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Oil drops 9 percent on week on stronger dollar, glut warning
reuters.com ^ | March 13, 2015 | Barani Krishnan

Posted on 03/13/2015 2:36:26 PM PDT by Berlin_Freeper

Global oil prices tumbled on Friday and fell 9 percent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency (IEA) that the oil glut is growing.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy
KEYWORDS: fracking; opec; refinerystrike; royaldutchshell; saudiarabia; unitedsteelworkers; usw
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To: Berlin_Freeper

It’s up around $3 in Fairbanks, this was after it was down to $2.50.
We are hosed no matter what and suppliers know it. We are a small market with no choice and no competition.


21 posted on 03/13/2015 5:09:13 PM PDT by vpintheak (Call them what they are - regressive control-freaks)
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To: vpintheak

In early January we saw $1.75/ gallon. I saw a place in Oklahoma close to Wichita Falls where gas was $1.49. Now, it’s back up to $2.35-2.39/gal. depending on the day.


22 posted on 03/13/2015 6:00:04 PM PDT by PrairieLady2
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To: fhayek

Cleanest dirty shirt in the hamper.


23 posted on 03/13/2015 6:33:14 PM PDT by CPT Clay (Follow me on Twitter @Clay N TX)
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To: SunkenCiv

Awesome post!


24 posted on 03/13/2015 6:34:23 PM PDT by CPT Clay (Follow me on Twitter @Clay N TX)
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To: Berlin_Freeper

Storage will be difficult to find starting next month I’ve read and the expectation is for another leg down on US crude.


25 posted on 03/13/2015 6:36:15 PM PDT by nascarnation (Impeach, convict, deport)
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To: CPT Clay

Thanks!


26 posted on 03/13/2015 6:40:25 PM PDT by SunkenCiv (What do we want? REGIME CHANGE! When do we want it? NOW!)
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To: rktman

“LOL! You really have to ask? It’s gotta be linked to the evil Koch brothers and their plans to buy congress. Or take over the world. Or something. :>}”

LOL! i was just stating the obvious, as someone is making some money off those of us who still drive gasoline-fueled motor cars.


27 posted on 03/13/2015 6:42:19 PM PDT by IWONDR
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To: rktman

“Glut hell. It’s back up to over $3/gal in Reno.”

The “phony price increase” is due to the refinery strike by the Steelworkers coupled with the “annual changeover and maintenance” at California refineries. They “conveniently” call these events “a shortage” and raise prices accordingly. Six weeks ago I was paying right at $2.00 per gallon. Just bought gas today at $3.26! This is simple thievery and if we had a decent government, the oil companies would be having to answer. But the states are in deep $hit due to the loss of tax revenue caused by the prices falling, so they are complicit in this ripoff.


28 posted on 03/13/2015 7:35:34 PM PDT by vette6387
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To: fhayek

09 bailout feigned as Body Mortgage Care.

Forced Body trafficking upon every U.S. citizen.


29 posted on 03/13/2015 8:11:35 PM PDT by Varsity Flight (Extortion-Care is is the Government Work-Camp: Arbeitsziehungslager)
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To: rktman
Gas is about $2.20 on MS Gulf Coast (around Biloxi) - up from about $1.85 6 weeks ago or so.

Some from the interim rise in prices (been dropping a bit again). some from the strikes, and some from the "world-saving" Summer blend modifications.

30 posted on 03/14/2015 3:57:30 AM PDT by trebb (Where in the the hell has my country gone?)
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To: fhayek

Good line!! Bob


31 posted on 03/14/2015 7:33:07 AM PDT by alstewartfan ("Just call me if you ever need repairs." Flying Sorcery by Al Stewart)
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To: CPT Clay

The lightest oozer in the leper colony.


32 posted on 03/14/2015 7:35:40 AM PDT by Old Yeller (Civil rights are for civilized people.)
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To: IWONDR

Yeah, no doubt. I hear the re-sale for hybrids is.........uh, not that great. ‘Specially if it’s nearing time for a battery swap. Ouch!


33 posted on 03/14/2015 7:52:25 AM PDT by rktman (Served in the Navy to protect the rights of those that want to take some of mine away. Odd, eh?)
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To: luvbach1

I guess it must be nice. I have a good buddy that’s selling his house in Arizona and moving back there to be near his REAL nice sail boat. He grew up there (San Diego) and is determined to move back. He’s quite conservative so maybe his one vote can help alter the Cali politics. :>}


34 posted on 03/14/2015 7:56:50 AM PDT by rktman (Served in the Navy to protect the rights of those that want to take some of mine away. Odd, eh?)
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