Crude oil continues to rise.

• Mr. 300

  

  Why is Obama filling the pockets of Big Oil???
  
  
  http://www.wtrg.com/daily/crudeoilprice.html
  

  Oil and gasoline prices barely budged Tuesday, as traders took a break from a recent rally driven by signs of an improving economy.
  
  Benchmark crude for May delivery rose 22 cents to settle at $86.84 a barrel on the New York Mercantile Exchange. Earlier prices touched a new 18-month high of $87.09 a barrel. Oil prices have climbed 24 percent since February.
  
  Crude traded between $69 and $84 for about nine months before breaking above that range last week. On Monday, reports showed improvements in services businesses and in the housing market.

  http://finance.yahoo.com/news/Oil-prices-settle-a-little-apf-4112335196.html?x=0&sec=topStories&pos=7&asset=&ccode=
• tk421

  

  If it was Bush's fault when he was President, it must be Obama's fault now.
• IggyPride00

  

  Nice to see supply and demand fundamentals being reflected in in market prices like this. :rolleyes:
• Mr. 300

  

  tk421 wrote: If it was Bush's fault when he was President, it must be Obama's fault now.

  +1
• WebFire

  IggyPride00 wrote: Nice to see supply and demand fundamentals being reflected in in market prices like this. :rolleyes:

  Let's see the numbers.
• ptown_trojans_1

  

  tk421 wrote: If it was Bush's fault when he was President, it must be Obama's fault now.

  Hey, at least it is consistent.
  
  Just like the people were wrong linking it to Bush, people are wrong linking it to Obama. There are more factors, such as foreign supply and demand, that matter.
• tk421

  

  I'm not buying supply and demand anymore. The price is being artificially driven up. Demand is down and supply is up, yet prices still rise.
• David St. Hubbins

  

  Oil also rises along with gold when the dollar loses value since it is a good hedge against inflation.
• LJ

  

  David St. Hubbins wrote: Oil also rises along with gold when the dollar loses value since it is a good hedge against inflation.

  Oil is also priced globally in USD and the price is global, so the US supply and demand is only a part of the equation.
• Cleveland Buck

  

  Get used to it. The dollar is going to take a big shit here soon.
• IggyPride00

  

  I was being sarcastic in my first post. Supply and Demand have very little to do with the price of oil anymore, and you can guarandamtee that whatever financial regulation reform will keep it that way.
  
  The dollar can't even be blamed for the recent run-up, because it has actually been quite strong recently because of the Euro's problems.
• Glory Days

  

  tk421 wrote: I'm not buying supply and demand anymore. The price is being artificially driven up. Demand is down and supply is up, yet prices still rise.

  now i dont know the numbers, but its getting close to summer, demand should be up.
• Footwedge

  IggyPride00 wrote: . Supply and Demand have very little to do with the price of oil anymore,
  

  Agreed. It has a lot more to do (price of oil) with what the conglomerate speculators want to do. Just another ballon to inflate.
• believer

  

  ^^^We agree on something. While world wide demand is down, oil prices are being driven up artificially by speculators in anticipation of economic rebound. The problem is by driving up the cost of oil in a down economy I have to believe that this will have the effect of sustaining an already weak economy.
  
  Sooner or later oil prices will have to stabilize or drop to stimulate more demand.