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Oil Prices Settle at $68 a Barrel »

Posted by: STONERS 1 year, 2 months ago

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Crude oil futures settled at $68 a barrel on Friday, their highest close since September, while gasoline futures extended their rally, raising the prospect that prices at the pump will stabilize and possibly even rise after falling for several weeks.

Read Full Story at washingtonpost.com

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STONERS1 year, 2 months ago

"Gas futures have risen several days this week after a government report Wednesday that shocked traders by showing gasoline inventories remained flat as refineries used less of their capacity than they had the week before."
"The report was bullish for gasoline, but not for oil, which has been "trading in sympathy" with gas, Cordier said. That's because the refinery outages that are crimping gasoline supplies serve as a bottleneck for oil, which backs up behind the facilities waiting to be processed, he explained. Cordier thinks oil can't sustain a price this high, and should ease next week."
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MatrixBoy149 months, 4 weeks ago

wow...only 140 days passed, and now oil is above 95...almost 50% increase in just a half of the year
crazy!
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