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Oil prices may drop under $100 as jobs report spooks market

GasBuddy Blog -- The latest jobs report came out last week, but because of Good Friday, the market hasn't yet had the chance to react accordingly. Today is the first day since the release of the report that stocks and commodity trading is open- and it's looking like the report may just have sent more fear back in to the market.

Oil prices are down near $100 per barrel, and if things continue, oil may even drop under that magic triple digit level, which could possibly lead to further a sell-off as technical barriers are broken. Gasoline futures are also down to start the week, continuing last week's sell off after the Energy Information Administration report that showed refineries boosting utilization earlier than expected amid a 9 million barrel rise...

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Submitted Apr 09, 2012 By: PD

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oas Champion Author Maryland Posts:4,235 Points:2,142,390 Joined:Feb 2005	Message Posted: Apr 10, 2012 12:44:03 PM Ignore oas Report Abuse Doesn't seem to bring down pump prices, though.
ultm8opie Champion Author Twin Cities Posts:2,204 Points:534,830 Joined:Jan 2011	Message Posted: Apr 10, 2012 12:40:33 PM Ignore ultm8opie Report Abuse drop it like it's hot!
DrZNY Champion Author Albany Posts:2,564 Points:823,510 Joined:Jan 2009	Message Posted: Apr 10, 2012 12:40:31 PM Ignore DrZNY Report Abuse Should be more like $60 a barrel.
esorsd Champion Author St. Louis Posts:5,743 Points:1,639,715 Joined:May 2005	Message Posted: Apr 10, 2012 12:38:21 PM Ignore esorsd Report Abuse good.
dabbadu Champion Author New York Posts:1,056 Points:661,755 Joined:Feb 2011	Message Posted: Apr 10, 2012 12:37:25 PM Ignore dabbadu Report Abuse Operative phrase "may drop". THIS ISN'T NEWS, IT'S OPINION/PREDICTION!!!
atater Champion Author London Posts:15,862 Points:3,110,250 Joined:May 2004	Message Posted: Apr 10, 2012 12:37:10 PM Ignore atater Report Abuse Hey Senrac, if you read under the headline--- just before the name of the poster, you will see the date posted (which for this topic it was YESTERDAY)--so it is not "same story second day??????".
jimbo1867 Champion Author Arizona Posts:5,382 Points:2,056,500 Joined:Apr 2005	Message Posted: Apr 10, 2012 12:35:54 PM Ignore jimbo1867 Report Abuse uhuh
Amanstrom Champion Author Los Angeles Posts:1,857 Points:538,905 Joined:Jul 2011	Message Posted: Apr 10, 2012 12:35:13 PM Ignore Amanstrom Report Abuse Interesting
NorthglennBill Champion Author Denver Posts:7,432 Points:1,473,145 Joined:Oct 2008	Message Posted: Apr 10, 2012 12:34:41 PM Ignore NorthglennBill Report Abuse The price of oil is falling, even today. But the price of gasoline keeps on raising.
silverfoxv65 Champion Author Michigan Posts:4,485 Points:1,230,875 Joined:Sep 2009	Message Posted: Apr 10, 2012 12:34:34 PM Ignore silverfoxv65 Report Abuse Good let it go, before the economy takes a big s!
zaq001 Champion Author Atlanta Posts:3,985 Points:1,474,050 Joined:Oct 2008	Message Posted: Apr 10, 2012 12:34:21 PM Ignore zaq001 Report Abuse ok
eaglev Champion Author Oklahoma City Posts:4,001 Points:937,155 Joined:Jul 2005	Message Posted: Apr 10, 2012 12:32:43 PM Ignore eaglev Report Abuse doesn't matter the price of gas will still be high
USAv8tor Veteran Author Long Island Posts:348 Points:138,665 Joined:Mar 2012	Message Posted: Apr 10, 2012 12:31:37 PM Ignore USAv8tor Report Abuse Just imagine if gas dropped to $1.50/gal. for premium?
yeehaw1073 Champion Author Indiana Posts:2,361 Points:1,849,675 Joined:May 2004	Message Posted: Apr 10, 2012 12:29:58 PM Ignore yeehaw1073 Report Abuse hope it helps pump prices...
hibsaw Champion Author Mississippi Posts:8,047 Points:1,682,940 Joined:Feb 2008	Message Posted: Apr 10, 2012 12:28:27 PM Ignore hibsaw Report Abuse Crude is $101.00 as we speak. Needs to drop to around $70. Just wishing.
dirtydiesel10 Champion Author Colorado Springs Posts:1,162 Points:232,460 Joined:Dec 2010	Message Posted: Apr 10, 2012 12:27:50 PM Ignore dirtydiesel10 Report Abuse Speculations!
