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Crude Extends Losses After Inventories Climb

Dow Jones Newswires --
Oil futures tumbled after a report on U.S. oil inventories showed stockpiles rose unexpectedly last week while gasoline demand fell sharply.

Light, sweet crude oil for July delivery fell $1.65, or 2%, to $82.38 a barrel on the New York Mercantile Exchange. With the July contract set to expire at the settlement Wednesday, August futures fell $1.74, or 2%, to $82.61 a barrel.

Brent crude oil on ICE Futures Europe fell $1.24, or 1.3%, to $94.52 a barrel.

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Submitted Jun 21, 2012 By: RENEGADEGAS

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honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Jun 24, 2012 8:52:40 AM Ignore honda0105 Report Abuse low crude prices mean also low overall global economic growth.
sparky808 Champion Author Honolulu Posts:3,018 Points:601,635 Joined:Sep 2011	Message Posted: Jun 22, 2012 1:37:47 PM Ignore sparky808 Report Abuse Thank you for posting.
Ahking Champion Author Orange County Posts:3,522 Points:606,375 Joined:May 2011	Message Posted: Jun 22, 2012 12:11:41 AM Ignore Ahking Report Abuse good
Dodge_Me Champion Author Atlanta Posts:2,214 Points:558,480 Joined:Mar 2006	Message Posted: Jun 22, 2012 12:03:01 AM Ignore Dodge_Me Report Abuse Keep going down!
aggietim Champion Author Fort Worth Posts:1,756 Points:695,575 Joined:Oct 2008	Message Posted: Jun 22, 2012 12:02:50 AM Ignore aggietim Report Abuse good
mrbee Champion Author Little Rock Posts:3,773 Points:2,469,510 Joined:Oct 2005	Message Posted: Jun 21, 2012 11:59:20 PM Ignore mrbee Report Abuse About time
dabbadu Champion Author New York Posts:1,056 Points:662,505 Joined:Feb 2011	Message Posted: Jun 21, 2012 11:58:07 PM Ignore dabbadu Report Abuse Great!
Hangnail309 Champion Author Manitoba Posts:6,039 Points:1,680,105 Joined:Aug 2006	Message Posted: Jun 21, 2012 11:57:55 PM Ignore Hangnail309 Report Abuse Ok, but not at the pump!
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Jun 21, 2012 11:56:57 PM Ignore jessek Report Abuse OK by me.
menagerie1013 Champion Author San Diego Posts:2,365 Points:692,240 Joined:Apr 2011	Message Posted: Jun 21, 2012 11:56:19 PM Ignore menagerie1013 Report Abuse I'm not gonna complain about lower gas prices.
G.Lee Champion Author Colorado Springs Posts:22,784 Points:3,417,125 Joined:Sep 2003	Message Posted: Jun 21, 2012 11:54:13 PM Ignore G.Lee Report Abuse Ok
Bezalel Champion Author Oklahoma City Posts:12,112 Points:2,293,675 Joined:Oct 2006	Message Posted: Jun 21, 2012 11:54:11 PM Ignore Bezalel Report Abuse "...gasoline demand fell sharply. " Not at the pump.
craigrm Champion Author Connecticut Posts:1,745 Points:581,805 Joined:Mar 2008	Message Posted: Jun 21, 2012 11:48:18 PM Ignore craigrm Report Abuse Nobama.
Spankster85 Champion Author Chicago Posts:1,744 Points:359,990 Joined:Nov 2011	Message Posted: Jun 21, 2012 11:45:13 PM Ignore Spankster85 Report Abuse Keep falling.
69Bonne Champion Author Gary Posts:1,165 Points:476,075 Joined:Sep 2005	Message Posted: Jun 21, 2012 11:43:45 PM Ignore 69Bonne Report Abuse Good.
