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Iran & Isaac: Oil Prices Could Sky-rocket Despite Low Demand

Value Walk -- Inventories of gasoline (and diesel) in the U.S. are at their lowest levels for this time of year since 2008 (partly due to recent refinery fires and the closing of some refineries in the Northeast). Gasoline futures have soared 19% over the past two months as traders seem to be betting that prices of gasoline and diesel will continue to rise. Pump prices typically lag behind the futures market by several weeks.

However, America’s demand for fuel dropped to the lowest July level since 1995, plus the summer driving season is nearing an end, which will lead to even lower gasoline demand.

Furthermore, domestic refiners have significantly ramped up fuel exports. For the first seven months of the year, exports were 14% higher than during the same period in 2011, according to API (American

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Submitted Aug 27, 2012 By: EZExit

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A2J Champion Author Richmond Posts:3,070 Points:601,975 Joined:Aug 2011	Message Posted: Aug 27, 2012 8:35:22 PM Ignore A2J Report Abuse Double Dip Recession or Depression is missing..,
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Aug 27, 2012 8:29:42 PM Ignore Agarre Report Abuse Oh no
deputydog082 Champion Author Detroit Posts:1,786 Points:660,340 Joined:Apr 2011	Message Posted: Aug 27, 2012 7:02:31 AM Ignore deputydog082 Report Abuse recession here we come!
FunMyster All-Star Author Indiana Posts:907 Points:73,215 Joined:Jul 2011	Message Posted: Aug 27, 2012 6:26:08 AM Ignore FunMyster Report Abuse They will find a way to get prices up.
sljbc475 Champion Author Tucson Posts:4,220 Points:872,375 Joined:Dec 2010	Message Posted: Aug 27, 2012 6:11:42 AM Ignore sljbc475 Report Abuse Time for prices to fall again.
bar1035 Champion Author Charlotte Posts:9,158 Points:1,298,220 Joined:Aug 2006	Message Posted: Aug 27, 2012 5:44:27 AM Ignore bar1035 Report Abuse but high prices are not an election issue this year according to the media in BO's pocket
58salty Champion Author Jacksonville Posts:6,614 Points:629,890 Joined:Aug 2011	Message Posted: Aug 27, 2012 5:41:53 AM Ignore 58salty Report Abuse Give me a job as a Speculator, I Speculate the bottom is going to fall out & maybe the price will drop. RIGHT!!!!!!!
Beardog1FL All-Star Author Florida Posts:937 Points:665,815 Joined:Feb 2011	Message Posted: Aug 27, 2012 5:33:28 AM Ignore Beardog1FL Report Abuse Speculators need to go.
turbosaab Champion Author Cleveland Posts:19,009 Points:2,339,220 Joined:Sep 2006	Message Posted: Aug 27, 2012 5:26:01 AM Ignore turbosaab Report Abuse The speculators are licking their chops.
bondo Champion Author Twin Cities Posts:3,511 Points:762,010 Joined:May 2001	Message Posted: Aug 27, 2012 4:46:24 AM Ignore bondo Report Abuse Ok
fightbigoil71 Champion Author Milwaukee Posts:7,562 Points:1,545,655 Joined:Nov 2008	Message Posted: Aug 27, 2012 4:45:14 AM Ignore fightbigoil71 Report Abuse Continued speculation
ReddevilNO Champion Author New Orleans Posts:3,371 Points:581,190 Joined:Aug 2011	Message Posted: Aug 27, 2012 4:43:02 AM Ignore ReddevilNO Report Abuse Ok.
Jeffro61 Champion Author Cleveland Posts:2,272 Points:2,285,570 Joined:Oct 2005	Message Posted: Aug 27, 2012 4:08:51 AM Ignore Jeffro61 Report Abuse They have learned to lower the inventories to scare the market and give the speculators ammunition to hike the price of fuel.
fillerupyeoww Champion Author Columbus Posts:5,879 Points:1,649,440 Joined:Mar 2008	Message Posted: Aug 27, 2012 4:06:02 AM Ignore fillerupyeoww Report Abuse If you pick the right story to read, your pump prices will be less.
