Posted on 05/24/2006 4:33:16 AM PDT by Flavius
NEW YORK — Crude futures gained more than 2 percent Tuesday, as scientists' predictions about the next Atlantic hurricane season and a fire at a Louisiana refinery renewed concerns about potential supply disruptions in the Gulf of Mexico.
Hurricane experts said the season should be an active one, but that this year's is unlikely to be as strong as in 2005.
(Excerpt) Read more at foxnews.com ...
More the fire in the refinery.
Any excuse to jack up futures prices will do.
Nah, that ain't what did it.
Actually, the vacation scheduling for refinery workers got released and the fact that more than two workers at one time are going on vacation got out.
This panicked the speculators and will make the price of gasoline rise at least .15 cents between now and next month, not to mention the fact that it panicked the oil futures into another $3.00 a barrel rise.
Or something equally stupid.
Who knows, nowadays?
Your Aunt Tillie's hang nail may be enough to trigger another price increase.
They take their profits the price goes down, they start buying for new profits and it goes up. Its a yo-yo run by the manipulators. Speculators are setting the price of gas. It no longer has anything to do with supply and demand.
Typical media. They are the expert in everything. If they say that it's the concern for the hurricane season that is fueling the price increase, then it must be true.
I heard that not one, but THREE butteflies were spotted flapping their wings in an Amazonian rain forest. Analysts expect it to cost at least 25 cents at the pump.
I made the same statement a while back on another thread. I was chastised and told that this is a good thing and that it provides liquidity for the market.
....No, I have no idea what this means.
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Neat.
Okay, listen up: I bet someone will find a new oil deposit somewhere soon.
(That comment alone should lower the price at the pump 5 cents.)
I guess the next price rise will be due to us being unable to assert there is oil on the Moon and the fact that it will take decades before we can even begin to debate on whether it will be an environmental disaster to allow drilling on Mars.
More "good capitalism"...
Fear of high prices pushes prices higher
It's about time we opened "season" on the fraidy-cat futures traders......
Oil Falls on Speculation U.S. Gasoline Supplies Rose Last Week
Does anything else have a hard time figuring this stuff out when simultaneous headlines provide exactly the opposite news?
Two rain clouds formed over the central GOM this morning, driving oil prices higher. This could have been prevented had Bush implemented Kyoto.
Is there ANY WAY to remove crude from the futures market? Most of the damage is from these idiot speculators.
I think something should be done about this. Of course my initial comment was an overstretch "jailing the speculators" but we simply cannot allow these morons to dictate the way we should live. Oil is much important commodity for our economy and politics that we simply cannot put it pricing in the hand of knee jerk reactionaries.
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