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OIL FUTURES:Crude Hits 8-Week High On Signs Of Improved Dema

Cattle Network -- NEW YORK (Dow Jones)--Crude futures ended at an eight-week high Wednesday, boosted by data showing tightening U.S. fuel supplies and rising demand.

Light, sweet crude for April delivery settled 60 cents, or 0.7%, higher at $82.09 a barrel on the New York Mercantile Exchange, the highest since Jan. 11. Brent crude on the ICE futures exchange was recently up 41 cents, or 0.5%, at $80.32 a barrel.

Oil rose quickly after the U.S. Energy Information Administration reported larger-than-expected drops in fuel inventories, along with a slight increase in demand for oil products.

The data offered early confirmation that the economic recovery is beginning to result in a move away from the massive surplus inventories built up during the recession. Total oil and fuel inventories are at the

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Submitted Mar 10, 2010 By: dern

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honda0105 Champion Author Tallahassee Posts:15,272 Points:1,143,275 Joined:Nov 2008	Message Posted: Mar 12, 2010 8:35:30 PM Ignore honda0105 Report Abuse Enorms: you got that one right. Economy is not improving here nor is it fast anywhere else. Too bad we can't just get rid of the greedy Pig Oil barons.
honda0105 Champion Author Tallahassee Posts:15,272 Points:1,143,275 Joined:Nov 2008	Message Posted: Mar 12, 2010 8:34:42 PM Ignore honda0105 Report Abuse improved demand? Where? What was the CATTLE NETWORK scribbler smoking... some ol' cow patties with some 'shrooms in it?
ENORMS Champion Author Colorado Posts:3,014 Points:1,173,185 Joined:Sep 2006	Message Posted: Mar 11, 2010 6:08:07 PM Ignore ENORMS Report Abuse The speculators keep pushing up the price of oil until it kills the economy and puts more people out of work.
amerk73 Champion Author Dallas Posts:4,719 Points:1,157,285 Joined:Oct 2008	Message Posted: Mar 11, 2010 12:29:45 AM Ignore amerk73 Report Abuse ITS A GAME TO MAKET MORE UP
9C1 Champion Author Chicago Posts:20,408 Points:3,789,885 Joined:Jul 2001	Message Posted: Mar 11, 2010 12:20:35 AM Ignore 9C1 Report Abuse Gas went up even more today.
grouch311 Champion Author Illinois Posts:6,021 Points:1,155,340 Joined:Jun 2007	Message Posted: Mar 11, 2010 12:16:12 AM Ignore grouch311 Report Abuse went up another .10 cents here
benjy Champion Author Chicago Posts:6,864 Points:1,365,715 Joined:Nov 2003	Message Posted: Mar 11, 2010 12:13:02 AM Ignore benjy Report Abuse It's still all smoke and mirrors....
TIGERPAW46 Champion Author Florida Posts:5,159 Points:966,730 Joined:Mar 2004	Message Posted: Mar 11, 2010 12:12:47 AM Ignore TIGERPAW46 Report Abuse If economy did improve the speculators want to get every penny u have. So they nullify any improvement with increase cost of energy. If the oil industry including speculators have their way it will climb to $120 brl. or more.
roadrunnerMO Champion Author Kansas Posts:5,996 Points:1,234,235 Joined:Jul 2008	Message Posted: Mar 11, 2010 12:12:09 AM Ignore roadrunnerMO Report Abuse Now it will be back down tomorrow... Up one day, down the next.
cutter1330 Champion Author Oklahoma Posts:5,723 Points:1,230,540 Joined:Jul 2005	Message Posted: Mar 11, 2010 12:11:57 AM Ignore cutter1330 Report Abuse Wish I wasn't a consumer.
Saturn93 Champion Author Salt Lake City Posts:6,571 Points:1,488,850 Joined:Oct 2006	Message Posted: Mar 10, 2010 11:58:26 PM Ignore Saturn93 Report Abuse And we aren't even approaching the "summer driving season" yet.
pinkelefant Champion Author Sacramento Posts:16,972 Points:2,197,915 Joined:Aug 2003	Message Posted: Mar 10, 2010 11:53:16 PM Ignore pinkelefant Report Abuse speculators have a lot of issues to clear up
jeromehasbargen Champion Author Minnesota Posts:3,204 Points:627,745 Joined:Jan 2009	Message Posted: Mar 10, 2010 11:52:36 PM Ignore jeromehasbargen Report Abuse Get ready for another spike in gas prices soon.
nightworker998 Champion Author Maryland Posts:1,189 Points:509,265 Joined:Mar 2009	Message Posted: Mar 10, 2010 11:46:52 PM Ignore nightworker998 Report Abuse It will if the speculators have anything to say.
007HS Champion Author California Posts:6,959 Points:1,852,385 Joined:Aug 2003	Message Posted: Mar 10, 2010 11:46:15 PM Ignore 007HS Report Abuse ain't it all wonderful!
danreino Champion Author Twin Cities Posts:6,282 Points:1,144,245 Joined:Mar 2008	Message Posted: Mar 10, 2010 11:45:59 PM Ignore danreino Report Abuse With unemployment at 10% (actually 17%) these oil and gas prices are going to totally inhibit any recover for the economy for the foreseeable future.
