GasBuddy Blog

Message Forum - Read Message

Category: GasBuddy Official Blog > Topics	Add to favorite topics Post New Topic

Author	Topic: Crude oil at $200 per barrel?	Post a Reply Back to Topics

PD Moderator	Message Posted: Mar 22, 2012 11:19:21 AM Ignore PD Report Abuse CNBC is reporting today that crude oil futures may hit higher levels than previously projected and Brent crude could reach $200 per barrel within the next 12 months. They say global crude supplies remain unusually tight, and that's despite the flow of oil from Libya returning from last year's disruptions, and, Saudi Arabia generating its highest output in 30 years. The physical price of crude, which refers to what's actually paid for it when it's shipped from a producer to a buyer/refinery, has exceeded the price of Brent futures consistently since mid-February. CNBC says that the U.S. summer driving season which begins in April, is likely to add upward pressure on prices -- and we agree-- but whether Brent... Visit GasBuddy Blog for full article

Moderator

Message Posted: Mar 22, 2012 11:19:21 AM

Ignore PD Report Abuse

CNBC is reporting today that crude oil futures may hit higher levels than previously projected and Brent crude could reach $200 per barrel within the next 12 months.

They say global crude supplies remain unusually tight, and that's despite the flow of oil from Libya returning from last year's disruptions, and, Saudi Arabia generating its highest output in 30 years.

The physical price of crude, which refers to what's actually paid for it when it's shipped from a producer to a buyer/refinery, has exceeded the price of Brent futures consistently since mid-February.

CNBC says that the U.S. summer driving season which begins in April, is likely to add upward pressure on prices -- and we agree-- but whether Brent...

