Oil jumps $4 on Fed, supplies to over 94 dollars - GoFuckYourself.com

Azoy? · 10-31-2007, 12:38 PM

NEW YORK (CNNMoney.com) -- Oil prices set a new record high Wednesday, jumping over $4 on an expected interest rate cut from the Federal Reserve and dwindling supplies in the United States.

U.S. light crude for December delivery jumped $4.15 to settle at a new record of $94.53 a barrel on the New York Mercantile Exchange, topping Monday's record close of $93.80 a barrel. Prices rose as high as $94.74 in intraday trade, surpassing crude's all-time record trading high of $93.80 a barrel, also set Monday.
oil_rig.03.jpg
Oil prices jumped over $4 Wednesday, setting a new record.
Special Reportfull coverage
GAS CRUNCH
Oil: No longer a heavyweight
Oil jumps $4 on Fed, supplies
The new math of oil
How a Fed rate cut raises oil prices
Video
More video
Crude awakening
CNN's Charles Hodson speaks with Peter Dixon of Commerzbank about the spike in oil prices.
Play video

The Fed cut its key funds rate by a quarter percentage point Wednesday. The move, which will effect the amount both consumers and business have to pay to borrow money, was expected and traders said most of the quarter point cut was already priced into oil.

Oil prices initially retreated to trade below $94 a barrel just after the late-day interest rate news.
A rate cut also pushes down the dollar, in which oil is priced. A falling dollar makes oil cheaper for foreign consumers and means oil producing countries have less incentive to raise production, both of which are bullish for oil prices.

Full story here

ADL Colin · 10-31-2007, 12:40 PM

Hellll Yeaaaaaah! hopefully gas will start going up. ;-)

Oracle Porn · 10-31-2007, 01:14 PM

gas going up dollar going down usa going to shit.

L-Pink · 10-31-2007, 01:15 PM

Quote:

Originally Posted by ADL Colin

Hellll Yeaaaaaah! hopefully gas will start going up. ;-)

????? ................

ADL Eddie · 10-31-2007, 01:18 PM

Quote:

Originally Posted by L-Pink

????? ................

30% of my portfolio in oil stocks. Need a bigger crack spread though cuz I have some refiners too and the spread has been decreasing all year. See http://en.wikipedia.org/wiki/Crack_spread

Azoy? · 10-31-2007, 01:42 PM

Quote:

Originally Posted by Oracle Porn

gas going up dollar going down usa going to shit.

it already did the day bush got elected as the president.
the moment he will leave thing will get better and you can take that to the bank

GAMEFINEST · 10-31-2007, 01:49 PM

dayammmmmmmmmmm

xmas13 · 10-31-2007, 03:27 PM

Quote:

Originally Posted by Oracle Porn

gas going up dollar going down usa going to shit.

Armageddon? Apocalypse? Roswell aliens taking over the US? Majestic 12?

WHATS GOING ON ?

pornguy · 10-31-2007, 03:39 PM

better than asking people not to buy gas. Everyone in the country should just NOT GO TO WORK...

10-31-2007, 12:38 PM	#1
Azoy? Confirmed User Join Date: Aug 2005 Posts: 2,178	Oil jumps $4 on Fed, supplies to over 94 dollars NEW YORK (CNNMoney.com) -- Oil prices set a new record high Wednesday, jumping over $4 on an expected interest rate cut from the Federal Reserve and dwindling supplies in the United States. U.S. light crude for December delivery jumped $4.15 to settle at a new record of $94.53 a barrel on the New York Mercantile Exchange, topping Monday's record close of $93.80 a barrel. Prices rose as high as $94.74 in intraday trade, surpassing crude's all-time record trading high of $93.80 a barrel, also set Monday. oil_rig.03.jpg Oil prices jumped over $4 Wednesday, setting a new record. Special Reportfull coverage GAS CRUNCH Oil: No longer a heavyweight Oil jumps $4 on Fed, supplies The new math of oil How a Fed rate cut raises oil prices Video More video Crude awakening CNN's Charles Hodson speaks with Peter Dixon of Commerzbank about the spike in oil prices. Play video The Fed cut its key funds rate by a quarter percentage point Wednesday. The move, which will effect the amount both consumers and business have to pay to borrow money, was expected and traders said most of the quarter point cut was already priced into oil. Oil prices initially retreated to trade below $94 a barrel just after the late-day interest rate news. A rate cut also pushes down the dollar, in which oil is priced. A falling dollar makes oil cheaper for foreign consumers and means oil producing countries have less incentive to raise production, both of which are bullish for oil prices. Full story here

10-31-2007, 12:40 PM	#2
ADL Colin Too lazy to set a custom title Join Date: Feb 2001 Location: Tube Titans, USA Posts: 11,929	Hellll Yeaaaaaah! hopefully gas will start going up. ;-) __________________ Adult Date Link - $50 PPS starting NOW! -- good and JUICY! skype = "adultdatelink" Last edited by ADL Colin; 10-31-2007 at 12:41 PM..

10-31-2007, 01:14 PM	#3
Oracle Porn Affiliate Industry Role: Join Date: Oct 2002 Location: Icq: 94-399-723 Posts: 24,433	gas going up dollar going down usa going to shit. __________________

10-31-2007, 01:49 PM	#7
GAMEFINEST Make STACK$ Industry Role: Join Date: Nov 2006 Location: sexy time Posts: 14,436	dayammmmmmmmmmm __________________ Compound interest.

10-31-2007, 03:39 PM	#9
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	better than asking people not to buy gas. Everyone in the country should just NOT GO TO WORK... __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!