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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:18,811 Points:1,635,270 Joined:Nov 2008	Message Posted: Jun 24, 2012 6:52:40 AM Ignore honda0105 Report Abuse low crude prices mean also low overall global economic growth.
sparky808 Champion Author Honolulu Posts:3,134 Points:623,710 Joined:Sep 2011	Message Posted: Jun 22, 2012 11:37:47 AM Ignore sparky808 Report Abuse Thank you for posting.
Ahking Champion Author Orange County Posts:3,599 Points:621,360 Joined:May 2011	Message Posted: Jun 21, 2012 10:11:41 PM Ignore Ahking Report Abuse good
Dodge_Me Champion Author Atlanta Posts:2,214 Points:575,730 Joined:Mar 2006	Message Posted: Jun 21, 2012 10:03:01 PM Ignore Dodge_Me Report Abuse Keep going down!
aggietim Champion Author Fort Worth Posts:1,821 Points:715,250 Joined:Oct 2008	Message Posted: Jun 21, 2012 10:02:50 PM Ignore aggietim Report Abuse good
mrbee Champion Author Little Rock Posts:3,888 Points:2,492,335 Joined:Oct 2005	Message Posted: Jun 21, 2012 9:59:20 PM Ignore mrbee Report Abuse About time
dabbadu Champion Author New York Posts:1,056 Points:680,505 Joined:Feb 2011	Message Posted: Jun 21, 2012 9:58:07 PM Ignore dabbadu Report Abuse Great!
Hangnail309 Champion Author Manitoba Posts:6,153 Points:1,702,910 Joined:Aug 2006	Message Posted: Jun 21, 2012 9:57:55 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 9:56:57 PM Ignore jessek Report Abuse OK by me.
menagerie1013 Champion Author San Diego Posts:2,365 Points:710,440 Joined:Apr 2011	Message Posted: Jun 21, 2012 9:56:19 PM Ignore menagerie1013 Report Abuse I'm not gonna complain about lower gas prices.
G.Lee Champion Author Colorado Springs Posts:22,900 Points:3,439,950 Joined:Sep 2003	Message Posted: Jun 21, 2012 9:54:13 PM Ignore G.Lee Report Abuse Ok
Bezalel Champion Author Oklahoma City Posts:12,228 Points:2,316,485 Joined:Oct 2006	Message Posted: Jun 21, 2012 9:54:11 PM Ignore Bezalel Report Abuse "...gasoline demand fell sharply. " Not at the pump.
craigrm Champion Author Connecticut Posts:1,795 Points:601,730 Joined:Mar 2008	Message Posted: Jun 21, 2012 9:48:18 PM Ignore craigrm Report Abuse Nobama.
Spankster85 Champion Author Chicago Posts:1,849 Points:382,365 Joined:Nov 2011	Message Posted: Jun 21, 2012 9:45:13 PM Ignore Spankster85 Report Abuse Keep falling.
69Bonne Champion Author Gary Posts:1,251 Points:492,300 Joined:Sep 2005	Message Posted: Jun 21, 2012 9:43:45 PM Ignore 69Bonne Report Abuse Good.
DrLyon Champion Author Michigan Posts:6,759 Points:1,237,415 Joined:May 2006	Message Posted: Jun 21, 2012 9:42:57 PM Ignore DrLyon Report Abuse Keep loosing...
Yankee829 Champion Author Dallas Posts:2,339 Points:585,340 Joined:Sep 2010	Message Posted: Jun 21, 2012 9:41:20 PM Ignore Yankee829 Report Abuse Ok
DustyHorse Champion Author Virginia Posts:6,214 Points:1,415,830 Joined:Oct 2008	Message Posted: Jun 21, 2012 9:38:54 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:8,934 Points:1,869,200 Joined:Aug 2005	Message Posted: Jun 21, 2012 9:36:23 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 9:35:00 PM Ignore yayap17 Report Abuse I hope they keep falling
PizzaMon Champion Author Philadelphia Posts:5,134 Points:1,884,705 Joined:Jun 2006	Message Posted: Jun 21, 2012 9:28:25 PM Ignore PizzaMon Report Abuse Bet some speculators are crying for a change.
Zonk Champion Author Michigan Posts:6,616 Points:2,128,740 Joined:Oct 2005	Message Posted: Jun 21, 2012 9:26:45 PM Ignore Zonk Report Abuse Let's hope this trend continues.
nru Champion Author Twin Cities Posts:1,939 Points:1,008,905 Joined:Feb 2006	Message Posted: Jun 21, 2012 9:22:35 PM Ignore nru Report Abuse let's hope prices go below $30/barrel - drop like a rock
blah2blah3 Champion Author Houston Posts:2,736 Points:626,620 Joined:May 2011	Message Posted: Jun 21, 2012 9:22:27 PM Ignore blah2blah3 Report Abuse ok
jpj23 Champion Author Los Angeles Posts:5,801 Points:1,116,900 Joined:Jul 2008	Message Posted: Jun 21, 2012 9:21:30 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:2,021 Points:1,721,740 Joined:Jan 2007	Message Posted: Jun 21, 2012 9:18:28 PM Ignore skyking19 Report Abuse Come on down!