DrLyon Champion Author Michigan Posts:6,660 Points:1,214,530 Joined:May 2006	Message Posted: Jun 21, 2012 11:42:57 PM Ignore DrLyon Report Abuse Keep loosing...
Yankee829 Champion Author Dallas Posts:2,221 Points:562,515 Joined:Sep 2010	Message Posted: Jun 21, 2012 11:41:20 PM Ignore Yankee829 Report Abuse Ok
DustyHorse Champion Author Virginia Posts:6,103 Points:1,394,770 Joined:Oct 2008	Message Posted: Jun 21, 2012 11:38:54 PM Ignore DustyHorse Report Abuse I guess someone figured they had better unload all of those tankers they were storing oil on before the price goes down further.
WIPACKERFAN Champion Author Chicago Posts:8,814 Points:1,845,400 Joined:Aug 2005	Message Posted: Jun 21, 2012 11:36:23 PM Ignore WIPACKERFAN Report Abuse Keep it going down.
yayap17 Rookie Author San Diego Posts:33 Points:11,595 Joined:Jun 2012	Message Posted: Jun 21, 2012 11:35:00 PM Ignore yayap17 Report Abuse I hope they keep falling
PizzaMon Champion Author Philadelphia Posts:5,134 Points:1,864,280 Joined:Jun 2006	Message Posted: Jun 21, 2012 11:28:25 PM Ignore PizzaMon Report Abuse Bet some speculators are crying for a change.
Zonk Champion Author Michigan Posts:6,496 Points:2,105,690 Joined:Oct 2005	Message Posted: Jun 21, 2012 11:26:45 PM Ignore Zonk Report Abuse Let's hope this trend continues.
nru Champion Author Twin Cities Posts:1,763 Points:986,080 Joined:Feb 2006	Message Posted: Jun 21, 2012 11:22:35 PM Ignore nru Report Abuse let's hope prices go below $30/barrel - drop like a rock
blah2blah3 Champion Author Houston Posts:2,621 Points:603,895 Joined:May 2011	Message Posted: Jun 21, 2012 11:22:27 PM Ignore blah2blah3 Report Abuse ok
jpj23 Champion Author Los Angeles Posts:5,720 Points:1,101,650 Joined:Jul 2008	Message Posted: Jun 21, 2012 11:21:30 PM Ignore jpj23 Report Abuse I do hope that a lot of speculators lose their shirts on this reversal.
skyking19 Champion Author Little Rock Posts:2,006 Points:1,701,665 Joined:Jan 2007	Message Posted: Jun 21, 2012 11:18:28 PM Ignore skyking19 Report Abuse Come on down!
DABEE1073 Champion Author San Diego Posts:8,220 Points:1,576,010 Joined:Jun 2008	Message Posted: Jun 21, 2012 11:16:07 PM Ignore DABEE1073 Report Abuse LET CRUDE OIL FALL TO $25 A BARREL. A MORE REALISTIC PRICE.
carpenter4u Champion Author Virginia Posts:2,436 Points:618,645 Joined:Jul 2011	Message Posted: Jun 21, 2012 11:07:20 PM Ignore carpenter4u Report Abuse glad I don't own oil futures at this time
OGW Champion Author London Posts:5,334 Points:1,534,725 Joined:Sep 2005	Message Posted: Jun 21, 2012 11:04:03 PM Ignore OGW Report Abuse High inventories and low prices sound good to me.
Mowerman08 Champion Author Milwaukee Posts:4,770 Points:1,220,695 Joined:Aug 2008	Message Posted: Jun 21, 2012 10:57:50 PM Ignore Mowerman08 Report Abuse $35 would be a good goal!
FuelOilOH Champion Author Cleveland Posts:2,842 Points:1,181,295 Joined:Oct 2007	Message Posted: Jun 21, 2012 10:55:25 PM Ignore FuelOilOH Report Abuse Time to get more gas cans.
judgemobile Champion Author Ohio Posts:7,585 Points:2,448,060 Joined:Nov 2005	Message Posted: Jun 21, 2012 10:55:01 PM Ignore judgemobile Report Abuse retail pump prices SHOULD BE under $ 3.00, but greedy station owners want that extra money of they can get it.
