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Oil sees choppy trade ahead of inventory data

MarketWatch -- U.S. oil futures edged higher in choppy electronic trade Wednesday as investors looked ahead to weekly inventory reports.

Crude oil for March delivery were little changed, gaining 2 cents to trade at $96.68 a barrel, ahead of the contract’s expiration at the end of the global day.

The moves follow March crude’s 80-cent advance in Tuesday’s floor session on the New York Mercantile Exchange. Those gains came in the wake of upbeat German data, and as the S&P 500 rallied to a new five-year high. Read: Oil futures end higher, back above $96 a barrel.

But analysts at Citi Futures said that the market could be ignoring bearish supply fundamentals.

“Focus on the S&P rally and the intermediate-term rally in crude-oil prices, for example, and one might miss that U.S. crude-oil production has ...


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Submitted Feb 20, 2013 By: brbaritone
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil sees choppy trade ahead of inventory data Back to Topics
REPLIES (newest first) Post a Reply
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clermont40miles
Champion Author Cincinnati

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Joined:Apr 2008
Message Posted: Feb 20, 2013 8:39:14 PM

Good to see price of oil and gasoline drop today.

Needs to keep dropping.
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toadNY
Champion Author Albany

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Points:2,001,650
Joined:Apr 2008
Message Posted: Feb 20, 2013 8:34:21 PM

Gas up here .35 cents last 24 days. This recession under obamas watch, will it still be Bush's fault?
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edamp04
Champion Author Fort Worth

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Message Posted: Feb 20, 2013 8:25:29 PM

Way too high
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monarch57
Champion Author British Columbia

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Points:204,420
Joined:Nov 2008
Message Posted: Feb 20, 2013 8:25:13 PM

Unless oil goes down we will be heading into a serious recession. Gas went up 21 cents a liter in the last 10 days.
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wayoung56
Champion Author Alabama

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Message Posted: Feb 20, 2013 8:21:35 PM

Sounds more like a deepening recession instead of a faux economic recovery is in store for us...
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milespergallon
Champion Author Illinois

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Message Posted: Feb 20, 2013 8:20:39 PM

Make it easy for everyone. Eliminate the specu-traitors and prices will return the the economic phase of supply and demand. As in really drop!
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mstearno
Champion Author Dayton

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Message Posted: Feb 20, 2013 8:19:53 PM

recession again
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MadDogUSMC
Champion Author Jacksonville

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Message Posted: Feb 20, 2013 8:17:39 PM

Meanwhile, the greedy bunch of aholes is driving the pump prices up! It's gone up $0.40 here since Friday!
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geoutpb
Champion Author Midland Odessa

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Message Posted: Feb 20, 2013 8:17:15 PM

This can not be good.
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Robert44
Champion Author Columbus

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Message Posted: Feb 20, 2013 8:13:49 PM

Lukus : we need speculators to help drive price back down!!!!
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bvrbill
Champion Author Eugene

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Message Posted: Feb 20, 2013 8:08:05 PM

Prices still rising at the pump.
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FlyNFool
Champion Author South Carolina

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Message Posted: Feb 20, 2013 8:05:34 PM

Won't make a difference.
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Lukus
Champion Author Halifax

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Message Posted: Feb 20, 2013 8:03:21 PM

Obama should be shutting down Wall Street's access to the Futures Market in oil. Maybe it will slow the up prices of the spectulators.
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30mpg80
Champion Author Lexington

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Message Posted: Feb 20, 2013 7:59:30 PM

Whatever the speculators want, they will make it happen.
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MG_Sputnik
Champion Author Philadelphia

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Message Posted: Feb 20, 2013 7:56:55 PM

Inventory data. What a bunch of major league BS!
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GNo1
Champion Author Nashville

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Message Posted: Feb 20, 2013 7:50:02 PM

frack and pump. The answer.
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txkrb
Champion Author Texas

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Message Posted: Feb 20, 2013 7:42:29 PM

Actually oil was down over $2 today
Article was posted before afternoon trading session
Full article has been corrected
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mikaye
Champion Author Cleveland

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Message Posted: Feb 20, 2013 7:37:41 PM

inventory means nothing gas prices rise when inventory is high or low it depends on how much they are gouging
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abcdMA
Champion Author Worcester

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Message Posted: Feb 20, 2013 7:36:47 PM

Oh well, tomorrow will tell
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Quick68
Champion Author Columbus

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Message Posted: Feb 20, 2013 7:31:37 PM

Inventory on oil is BS. As long as we have lawmakers in Washington that is trying their best to turn our country into capitalist country the price of gas will keep going up.
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N4PIP
Champion Author Miami