rxman1 Champion Author Toledo Posts:7,012 Points:1,398,470 Joined:Nov 2007	Message Posted: Mar 10, 2010 11:45:31 PM Ignore rxman1 Report Abuse Wait a minute here. Aren't there refineries having maintenance done on them and not producing product. This would decrease fuel inventories.
LoneGuy Champion Author Lansing Posts:6,158 Points:1,858,730 Joined:Aug 2005	Message Posted: Mar 10, 2010 11:41:54 PM Ignore LoneGuy Report Abuse Will this lead to another $100/barrel summer? I'll bet we will have no help from our present administration. They will be glad to raise taxes on oil companies but they will not facilitate any exploration for domestic oil expansion. At least they are finally after 35 years reducingh their nuclear energy biases.
NorthglennBill Champion Author Denver Posts:5,204 Points:1,018,420 Joined:Oct 2008	Message Posted: Mar 10, 2010 11:40:58 PM Ignore NorthglennBill Report Abuse Everything points to 2008 gas prices all over again.
vulcan96 Champion Author Ohio Posts:21,174 Points:2,640,570 Joined:Aug 2004	Message Posted: Mar 10, 2010 11:39:04 PM Ignore vulcan96 Report Abuse is anybody else had enough of this blah , blah bs.
tedjm1 Champion Author New York Posts:3,550 Points:391,635 Joined:Dec 2006	Message Posted: Mar 10, 2010 11:36:19 PM Ignore tedjm1 Report Abuse Hard to believe anything being said about oil reserves, etc. Stories change from day-to-day.
granitestater Champion Author New Hampshire Posts:6,319 Points:1,020,195 Joined:Oct 2008	Message Posted: Mar 10, 2010 11:34:42 PM Ignore granitestater Report Abuse The definition of insanity is doing the same thing over and over and expecting a different result. The definition of stupidity is asking the same question over and over and expecting a different answer. --The cheap oil is gone. The more oil we find doesn't make it cheaper when it comes from more expensive sources. The farther, the deeper, the harder it is to find makes it more expensive. And there is a little old thing called 'inflation'. One of my first jobs, I made minimum wage. $1.70 an hour. Minimum wage is a little higher than that now. Wages and prices just can't stay the same. Even though the intrinsic value has changed. A gallon of gasoline still generates the same amount of horsepower it did when the Earth was new. Physics can't change. But the value of money does...
dks2000 Veteran Author Houston Posts:275 Points:210,750 Joined:Oct 2008	Message Posted: Mar 10, 2010 11:34:17 PM Ignore dks2000 Report Abuse "...U.S. Energy Information Administration reported larger-than-expected drops in fuel inventories, along with a slight increase in demand for oil products...." So if there was just a slight increase in demand, where did those fuel inventories go?
joel27nc Champion Author Raleigh Posts:8,167 Points:1,394,395 Joined:Mar 2008	Message Posted: Mar 10, 2010 11:33:21 PM Ignore joel27nc Report Abuse I don't think they are encouraging us.
10k Champion Author North Carolina Posts:16,607 Points:1,789,615 Joined:May 2006	Message Posted: Mar 10, 2010 11:26:22 PM Ignore 10k Report Abuse and sinking economy and a still rising unemployment rate-woohoo.. tell me i don't hate big oil..
EVBuddy Champion Author Nevada Posts:14,343 Points:2,569,615 Joined:Sep 2004	Message Posted: Mar 10, 2010 11:25:38 PM Ignore EVBuddy Report Abuse Some investors are going to lose some money.
Sealer Champion Author Charleston Posts:5,653 Points:838,400 Joined:Jan 2008	Message Posted: Mar 10, 2010 11:25:01 PM Ignore Sealer Report Abuse Increasing global demand and stagnant global supply means increasing price. How hard is that to understand?
Rageagainsttm Champion Author Tampa Posts:6,014 Points:1,448,170 Joined:Jul 2007	Message Posted: Mar 10, 2010 11:23:15 PM Ignore Rageagainsttm Report Abuse This is only going to hurt the econemy more.
granitestater Champion Author New Hampshire Posts:6,319 Points:1,020,195 Joined:Oct 2008	Message Posted: Mar 10, 2010 11:22:14 PM Ignore granitestater Report Abuse Where is oil going? First, you have to know where it comes from. And that determines the cost of oil. The shallow near-surface wells first pioneered by Edwin Drake are exhausted. We are finding plenty of oil. but it is coming from a very expensive place. See here...
Blue_Cruzer Champion Author Lexington Posts:5,162 Points:1,204,675 Joined:Mar 2007	Message Posted: Mar 10, 2010 11:21:58 PM Ignore Blue_Cruzer Report Abuse What economic recovery?
