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GasBuddy News Article


Oil price jumps above $119 a barrel
Thursday, August 21, 2008
CNN International -- NEW YORK (AP) -- Oil prices jumped above $119 Thursday as rising antagonism with Russia underscored the possibility it could affect energy shipments from the world's second-largest oil producer.

The weakening U.S. dollar, a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September all helped push prices higher.

By the afternoon in Europe, light, sweet crude for October delivery was up $3.84 at $119.40 a barrel on the New York Mercantile Exchange. The contract rose $1.01 overnight to settle at $115.56 a barrel.


Visit CNN International for full article

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JT
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Message Posted: 8/21/2008 11:19:51 AM  Ignore JT Report Abuse
Thursday, August 21, 2008
CNN International -- NEW YORK (AP) -- Oil prices jumped above $119 Thursday as rising antagonism with Russia underscored the possibility it could affect energy shipments from the world's second-largest oil producer.

The weakening U.S. dollar, a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September all helped push prices higher.

By the afternoon in Europe, light, sweet crude for October delivery was up $3.84 at $119.40 a barrel on the New York Mercantile Exchange. The contract rose $1.01 overnight to settle at $115.56 a barrel.

Visit CNN International for full article
REPLIES (newest first)
no1doc
Champion Author
Milwaukee

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Message Posted: 8/22/2008 11:54:53 AM  Ignore no1doc Report Abuse
Well today the price has already dropped $3
USAFA82
Champion Author
Colorado Springs

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Message Posted: 8/22/2008 11:20:58 AM  Ignore USAFA82 Report Abuse
We need to drill our own oil and eventually get off of it altogether.
AlaRedNeck
Champion Author
Kansas

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Message Posted: 8/22/2008 11:19:23 AM  Ignore AlaRedNeck Report Abuse
Gas prices dropped another $.02 here yesterday, but with this continuing it will start back up.
gashog4x4
Rookie Author
Arizona

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Message Posted: 8/22/2008 11:19:05 AM  Ignore gashog4x4 Report Abuse
With the news about the possible conflict between Iran and Kuwait, huh, you ain't seen nothin' yet baby.

Lets hope for peace in the middle east, make a parking lot out of it! After that, the oil's free!!
mooneagle
All-Star Author
Oklahoma City

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Message Posted: 8/22/2008 11:14:32 AM  Ignore mooneagle Report Abuse
ride the roller coaster
plumb37
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Quebec

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Message Posted: 8/22/2008 11:10:12 AM  Ignore plumb37 Report Abuse
Grow, grow here, grow now!
NavyEOD
Champion Author
Los Angeles

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Message Posted: 8/22/2008 11:09:56 AM  Ignore NavyEOD Report Abuse
Stop speculating.
niceguytx
Champion Author
Houston

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Message Posted: 8/22/2008 11:09:45 AM  Ignore niceguytx Report Abuse
So are prices going up or down? I am afraid we may see higher prices next.
gasman50
Champion Author
Portland

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Message Posted: 8/22/2008 11:08:55 AM  Ignore gasman50 Report Abuse
Drill, drill here, drill now!
LaCajunDJ
Veteran Author
Louisiana

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Message Posted: 8/22/2008 11:08:44 AM  Ignore LaCajunDJ Report Abuse
Old news!!!
plumb37
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Quebec

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Message Posted: 8/22/2008 11:07:29 AM  Ignore plumb37 Report Abuse
Ha, you lower mileage and they will lower supply.
plumb37
Champion Author
Quebec

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Message Posted: 8/22/2008 11:06:00 AM  Ignore plumb37 Report Abuse
No, the answer is, Grow here ... Grow now
flatcoatfun
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Orlando

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Message Posted: 8/22/2008 11:04:58 AM  Ignore flatcoatfun Report Abuse
No kidding they want to keep prices higher - the market is being manipulated. Keep conserving and driving less and drive those prices lower!
Kthyme
Champion Author
Fort Worth

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Message Posted: 8/22/2008 11:03:21 AM  Ignore Kthyme Report Abuse
And the answer is: Drill Here...Drill Now!!!

