Oil Prices Fall(Surprise inventory build)

money.cnn.com ^ | staff

[kellynla]

Oil prices fall on surprise inventory build. Gasoline inventories rise 2.1 million barrels. Crude oil stocks up 1.7 million barrels.

[OKIEDOC]

Well I agree that it seems any excuse to drive up the price on a contrived shortage.

[Scotswife]

"Someone must have misplaced the newly discovered inventory out behind the storage shed and no one was counting it. "

I think it was found with extra ballot boxes in Florida.

[familyop]

"But ... but ... but ... I thought there was a severe SHORTAGE of gasoline. What gives?"

Our Pres. dumped strategic reserves into the market again, so that more Democrats will vote Republican. We can always let the new Asian Triad build a little more and worry about Iran's nukes after they're mounted.

[Little irony and bitterness there.]

IMO, we could make it through market fluctuations just fine without spilling some of our defensive capability for the sake of television-head civilians. Market fluctuations are opportunities for sorely needed new competition, given a few little drops in the Rate to bring it in.

[rock58seg]

And you forgot they wound up losing their a$$e$. They finally settled 400 million on Philipp Bros. div of Engelhardt Minerals and Chemicals to settle their losses.

Now then Manipulating the price of gas is much easier. Pay the tanker per diem for about a week, hold them offshore, delaying their offloading, and watch the price per gallon rise.

[IronJack]

I think I'll have my preschoolers write scenarios for the futures trading guys...they make about as much sense!

HAHAHA! Excellent idea! The kids would be just as well informed, and every bit as believable as the balderdash that comes out of Exxon Tower.

[cherry]

"I'm sorry, but it's getting harder to believe that this is all just market economics"

. shhhhh.......you're asking for a sermon on how its just the way the market is, and the big oil companies are our friends and that just because they happen to be raking in BILLIONS doesn't mean they're really making any money.......*sigh*

[Wristpin]

The big secret which must not be discussed is the $Gazillions being made by the oil producers and speculators in this so called "free market". A "Free market" run by Monarchies, Dictators, NIMBYs and Speculators!

[MeanWestTexan]

Me: "We at the crest everyone. Relax." You: "Oh really? Do you have a crystal ball or something? We are likely not even close to the crest." News today: "U.S. light sweet crude was $2.23 a barrel lower at $70.05 a barrel by 1555 GMT, just off a session low of $69.85." Damn, I'm good.