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Nymex Crude Jumps Again on Seasonal, Geopolitical Factors

Rigzone -- Oil prices rose again Wednesday, blowing past a mediocre oil inventory report to notch a higher closing price for the sixth straight day.

Light, sweet crude for August delivery settled at $89.87 a barrel on the New York Mercantile Exchange, up 65 cents or 0.7%. Brent crude on ICE futures exchange was trading at $105.18 a barrel, up $1.18.

Oil has gained 7.1% over the last six sessions. Since June 28, oil has risen 15.7%, well above the 3.2% gain in the S&P 500 and the 4.3% gain in copper over this time.

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Submitted Jul 19, 2012 By: fowlcan

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doctorindyj Champion Author Santa Fe Posts:3,543 Points:865,285 Joined:Nov 2009	Message Posted: Jul 19, 2012 11:02:21 AM Ignore doctorindyj Report Abuse SSDD.
OldMan322 Champion Author Illinois Posts:5,287 Points:1,622,130 Joined:Jul 2008	Message Posted: Jul 19, 2012 9:17:07 AM Ignore OldMan322 Report Abuse "sljbc475" BULL !! speculators and other crooks
sljbc475 Champion Author Tucson Posts:4,360 Points:900,075 Joined:Dec 2010	Message Posted: Jul 19, 2012 8:53:02 AM Ignore sljbc475 Report Abuse Everyday adjustments.
PCollen Sophomore Author Florida Posts:192 Points:48,160 Joined:Mar 2012	Message Posted: Jul 19, 2012 8:26:03 AM Ignore PCollen Report Abuse Two steps forward, one step back.
brbaritone Champion Author Virginia Posts:2,145 Points:1,724,100 Joined:Jan 2007	Message Posted: Jul 19, 2012 7:57:21 AM Ignore brbaritone Report Abuse Is any consideration being given to supply glut factors, or weak demand factors?
wrunner Champion Author Virginia Posts:4,582 Points:1,164,060 Joined:Dec 2009	Message Posted: Jul 19, 2012 5:53:28 AM Ignore wrunner Report Abuse Seasonal?! Geopolitical?! Really?! Try politicians, speculators, profiteers, manipulators, environmentalists and consumers too.
djgunrunner Champion Author Salt Lake City Posts:10,252 Points:2,376,305 Joined:Apr 2005	Message Posted: Jul 19, 2012 4:41:45 AM Ignore djgunrunner Report Abuse Big Oil and the speculators strike again.
WalRus49 Champion Author Boston Posts:4,215 Points:896,565 Joined:Nov 2010	Message Posted: Jul 19, 2012 4:35:39 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage...............
hubcapLA Champion Author Louisiana Posts:3,905 Points:940,435 Joined:Apr 2009	Message Posted: Jul 19, 2012 3:17:39 AM Ignore hubcapLA Report Abuse What a crock!
Z51Corvette Champion Author Austin Posts:8,608 Points:1,697,410 Joined:Jan 2008	Message Posted: Jul 19, 2012 3:14:40 AM Ignore Z51Corvette Report Abuse Is someone really SURPRISED!
justmedc Veteran Author Michigan Posts:382 Points:174,495 Joined:Mar 2012	Message Posted: Jul 19, 2012 3:14:12 AM Ignore justmedc Report Abuse suprised?
Z51Corvette Champion Author Austin Posts:8,608 Points:1,697,410 Joined:Jan 2008	Message Posted: Jul 19, 2012 3:14:12 AM Ignore Z51Corvette Report Abuse More speculation... when is this robbery going to END???
Happytalk Champion Author Pennsylvania Posts:2,276 Points:605,565 Joined:May 2010	Message Posted: Jul 19, 2012 3:11:00 AM Ignore Happytalk Report Abuse same old story up
cheapmonkee Champion Author Portland Posts:30,487 Points:3,199,110 Joined:Jun 2004	Message Posted: Jul 19, 2012 3:06:15 AM Ignore cheapmonkee Report Abuse Choke on it butt pirates.