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Message Posted: Feb 20, 2013 7:29:21 PM

"bearish supply"? That's a joke. The trading prices have little to do with supply and demand. Prices should be significantly lower because of reduced demand.
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walkingtall
Champion Author Toronto

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Message Posted: Feb 20, 2013 7:28:58 PM

It doesn't seem to matter what occurs prices just go up.
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drz614
Champion Author Harrisburg

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Message Posted: Feb 20, 2013 7:28:44 PM

the current resident in the wh will not be happy until gas hits 5+ per gallon. thank those u voted 4 him
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fullauto
Champion Author Reading

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Message Posted: Feb 20, 2013 7:19:52 PM

yep
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grt197
Champion Author Illinois

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Message Posted: Feb 20, 2013 7:12:08 PM

ok got it
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iamforiu
Champion Author Indiana

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Message Posted: Feb 20, 2013 7:11:40 PM

ok
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ericbcire
Champion Author Nevada

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Message Posted: Feb 20, 2013 7:10:20 PM

Prices must drop or the economy will worsen.
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prassu2012
Champion Author Illinois

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Message Posted: Feb 20, 2013 7:05:06 PM

may be effects current data
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theschmuck
Champion Author Michigan

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Message Posted: Feb 20, 2013 7:04:47 PM

If it continues to be choppy, wear your seatbelts.
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satrn38mpg
Champion Author Raleigh

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Message Posted: Feb 20, 2013 7:03:01 PM

just more of the same old bs >>
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AliasBob
Rookie Author California

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Message Posted: Feb 20, 2013 7:02:59 PM

This does not surprise me at all. I watched the prices at two stations here today go up .10 cents in 2 hours.
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Darwin00
Champion Author Mississippi

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Message Posted: Feb 20, 2013 7:01:55 PM

Ok
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HailstormCA
Champion Author San Diego

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Message Posted: Feb 20, 2013 7:01:09 PM

Ho ho ho. There's mice in the bread box.
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KhelbenArunson
Champion Author Michigan

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Message Posted: Feb 20, 2013 7:00:26 PM

It is going to be real choppy once we find a viable alternative.
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GManCo
Champion Author Colorado Springs

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Message Posted: Feb 20, 2013 7:00:23 PM

It is making me money!!!
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SandeeC
Champion Author Ontario

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Message Posted: Feb 20, 2013 6:57:58 PM

Nothing new.
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IUVidiot
Champion Author Indiana

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Message Posted: Feb 20, 2013 6:54:46 PM

politics
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mrbee
Champion Author Little Rock

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Message Posted: Feb 20, 2013 6:51:11 PM

More like, up, up, up.
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Blue48
Champion Author Illinois

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Message Posted: Feb 20, 2013 6:49:53 PM

UP..DOWN..UP..DOWN!
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esquared
Champion Author Oklahoma City

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Message Posted: Feb 20, 2013 6:49:52 PM

Require speculators to take delivery -- now!
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PoohMcGoo
Champion Author Alabama

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Message Posted: Feb 20, 2013 6:49:48 PM

Ok
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AKmailman
Champion Author Alaska

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Message Posted: Feb 20, 2013 6:49:18 PM

When will we learn that the price of oil and the price
of ga are not related ?
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mrsclaus2013
Rookie Author Birmingham

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Message Posted: Feb 20, 2013 6:47:08 PM

dang
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RBob
Champion Author Portland

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Message Posted: Feb 20, 2013 6:43:44 PM

Speculators on exploration, speculators on drilling, speculators on crude supplies, speculators on pipelines, speculators on storage of crude, speculators on the refined product... And we wonder why the price is so high..??
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lowspeed
Champion Author Akron

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Message Posted: Feb 20, 2013 6:41:55 PM

It seems as if everything makes fuel prices rise
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dollarwatcher
Champion Author Wisconsin

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Message Posted: Feb 20, 2013 6:41:15 PM

Just makes ya wanna puke don't it.
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hcivic
Champion Author Virginia

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Message Posted: Feb 20, 2013 6:40:40 PM

lookin to go up more in March
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scubadaniel
Champion Author Dayton

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Message Posted: Feb 20, 2013 6:40:28 PM

This administration has screwed this economy in so many way, it doesn't seem to matter what we do.
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knifeman9
Champion Author North Carolina

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Message Posted: Feb 20, 2013 6:39:39 PM

Something needs to be done to end this ...trade? How about price manipulation
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bonzoonfmb
Champion Author Florida

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Message Posted: Feb 20, 2013 6:34:07 PM

Gas prices are too high.
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