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Crummy Day For Crude Oil

Forbes.com -- The energy pits were a gauntlet Friday, as a stronger dollar put a dent in crude prices and oil stocks followed black gold lower.

Crude settled at $80.68 a barrel on the New York Mercantile Exchange, down 1.9% after a run-up earlier this week when prices approached $84 a barrel. Traders have been hoping that growth in emerging markets like China and India could help the commodity continue its surge off its February 2009 lows, but tighter monetary policy in those nations threatens to cool their economic growth.

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Submitted Mar 20, 2010 By: OnTheWater

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goldilox88 Champion Author Montreal Posts:2,248 Points:623,605 Joined:Jun 2008	Message Posted: Mar 20, 2010 11:18:42 AM Ignore goldilox88 Report Abuse Crummy for some is a bonanza for others.
MahopacJack Champion Author New York Posts:3,060 Points:720,275 Joined:Feb 2008	Message Posted: Mar 20, 2010 11:13:57 AM Ignore MahopacJack Report Abuse The market may be reacting to the anticipation INFLATION as a result of Obama's Health Care Boondoggle possibly becoming a reality.
arnerator Champion Author Seattle Posts:3,237 Points:654,960 Joined:Sep 2008	Message Posted: Mar 20, 2010 11:13:34 AM Ignore arnerator Report Abuse Some see a "small drop in prices" ?? We need some more down days. My head is swimming after all these outrageous increases.
packards42 Champion Author Washington Posts:1,661 Points:303,355 Joined:Feb 2005	Message Posted: Mar 20, 2010 11:13:16 AM Ignore packards42 Report Abuse I tried twice to get one of the low budget loans, it cost me $500 each time and their was always an excuse. It like oil prices there always an excuse and it made up to.
PaylessKY Champion Author Kentucky Posts:3,590 Points:665,355 Joined:Oct 2008	Message Posted: Mar 20, 2010 11:13:00 AM Ignore PaylessKY Report Abuse Price of oil down, sounds like a good day to me. [Edited by: PaylessKY at 3/20/2010 11:13:29 AM EST]
no_monkey2002 Champion Author Tallahassee Posts:3,783 Points:1,123,190 Joined:Mar 2006	Message Posted: Mar 20, 2010 11:09:57 AM Ignore no_monkey2002 Report Abuse demand is low ,,no employment,,no loans,,no money,,go back into the ground n save us from another deadly earthquake
pliskin Champion Author Syracuse Posts:3,204 Points:978,285 Joined:Apr 2005	Message Posted: Mar 20, 2010 11:09:41 AM Ignore pliskin Report Abuse It's going to get worse!
Diesel_Ram Champion Author Dallas Posts:1,708 Points:554,975 Joined:Jan 2009	Message Posted: Mar 20, 2010 11:05:50 AM Ignore Diesel_Ram Report Abuse Supplies are high and demand is down
BWD Champion Author Charleston Posts:2,412 Points:1,617,885 Joined:May 2004	Message Posted: Mar 20, 2010 11:04:59 AM Ignore BWD Report Abuse oh...that's a horrible day?
UMassLowell Veteran Author Dayton Posts:425 Points:216,570 Joined:May 2008	Message Posted: Mar 20, 2010 11:04:53 AM Ignore UMassLowell Report Abuse majorfall is right on!
majorfall Champion Author New York Posts:10,847 Points:2,173,615 Joined:May 2004	Message Posted: Mar 20, 2010 11:03:14 AM Ignore majorfall Report Abuse its a crooked market as supply and demand mean nothing
PFCASTA All-Star Author Worcester Posts:688 Points:1,074,685 Joined:Apr 2006	Message Posted: Mar 20, 2010 11:02:15 AM Ignore PFCASTA Report Abuse It's still to high.
SUPERQUACK Champion Author Sacramento Posts:1,467 Points:986,025 Joined:Jun 2007	Message Posted: Mar 20, 2010 11:01:13 AM Ignore SUPERQUACK Report Abuse IS THERE STILL SUCH A THING AS SUPPLY AND DEMAND ?????
mazdaboy Champion Author Portland Posts:3,017 Points:1,135,275 Joined:Aug 2003	Message Posted: Mar 20, 2010 11:00:22 AM Ignore mazdaboy Report Abuse Awww... poor oil companies. Why don't you take more of our money? Not.
Texrider49 All-Star Author New Haven Posts:644 Points:214,465 Joined:Dec 2007	Message Posted: Mar 20, 2010 11:00:17 AM Ignore Texrider49 Report Abuse the price of crude oil still needs to come down a lot more
mfeldstein Champion Author Ottawa Posts:3,732 Points:1,051,465 Joined:Feb 2007	Message Posted: Mar 20, 2010 10:59:01 AM Ignore mfeldstein Report Abuse Good. Lower gas prices for the weekend.
baitmn Champion Author New Orleans Posts:4,008 Points:1,129,025 Joined:Sep 2006	Message Posted: Mar 20, 2010 10:55:36 AM Ignore baitmn Report Abuse why the GREED was not there enough this week,
9C1 Champion Author Chicago Posts:17,689 Points:3,278,695 Joined:Jul 2001	Message Posted: Mar 20, 2010 10:54:50 AM Ignore 9C1 Report Abuse As the economy gets better the price of gas goes up. We have to take the bad with the good.