Senrac Champion Author Lincoln Posts:1,594 Points:305,635 Joined:Mar 2010	Message Posted: Apr 10, 2012 12:25:15 PM Ignore Senrac Report Abuse same story second day??????
bicycler Champion Author Ontario Posts:14,815 Points:2,598,445 Joined:May 2005	Message Posted: Apr 10, 2012 12:24:42 PM Ignore bicycler Report Abuse Specdevils are at it again! A pox on them and those who operate the market and those in government who protect them!
DaisysMomNC All-Star Author North Carolina Posts:959 Points:200,850 Joined:Jan 2012	Message Posted: Apr 10, 2012 12:24:16 PM Ignore DaisysMomNC Report Abuse Isn't this an old article?
dsw56 Champion Author Kentucky Posts:1,374 Points:565,140 Joined:Dec 2010	Message Posted: Apr 10, 2012 12:23:44 PM Ignore dsw56 Report Abuse When will pump prices decline?
mikesr11 Champion Author New York City Posts:3,506 Points:681,190 Joined:Mar 2011	Message Posted: Apr 10, 2012 12:22:48 PM Ignore mikesr11 Report Abuse THE JOBS REPORT - MORE MANIPULATED NUMBERS BY BO AND HIS ADMINISTRATION. I'M THIRSTY FOR MORE - PASS THE KOOL AID!
IMLURCH Champion Author Minnesota Posts:2,189 Points:1,104,155 Joined:Mar 2009	Message Posted: Apr 10, 2012 12:22:24 PM Ignore IMLURCH Report Abuse Again old article.
crusader1975 Champion Author Louisiana Posts:1,136 Points:309,390 Joined:Apr 2008	Message Posted: Apr 10, 2012 12:21:56 PM Ignore crusader1975 Report Abuse Let it come down more, we need the break!!!
naiiawah Champion Author Boise Posts:2,395 Points:690,825 Joined:Mar 2011	Message Posted: Apr 10, 2012 12:19:35 PM Ignore naiiawah Report Abuse Old article?!?
Travel1st Champion Author Las Vegas Posts:2,930 Points:472,610 Joined:Aug 2011	Message Posted: Apr 10, 2012 12:18:05 PM Ignore Travel1st Report Abuse Good one :>) honkerman "You mean drop like a feather in a thermal updraft????"
arnerator Champion Author Seattle Posts:8,184 Points:1,618,140 Joined:Sep 2008	Message Posted: Apr 10, 2012 12:18:03 PM Ignore arnerator Report Abuse A monster drop of 0.6 cents per gallon while crude is tumbling.... hoop de doo.
TRAIN RIDER Champion Author San Bernardino Posts:9,082 Points:2,757,820 Joined:Oct 2004	Message Posted: Apr 10, 2012 12:17:40 PM Ignore TRAIN RIDER Report Abuse You mean that they finally did an article on prices dropping? I can't believe it.
TheSicilian Champion Author Jacksonville Posts:5,384 Points:1,470,725 Joined:Feb 2009	Message Posted: Apr 10, 2012 12:17:04 PM Ignore TheSicilian Report Abuse lets hope they drop
kzrooster Champion Author Kalamazoo Posts:2,390 Points:517,725 Joined:Nov 2011	Message Posted: Apr 10, 2012 12:16:56 PM Ignore kzrooster Report Abuse Will this impact our cost at the pump?
honkerman Champion Author San Jose Posts:44,307 Points:2,398,070 Joined:Jul 2004	Message Posted: Apr 10, 2012 12:16:35 PM Ignore honkerman Report Abuse You mean drop like a feather in a thermal updraft????
patward99 Sophomore Author Pennsylvania Posts:166 Points:601,820 Joined:May 2008	Message Posted: Apr 10, 2012 12:16:02 PM Ignore patward99 Report Abuse repete post from yesterday...
bonbon5 Champion Author Toledo Posts:1,975 Points:528,750 Joined:Feb 2011	Message Posted: Apr 10, 2012 12:16:01 PM Ignore bonbon5 Report Abuse yeah, yeah, yeah!!!
gasmask78 Champion Author Virginia Posts:2,283 Points:446,565 Joined:Sep 2011	Message Posted: Apr 10, 2012 12:14:29 PM Ignore gasmask78 Report Abuse I hope for $80/barrel...
preacherboyFL Veteran Author Orlando Posts:444 Points:124,960 Joined:Feb 2012	Message Posted: Apr 10, 2012 12:12:06 PM Ignore preacherboyFL Report Abuse :/
baconnie Champion Author Dallas Posts:2,797 Points:563,210 Joined:Jun 2008	Message Posted: Apr 10, 2012 12:12:00 PM Ignore baconnie Report Abuse I hope it drops even further
tetrahc Rookie Author New Mexico Posts:63 Points:11,580 Joined:Mar 2012	Message Posted: Apr 10, 2012 12:10:30 PM Ignore tetrahc Report Abuse I'd love to see that!