Visit GasBuddy Blog for full article

REPLIES (newest first)Ignore Short Messages

First

Next Last

Gas4Gore Champion Author Detroit Posts:2,401 Points:419,875 Joined:Jan 2010	Message Posted: Apr 19, 2012 5:56:39 PM Ignore Gas4Gore Report Abuse I think not.
2011370Z Champion Author Phoenix Posts:5,880 Points:679,080 Joined:Apr 2011	Message Posted: Apr 19, 2012 11:49:48 AM Ignore 2011370Z Report Abuse I find it hard to believe that crude will double in 12 months. But, this would not be the first time I was wrong this week.
clpassenubye Champion Author Los Angeles Posts:3,359 Points:750,755 Joined:Mar 2011	Message Posted: Apr 19, 2012 10:36:00 AM Ignore clpassenubye Report Abuse Hope not
clpassenubye Champion Author Los Angeles Posts:3,359 Points:750,755 Joined:Mar 2011	Message Posted: Apr 19, 2012 10:35:51 AM Ignore clpassenubye Report Abuse Hope not
kishoreCA Champion Author Ventura Posts:3,095 Points:388,145 Joined:Mar 2012	Message Posted: Apr 18, 2012 7:22:30 PM Ignore kishoreCA Report Abuse whatever, bottom line is consumers are paying high gas price.
Gas4Gore Champion Author Detroit Posts:2,401 Points:419,875 Joined:Jan 2010	Message Posted: Apr 18, 2012 4:48:26 PM Ignore Gas4Gore Report Abuse That may be true if President Barack Hussein Obama gets reelected as President. Good reason to vote him out, okay.
Donatelo Champion Author Dayton Posts:1,115 Points:290,865 Joined:Apr 2011	Message Posted: Apr 18, 2012 9:31:30 AM Ignore Donatelo Report Abuse no k
albert2008 Champion Author Winnipeg Posts:7,332 Points:1,477,010 Joined:Sep 2008	Message Posted: Apr 18, 2012 8:01:27 AM Ignore albert2008 Report Abuse not good
GBMAX Champion Author Phoenix Posts:4,631 Points:1,897,605 Joined:Feb 2005	Message Posted: Apr 17, 2012 6:08:09 PM Ignore GBMAX Report Abuse No
gasokie Champion Author Oklahoma Posts:3,442 Points:1,323,805 Joined:May 2007	Message Posted: Apr 17, 2012 4:24:33 PM Ignore gasokie Report Abuse Well, that would cause me to drag out my bike. But we won't see that. Many don't think we can have another oil bust but they said the same thing in the 80s. Oil by it's very nature is a boom-bust product. Bad thing about a bust is exploration stops. Dead. Eventually, revival brings higher than ever prices and all kinds of economic upheaval and yes, renewed exploration, increased production again and eventually another bust.
heydano67 Champion Author California Posts:1,646 Points:353,535 Joined:Feb 2012	Message Posted: Apr 17, 2012 4:00:33 PM Ignore heydano67 Report Abuse demand would drop drastically, globally if it were to spike like that
Donatelo Champion Author Dayton Posts:1,115 Points:290,865 Joined:Apr 2011	Message Posted: Apr 17, 2012 9:42:28 AM Ignore Donatelo Report Abuse k
photobuddy Champion Author Washington Posts:1,620 Points:370,255 Joined:Feb 2012	Message Posted: Apr 16, 2012 7:56:47 PM Ignore photobuddy Report Abuse hope it doesn't reach $200 a barrel
cleangasprices Veteran Author Vancouver Posts:315 Points:72,515 Joined:May 2011	Message Posted: Apr 16, 2012 6:41:08 PM Ignore cleangasprices Report Abuse It's all a figure game, up or down. What's the point of view?
gawxnative All-Star Author Atlanta Posts:510 Points:229,265 Joined:Aug 2006	Message Posted: Apr 16, 2012 2:34:13 PM Ignore gawxnative Report Abuse Thinking it is going to hit a wall and drop but not near as much as 2008
gasokie Champion Author Oklahoma Posts:3,442 Points:1,323,805 Joined:May 2007	Message Posted: Apr 15, 2012 12:32:17 PM Ignore gasokie Report Abuse No. I see it trending down to about 80 bucks. And I could be wrong...first time for everything.
albert2008 Champion Author Winnipeg Posts:7,332 Points:1,477,010 Joined:Sep 2008	Message Posted: Apr 15, 2012 8:20:16 AM Ignore albert2008 Report Abuse hope there wrong
cleangasprices Veteran Author Vancouver Posts:315 Points:72,515 Joined:May 2011	Message Posted: Apr 15, 2012 3:58:49 AM Ignore cleangasprices Report Abuse We are forced to tighten our belts!
carinthuist Champion Author San Francisco Posts:2,221 Points:326,010 Joined:Mar 2012	Message Posted: Apr 3, 2012 10:39:21 AM Ignore carinthuist Report Abuse I don't beleive so thats my opion .
Rehorsehay All-Star Author California Posts:871 Points:45,925 Joined:Feb 2012	Message Posted: Mar 27, 2012 1:29:38 PM Ignore Rehorsehay Report Abuse More speculation
asog75 All-Star Author Indiana Posts:836 Points:277,980 Joined:Aug 2011	Message Posted: Mar 27, 2012 12:17:50 AM Ignore asog75 Report Abuse more speculating! well i speculate a barrel of oil will cost $45.00,due to market collapse and world wide deperession,caused buy over priceing and greed!!!
jetskijerry Champion Author North Carolina Posts:3,876 Points:768,270 Joined:Mar 2011	Message Posted: Mar 26, 2012 11:37:19 PM Ignore jetskijerry Report Abuse ???? There's no reason for this but greed...
Vette1967 Champion Author Albany Posts:5,947 Points:1,272,000 Joined:Jun 2009	Message Posted: Mar 26, 2012 4:32:01 PM Ignore Vette1967 Report Abuse All thanks to a weak dollar, higher world demand, Irans threats and of course...our friends...the Speculators.
Reishman Veteran Author Illinois Posts:384 Points:513,615 Joined:Sep 2006	Message Posted: Mar 26, 2012 4:24:52 PM Ignore Reishman Report Abuse Oil sucks.
123cowboy Champion Author Maine Posts:1,833 Points:403,570 Joined:Mar 2011	Message Posted: Mar 26, 2012 12:37:05 PM Ignore 123cowboy Report Abuse let's not get too excited...we don't need the prices that high...
