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Oil May Extend Gains as Supply Threats Build: Survey

CNBC -- Benchmark crude oil prices will likely rise this week as global supply threats build and markets price in a positive outcome to Greek debt talks, CNBC's weekly survey showed.

Seven of this week's sample group of eight respondents expect oil prices to climb, while one forecasts prices to remain unchanged.

Compass Global Markets' Peter Turville-Ince has a bullish call on oil this week and expects $120 "very soon in the WTI space" though momentum in Brent crude should "start to slow and should be limited towards $125/$127 for now."

Asian stocks markets rose on Monday reflecting optimism that Greece will seal a deal on a second bailout at a meeting with Euro zone officials later today.

Senior officials from euro zone finance ministries and the European Central Bank held a conference call o


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Submitted Feb 20, 2012 By: jem069
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil May Extend Gains as Supply Threats Build: Survey Back to Topics
REPLIES (newest first) Post a Reply
E-Squirrel
Champion Author Orange County

Posts:3,518
Points:1,020,595
Joined:Feb 2005
Message Posted: Feb 27, 2012 3:33:46 PM

duffee01 complains:

'Nothing has changed with the exception that the oil speculators have been ordered to start their usual game of running the price up. Screw the American taxpayer and consumer is what they are doing. I just can't see how Congress can't do a little bit of investigation on price gouging, earn your keep!!'

Who do you think 'orders' speculators to drive the price up? This sort of thing would be more easily understood, if you read a basic economic text book. For starters, Supply and demand controls the price. Speculators contribute neither to supply, nor demand, being neither producers nor consumers.

[Edited by: E-Squirrel at 2/27/2012 3:34:10 PM EST]
honda0105
Champion Author Tallahassee

Posts:24,069
Points:2,390,890
Joined:Nov 2008
Message Posted: Feb 23, 2012 5:58:05 AM

no surprise. Pig Oil and cousins takes any excuse to keep prices down.
tomok
Champion Author Portland

Posts:46,293
Points:3,126,535
Joined:Aug 2006
Message Posted: Feb 21, 2012 3:12:00 AM

Restrict fuel supply, Charge higher fuel prices at the pump with manufactured shortages.
Whatever the size or shape the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using ‘other’ forms of transportation or car pool to lower your cost for transportation.
The price of fuel at the pump is too high!
12/22/2012!
ammamama13
Sophomore Author California

Posts:101
Points:113,485
Joined:May 2011
Message Posted: Feb 21, 2012 12:29:03 AM

just another reason to raise gas prices....
ravenclaw_29
Rookie Author Oakland

Posts:53
Points:11,535
Joined:Jan 2012
Message Posted: Feb 20, 2012 11:53:49 PM

OK
abacus44
Champion Author Toms River

Posts:6,545
Points:1,516,105
Joined:Jan 2011
Message Posted: Feb 20, 2012 11:53:00 PM

Reality sucks.
carman11
Champion Author North Carolina

Posts:6,709
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Joined:Jun 2011
Message Posted: Feb 20, 2012 11:49:12 PM

OK
bonzoonfmb
Champion Author Florida

Posts:2,540
Points:888,110
Joined:Feb 2010
Message Posted: Feb 20, 2012 11:49:00 PM

Speculators.
Rt118E
Champion Author Pennsylvania

Posts:13,394
Points:2,148,240
Joined:Jun 2009
Message Posted: Feb 20, 2012 11:48:59 PM

This is going to really hurt people like me
tidalwave3
Champion Author Tallahassee

Posts:2,778
Points:2,188,455
Joined:Jun 2008
Message Posted: Feb 20, 2012 11:46:30 PM

So much speculation and total lack of faith. GREED :]
Dodge_Me
Champion Author Atlanta

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Joined:Mar 2006
Message Posted: Feb 20, 2012 11:45:32 PM

That sucks
MidNJ
Champion Author New Jersey

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Points:1,881,545
Joined:Sep 2009
Message Posted: Feb 20, 2012 11:42:27 PM

Un-be-leave-able!!