SBlouch Champion Author San Antonio Posts:8,730 Points:1,859,265 Joined:Apr 2007	Message Posted: Aug 27, 2012 3:52:45 AM Ignore SBlouch Report Abuse Of course, the prices will be rise because this is another excuse for prices to go up despite low demand.
Tiput Champion Author Ottawa Posts:1,980 Points:461,125 Joined:Jul 2011	Message Posted: Aug 27, 2012 3:52:35 AM Ignore Tiput Report Abuse ok
WVUtailgater Champion Author Cleveland Posts:8,436 Points:1,698,685 Joined:Aug 2008	Message Posted: Aug 27, 2012 3:52:33 AM Ignore WVUtailgater Report Abuse this need to change
lindact Champion Author New Haven Posts:8,736 Points:1,716,970 Joined:May 2008	Message Posted: Aug 27, 2012 3:52:30 AM Ignore lindact Report Abuse And we will drive even less - if that's possible.
mrselfdestruct All-Star Author Arkansas Posts:992 Points:167,400 Joined:Aug 2011	Message Posted: Aug 27, 2012 3:51:13 AM Ignore mrselfdestruct Report Abuse Want to buy it, make them take delivery of it. Futures traders ride the subway to work.
heartbroken2010 Champion Author Ottawa Posts:4,344 Points:897,535 Joined:Aug 2010	Message Posted: Aug 27, 2012 3:51:01 AM Ignore heartbroken2010 Report Abuse supply & demand = fleece the sheep.
hawkman1950 Champion Author Michigan Posts:2,625 Points:540,555 Joined:Aug 2010	Message Posted: Aug 27, 2012 3:49:40 AM Ignore hawkman1950 Report Abuse Its called fockking Wall Street speculators. Who should be shot!!!!
sts808 Veteran Author Honolulu Posts:361 Points:51,890 Joined:Jun 2012	Message Posted: Aug 27, 2012 3:49:14 AM Ignore sts808 Report Abuse ok
95Vette Champion Author Missouri Posts:2,525 Points:632,655 Joined:Sep 2005	Message Posted: Aug 27, 2012 3:48:52 AM Ignore 95Vette Report Abuse speculation
jeff95519 Champion Author California Posts:2,452 Points:1,354,240 Joined:Sep 2008	Message Posted: Aug 27, 2012 3:47:32 AM Ignore jeff95519 Report Abuse will see
SUPERSTEVIEO Champion Author Quebec Posts:3,523 Points:787,115 Joined:Oct 2010	Message Posted: Aug 27, 2012 3:47:26 AM Ignore SUPERSTEVIEO Report Abuse there is no clear basis for any pricing change... and the exportation of gasoline should be held to a minimum... or at least only if local needs are met... arethey selling the ga onexport for more than local markets???
truckpdlr Champion Author Tucson Posts:2,951 Points:1,096,135 Joined:Sep 2009	Message Posted: Aug 27, 2012 3:46:25 AM Ignore truckpdlr Report Abuse Bet not
aburns20 Champion Author Virginia Beach Posts:3,261 Points:674,255 Joined:Dec 2010	Message Posted: Aug 27, 2012 3:45:47 AM Ignore aburns20 Report Abuse I agree with danny999!
danny999 Champion Author Florida Posts:8,723 Points:1,638,310 Joined:Oct 2008	Message Posted: Aug 27, 2012 3:45:00 AM Ignore danny999 Report Abuse You idiot writerd push the prices up by spooking everyone,everytime a refinery gets a splinter .
kobes1 Champion Author Florida Posts:2,492 Points:557,610 Joined:Aug 2011	Message Posted: Aug 27, 2012 3:43:52 AM Ignore kobes1 Report Abuse Greed
Rick52 Champion Author Milwaukee Posts:12,029 Points:1,198,645 Joined:Mar 2005	Message Posted: Aug 27, 2012 3:43:17 AM Ignore Rick52 Report Abuse Here we go again...The excuse they have been waiting for.. Yet the other article says prices should ne going down ??? Hay !!
Piper0072 All-Star Author Rochester Posts:906 Points:380,830 Joined:Jun 2008	Message Posted: Aug 27, 2012 3:41:36 AM Ignore Piper0072 Report Abuse Any excuse to raise oil prices will do.