Edpap Champion Author Pennsylvania Posts:4,304 Points:502,925 Joined:Oct 2011	Message Posted: Mar 25, 2012 1:51:50 PM Ignore Edpap Report Abuse Please don't use the word intelligence and Panetta in the same sentence. This guy is a disgrace.
djdumlao Rookie Author Chicago Posts:99 Points:24,285 Joined:Apr 2008	Message Posted: Mar 24, 2012 6:45:03 PM Ignore djdumlao Report Abuse I dont understand why gas prizes keep on rising. Is it because of the election this year.
runinoutagas Champion Author San Bernardino Posts:10,482 Points:1,615,435 Joined:Oct 2008	Message Posted: Mar 24, 2012 2:09:44 AM Ignore runinoutagas Report Abuse Nice pic of the Lakeview Gusher over in Bakersfield. Looks like about the 16th day. ;)
Cakes77 Champion Author Harrisburg Posts:5,140 Points:1,648,745 Joined:Aug 2006	Message Posted: Mar 23, 2012 6:48:31 AM Ignore Cakes77 Report Abuse Not gonna happen, stop helping the speculators.
crazycow2332 Champion Author Nashville Posts:1,217 Points:254,980 Joined:May 2010	Message Posted: Mar 23, 2012 6:23:40 AM Ignore crazycow2332 Report Abuse stop speculating it is making things worse
CSharpGuy Champion Author Colorado Springs Posts:9,452 Points:1,894,385 Joined:Jan 2008	Message Posted: Mar 23, 2012 6:01:15 AM Ignore CSharpGuy Report Abuse Anyone can predict gas prices.
Br549oks Champion Author Kansas Posts:11,964 Points:2,429,270 Joined:Nov 2005	Message Posted: Mar 23, 2012 2:49:43 AM Ignore Br549oks Report Abuse same lame excuse
pgerassi Champion Author Milwaukee Posts:10,881 Points:2,128,580 Joined:Apr 2007	Message Posted: Mar 22, 2012 11:13:18 PM Ignore pgerassi Report Abuse Baloney! We have huge inventories here in the US of crude oil (outside of the SPR), and yet these idiots think there is a supply shortage. What we really have is the cornering of the market by CIF issuers who absolutely need the price to continue rising or they will lose big time.
jtfftj Champion Author New Hampshire Posts:2,167 Points:1,244,400 Joined:Sep 2005	Message Posted: Mar 22, 2012 11:10:36 PM Ignore jtfftj Report Abuse Quick, re-elect Obozo so this won't happen. No that isn't right. Must be something to do to avoid this crisis that CNBC says is so important. (They didn't know yesterday, but they do now.)
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Mar 22, 2012 11:09:03 PM Ignore frostyWV Report Abuse speculation
HEBster Champion Author Kentucky Posts:8,768 Points:2,370,025 Joined:May 2006	Message Posted: Mar 22, 2012 11:07:21 PM Ignore HEBster Report Abuse Ugly...
nztyraider Champion Author Nevada Posts:2,268 Points:690,750 Joined:Apr 2009	Message Posted: Mar 22, 2012 11:05:07 PM Ignore nztyraider Report Abuse Obama could only dream.
Toppers Champion Author Atlanta Posts:8,992 Points:2,466,695 Joined:Mar 2005	Message Posted: Mar 22, 2012 11:02:24 PM Ignore Toppers Report Abuse Won't be sellin' much...
DEG Champion Author Las Vegas Posts:17,605 Points:3,491,680 Joined:Jul 2003	Message Posted: Mar 22, 2012 11:02:10 PM Ignore DEG Report Abuse So we may hit $8/gallon before getting to vote out Obama?
amgine27 Champion Author New York Posts:1,252 Points:302,690 Joined:Aug 2008	Message Posted: Mar 22, 2012 11:00:35 PM Ignore amgine27 Report Abuse what
FastAndy Champion Author Indianapolis Posts:4,496 Points:1,981,800 Joined:Jun 2007	Message Posted: Mar 22, 2012 11:00:03 PM Ignore FastAndy Report Abuse If it happen we will all be in big trouble but Obama will be in bigger trouble.
vibdata Champion Author Massachusetts Posts:4,074 Points:846,275 Joined:Nov 2005	Message Posted: Mar 22, 2012 10:55:55 PM Ignore vibdata Report Abuse IF you could guarantee me $4000 per barrel, I'd buy as much as possible now and sell it to you at that price. I AM A GREEDY SLIMEBALL. I AM A SPECULATOR.
s6sputnik Champion Author Austin Posts:6,209 Points:1,304,395 Joined:Jun 2007	Message Posted: Mar 22, 2012 10:55:32 PM Ignore s6sputnik Report Abuse They say global crude supplies remain unusually tight, and that's despite the flow of oil from Libya returning from last year's disruptions, and, Saudi Arabia generating its highest output in 30 years?
ShutRBug Champion Author Ontario Posts:1,524 Points:651,865 Joined:Jun 2005	Message Posted: Mar 22, 2012 10:54:44 PM Ignore ShutRBug Report Abuse Ridiculous
bvrbill Champion Author Eugene Posts:3,188 Points:514,625 Joined:Jul 2011	Message Posted: Mar 22, 2012 10:50:51 PM Ignore bvrbill Report Abuse We need a plan for sustainable prices. Being gouged by oil companies is not the answer.
knot2swift Champion Author Calgary Posts:4,374 Points:695,250 Joined:Nov 2009	Message Posted: Mar 22, 2012 10:49:35 PM Ignore knot2swift Report Abuse Too stupid. I expcet oil to be $150 when I retire 9 1/2 yuears from now as a Machinist the makes "Toys for the boys". Natural Gas won't lt oil get that high! Such a stupid friggin article! [Edited by: knot2swift at 3/22/2012 11:50:29 PM EST]
amgine27 Champion Author New York Posts:1,252 Points:302,690 Joined:Aug 2008	Message Posted: Mar 22, 2012 10:49:15 PM Ignore amgine27 Report Abuse ok
my2002m Champion Author Tulsa Posts:6,054 Points:1,666,300 Joined:Jul 2008	Message Posted: Mar 22, 2012 10:49:01 PM Ignore my2002m Report Abuse Someday it will be.
WinderGuy Champion Author Georgia Posts:2,849 Points:928,605 Joined:Mar 2008	Message Posted: Mar 22, 2012 10:46:35 PM Ignore WinderGuy Report Abuse No way.
Prodaddy Champion Author Houston Posts:8,360 Points:1,891,185 Joined:May 2007	Message Posted: Mar 22, 2012 10:45:06 PM Ignore Prodaddy Report Abuse We are allgoing down the tubes with these crazy oil prices