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Oil Falls on Report Obama, Cameron Discussed SPR Release

Bloomberg -- Oil fell for the third time in four days on reports that President Barack Obama discussed a release from the U.S. Strategic Petroleum Reserve with U.K. Prime Minister David Cameron.

Futures declined 0.3 percent as Jay Carney, the White House press secretary, said the leaders reached no agreement. The price dropped as much as 1.6 percent in intraday trading after Reuters reported that two people it didn’t name said the U.K. has decided to cooperate with the U.S. on a supply release with gasoline pump prices over $3.80 a gallon.

“The market took a massive tumble on the rumors of a SPR release,” said Stephen Schork, president of the Schork Group in Villanova, Pennsylvania. “It makes sense that they would be planning a release now. We will have to see if the bears can continue to keep us...


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Submitted Mar 16, 2012 By: Mudsprings
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Falls on Report Obama, Cameron Discussed SPR Release Back to Topics
REPLIES (newest first) Post a Reply
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boldrph
Champion Author Topeka

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Joined:Oct 2002
Message Posted: Mar 17, 2012 12:21:53 AM

speculate that
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Blue48
Champion Author Illinois

Posts:9,764
Points:2,195,770
Joined:Feb 2007
Message Posted: Mar 16, 2012 11:51:06 PM

THEN WHY DID GAS GO UP .30c,TO $4.09, HERE IN PEORIA IL!
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PetroScopper
Champion Author Houston

Posts:9,022
Points:2,103,820
Joined:Aug 2008
Message Posted: Mar 16, 2012 11:17:34 PM

If we change the rhetoric, we change the prices... as long as Romney is yacking about what he going to do to Iran, along with everything else that is happening in the Middle East, we will deal with higher than normal oil and gas prices.
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SparkieMi
Champion Author Kalamazoo

Posts:5,569
Points:1,126,870
Joined:Sep 2011
Message Posted: Mar 16, 2012 11:11:56 PM

Really!!!! The price of oil may have dropped but pump prices here went up!!
More smoke blown up our ( you know what!!)
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PoohMcGoo
Champion Author Alabama

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Message Posted: Mar 16, 2012 11:01:26 PM

What, he found a magic bullet?
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ezone
Champion Author Florida

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Message Posted: Mar 16, 2012 10:56:43 PM

Sounds like the previous article.
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duffee01
Champion Author Mississippi

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Joined:Sep 2011
Message Posted: Mar 16, 2012 10:51:03 PM

Just you wait till it gets closer to November, he will be getting out the real grease so that it won't hurt none at all. In other words, you ain't seen nothing yet.
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Gas4Gore
Champion Author Detroit

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Points:600,885
Joined:Jan 2010
Message Posted: Mar 16, 2012 10:46:36 PM

If President Barack Hussein Obama wants to, he can bring down the price of gas. It all depends how much he needs to be re-elected.
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jshock
Champion Author Missouri

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Joined:Feb 2007
Message Posted: Mar 16, 2012 10:44:18 PM

Is this an election year?
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DustyHorse
Champion Author Virginia

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Joined:Oct 2008
Message Posted: Mar 16, 2012 10:42:37 PM

0.3% is not much of a drop!
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gass12
Champion Author Omaha

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Message Posted: Mar 16, 2012 10:39:27 PM

Oil has droped for 4 days this week - but the price of Gas has gone up.
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sillywagon
Champion Author New York

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Points:1,998,395
Joined:Oct 2008
Message Posted: Mar 16, 2012 10:37:20 PM

Where is the emergency? I don't like paying $3.93 a gallon, but there is no disruption in supply. This move is just political. Plus it will have short term effects.
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boborobot
All-Star Author Michigan

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Message Posted: Mar 16, 2012 10:31:49 PM

Hate speculators
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GAS1251
Champion Author Texas

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Message Posted: Mar 16, 2012 10:31:41 PM

Gas at pump rose another dime.
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dollarwatcher
Champion Author Wisconsin

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Message Posted: Mar 16, 2012 10:30:54 PM

That was yesterday, today it went up 2 something AND let our emergency supply alone.
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monarch57
Champion Author British Columbia

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Message Posted: Mar 16, 2012 10:30:38 PM

Woopie do, oil should drop $40 a barrel./
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spedygonzales
All-Star Author Toronto

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Message Posted: Mar 16, 2012 10:23:00 PM

ok i guess
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pgerassi
Champion Author Milwaukee

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Message Posted: Mar 16, 2012 10:21:42 PM

ok.
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ratones1
Champion Author Los Angeles

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Message Posted: Mar 16, 2012 10:21:28 PM

lies...
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Fedorov91
Champion Author Tampa

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Message Posted: Mar 16, 2012 10:16:37 PM

Load of crap
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Beaveronparade
Champion Author Hartford

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Message Posted: Mar 16, 2012 10:16:11 PM

Gas is still going up here in CT. It needs to go down.
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hcivic
Champion Author Virginia

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Message Posted: Mar 16, 2012 10:10:29 PM

we'll see. I dought it
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DrLyon
Champion Author Michigan

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Message Posted: Mar 16, 2012 10:09:42 PM

So gas rises here...
Go figure...
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TXGasPriceSpy
Champion Author Fort Worth

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Message Posted: Mar 16, 2012 10:07:12 PM