DABEE1073 Champion Author San Diego Posts:8,345 Points:1,598,835 Joined:Jun 2008	Message Posted: Jun 21, 2012 9:16:07 PM Ignore DABEE1073 Report Abuse LET CRUDE OIL FALL TO $25 A BARREL. A MORE REALISTIC PRICE.
carpenter4u Champion Author Virginia Posts:2,476 Points:637,270 Joined:Jul 2011	Message Posted: Jun 21, 2012 9:07:20 PM Ignore carpenter4u Report Abuse glad I don't own oil futures at this time
OGW Champion Author London Posts:5,436 Points:1,556,195 Joined:Sep 2005	Message Posted: Jun 21, 2012 9:04:03 PM Ignore OGW Report Abuse High inventories and low prices sound good to me.
Mowerman08 Champion Author Milwaukee Posts:4,873 Points:1,242,280 Joined:Aug 2008	Message Posted: Jun 21, 2012 8:57:50 PM Ignore Mowerman08 Report Abuse $35 would be a good goal!
FuelOilOH Champion Author Cleveland Posts:2,842 Points:1,184,595 Joined:Oct 2007	Message Posted: Jun 21, 2012 8:55:25 PM Ignore FuelOilOH Report Abuse Time to get more gas cans.
judgemobile Champion Author Ohio Posts:7,695 Points:2,470,685 Joined:Nov 2005	Message Posted: Jun 21, 2012 8:55:01 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:198,765 Joined:Mar 2012	Message Posted: Jun 21, 2012 8:54:31 PM Ignore isis1812 Report Abuse Ok
txkrb Champion Author Texas Posts:1,595 Points:659,730 Joined:May 2011	Message Posted: Jun 21, 2012 8:48:44 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:1,112 Points:1,797,450 Joined:Mar 2004	Message Posted: Jun 21, 2012 8:47:32 PM Ignore 24541 Report Abuse Good deasl
grn7stars Rookie Author Washington Posts:36 Points:181,925 Joined:Jun 2012	Message Posted: Jun 21, 2012 8:45:42 PM Ignore grn7stars Report Abuse ok
kishoreCA Champion Author Ventura Posts:3,291 Points:418,645 Joined:Mar 2012	Message Posted: Jun 21, 2012 8:45:27 PM Ignore kishoreCA Report Abuse good
Piniewoods All-Star Author Jacksonville Posts:892 Points:466,240 Joined:Aug 2005	Message Posted: Jun 21, 2012 8:43:54 PM Ignore Piniewoods Report Abuse Fall baby fall!
drz614 Champion Author Harrisburg Posts:2,434 Points:624,345 Joined:Aug 2011	Message Posted: Jun 21, 2012 8:43:40 PM Ignore drz614 Report Abuse today it ended below 80. didn't c any drop at the pump.
carman11 Champion Author North Carolina Posts:3,474 Points:718,450 Joined:Jun 2011	Message Posted: Jun 21, 2012 8:41:16 PM Ignore carman11 Report Abuse ok
rampower80 Champion Author Kentucky Posts:2,164 Points:487,215 Joined:Jan 2012	Message Posted: Jun 21, 2012 8:34:18 PM Ignore rampower80 Report Abuse Good news!
Is246 Champion Author Albuquerque Posts:1,043 Points:442,640 Joined:Apr 2011	Message Posted: Jun 21, 2012 8:31:50 PM Ignore Is246 Report Abuse The lower the better.
DTrainCanada Champion Author Saskatoon Posts:1,848 Points:1,443,850 Joined:Aug 2005	Message Posted: Jun 21, 2012 8:29:00 PM Ignore DTrainCanada Report Abuse $80/barrel is about right ...
ByGuy Champion Author Dallas Posts:7,971 Points:1,733,000 Joined:Nov 2005	Message Posted: Jun 21, 2012 8:25:59 PM Ignore ByGuy Report Abuse It is finally going in right direction.
feistyfella All-Star Author Detroit Posts:921 Points:212,145 Joined:Jun 2010	Message Posted: Jun 21, 2012 8:24:54 PM Ignore feistyfella Report Abuse ICE
fenster66 Champion Author Pittsburgh Posts:3,480 Points:699,840 Joined:May 2011	Message Posted: Jun 21, 2012 8:24:13 PM Ignore fenster66 Report Abuse keep it down, now...
RUNNINONEMPTYFL Champion Author Florida Posts:1,408 Points:461,800 Joined:May 2011	Message Posted: Jun 21, 2012 8:21:48 PM Ignore RUNNINONEMPTYFL Report Abuse Here we go again...
ericbcire Champion Author Nevada Posts:4,655 Points:1,293,460 Joined:Aug 2009	Message Posted: Jun 21, 2012 8:18:39 PM Ignore ericbcire Report Abuse Prices must drop further or the economy will worsen.
IUVidiot Champion Author Indiana Posts:3,720 Points:735,085 Joined:Jun 2011	Message Posted: Jun 21, 2012 8:16:08 PM Ignore IUVidiot Report Abuse ok
bbreff Champion Author Atlanta Posts:9,978 Points:2,594,165 Joined:Jun 2005	Message Posted: Jun 21, 2012 8:14:50 PM Ignore bbreff Report Abuse OK