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Posted: 2/7/2006 7:40:01 PM EDT
[Last Edit: 2/7/2006 7:40:57 PM EDT by KlubMarcus]
www.foxnews.com/story/0,2933,184126,00.html

U.S. crude settled down $2.02 to $63.09 a barrel on the New York Mercantile Exchange, extending losses since late January to more than $5. In London, Brent traded down $1.77 at $61.56 on the International Petroleum Exchange.

The losses came ahead of a U.S. government report that was expected to show an increase in domestic crude inventories of 800,000 barrels and a boost in gasoline supply of 1.6 million barrels, according to a Reuters survey. U.S. crude stockpiles are already more than 10 percent higher than they were a year ago, the result of increased foreign shipments and slower refinery activity. ...

Losses? Don't they mean SAVINGS? If the cost of oil goes down, it's saving us money.

... Saudi Arabia, the world's top oil exporter, said Tuesday it had "concerns" about the Bush administration's recent call to cut its addiction to Middle East oil. "What concerns us is all the talk about not wanting our oil," Saudi Oil Minister Ali Al-Naimi told an energy conference hosted by Cambridge Energy Research Associates.
Oh uh, now would be a good time to kiss American booty Minister Ali.
Link Posted: 2/7/2006 7:43:42 PM EDT
There goes my oil stocks profits.
Link Posted: 2/7/2006 7:44:27 PM EDT
So that means gas will go down a nickel for 3 days and then go back up a dime?
Link Posted: 2/7/2006 7:45:24 PM EDT

Originally Posted By HarrySacz:
So that means gas will go down a nickel for 3 days and then go back up a dime?



Ah....exactly.
Link Posted: 2/7/2006 7:45:30 PM EDT

Originally Posted By SWS:
There goes my oil stocks profits. hinking.gif



You should have been doing well if you have had them for very long.
RFG
Link Posted: 2/7/2006 7:46:50 PM EDT

Originally Posted By rapidfiregunner:
You should have been doing well if you have had them for very long.
RFG



I've done OK. I bought in a little too late.
Link Posted: 2/7/2006 7:52:57 PM EDT
My Energy Fund is up over 60% for last year - I love high oil prices!
Link Posted: 2/7/2006 7:54:17 PM EDT
GWB saves our ass!

thx GWB!
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