AvantiMick Champion Author Indiana Posts:12,742 Points:2,542,545 Joined:Dec 2005	Message Posted: Aug 27, 2012 3:41:33 AM Ignore AvantiMick Report Abuse US does NOT buy any Iranian oil, so that should not be an issue here. Isaac is just a bump in the road. The Oil industry is just wanting more money! IF they'd stop gasoline exports, we'd have more gas and lower prices! Time for Congress to outlaw exports!!
vamike Champion Author Virginia Posts:5,325 Points:1,364,950 Joined:Dec 2008	Message Posted: Aug 27, 2012 3:41:00 AM Ignore vamike Report Abuse All issues related to Isaac = Bush's fault.
bustermoves Champion Author Fort Worth Posts:3,470 Points:690,625 Joined:Apr 2010	Message Posted: Aug 27, 2012 3:40:38 AM Ignore bustermoves Report Abuse ok
dura66 Veteran Author Pittsburgh Posts:306 Points:194,105 Joined:Jun 2012	Message Posted: Aug 27, 2012 3:39:51 AM Ignore dura66 Report Abuse Theyll use any excuse to raise fuel prices they were doing it when Bush was in office he gave them the license to steal.
4bobux Champion Author Peoria Posts:1,962 Points:409,230 Joined:Mar 2012	Message Posted: Aug 27, 2012 3:39:49 AM Ignore 4bobux Report Abuse whatever
jcurley Champion Author California Posts:7,900 Points:1,775,185 Joined:Dec 2007	Message Posted: Aug 27, 2012 3:37:55 AM Ignore jcurley Report Abuse wow. thanks to Bush/Cheney/GOP, we don't even have a supply demand curve for oil and gas.
jadeusa Champion Author Dallas Posts:9,331 Points:1,824,015 Joined:Sep 2005	Message Posted: Aug 27, 2012 3:37:28 AM Ignore jadeusa Report Abuse Bigger concern about Iran should be what they do with nuclear capability, not oil prices/production.
FMREALTOR Champion Author Florida Posts:6,405 Points:1,697,005 Joined:Jan 2007	Message Posted: Aug 27, 2012 3:36:21 AM Ignore FMREALTOR Report Abuse Speculation!
LogansGasPrices Champion Author Indiana Posts:1,639 Points:1,039,640 Joined:Sep 2005	Message Posted: Aug 27, 2012 3:35:50 AM Ignore LogansGasPrices Report Abuse I'm sure
epf Champion Author Grand Rapids Posts:6,334 Points:1,891,355 Joined:May 2004	Message Posted: Aug 27, 2012 3:35:36 AM Ignore epf Report Abuse No price bump yet.
Dailyrun Champion Author Kentucky Posts:1,982 Points:388,840 Joined:Apr 2012	Message Posted: Aug 27, 2012 3:35:01 AM Ignore Dailyrun Report Abuse Any excuse will do just fine.
chevellefan Champion Author Georgia Posts:2,728 Points:592,570 Joined:Sep 2011	Message Posted: Aug 27, 2012 3:34:37 AM Ignore chevellefan Report Abuse k
neptune2008 Champion Author Michigan Posts:8,573 Points:1,669,725 Joined:Aug 2008	Message Posted: Aug 27, 2012 3:33:32 AM Ignore neptune2008 Report Abuse well sure...cuz they can
twobroke61 Champion Author Michigan Posts:8,380 Points:1,588,960 Joined:Sep 2008	Message Posted: Aug 27, 2012 3:31:54 AM Ignore twobroke61 Report Abuse anything to raise the price at the pumps
otherdave Champion Author Indiana Posts:3,393 Points:1,268,410 Joined:Oct 2008	Message Posted: Aug 27, 2012 3:31:42 AM Ignore otherdave Report Abuse BOHICA! Bend Over Here It Comes Again!
warlord1 Champion Author Georgia Posts:5,250 Points:1,034,975 Joined:May 2010	Message Posted: Aug 27, 2012 3:31:25 AM Ignore warlord1 Report Abuse ok
LeeFree Champion Author Pittsburgh Posts:9,151 Points:2,243,450 Joined:Jun 2005	Message Posted: Aug 27, 2012 3:31:17 AM Ignore LeeFree Report Abuse So I guess that means we'll continue to pay more than we should for gasoline and diesel.
tman70 Champion Author Georgia Posts:1,760 Points:734,050 Joined:Jul 2007	Message Posted: Aug 27, 2012 3:30:49 AM Ignore tman70 Report Abuse fire these people
abk Champion Author Utah Posts:1,800 Points:656,200 Joined:Jan 2010	Message Posted: Aug 27, 2012 3:27:59 AM Ignore abk Report Abuse Financial analysts are out crunching numbers without looking at the whole story again.