DABEE1073 Champion Author San Diego Posts:2,983 Points:597,535 Joined:Jun 2008	Message Posted: Mar 20, 2010 10:53:41 AM Ignore DABEE1073 Report Abuse INVENTORIES UP 10.2% ABOVE 5 YEAR POINT. AND THE PUMP PRICE STILL GOES UP.
bluenvoy Champion Author Nashville Posts:7,820 Points:1,091,040 Joined:Oct 2005	Message Posted: Mar 20, 2010 10:53:18 AM Ignore bluenvoy Report Abuse It's still to high.
mmene Champion Author Houston Posts:2,570 Points:585,470 Joined:May 2008	Message Posted: Mar 20, 2010 10:50:33 AM Ignore mmene Report Abuse Oil is still way too high given the low demand. This will become apparent over time and the prices will crash.
Metroman Champion Author Philadelphia Posts:8,202 Points:1,645,220 Joined:Aug 2003	Message Posted: Mar 20, 2010 10:47:50 AM Ignore Metroman Report Abuse Awwwwwwwwww I feel sorry for the poor oil speculators! NOT! Oil is still way to high!
gasokie All-Star Author Oklahoma Posts:546 Points:577,040 Joined:May 2007	Message Posted: Mar 20, 2010 10:47:30 AM Ignore gasokie Report Abuse Bad for them....good for us.
Zygnatz Champion Author British Columbia Posts:8,180 Points:1,607,280 Joined:Oct 2005	Message Posted: Mar 20, 2010 10:45:33 AM Ignore Zygnatz Report Abuse It's still too high. Lets see $40.
WIPACKERFAN Champion Author Chicago Posts:3,942 Points:878,815 Joined:Aug 2005	Message Posted: Mar 20, 2010 10:44:13 AM Ignore WIPACKERFAN Report Abuse Any day oil is down is a good day!
EXTREMESNOW Champion Author Medford Posts:4,522 Points:951,785 Joined:Jul 2006	Message Posted: Mar 20, 2010 10:39:35 AM Ignore EXTREMESNOW Report Abuse Give the speculators the weekend off and come Monday it will be back up! Let me know when it is back around $40 a barrel and we will have something to cheer about!
GasRedliningSuk Champion Author Michigan Posts:2,112 Points:461,695 Joined:Jul 2008	Message Posted: Mar 20, 2010 10:39:16 AM Ignore GasRedliningSuk Report Abuse Poor babies...wait a day!
njerald Champion Author Seattle Posts:2,897 Points:667,455 Joined:Oct 2007	Message Posted: Mar 20, 2010 10:38:39 AM Ignore njerald Report Abuse Ho hum.....
gabbygusIN Champion Author Indiana Posts:2,370 Points:596,125 Joined:Oct 2008	Message Posted: Mar 20, 2010 10:38:17 AM Ignore gabbygusIN Report Abuse When the price of oil peaked this week and the prices rose imediately at the pump,, now that they came down, we will see that decrease in about two weeks at the pump!!!!
bumpygas Champion Author Nebraska Posts:3,510 Points:959,500 Joined:Oct 2007	Message Posted: Mar 20, 2010 10:37:43 AM Ignore bumpygas Report Abuse Ah gee, my heart bleeds for the poor crude oil companies.
Maintroll Champion Author Lexington Posts:3,689 Points:725,210 Joined:Aug 2008	Message Posted: Mar 20, 2010 10:36:21 AM Ignore Maintroll Report Abuse I disagree, it should be somewhere between $20 and $30 per barrel and they would still be making money and not stealing from everyone as they are now.
repeater1 Champion Author Kansas Posts:3,452 Points:1,403,370 Joined:Oct 2005	Message Posted: Mar 20, 2010 10:35:08 AM Ignore repeater1 Report Abuse Might be a crummy day for crude, but hopefully it will be a good day for consumers.
LuckyD43 Champion Author Phoenix Posts:14,393 Points:1,578,935 Joined:Apr 2005	Message Posted: Mar 20, 2010 10:33:02 AM Ignore LuckyD43 Report Abuse $80.68 is STILL way too high. It SHOULD be somewhere between $50 and $60.
TommyTraveler Champion Author Cincinnati Posts:3,686 Points:721,055 Joined:Nov 2007	Message Posted: Mar 20, 2010 10:32:48 AM Ignore TommyTraveler Report Abuse They had a tough day? What about the rest of the 300 million Americans that hada tough year and half?