And there is more!!!
Akcamper
Veteran Author Tucson

Posts:274
Points:30,555
Joined:Dec 2011
Message Posted: Feb 20, 2012 11:42:16 PM

screwed again!
bif65
Champion Author Virginia

Posts:1,423
Points:340,525
Joined:Jan 2011
Message Posted: Feb 20, 2012 11:39:51 PM

ok
PoohMcGoo
Champion Author Alabama

Posts:3,895
Points:1,447,745
Joined:Dec 2010
Message Posted: Feb 20, 2012 11:33:34 PM

Damn speculators jumping in now..
OGW
Champion Author London

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Joined:Sep 2005
Message Posted: Feb 20, 2012 11:32:56 PM

American business interests play the shortage card so they can charge more. The problem with oil prices in the world is all caused by US business interests whether Wall Stree or Big Oil or those opposing oil to screw everyone with some other form of energy. it is all about taking our money from us.
sit
Champion Author Cleveland

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Joined:Feb 2006
Message Posted: Feb 20, 2012 11:27:59 PM

OK
mstearno
Champion Author Dayton

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Points:2,358,560
Joined:Jan 2008
Message Posted: Feb 20, 2012 11:27:47 PM

this is bad news
but may be the news we need for change
suzmar
Champion Author Texas

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Points:1,446,515
Joined:Jun 2006
Message Posted: Feb 20, 2012 11:25:29 PM

This will be very bad news for the economy.
KhelbenArunson
Champion Author Michigan

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Points:1,473,310
Joined:Apr 2008
Message Posted: Feb 20, 2012 11:25:24 PM

Just another reason we need to switch to an alternative fuel.
skyking19
Champion Author Little Rock

Posts:2,733
Points:2,204,735
Joined:Jan 2007
Message Posted: Feb 20, 2012 11:24:43 PM

Not a good sign ahead.
majorfall
Champion Author New York

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Joined:May 2004
Message Posted: Feb 20, 2012 11:22:23 PM

soon the economy will collapse again due to oil prices just like many times before
my2002m
Champion Author Tulsa

Posts:9,199
Points:2,442,290
Joined:Jul 2008
Message Posted: Feb 20, 2012 11:19:44 PM

And prices keep jumping higher at the pumps.
pse91
All-Star Author Calgary

Posts:641
Points:1,167,745
Joined:May 2011
Message Posted: Feb 20, 2012 11:18:12 PM

Preach gloom and the Futures Boy's and the Oil Companies will create huge profits in the near future.
mazda03
Veteran Author Quebec City

Posts:351
Points:1,739,305
Joined:Nov 2006
Message Posted: Feb 20, 2012 11:18:09 PM

hmmmm
danol43
Champion Author Modesto

Posts:2,843
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Joined:May 2011
Message Posted: Feb 20, 2012 11:12:03 PM

Oh really...
toadNY
Champion Author Albany

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Message Posted: Feb 20, 2012 11:09:48 PM

$5.00 a gallon gas coming to a station near you! An sooner than you think!
blazerbob91
Champion Author Milwaukee

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Joined:Aug 2005
Message Posted: Feb 20, 2012 11:08:35 PM

This is just the begining.
crowefamily1
All-Star Author Texas

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Points:297,100
Joined:Sep 2006
Message Posted: Feb 20, 2012 11:08:03 PM

let them Euro zone each other to death I prefer the us dollar.
abcdMA
Champion Author Worcester

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Message Posted: Feb 20, 2012 11:03:38 PM

hyper inflation is on its way
us4usa
Champion Author Missouri

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Joined:May 2008
Message Posted: Feb 20, 2012 11:00:40 PM

Turn out the lights the party is over...
onegiraffeAL
Champion Author Alabama

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Joined:Jan 2010
Message Posted: Feb 20, 2012 10:58:27 PM

ok
granitestater
Champion Author New Hampshire

Posts:12,870
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Joined:Oct 2008
Message Posted: Feb 20, 2012 10:55:57 PM