Scoutca All-Star Author Orange County Posts:525 Points:1,604,985 Joined:May 2004	Message Posted: Jul 19, 2012 3:04:13 AM Ignore Scoutca Report Abuse Still the same old stuff ... down 1 to 2 cents every couple of days, when its time to go up its like 4-6 cents a day [sometimes as high as 10-12 cents a day] pretty sad when the greed and speculation people cause the rest of us users to suffer because of their questionable tactics!!!
gamalerin Champion Author Tampa Posts:4,882 Points:1,020,010 Joined:Jul 2010	Message Posted: Jul 19, 2012 2:59:13 AM Ignore gamalerin Report Abuse I will sell my car and quit my job too. Thanks.
Buddy2264 Champion Author Tampa Posts:11,797 Points:2,387,670 Joined:Oct 2005	Message Posted: Jul 19, 2012 2:56:25 AM Ignore Buddy2264 Report Abuse The more we pump in the US and Canada the more we refine and send away. We are net exporters now and that means profits. If we will not buy someone else will and the prices will also be higher for us.
dslxcur Champion Author Seattle Posts:1,986 Points:1,536,210 Joined:Sep 2007	Message Posted: Jul 19, 2012 2:55:07 AM Ignore dslxcur Report Abuse Dang! .................................................... Futures....................................................
gasmack Champion Author Ventura Posts:1,752 Points:679,840 Joined:Feb 2011	Message Posted: Jul 19, 2012 2:52:15 AM Ignore gasmack Report Abuse OK.
Retowered Champion Author Colorado Posts:8,717 Points:2,713,115 Joined:May 2004	Message Posted: Jul 19, 2012 2:42:38 AM Ignore Retowered Report Abuse Here we go again UP & UP.
hamdriver Champion Author Lansing Posts:3,496 Points:1,401,315 Joined:Feb 2008	Message Posted: Jul 19, 2012 2:38:42 AM Ignore hamdriver Report Abuse Yuck
Matt G Champion Author Boston Posts:4,673 Points:2,800,740 Joined:Jun 2004	Message Posted: Jul 19, 2012 2:33:44 AM Ignore Matt G Report Abuse Ok
PetroScopper Champion Author Houston Posts:6,760 Points:1,577,635 Joined:Aug 2008	Message Posted: Jul 19, 2012 2:31:03 AM Ignore PetroScopper Report Abuse I don't believe this will last very long... The current oil and gas prices are still unsustainable for the near future.
chicoCA Champion Author California Posts:2,118 Points:1,802,110 Joined:Nov 2007	Message Posted: Jul 19, 2012 2:23:46 AM Ignore chicoCA Report Abuse okay
gass12 Champion Author Omaha Posts:8,528 Points:2,331,395 Joined:Oct 2005	Message Posted: Jul 19, 2012 2:21:30 AM Ignore gass12 Report Abuse Gas went up here today 12 cents.
nurdco Champion Author Colorado Springs Posts:9,382 Points:1,722,110 Joined:Apr 2008	Message Posted: Jul 19, 2012 2:21:29 AM Ignore nurdco Report Abuse Futures scheme
billey32 Champion Author Oklahoma Posts:1,359 Points:351,210 Joined:May 2011	Message Posted: Jul 19, 2012 2:19:43 AM Ignore billey32 Report Abuse a
Settjec Champion Author Little Rock Posts:2,120 Points:712,445 Joined:May 2010	Message Posted: Jul 19, 2012 2:18:38 AM Ignore Settjec Report Abuse Just think folks.... it use to be where the oil cartel was making aprox. 5 million dollars a day..... now they are making almost 2 billion dollars a day...... tax free..... thanks to I do not know whose POLITICIANS
vulcan96 Champion Author Ohio Posts:27,145 Points:3,126,955 Joined:Aug 2004	Message Posted: Jul 19, 2012 2:18:05 AM Ignore vulcan96 Report Abuse they will soon run out of places to store it all.....
jwalkerh Champion Author Louisiana Posts:6,197 Points:1,377,430 Joined:Oct 2008	Message Posted: Jul 19, 2012 2:16:05 AM Ignore jwalkerh Report Abuse No excuse or any excuse will do...
