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GasBuddy News Article

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Crude drops after Obama victory, ahead of supply

MarketWatch -- Crude-oil futures fell in volatile trading on Wednesday, failing to join in some renewed risk appetite after news of a second term for U.S. President Barack Obama, as investors awaited key supply data.

Futures for December crude fell 31 cents to $88.39 a barrel on the New York Mercantile Exchange, erasing strong gains seen the prior day. Crude gained 3.6% on Tuesday, helped by a pullback in the greenback.
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“His re-election should be viewed as rather bullish for oil, as in addition to a tougher stance on energy regulations and licensing in the U.S., he is friendlier toward expansionary monetary policies than his opponent in the presidential race, [Mitt] Romney,” said analysts at JBC Energy in emailed comments.

However, oil was on the decline as the market awaited some key supply data.


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Submitted Nov 07, 2012 By: brbaritone
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Crude drops after Obama victory, ahead of supply Back to Topics
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honda0105
Champion Author Tallahassee

Posts:21,479
Points:1,947,740
Joined:Nov 2008
Message Posted: Nov 11, 2012 5:41:37 AM

gas and crude may drop but economically speaking, unless diesel drops significantly, we won't see much economical improvement.
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honda0105
Champion Author Tallahassee

Posts:21,479
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Message Posted: Nov 10, 2012 6:34:12 AM

supply and demand certainly are not connected in this industry.
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rbrk02
Champion Author Rhode Island

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Points:1,155,105
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Message Posted: Nov 8, 2012 7:13:52 AM

ExitRamp, again, well said. Like a light at the end of a dark tunnel.

Alaydown, also, very well reasoned and well said.
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Alaydown
Champion Author Los Angeles

Posts:6,631
Points:1,083,080
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Message Posted: Nov 8, 2012 12:48:03 AM

jrsva, 2.3 percent margin in the popular vote is not a "wide margin." As it stands in the current vote total, McCain got more popular votes in 2008 than Obama did in 2012.

While I respect the office of the President of the USA, I don't respect the man occupying the office at all for many reasons. Half the country feels the same way. Get over it!

To date, I have never called Obama any names on this website. I did however, pretty much trash a machine-signed form letter from him thanking me for my 30 years of service when I retired from the Navy. He has been my worst Commander-in-Chief in my 30 years, and that includes even Carter.

Obama said many things in 2008 about trying to unite the country, but for the 4 years he has been in office, he has done more to polarize this country than any person in at least 50 years. It is rare when the guy is truthful about anything.

So now we are stuck with this guy for another 4 years. More than likely, he will continue to vote "Present" like he has for the past 4 years instead of leading us through the many problems this country has. He will continue to blame Bush and Republicans for everything bad, and he will take credit for everything good even when he had nothing to do with it. He has not even managed to get a single budget passed during his 4 years, even when his party had control of a filibuster-proof Congress for his first 2 years. I know of no other president in history who was so derelict.

There are still many left-wingers on GB who play "childish, disparaging word games" (as you call it) with President G.W. Bush's name. I was no huge fan of the man, but he was the right man for the job at the time he was there. You lefties love to dish out the insults, but you cannot handle any criticism especially when it is factual.
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Vette1967
Champion Author Albany

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Message Posted: Nov 7, 2012 11:32:17 PM

Gas prices didn't go down like it should.
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ExitRamp
Champion Author Orlando

Posts:37,591
Points:3,542,940
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Message Posted: Nov 7, 2012 11:23:35 PM

Republicans brought this defeat on themselves. Whether you are gloating or sulking, facts are facts.

Yes, this was another Hobson's choice in a melting pot of people with 350 million individual agendas trying to decipher whom to vote for, from city dogcatcher to POTUS.

The biggest fact is this: In spite of the talk about heavy voting, John McCain received about 3 million MORE votes in 2008 than Romney did in 2012... that's a lot of people sitting on their vote and pouting because some trifle about the candidate didn't perfectly match their moral compass. Obama received about 10 million LESS votes in 2012 than in 2008. He could have been defeated handily.

You have been brainwashed by both the right and the left, while the so-called leaders indulge in crony capitalism and line their pockets at your expense; self-dealing, both (D) and (R.)

"Big Oil" is a lot of separate business entities. The politicians scream "TAX BIG OIL" to make you feel happy. Businesses don't pay taxes, they pass it along to the consumer. And "big oil's" profit (wait, the "obscene profit") on a gallon of gasoline is about ten¢ while various government entities collect about 42¢ in taxes on that same gallon. So the "guvammint" takes far more from the "big oil" business than "big oil."

Roe vs Wade goes back to 1974. Get used to it. Sulking at home on election day won't stop somebody from having their uterus scraped. If you insist on sex for procreation instead of recreation, keep your pants zipped and your knees together like you were taught in your youth.