;)
metronj
Veteran Author
New Jersey

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Message Posted: 8/22/2008 10:59:54 AM  Ignore metronj Report Abuse
Go hybrid
plumb37
Champion Author
Quebec

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Message Posted: 8/22/2008 10:59:48 AM  Ignore plumb37 Report Abuse
Wasn't that a party?
aalix
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Orange County

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Message Posted: 8/22/2008 10:58:10 AM  Ignore aalix Report Abuse
Ooops, is the party over?
CheapoBob
Champion Author
Alabama

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Message Posted: 8/22/2008 10:54:39 AM  Ignore CheapoBob Report Abuse
wrong way
plumb37
Champion Author
Quebec

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Joined:Jun 2008
Message Posted: 8/22/2008 10:53:39 AM  Ignore plumb37 Report Abuse
Its up, its down. This is ridiculus. High or low, set a price and leave it there. Damn Aaarabs.
DarthDadJr
All-Star Author
Virginia

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Message Posted: 8/22/2008 10:52:00 AM  Ignore DarthDadJr Report Abuse
Just a temporary speculation bubble around the crap going on with Russia and Georgia...the trend is still down.
NissanGirl
Veteran Author
Oregon

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Message Posted: 8/22/2008 10:49:59 AM  Ignore NissanGirl Report Abuse
What a shame. I was hoping that the prices would continue to fall.
greywolves
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Las Vegas

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Message Posted: 8/22/2008 10:47:58 AM  Ignore greywolves Report Abuse
the trend is down, as the speculative bubble deflates
slarttybartfast
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Hamilton

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Message Posted: 8/22/2008 10:46:44 AM  Ignore slarttybartfast Report Abuse
I hope they don't go to war over oil again eh mr bush?
Gerund1
Champion Author
Toronto

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Message Posted: 8/22/2008 10:43:54 AM  Ignore Gerund1 Report Abuse
First its up, then its down and where it stops, nobody knows. Dive, dive I say.
gasngogoGA
Sophomore Author
Atlanta

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Message Posted: 8/22/2008 10:42:09 AM  Ignore gasngogoGA Report Abuse
Did somebody say oil was up?
oncotime
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Milwaukee

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Message Posted: 8/22/2008 10:41:52 AM  Ignore oncotime Report Abuse
like a day at Six Flags!!
dodge_rt
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Regina

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Message Posted: 8/22/2008 10:40:12 AM  Ignore dodge_rt Report Abuse
what else is new?
irish15pilot
All-Star Author
Charleston

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Message Posted: 8/22/2008 10:39:53 AM  Ignore irish15pilot Report Abuse
At Speedway today, the price went from $3.75 to $3.85 at 10:00 am.
ramshot412
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Riverside

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Message Posted: 8/22/2008 10:38:49 AM  Ignore ramshot412 Report Abuse
We pay good money to get the rest of the world to do what we say.... Why don't they listen when we tell them to do things they don't want to?
copperhead8
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Boston

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Message Posted: 8/22/2008 10:36:36 AM  Ignore copperhead8 Report Abuse
Don't go up again.
throttle
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Maryland

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Message Posted: 8/22/2008 10:33:36 AM  Ignore throttle Report Abuse
Uh oh.
esquared
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Oklahoma City

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Message Posted: 8/22/2008 10:30:26 AM  Ignore esquared Report Abuse
Gasoline prices followed suit this morning!
RC_RACER
Champion Author
Tacoma

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Message Posted: 8/22/2008 10:26:51 AM  Ignore RC_RACER Report Abuse
the last three days here the retail prices have went down2-4 cents a day.
SLAPSHOT351
Veteran Author
Long Island

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Message Posted: 8/22/2008 10:26:18 AM  Ignore SLAPSHOT351 Report Abuse
Some stations up as much as 10 cents this morning.
eaglev
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Oklahoma City

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Message Posted: 8/22/2008 10:24:34 AM  Ignore eaglev Report Abuse
Our gas prices are going up today.
jadeusa
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Dallas

