analysts and speculators - I don't mean any offense, but these are two of the scummiest professions out there these days.
jdhelm Champion Author Iowa Posts:1,399 Points:221,340 Joined:Dec 2009	Message Posted: Mar 12, 2010 8:12:10 AM Ignore jdhelm Report Abuse get all the rope in Texas - find a tall oak tree, hang all the speculators, for all the people to see. We'll all meet together at the local saloon beer for my horses.
lowerpetroprice Champion Author New Hampshire Posts:3,705 Points:750,055 Joined:Jul 2008	Message Posted: Mar 12, 2010 8:10:23 AM Ignore lowerpetroprice Report Abuse Up, up, up, oil is going to keep rising on any excuse it can.
w4kh Champion Author Riverside Posts:6,856 Points:1,274,470 Joined:May 2004	Message Posted: Mar 12, 2010 8:09:22 AM Ignore w4kh Report Abuse Remember that speculators make a profit on movement, whether up or down, and much of the trading on Wednesday was movement within a tight range...
DJRIO Champion Author Miami Posts:2,475 Points:455,650 Joined:Jan 2008	Message Posted: Mar 12, 2010 8:09:14 AM Ignore DJRIO Report Abuse dollar
nerde Champion Author Florida Posts:1,333 Points:362,825 Joined:Jul 2009	Message Posted: Mar 12, 2010 8:07:29 AM Ignore nerde Report Abuse If I remember my economics class prices increase as stockpiles grow. So prices will come down when demand increases, right? Oops.
reb4 Champion Author Chicago Posts:7,502 Points:844,395 Joined:Sep 2004	Message Posted: Mar 12, 2010 8:06:23 AM Ignore reb4 Report Abuse so it increased, but not as much as analysts predicted... think about that statement...
SpruceGuse2 Champion Author Michigan Posts:4,878 Points:1,489,765 Joined:Mar 2006	Message Posted: Mar 12, 2010 8:06:08 AM Ignore SpruceGuse2 Report Abuse All of the news about the haves and the have nots is screwing the public.
phinsup67 Champion Author North Carolina Posts:4,848 Points:673,685 Joined:Oct 2005	Message Posted: Mar 12, 2010 8:05:06 AM Ignore phinsup67 Report Abuse The more things change, the more they stay the same.
PENNYPINCHR Champion Author Twin Cities Posts:2,547 Points:1,677,125 Joined:Jul 2001	Message Posted: Mar 12, 2010 8:04:58 AM Ignore PENNYPINCHR Report Abuse Bend over here we go again..................
traindude Champion Author Virginia Beach Posts:3,320 Points:782,225 Joined:Jun 2007	Message Posted: Mar 12, 2010 8:03:51 AM Ignore traindude Report Abuse back to the recession we go
Cuzilla Champion Author Indianapolis Posts:8,809 Points:1,549,340 Joined:Sep 2005	Message Posted: Mar 12, 2010 8:01:55 AM Ignore Cuzilla Report Abuse Good news for oil investments. Hope all of you have some in your retirement accounts and some gold also - inflation is acomin'!
dhawk24 Champion Author Maine Posts:3,053 Points:672,455 Joined:Jul 2008	Message Posted: Mar 12, 2010 8:01:11 AM Ignore dhawk24 Report Abuse Until we get rid of the speculators it will only get higher. If they want to buy they should be made to take delivery...
gasper All-Star Author Edmonton Posts:622 Points:507,405 Joined:Mar 2002	Message Posted: Mar 12, 2010 8:00:20 AM Ignore gasper Report Abuse Yes its going to be an expensive summer again.
torch347 All-Star Author Indianapolis Posts:577 Points:475,485 Joined:Jul 2007	Message Posted: Mar 12, 2010 8:00:18 AM Ignore torch347 Report Abuse The stock piles increase, so why would they hope that the demand increase also. That would only mean that the pump price would increase then. What is wrong with these speculators?
1Casey Champion Author Albany Posts:2,132 Points:996,450 Joined:Jun 2004	Message Posted: Mar 12, 2010 8:00:11 AM Ignore 1Casey Report Abuse Speculators and analysts, Nothing but greed.
dan30thz28 Champion Author New Jersey Posts:1,262 Points:1,053,450 Joined:Feb 2006	Message Posted: Mar 12, 2010 7:59:31 AM Ignore dan30thz28 Report Abuse Getused to it, it's a fact of spring summer.
ILVET Champion Author Illinois Posts:9,890 Points:1,961,695 Joined:Jan 2005	Message Posted: Mar 12, 2010 7:57:56 AM Ignore ILVET Report Abuse Well good, the speculators are back!