GasBuddy News Article

votes

Oil plummets amid renewed uncertainty

CNNMoney -- Oil fell on Monday, as uncertainty over the debt crisis was renewed and the dollar strengthened against major currencies.

What prices are doing: Crude plummeted $1.75 to $79.49 a barrel on Monday.

What's driving the market: Prices took a nosedive, as traders kept a wary eye on global sovereign debt issues, after a report showed renewed worries over some countries' ability to sustain a recovery.

Read the Full Article

Submitted Mar 15, 2010 By: billbearAL

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics Post New Topic

Author	Topic: Oil plummets amid renewed uncertainty	Post a Reply Back to Topics

REPLIES (newest first)

First

Next Last

nd73 All-Star Author Grand Rapids Posts:632 Points:327,790 Joined:May 2007	Message Posted: Mar 15, 2010 11:13:46 PM Ignore nd73 Report Abuse A weak dollar attracts investors looking for a "safe haven". So a stronger dollar discourages speculators, allowing the true market forces to reduce the cost of oil. Unfortunately, the super-intellectuals in Washington can't figure that out. So instead of working at getting America's economy moving again, which would continue to strengthen the dollar, the liberal bozos are quibbling over how to screw up the best health care system in the world, control how much automobile executives are paid, and how to curtail the financial industry. In November, let's vote into office some competent people for a change (you really CAN believe in!).
Amtrgas Champion Author Oakland Posts:2,090 Points:752,355 Joined:Dec 2007	Message Posted: Mar 15, 2010 10:30:45 PM Ignore Amtrgas Report Abuse The price of oil will continue zig-zag up and down for some time to come. Speculators trying to push the price up, so they make a buck. Reality and the poor economy pushing the price back down.
ops3 Champion Author Cincinnati Posts:1,229 Points:737,025 Joined:Dec 2007	Message Posted: Mar 15, 2010 9:46:43 PM Ignore ops3 Report Abuse "plummets"? When oil drops from $80 to $40, that will be a plummet. This Communist News Network headline hunting writer would turn a paper cut into a massacre!
alterman156 Champion Author New York Posts:2,300 Points:543,525 Joined:Dec 2008	Message Posted: Mar 15, 2010 8:51:55 PM Ignore alterman156 Report Abuse Now will gasoline prices plummet? I wouldn't hold my breath.
Bhmf4 Veteran Author Alabama Posts:441 Points:370,930 Joined:Oct 2008	Message Posted: Mar 15, 2010 8:15:12 PM Ignore Bhmf4 Report Abuse The speculation is just traders guess at where the market will be in a future time. They are willing to bet their money on their guess. I am not, so I do not speculate.
TheDix All-Star Author Ontario Posts:599 Points:110,115 Joined:Dec 2009	Message Posted: Mar 15, 2010 7:30:51 PM Ignore TheDix Report Abuse It has to be market speculation not supply and demand.
pgerassi Champion Author Milwaukee Posts:5,755 Points:1,130,645 Joined:Apr 2007	Message Posted: Mar 15, 2010 6:54:23 PM Ignore pgerassi Report Abuse Good!
steamtrainNV Champion Author Nevada Posts:2,949 Points:509,250 Joined:Nov 2008	Message Posted: Mar 15, 2010 6:48:30 PM Ignore steamtrainNV Report Abuse best news i heard all day
Night Owl Champion Author Toronto Posts:2,535 Points:796,440 Joined:Jul 2004	Message Posted: Mar 15, 2010 6:47:41 PM Ignore Night Owl Report Abuse Some good news. But oil prices are still way too high.
kcboy Champion Author Utah Posts:1,026 Points:791,875 Joined:Jun 2005	Message Posted: Mar 15, 2010 6:42:29 PM Ignore kcboy Report Abuse Gas didn't do it at the pumps.
WilW Champion Author Atlanta Posts:7,154 Points:1,690,220 Joined:Aug 2004	Message Posted: Mar 15, 2010 6:40:29 PM Ignore WilW Report Abuse Yet the amount of cash in my wallet also "plummets"!
dollarwatcher Champion Author Wisconsin Posts:2,806 Points:524,150 Joined:Mar 2007	Message Posted: Mar 15, 2010 6:36:18 PM Ignore dollarwatcher Report Abuse I think a slip is more accurate then 'a plummet'. A $30 drop would be a plummet.
Robert44 Champion Author Columbus Posts:2,832 Points:734,965 Joined:Mar 2004	Message Posted: Mar 15, 2010 6:35:42 PM Ignore Robert44 Report Abuse Up and Down, Up and Down, so on ...