I wish I could believe everything I read!!!
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ghmortensen
Champion Author Minnesota

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Message Posted: Mar 16, 2012 10:03:38 PM

Bogus
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kishoreCA
Champion Author Ventura

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Message Posted: Mar 16, 2012 10:01:12 PM

just betting on a news scoop.
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Panama Red
Champion Author San Diego

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Message Posted: Mar 16, 2012 9:56:12 PM

Release of oil from the USA SPR is not a good idea. It's been tried before, with no lasting effect on gasoline prices. It is just a political
ploy in an election year.
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Asbury09
Champion Author Iowa

Posts:9,653
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Message Posted: Mar 16, 2012 9:55:55 PM

leave the SPR alone, we may need it for an emergency some day
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knot2swift
Champion Author Calgary

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Message Posted: Mar 16, 2012 9:51:47 PM

Nothing like borrowing from bank!

We all thought Greece was in trouble owing hundreds of billions. The US is at 15.5 trillion these days! The SPR is a bank.

So stupid the US is wasting money on worthless wars, homeland security and dipping into savings like the SPR.

A dying empire.
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DriverofRed
Champion Author Calgary

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Message Posted: Mar 16, 2012 9:51:28 PM

ok
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min_fuel
Champion Author Philadelphia

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Message Posted: Mar 16, 2012 9:49:14 PM

Dumb, Drill for the 1 trillion barrels of oil in North Dakota, build the Keystone XL pipeline to move it to the Gulf refineries along with the Canadian Tar Sand Oil. Do something good for yourself and America, and dump Obama.
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amearly
Champion Author Michigan

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Message Posted: Mar 16, 2012 9:47:34 PM

One says one thing while the other say is not happening , Obama will what until it's closer to election time.
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Agarre
Champion Author Richmond

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Message Posted: Mar 16, 2012 9:45:40 PM

Obama is done with office
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nightworker998
Champion Author Maryland

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Message Posted: Mar 16, 2012 9:44:32 PM

won't help the last release was bought by 2 large banks, a hedge fund, and aretirement plan.
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murph777
Veteran Author New Jersey

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Message Posted: Mar 16, 2012 9:42:26 PM

Prices still going up in our area.
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SUPERQUACK
Champion Author Sacramento

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Message Posted: Mar 16, 2012 9:42:08 PM

BACK UP TOMORROW
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Zeke33
Champion Author New Hampshire

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Message Posted: Mar 16, 2012 9:36:05 PM

Obummer is lying--just getting ready to ramp up campaigning. He wants to see what effect the lie will have on the price of oil so that he can use it again to pull himself out of the fire just before the election.
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INSugar
Rookie Author Indiana

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Message Posted: Mar 16, 2012 9:35:43 PM

Wow! What an out-and-out ploy to gain votes! Shameful.
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stephen2155
Champion Author North Carolina

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Message Posted: Mar 16, 2012 9:35:03 PM

Ok
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trojanot
Champion Author Michigan

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Message Posted: Mar 16, 2012 9:34:01 PM

The U. S. and U. K. combined can't release enough crude oil to have more than a week or two affect in the market. Far better to increase global production and refining capacity, plus look long-term at increasing alternative energy sources.
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ericbcire
Champion Author Nevada

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Message Posted: Mar 16, 2012 9:33:55 PM

Prices must drop or the economy will worsen.
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wdbtchr
Rookie Author St. Louis

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Joined:Mar 2009
Message Posted: Mar 16, 2012 9:30:31 PM

Want to see the price of gas go down, start talking about restricting gas shipments overseas. Then watch the price at the pump drop.
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us4usa
Champion Author Missouri

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Message Posted: Mar 16, 2012 9:30:21 PM

, David Greely, Goldman’s head of energy research in New York, said in a report distributed today.

“We expect prices to average $130 in 2013, so we expect them to rise higher between now and then,” Greely said. “On a 12-month horizon we see Brent prices at $127.50.”

Good thing we taxpayers bailed Goldman out so they can run us in the ditch again...
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no8c
Champion Author Ohio

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Message Posted: Mar 16, 2012 9:27:25 PM

Thanks for posting this article!
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eblair54
Sophomore Author Missouri

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Joined:Sep 2011
Message Posted: Mar 16, 2012 9:23:26 PM

By all means, discuss away! But neither Obama nor Romney has the power to lower gas prices. The price of gas is market driven, and the President of the United States (whoever he or she is) has very little influence over the economy in general, and especially over gasoline prices. You'll see, if and when a Republican gets elected, that prices will not only stay the same, but increase.
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GasFreeLeaf
Champion Author Orange County

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Message Posted: Mar 16, 2012 9:22:46 PM

Ditto toadNY
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g747
Champion Author Mobile

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Message Posted: Mar 16, 2012 9:22:02 PM

Shock the Monkey; & release the oil!!!!!!!!.
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jb107
Champion Author New Jersey

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Message Posted: Mar 16, 2012 9:21:39 PM

The prices here are up and there plan will only work for a week or so.
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notnxs383
Champion Author Missouri

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Message Posted: Mar 16, 2012 9:20:32 PM

Don't need to read this propaganda. Price at the pump keeps rising
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HailstormCA
Champion Author San Diego

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Message Posted: Mar 16, 2012 9:12:45 PM

Want to see it really drop? Discuss actually approving drilling in all areas.
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