isis1812 Veteran Author West Virginia Posts:367 Points:192,615 Joined:Mar 2012	Message Posted: Jun 21, 2012 10:54:31 PM Ignore isis1812 Report Abuse Ok
txkrb Champion Author Texas Posts:1,564 Points:640,110 Joined:May 2011	Message Posted: Jun 21, 2012 10:48:44 PM Ignore txkrb Report Abuse Down another $3 to $78.20 today Wholesale price of gas dropped to $2.55 lowest since December If it does not jump back up in the next day or so we should see gas prices down almost .10
24541 Champion Author Virginia Posts:1,109 Points:1,793,715 Joined:Mar 2004	Message Posted: Jun 21, 2012 10:47:32 PM Ignore 24541 Report Abuse Good deasl
grn7stars Rookie Author Washington Posts:36 Points:168,850 Joined:Jun 2012	Message Posted: Jun 21, 2012 10:45:42 PM Ignore grn7stars Report Abuse ok
kishoreCA Champion Author Ventura Posts:3,136 Points:395,070 Joined:Mar 2012	Message Posted: Jun 21, 2012 10:45:27 PM Ignore kishoreCA Report Abuse good
Piniewoods All-Star Author Jacksonville Posts:892 Points:461,915 Joined:Aug 2005	Message Posted: Jun 21, 2012 10:43:54 PM Ignore Piniewoods Report Abuse Fall baby fall!
drz614 Champion Author Harrisburg Posts:2,314 Points:601,145 Joined:Aug 2011	Message Posted: Jun 21, 2012 10:43:40 PM Ignore drz614 Report Abuse today it ended below 80. didn't c any drop at the pump.
carman11 Champion Author North Carolina Posts:3,353 Points:694,650 Joined:Jun 2011	Message Posted: Jun 21, 2012 10:41:16 PM Ignore carman11 Report Abuse ok
rampower80 Champion Author Kentucky Posts:2,059 Points:464,840 Joined:Jan 2012	Message Posted: Jun 21, 2012 10:34:18 PM Ignore rampower80 Report Abuse Good news!
Is246 Champion Author Albuquerque Posts:1,019 Points:428,710 Joined:Apr 2011	Message Posted: Jun 21, 2012 10:31:50 PM Ignore Is246 Report Abuse The lower the better.
DTrainCanada Champion Author Saskatoon Posts:1,848 Points:1,423,325 Joined:Aug 2005	Message Posted: Jun 21, 2012 10:29:00 PM Ignore DTrainCanada Report Abuse $80/barrel is about right ...
ByGuy Champion Author Dallas Posts:7,863 Points:1,711,190 Joined:Nov 2005	Message Posted: Jun 21, 2012 10:25:59 PM Ignore ByGuy Report Abuse It is finally going in right direction.
feistyfella All-Star Author Georgia Posts:881 Points:196,245 Joined:Jun 2010	Message Posted: Jun 21, 2012 10:24:54 PM Ignore feistyfella Report Abuse ICE
fenster66 Champion Author Pittsburgh Posts:3,360 Points:676,040 Joined:May 2011	Message Posted: Jun 21, 2012 10:24:13 PM Ignore fenster66 Report Abuse keep it down, now...
RUNNINONEMPTYFL Champion Author Florida Posts:1,408 Points:460,825 Joined:May 2011	Message Posted: Jun 21, 2012 10:21:48 PM Ignore RUNNINONEMPTYFL Report Abuse Here we go again...
ericbcire Champion Author Nevada Posts:4,540 Points:1,270,635 Joined:Aug 2009	Message Posted: Jun 21, 2012 10:18:39 PM Ignore ericbcire Report Abuse Prices must drop further or the economy will worsen.
IUVidiot Champion Author Indiana Posts:3,605 Points:712,360 Joined:Jun 2011	Message Posted: Jun 21, 2012 10:16:08 PM Ignore IUVidiot Report Abuse ok
bbreff Champion Author Atlanta Posts:9,863 Points:2,571,340 Joined:Jun 2005	Message Posted: Jun 21, 2012 10:14:50 PM Ignore bbreff Report Abuse OK