eye-spy All-Star Author Quebec Posts:665 Points:1,432,175 Joined:Feb 2005	Message Posted: Mar 15, 2010 6:33:30 PM Ignore eye-spy Report Abuse UP - DOWN, DOWN - UP. And the beat goes on -- the beat goes on. Getting tired of this bulls**t!!!
vegaland Champion Author Houston Posts:2,313 Points:483,945 Joined:May 2006	Message Posted: Mar 15, 2010 6:32:23 PM Ignore vegaland Report Abuse It'll go back up.
uptherefiners Champion Author Chicago Posts:1,032 Points:239,630 Joined:Jun 2006	Message Posted: Mar 15, 2010 6:31:43 PM Ignore uptherefiners Report Abuse down $1.75 is better than UP $1.75
2granny Champion Author Michigan Posts:4,034 Points:449,425 Joined:Apr 2009	Message Posted: Mar 15, 2010 6:31:26 PM Ignore 2granny Report Abuse We will see what happens tomorrow. It will probably go up $3.00.
FastAndy Champion Author Indianapolis Posts:4,203 Points:1,080,560 Joined:Jun 2007	Message Posted: Mar 15, 2010 6:30:48 PM Ignore FastAndy Report Abuse Once again the only thing keeping gas prices where they are is the poor economy. Just wait until the economy improves if it ever does and see where gasoline prices are.
hibsaw Champion Author Mississippi Posts:2,925 Points:679,425 Joined:Feb 2008	Message Posted: Mar 15, 2010 6:18:14 PM Ignore hibsaw Report Abuse Plummet is not a good description for a small, one day drop in price. It will probably go up $2.00 per barrel tomorrow.
bbreff Champion Author Atlanta Posts:4,979 Points:1,600,495 Joined:Jun 2005	Message Posted: Mar 15, 2010 6:18:08 PM Ignore bbreff Report Abuse Not enough of a deop.
camel1 Champion Author Minnesota Posts:3,620 Points:1,292,575 Joined:Jul 2006	Message Posted: Mar 15, 2010 6:13:04 PM Ignore camel1 Report Abuse What goes up often comes down, but not as much as it goes up
paoli8 Champion Author Philadelphia Posts:2,777 Points:891,110 Joined:Jul 2007	Message Posted: Mar 15, 2010 6:13:04 PM Ignore paoli8 Report Abuse We have had nothing but uncertainty for over a year.
aldog365 All-Star Author Nashville Posts:848 Points:1,106,550 Joined:Aug 2005	Message Posted: Mar 15, 2010 6:03:01 PM Ignore aldog365 Report Abuse Plummet to me means several dollars at one time.
Z51Corvette Champion Author Austin Posts:4,015 Points:775,345 Joined:Jan 2008	Message Posted: Mar 15, 2010 5:56:20 PM Ignore Z51Corvette Report Abuse Plummet, no a nice drop... yeah... continued drops... GREAT!
DellDude2 Champion Author Nashville Posts:3,794 Points:1,113,085 Joined:Aug 2005	Message Posted: Mar 15, 2010 5:43:26 PM Ignore DellDude2 Report Abuse I agree with most posters, 'plummet' is the wrong word. 'Slight drop' would be closer. BTW, our pump prices have experienced a modest drop since last week, down 13 cents to $2.62.
Romey08 Champion Author Virginia Posts:1,744 Points:532,495 Joined:Apr 2008	Message Posted: Mar 15, 2010 5:42:52 PM Ignore Romey08 Report Abuse So why did gas prices increase 2 cents today?
MINER Champion Author Pittsburgh Posts:8,287 Points:2,438,945 Joined:Jul 2002	Message Posted: Mar 15, 2010 5:38:26 PM Ignore MINER Report Abuse I sure hope crude doesn't get any cheaper now, with this $3.00 gal. gas here likely by next week I will have to cut back more to one fillup a month then...
YingYangTwin Champion Author Toronto Posts:1,000 Points:175,995 Joined:Dec 2008	Message Posted: Mar 15, 2010 5:37:14 PM Ignore YingYangTwin Report Abuse Plummet... the author couldn't think of another word for "drop" so they busted out the thesaurus
4warned Champion Author Michigan Posts:4,048 Points:1,218,435 Joined:Nov 2006	Message Posted: Mar 15, 2010 5:35:56 PM Ignore 4warned Report Abuse Speculation was just trying to get us to believe things are better than they actually are. The truth eventually comes out.
04tang Champion Author Ohio Posts:1,641 Points:356,690 Joined:Jul 2006	Message Posted: Mar 15, 2010 5:33:50 PM Ignore 04tang Report Abuse I hope to see gas prices follow.
jwduke1 Champion Author Iowa Posts:11,125 Points:2,181,805 Joined:Apr 2004	Message Posted: Mar 15, 2010 5:33:08 PM Ignore jwduke1 Report Abuse But, it rises .05 cents at the pump, today!
carefrey All-Star Author Orlando Posts:837 Points:189,420 Joined:Sep 2009	Message Posted: Mar 15, 2010 5:32:50 PM Ignore carefrey Report Abuse It's probably only temporary!