Alfied Champion Author Riverside Posts:7,945 Points:1,757,235 Joined:Jun 2001	Message Posted: Apr 10, 2012 12:10:11 PM Ignore Alfied Report Abuse Up and down, up and down, makes the world go around.
RichFWA Champion Author Tacoma Posts:1,175 Points:289,845 Joined:Mar 2011	Message Posted: Apr 10, 2012 12:09:05 PM Ignore RichFWA Report Abuse Let's see it at the pumps!
Grumpy0521 Champion Author Ontario Posts:2,084 Points:752,485 Joined:Dec 2008	Message Posted: Apr 10, 2012 12:08:33 PM Ignore Grumpy0521 Report Abuse Prices per barrel may go down but doesn't seem to change at the pumps.
mageetp Champion Author British Columbia Posts:3,215 Points:626,935 Joined:Aug 2011	Message Posted: Apr 10, 2012 12:07:19 PM Ignore mageetp Report Abuse old blog
aarrrt Champion Author San Diego Posts:7,276 Points:1,652,545 Joined:May 2008	Message Posted: Apr 10, 2012 12:07:12 PM Ignore aarrrt Report Abuse I wouldn't hold my breath.
19sheldon43 Champion Author Los Angeles Posts:3,979 Points:843,010 Joined:Jul 2009	Message Posted: Apr 10, 2012 12:06:37 PM Ignore 19sheldon43 Report Abuse Wrong! Oil went up past $2.00 today
NanookAK Champion Author Anchorage Posts:7,259 Points:1,441,990 Joined:Nov 2007	Message Posted: Apr 10, 2012 12:06:18 PM Ignore NanookAK Report Abuse Yeah, but prices at the pump won't drop.
BWALL2700 Champion Author Illinois Posts:2,174 Points:195,735 Joined:Apr 2011	Message Posted: Apr 10, 2012 12:05:58 PM Ignore BWALL2700 Report Abuse Prices are dropping here. Still $4.12 is nothing to rejoice about.
vjs3 Champion Author Denver Posts:2,546 Points:650,890 Joined:Jun 2011	Message Posted: Apr 10, 2012 12:03:07 PM Ignore vjs3 Report Abuse High enough now
WhiteTreeIndian Champion Author New Jersey Posts:5,659 Points:1,123,085 Joined:Dec 2009	Message Posted: Apr 10, 2012 12:00:42 PM Ignore WhiteTreeIndian Report Abuse Yeah spook this,,, get the prices down.
esquared Champion Author Oklahoma City Posts:8,072 Points:1,971,085 Joined:Jan 2006	Message Posted: Apr 10, 2012 12:00:27 PM Ignore esquared Report Abuse Conserve here, conserve now!
AuburnTim Champion Author Indiana Posts:6,828 Points:1,559,190 Joined:May 2005	Message Posted: Apr 10, 2012 11:58:24 AM Ignore AuburnTim Report Abuse ok
kelly1016 Champion Author Victoria Posts:1,953 Points:352,940 Joined:Oct 2011	Message Posted: Apr 10, 2012 11:58:20 AM Ignore kelly1016 Report Abuse Speculation and taxes are the two things the government can control when it comes to gas prices. They should go after the speculators. make them pay cash for their purchases and tax the profits they make without tax breaks. take the incentives to speculate and they will disappear leaving only real customers bidding for the oil.
Nicoalbum Champion Author Ottawa Posts:6,021 Points:1,189,625 Joined:Jan 2010	Message Posted: Apr 10, 2012 11:58:12 AM Ignore Nicoalbum Report Abuse If gas prices will follow oil, a new recession will be very close.
BEAVER08 Rookie Author Albuquerque Posts:1 Points:470 Joined:Dec 2009	Message Posted: Apr 10, 2012 11:57:40 AM Ignore BEAVER08 Report Abuse SOME ONE SHOULD PUT OUT A "HIT" ON ALL THE SPECULATORS.......YEH!!!
eye-spy Champion Author Quebec Posts:4,588 Points:2,417,845 Joined:Feb 2005	Message Posted: Apr 10, 2012 11:55:15 AM Ignore eye-spy Report Abuse Oil drops...Gas goes up. Go figure!!!