China will buy the surplus...
mcmonsta
Champion Author Honolulu

Posts:6,193
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Joined:Sep 2009
Message Posted: Feb 20, 2012 10:54:15 PM

cut the bs with iran..what else will work? diplomacy works when we can talk & discuss
kcboy
Champion Author Utah

Posts:6,269
Points:2,065,995
Joined:Jun 2005
Message Posted: Feb 20, 2012 10:46:01 PM

Maybe I'll get some oil stocks. Prices gone up 6 cents again.
eye-spy
Champion Author Quebec

Posts:7,829
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Joined:Feb 2005
Message Posted: Feb 20, 2012 10:45:41 PM

Until there are regulations implemented on commodity trading, gasoline will continue to rise, thanks to our beloved speculators.
pickledude72
Champion Author California

Posts:1,123
Points:846,955
Joined:Jul 2008
Message Posted: Feb 20, 2012 10:40:38 PM

Too bad we can't invest in "Senator Lobbying"
fuelsaverMN
Champion Author Twin Cities

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Points:559,080
Joined:Mar 2011
Message Posted: Feb 20, 2012 10:38:44 PM

Put your money in oil stocks!!!!
fuelsaverMN
Champion Author Twin Cities

Posts:2,282
Points:559,080
Joined:Mar 2011
Message Posted: Feb 20, 2012 10:38:11 PM

"Just to pay more for gas"
Bubba44612
Champion Author Ohio

Posts:10,566
Points:2,649,775
Joined:Aug 2005
Message Posted: Feb 20, 2012 10:36:04 PM

What would you expect the speculators to say. They are telling you gas will be $5 a gal by summer. They need to get the prices climbing quickly and soon for that to happen.
tippybuddy
Champion Author Ontario

Posts:1,523
Points:207,740
Joined:Feb 2011
Message Posted: Feb 20, 2012 10:31:15 PM

I agree with sillywagon
cmsense
Champion Author Columbus

Posts:1,358
Points:165,345
Joined:Jan 2012
Message Posted: Feb 20, 2012 10:28:38 PM

No,they're in BIG OIL'S POCKET!!!!!!
sillywagon
Champion Author New York

Posts:20,722
Points:2,221,145
Joined:Oct 2008
Message Posted: Feb 20, 2012 10:26:32 PM

This is ridiculous, and it hurts... not just Americans but worldwide. When will WashingtonDC take this issue seriously and do some limited regulation on commodity speculation? Are they that clueless?
nvwarped
Champion Author Corpus Christi

Posts:3,773
Points:1,211,450
Joined:Sep 2011
Message Posted: Feb 20, 2012 10:26:26 PM

ok
Blue48
Champion Author Illinois

Posts:10,576
Points:2,418,520
Joined:Feb 2007
Message Posted: Feb 20, 2012 10:23:58 PM

UP..DOWN..UP..DOWN!
bevmill
Champion Author Georgia

Posts:5,606
Points:1,365,140
Joined:Apr 2006
Message Posted: Feb 20, 2012 10:23:23 PM

ok
byoftDad
Champion Author Columbus

Posts:4,452
Points:1,233,375
Joined:Apr 2005
Message Posted: Feb 20, 2012 10:22:52 PM

speculation I am sure.
Caribou2011
Champion Author Ohio

Posts:6,692
Points:1,496,785
Joined:Feb 2011
Message Posted: Feb 20, 2012 10:22:33 PM

Ok
Wisegold
Rookie Author Kansas City

Posts:68
Points:346,235
Joined:Feb 2012
Message Posted: Feb 20, 2012 10:21:47 PM

Higher can be better, someone might actually rise up and lead.
danreino
Champion Author Twin Cities

Posts:9,828
Points:1,838,480
Joined:Mar 2008
Message Posted: Feb 20, 2012 10:20:47 PM

Gas freakin skyrocketed here today up to $3.55 for regular 87 octane !!!!!
cmsense
Champion Author Columbus

Posts:1,358
Points:165,345
Joined:Jan 2012
Message Posted: Feb 20, 2012 10:20:35 PM

Can you say SPECULATORS and OIL FUTURES? I knew you could.
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