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Message Posted: 8/22/2008 10:24:00 AM  Ignore jadeusa Report Abuse
Wonder if the downturn will take back over after the middle of September when driving should really turn down in US. Also reading where China has dropped their consumption numbers on a downward trend. OPEC may cut production, but consumption falls may continue to pull price down. Futures numbers by speculators can last only so long, then they will make money on shorting. Should be around $70 -$80 Bbl. per a number of studies by Petro experts.
Pseudorious
All-Star Author
Philadelphia

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Message Posted: 8/22/2008 10:24:00 AM  Ignore Pseudorious Report Abuse
Noticed.
TCOR78
Rookie Author
Ohio

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Message Posted: 8/22/2008 10:21:07 AM  Ignore TCOR78 Report Abuse
AS OF 10:14 EST OIL IS AT $119.29 PER BARREL.

THIS IS DUE TO THE SITUATION IN RUSSIA. WE HAVE TO STOP RELYING ON OTHERS FOR OUR OIL.

PELOSI AND DINGY HARRY AND THE REST OF THE CONGRESS NEED TO GET OFF THEIR BEHINDS AND GET A BILL PASSED TO START DRILLING NOW!!!!!!!!!!!!!!!!!!

I'M TIRED OF CONGRESS PLAYING POLITICS WITH OUR MONEY!!!!!!!!!!!!!

REMEMBER GOVERNMENT BY THE PEOPLE FOR THE PEOPLE???????????????
Gassie1
Champion Author
Akron

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Message Posted: 8/22/2008 10:20:32 AM  Ignore Gassie1 Report Abuse
Wrong direction
bluebird1
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Toronto

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Message Posted: 8/22/2008 10:19:42 AM  Ignore bluebird1 Report Abuse
Must be nice tabasco, I paid $5.75/gal. Cdn yesterday & it's now $5.80/gal.
tobasco
Champion Author
Los Angeles

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Message Posted: 8/22/2008 10:17:58 AM  Ignore tobasco Report Abuse
Paid $3.85 yesterday....Woooohoooo!
The_WB
Champion Author
Detroit

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Message Posted: 8/22/2008 10:17:56 AM  Ignore The_WB Report Abuse
Over $120/bbl now.
ScottE
Champion Author
Los Angeles

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Message Posted: 8/22/2008 10:17:35 AM  Ignore ScottE Report Abuse
this is extremly not good...This russia RUSE is tense with us is some B.S.
the ruskies need intl sanctions for there blatant attack staged for the opening of usually neutral - truce time Olympics... C'mon America Sprinter, learn to pass the stinkin baton.
Chazzer
Champion Author
Nevada

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Message Posted: 8/22/2008 10:16:34 AM  Ignore Chazzer Report Abuse
Here we go on a rocket ride ... again!
Don20
Champion Author
Oklahoma City

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Message Posted: 8/22/2008 10:14:17 AM  Ignore Don20 Report Abuse
Any excuse will do, how about Holiday comeing up...
maindrag
All-Star Author
Ontario

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Message Posted: 8/22/2008 10:13:37 AM  Ignore maindrag Report Abuse
any excuse will do. we need to cater just to our private gas stations, own by the little guy. If we do this, it will bring prices down. in sarnia it is privately owned. a little farther drive, but worth the cause. u will see the results if u do this and the price is the cheapest.
lucky69
All-Star Author
Austin

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Message Posted: 8/22/2008 10:08:13 AM  Ignore lucky69 Report Abuse
That's not good to hear.
evasilion
All-Star Author
Virginia Beach

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Message Posted: 8/22/2008 10:05:16 AM  Ignore evasilion Report Abuse
OPEC?
Blackice
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Twin Cities

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Message Posted: 8/22/2008 10:02:15 AM  Ignore Blackice Report Abuse
If the price of gas jumped up yesterday or day at the pump...its because the weekend is almost here.

You all so know this by now.
tbybee
Veteran Author
Omaha

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Message Posted: 8/22/2008 9:59:37 AM  Ignore tbybee Report Abuse
Prices jumped 20 cents here yesterday
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