JoeKR Champion Author New Jersey Posts:7,253 Points:1,416,765 Joined:Feb 2006	Message Posted: Mar 10, 2010 11:21:09 PM Ignore JoeKR Report Abuse Crude supplies grow but the hint of rising demand send prices higher.Doesn't reality ever come to play?
skybiker Champion Author South Carolina Posts:5,491 Points:1,133,440 Joined:Jul 2008	Message Posted: Mar 10, 2010 11:20:48 PM Ignore skybiker Report Abuse Hamlet says first the lawyers ...Then the Oil speculators....:o)
ItsMorph Champion Author Grand Rapids Posts:30,101 Points:2,723,125 Joined:Mar 2004	Message Posted: Mar 10, 2010 11:18:19 PM Ignore ItsMorph Report Abuse And the cost of living keeps going up. While those in charge keep trying their damnedest to make this a third-world country.
altonb1 Champion Author Pennsylvania Posts:6,900 Points:1,055,620 Joined:Jul 2005	Message Posted: Mar 10, 2010 11:12:45 PM Ignore altonb1 Report Abuse This is double where it should be.
TBONE3 Champion Author Pennsylvania Posts:6,393 Points:1,511,720 Joined:Mar 2005	Message Posted: Mar 10, 2010 11:12:41 PM Ignore TBONE3 Report Abuse GOING UP!!!
CobraLeader Champion Author New Jersey Posts:267,902 Points:1,200,750 Joined:Apr 2007	Message Posted: Mar 10, 2010 11:12:21 PM Ignore CobraLeader Report Abuse ... Does anyone have the guts/balls/etc. to shut the speculators down? ...
FrayserMailman Sophomore Author Memphis Posts:197 Points:1,255,425 Joined:Aug 2005	Message Posted: Mar 10, 2010 11:10:37 PM Ignore FrayserMailman Report Abuse Democraps, start looking for new jobs after this next election!! We've had enough of your raising taxes and all that other Pelosi!
ElvisHounddog Champion Author Columbus Posts:55,000 Points:1,000,000 Joined:Sep 2007	Message Posted: Mar 10, 2010 11:10:06 PM Ignore ElvisHounddog Report Abuse No surprise!
pyndasky Champion Author Maryland Posts:7,581 Points:1,323,660 Joined:May 2008	Message Posted: Mar 10, 2010 11:09:02 PM Ignore pyndasky Report Abuse pump prices creepin' up here
HEBster Champion Author Kentucky Posts:6,474 Points:1,917,315 Joined:May 2006	Message Posted: Mar 10, 2010 11:08:09 PM Ignore HEBster Report Abuse Leveling off in the ATL
donzo00 Champion Author Nevada Posts:8,506 Points:1,180,930 Joined:Sep 2008	Message Posted: Mar 10, 2010 11:05:16 PM Ignore donzo00 Report Abuse gas is usually up this time of the year
Toppers Champion Author Atlanta Posts:6,673 Points:2,007,975 Joined:Mar 2005	Message Posted: Mar 10, 2010 11:04:17 PM Ignore Toppers Report Abuse Double down on conservation...
FastAndy Champion Author Indianapolis Posts:4,409 Points:1,578,510 Joined:Jun 2007	Message Posted: Mar 10, 2010 10:59:34 PM Ignore FastAndy Report Abuse Not good news for us the consumer.
rugbyphil Champion Author Las Vegas Posts:19,125 Points:3,055,475 Joined:Apr 2003	Message Posted: Mar 10, 2010 10:58:44 PM Ignore rugbyphil Report Abuse sell low, buy high
Bus561 Champion Author Lexington Posts:14,081 Points:2,754,080 Joined:May 2004	Message Posted: Mar 10, 2010 10:58:31 PM Ignore Bus561 Report Abuse It happens every year about this time with these legal thieves.
JCS319 Champion Author Tacoma Posts:14,977 Points:2,077,280 Joined:Dec 2005	Message Posted: Mar 10, 2010 10:55:57 PM Ignore JCS319 Report Abuse Who didn't know this was gonna happen?
Z51Corvette Champion Author Austin Posts:6,171 Points:1,226,590 Joined:Jan 2008	Message Posted: Mar 10, 2010 10:54:18 PM Ignore Z51Corvette Report Abuse What improved indicators. This is more manipulation by speculators to drive prices up. The economy isn't getting better, people aren't buying, demand for oil in this country ISN"T up the US IEA is screwing the American public, lilkely at the request of the IMF or International Monetary Fund. I don't believe it. Conserve, increase inventories and buy the lowest price gas you can.
HEBster Champion Author Kentucky Posts:6,474 Points:1,917,315 Joined:May 2006	Message Posted: Mar 10, 2010 10:52:09 PM Ignore HEBster Report Abuse Stabilizing in KY...
QuentD All-Star Author Georgia Posts:770 Points:881,265 Joined:Nov 2006	Message Posted: Mar 10, 2010 10:47:17 PM Ignore QuentD Report Abuse insane
Number43 Champion Author Lexington Posts:6,304 Points:1,191,830 Joined:Oct 2008	Message Posted: Mar 10, 2010 10:44:03 PM Ignore Number43 Report Abuse Since demand is dead, even a slight demand is an excuse to jack the price of oil up about $ 20.00 in the last two months. Oil usage is way down and prices are way up. And with midterm elections looming, there is no hope the money hungry politicians will take our side on anything.