Somis1 Champion Author Ventura Posts:8,333 Points:1,662,465 Joined:Jul 2005	Message Posted: Mar 20, 2010 10:30:46 AM Ignore Somis1 Report Abuse Oh, pity those poor traders, they had a tough day!
tml721 Champion Author Dayton Posts:7,385 Points:1,422,280 Joined:Jul 2005	Message Posted: Mar 20, 2010 10:29:37 AM Ignore tml721 Report Abuse AShort breather before it goes through the roof like it does every year at this time.
I10Express Champion Author San Antonio Posts:3,705 Points:662,345 Joined:Nov 2008	Message Posted: Mar 20, 2010 10:29:24 AM Ignore I10Express Report Abuse I guess crummy is defined by your money grubbing greedy perspective.
murdershewrote Champion Author Riverside Posts:4,632 Points:1,633,310 Joined:Mar 2005	Message Posted: Mar 20, 2010 10:29:13 AM Ignore murdershewrote Report Abuse 30/35$ what it should be
tazdriver Champion Author Huntsville Posts:4,892 Points:1,180,600 Joined:Jan 2007	Message Posted: Mar 20, 2010 10:27:05 AM Ignore tazdriver Report Abuse Not bad, should fall too $25
braves89 Champion Author Chicago Posts:2,755 Points:657,420 Joined:Apr 2008	Message Posted: Mar 20, 2010 10:26:49 AM Ignore braves89 Report Abuse cruumy day for oil should mean lower prices for us
Don20 Champion Author Oklahoma City Posts:4,740 Points:1,646,850 Joined:Mar 2005	Message Posted: Mar 20, 2010 10:24:27 AM Ignore Don20 Report Abuse Crummy Day For Crude Oil.. According to this Morning paper, it dropped $1.53 a brl..
Hazelnut Champion Author Greensboro Posts:1,881 Points:754,305 Joined:Sep 2003	Message Posted: Mar 20, 2010 10:23:32 AM Ignore Hazelnut Report Abuse What a crummy report! Oil didn't drop below $80 and they are complaining that it didn't stay above $84.
HawaiianGuy Champion Author Idaho Posts:4,596 Points:2,111,470 Joined:May 2003	Message Posted: Mar 20, 2010 10:23:05 AM Ignore HawaiianGuy Report Abuse The speculators can all go to hell. Where's the Messiah on this? Oh, I forgot. He's wheeling, dealing, and bribing with OUR hard-earned tax dollars to cement his legacy with Obamacare. Soooo, how's that "Hope" and "Change" going for ya, America?
nerde Champion Author Florida Posts:1,338 Points:363,800 Joined:Jul 2009	Message Posted: Mar 20, 2010 10:22:15 AM Ignore nerde Report Abuse Place your bets at the "Capitalism" casino.
katiejayWV Champion Author West Virginia Posts:1,260 Points:381,360 Joined:Nov 2008	Message Posted: Mar 20, 2010 10:21:59 AM Ignore katiejayWV Report Abuse What is so crummy about oil going down.
J4romeo Veteran Author Gary Posts:315 Points:620,755 Joined:Jan 2006	Message Posted: Mar 20, 2010 10:20:55 AM Ignore J4romeo Report Abuse start rolling the ball n stop all this BS. Take out others n do more drilling in the USA.
Bill100 Champion Author Grand Rapids Posts:3,589 Points:201,000 Joined:Jan 2010	Message Posted: Mar 20, 2010 10:20:46 AM Ignore Bill100 Report Abuse A crummy day. It almost mades me sad for oil speculators. Not quite, but I will think about it.
wizzard1222 Champion Author St. Louis Posts:3,708 Points:1,343,190 Joined:Mar 2006	Message Posted: Mar 20, 2010 10:20:11 AM Ignore wizzard1222 Report Abuse Anything > $30 is Crummy ???
NotTom Champion Author New Hampshire Posts:2,394 Points:727,010 Joined:Aug 2005	Message Posted: Mar 20, 2010 10:19:18 AM Ignore NotTom Report Abuse Good, let's see the price at the pump follow
SSchmidty Champion Author Illinois Posts:4,332 Points:819,365 Joined:Mar 2008	Message Posted: Mar 20, 2010 10:18:32 AM Ignore SSchmidty Report Abuse Let's everyone raise a cheer for pig-oil & friends geting put in their place within the economic realities.
Lengas Champion Author Gary Posts:8,382 Points:1,740,150 Joined:Nov 2004	Message Posted: Mar 20, 2010 10:14:33 AM Ignore Lengas Report Abuse Get rid of the speculators
CSharpGuy Champion Author Colorado Springs Posts:4,559 Points:925,660 Joined:Jan 2008	Message Posted: Mar 20, 2010 10:14:14 AM Ignore CSharpGuy Report Abuse It will be a good day when the US drills for its own oil and doesn't let the Russians drill for oil in the Gulf of Mexico.