Suzzoom Champion Author Nevada Posts:2,499 Points:532,750 Joined:Jan 2011	Message Posted: Jul 19, 2012 2:14:15 AM Ignore Suzzoom Report Abuse The never-ending game of Whack-a-Mole...or should I say, Whack-a-Consumer?
tco9436 Champion Author Connecticut Posts:1,807 Points:743,650 Joined:Mar 2010	Message Posted: Jul 19, 2012 2:11:02 AM Ignore tco9436 Report Abuse can someone regulate these a$$Wholes?
comprof Champion Author Houston Posts:7,009 Points:1,384,450 Joined:Jul 2009	Message Posted: Jul 19, 2012 2:08:39 AM Ignore comprof Report Abuse Up and down!
vibdata Champion Author Massachusetts Posts:4,181 Points:866,235 Joined:Nov 2005	Message Posted: Jul 19, 2012 2:07:45 AM Ignore vibdata Report Abuse Gas prices as well as crude have been steadily soaring for the past 2 weeks or more. WHY????? GREED, CORRUPTION, and THE AMERICAN WAY.
Thomtec Champion Author Nashville Posts:2,600 Points:635,395 Joined:May 2011	Message Posted: Jul 19, 2012 2:06:52 AM Ignore Thomtec Report Abuse any excuse is used
bby Champion Author Twin Cities Posts:5,864 Points:1,049,620 Joined:Nov 2009	Message Posted: Jul 19, 2012 2:04:42 AM Ignore bby Report Abuse ok
blk911 Champion Author Colorado Springs Posts:2,928 Points:775,290 Joined:Nov 2004	Message Posted: Jul 19, 2012 2:03:29 AM Ignore blk911 Report Abuse What's New!!
gassy4u Champion Author Mobile Posts:3,763 Points:1,326,360 Joined:Sep 2005	Message Posted: Jul 19, 2012 2:01:57 AM Ignore gassy4u Report Abuse Crap.
lunarrv15 Champion Author Cincinnati Posts:15,063 Points:2,410,085 Joined:Dec 2005	Message Posted: Jul 19, 2012 1:52:54 AM Ignore lunarrv15 Report Abuse okay.. interesting thanks for posting
KrsnaDragon Champion Author Montreal Posts:2,547 Points:559,000 Joined:Nov 2011	Message Posted: Jul 19, 2012 1:47:10 AM Ignore KrsnaDragon Report Abuse Speculation breeds despair.
langolera Champion Author Akron Posts:1,901 Points:693,530 Joined:Sep 2005	Message Posted: Jul 19, 2012 1:45:45 AM Ignore langolera Report Abuse ok
Tundralimited2009 Champion Author Dallas Posts:38,812 Points:1,447,425 Joined:Feb 2009	Message Posted: Jul 19, 2012 1:45:30 AM Ignore Tundralimited2009 Report Abuse Go XOM
firefly09 Champion Author San Diego Posts:2,613 Points:740,105 Joined:Mar 2009	Message Posted: Jul 19, 2012 1:45:24 AM Ignore firefly09 Report Abuse Up and down;round and round.
1WI All-Star Author Appleton Posts:818 Points:274,255 Joined:Jan 2012	Message Posted: Jul 19, 2012 1:43:35 AM Ignore 1WI Report Abuse "Strategery"
Spankster85 Champion Author Chicago Posts:1,859 Points:384,315 Joined:Nov 2011	Message Posted: Jul 19, 2012 1:40:27 AM Ignore Spankster85 Report Abuse Oh boy....
Tomeboy Champion Author Twin Cities Posts:3,910 Points:587,390 Joined:Apr 2009	Message Posted: Jul 19, 2012 1:40:16 AM Ignore Tomeboy Report Abuse There’s too much speculation… and not enough regulation… to keep prices from rising… at my local gas station…
abacus44 Champion Author Toms River Posts:3,605 Points:774,015 Joined:Jan 2011	Message Posted: Jul 19, 2012 1:39:36 AM Ignore abacus44 Report Abuse OK
southrob Champion Author Tucson Posts:3,736 Points:714,900 Joined:Mar 2011	Message Posted: Jul 19, 2012 1:38:13 AM Ignore southrob Report Abuse dhan for lower prices
Rageagainsttm Champion Author Tampa Posts:8,422 Points:1,927,885 Joined:Jul 2007	Message Posted: Jul 19, 2012 1:35:58 AM Ignore Rageagainsttm Report Abuse yep
arb0526 Champion Author Greensboro Posts:2,117 Points:438,320 Joined:Mar 2011	Message Posted: Jul 19, 2012 1:35:37 AM Ignore arb0526 Report Abuse Here we go again. Just in time for school.