BobbyVA Champion Author Virginia Beach Posts:1,285 Points:277,665 Joined:Jul 2009	Message Posted: Mar 15, 2010 5:32:08 PM Ignore BobbyVA Report Abuse Typical CNN reporting, crude plummeted $1.75, what's that, 2%. This is just like they reported the election, biased and not factual. Seems as if plummeted would be about 15-20% and actually mean something.
BamaPack All-Star Author Atlanta Posts:846 Points:224,425 Joined:Sep 2008	Message Posted: Mar 15, 2010 5:31:22 PM Ignore BamaPack Report Abuse Just after I filled up
georgeo Champion Author California Posts:2,309 Points:93,010 Joined:May 2009	Message Posted: Mar 15, 2010 5:28:54 PM Ignore georgeo Report Abuse The speculators began to believe their own lies. Most of the news has been fairy tales.
fullauto All-Star Author Reading Posts:786 Points:567,395 Joined:Apr 2008	Message Posted: Mar 15, 2010 5:28:28 PM Ignore fullauto Report Abuse a 'plummet' would be $10 oil.
murdershewrote Champion Author Riverside Posts:4,442 Points:1,595,660 Joined:Mar 2005	Message Posted: Mar 15, 2010 5:24:31 PM Ignore murdershewrote Report Abuse love when they report it as plummet...1.75...big plummett
rumbleseat Champion Author Winnipeg Posts:16,650 Points:2,690,045 Joined:Oct 2002	Message Posted: Mar 15, 2010 5:22:40 PM Ignore rumbleseat Report Abuse $1.75 would be a plummet if the price of oil were under $30 a barrel. At $80 a barrel it is just over a 2% drop, a mere blip.
wizzard1222 Champion Author St. Louis Posts:3,514 Points:1,305,540 Joined:Mar 2006	Message Posted: Mar 15, 2010 5:21:20 PM Ignore wizzard1222 Report Abuse Plummet...ed ??? $1.75 Give me a break !!!
badbonita Champion Author Syracuse Posts:1,007 Points:337,765 Joined:Jul 2008	Message Posted: Mar 15, 2010 5:18:35 PM Ignore badbonita Report Abuse Is it an odd day - prices must be falling. Tomorrow is an even numbered day so the price should go up. There's my speculation.
rollma2 All-Star Author Montreal Posts:529 Points:130,380 Joined:Jul 2009	Message Posted: Mar 15, 2010 5:17:40 PM Ignore rollma2 Report Abuse heard this before
Sneakers55 Champion Author Houston Posts:31,142 Points:1,257,695 Joined:Nov 2005	Message Posted: Mar 15, 2010 5:09:17 PM Ignore Sneakers55 Report Abuse If you want to see "plummeting" try oil and gas royalty trusts. Their income is pretty much tied to oil price indexes.
pliskin Champion Author Syracuse Posts:3,076 Points:941,955 Joined:Apr 2005	Message Posted: Mar 15, 2010 5:03:10 PM Ignore pliskin Report Abuse It may drop only to rise again. We all know that this market speculation is only pure speculation and won't be down for very long.
goldseeker Champion Author West Virginia Posts:12,675 Points:1,708,740 Joined:Sep 2005	Message Posted: Mar 15, 2010 5:02:41 PM Ignore goldseeker Report Abuse This is a totally worthless thread. Oil goes up and down all the time. Pump prices are still high at around $3.00 per gallon here.
gp7 Rookie Author Massachusetts Posts:57 Points:126,065 Joined:Nov 2005	Message Posted: Mar 15, 2010 5:01:55 PM Ignore gp7 Report Abuse Imagine if it dropped $2.00! What kind of adjetive would they use then!!
outlaw329 Champion Author Austin Posts:2,629 Points:428,100 Joined:Aug 2008	Message Posted: Mar 15, 2010 5:00:35 PM Ignore outlaw329 Report Abuse Plummet, to decline sharply, a steep decline. That would mean plummeted should amount to something like 25.00 or more. Now that is a plummet where as 1.75 is more of a slight decline.
aarrrt Champion Author San Diego Posts:2,809 Points:678,625 Joined:May 2008	Message Posted: Mar 15, 2010 5:00:22 PM Ignore aarrrt Report Abuse Same old story.
TAT36 Champion Author Florida Posts:1,608 Points:306,860 Joined:Sep 2009	Message Posted: Mar 15, 2010 5:00:11 PM Ignore TAT36 Report Abuse The old saying what goes up must come down didn't take into account oil or gas prices. they are the only thing I know of that works the other way. What goes oil prices go down makes gas prices go up. Go figure.
NHLiveFree Champion Author New Hampshire Posts:3,787 Points:630,860 Joined:Jun 2008	Message Posted: Mar 15, 2010 5:00:07 PM Ignore NHLiveFree Report Abuse Totally agree with you djgunrunner. It's time for our politicians to stop taking payoffs from Big Oil and start controling energy prices for us!
WIPACKERFAN Champion Author Chicago Posts:3,753 Points:840,435 Joined:Aug 2005	Message Posted: Mar 15, 2010 4:59:27 PM Ignore WIPACKERFAN Report Abuse Still way too high.