You may not like the Book of Mormon, but many Christian churches of all denominations have turned into social clubs that bring covered dishes on Sunday and pay scant attention to their version of the Scriptures. Mormons tithe; they don't hire pastors, ministers or priests. Their leaders are volunteers. I could recount personal stories about pastors who weren't fit to tend to their flock but you probably have more frightening ones from your own experience.

So let's try to pull together and do the best we can during the ensuing 4 years. Most likely they will be worse than the last 4 years, with unrestrained social spending to keep the subjects happy. Grit your teeth and quietly endure at least 2 years of gridlock in the House and Senate; just make the best of it. Go on a diet of less talk shows that regurgitate what you want to hear, but whose focus is selling radio advertising. Preaching to their choir is secondary.

And consider becoming a candidate for office instead of grousing about the non-existing leadership.

Me run for office? I'm sure the research firms could find too many skeletons in my closet, so I'll champion my candidates and go into those voting booths in the even-numbered years and hope I don't have to hold my nose.

Godspeed until 2014. "ER."
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Mousebluff
Sophomore Author Washington

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Message Posted: Nov 7, 2012 10:44:30 PM

"President Barack Obama won re-election by a relatively wide margin yesterday..." Not sure I'd call 51.2% of the vote a "relatively wide margin".
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bston
Champion Author Oklahoma City

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Message Posted: Nov 7, 2012 10:14:15 PM

Gas prices will most likely increase.
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Dodge_Me
Champion Author Atlanta

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Message Posted: Nov 7, 2012 10:12:37 PM

Well said, "jrsva"
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Dodge_Me
Champion Author Atlanta

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Message Posted: Nov 7, 2012 10:11:13 PM

Yep
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jrsva
Champion Author Virginia

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Message Posted: Nov 7, 2012 10:10:41 PM

“Did Obummer really win?”
“. . . the re-election of NoBama.”
“. . . as Bozama's electoral votes!”

Wayoung, Mudsprings, N5exyand the rest of the right-wingers in GB land. President Barack Obama won re-election by a relatively wide margin yesterday. He is your president as well as mine and will be for the next 4 years. Now is the time to stop the childish, disparaging word games with his name and pay respect to the Office of the President, even if you do not like its current occupant. The time will come when someone you approve of will hold this office, at which time you will not appreciate this sort of trash talk.

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SteelPenny
Champion Author Dallas

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Message Posted: Nov 7, 2012 10:04:17 PM

Stock market dropped like a rock too.
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Alaydown
Champion Author Los Angeles

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Message Posted: Nov 7, 2012 10:03:46 PM

fuelsaverMN, it was a bad night for the USA.
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Matt G
Champion Author Boston

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Message Posted: Nov 7, 2012 10:03:41 PM

Not for long
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PrinceLH
Champion Author Ontario

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Message Posted: Nov 7, 2012 10:03:03 PM

Don't worry, he'll just not issue more drilling contracts on public land.
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N5EXY
Champion Author Austin

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Message Posted: Nov 7, 2012 10:02:47 PM

And the Dow dropped about the same number of points as Bozama's electoral votes!
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GigHarborHound
Champion Author Tacoma

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Message Posted: Nov 7, 2012 10:02:40 PM

ItsMorph has nailed it!!!!
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rahcat
Champion Author Grand Rapids

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Message Posted: Nov 7, 2012 10:02:23 PM

Won't last.
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menagerie1013
Champion Author San Diego

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Message Posted: Nov 7, 2012 10:02:02 PM

Needs to go down much more.
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ItsMorph
Champion Author Grand Rapids

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Message Posted: Nov 7, 2012 10:01:09 PM

Loadahooey.
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letterchunker
Champion Author Texas

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Message Posted: Nov 7, 2012 10:00:48 PM

It will go for holidays.
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kbierley
Champion Author Dayton

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Message Posted: Nov 7, 2012 9:58:56 PM

Then why is the price of Gas going up?
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tco9436
Champion Author Connecticut

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Message Posted: Nov 7, 2012 9:56:25 PM

Ok
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Dodge_Me
Champion Author Atlanta

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Message Posted: Nov 7, 2012 9:55:14 PM

Yes, Keep going down
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PrettyLittleLady
Champion Author Modesto

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Message Posted: Nov 7, 2012 9:54:04 PM

It was going down slowly --just before--big deal.
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Mowerman08
Champion Author Milwaukee

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Message Posted: Nov 7, 2012 9:53:33 PM

a small bump in the road at the beginning of along up hill climb.
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goodbuy
Champion Author Michigan

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Message Posted: Nov 7, 2012 9:51:28 PM

Keep going down to about $30.00 a barrel.
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Vitobug
Champion Author El Paso

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Message Posted: Nov 7, 2012 9:50:37 PM

ok
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fuelsaverMN
Champion Author Twin Cities

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Message Posted: Nov 7, 2012 9:50:27 PM

It was a baD NIGHT FOR CONSERVATIVES.
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96sc1
Champion Author El Paso

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Message Posted: Nov 7, 2012 9:50:15 PM

expansionary monetary policies is the code word for redistribution through inflation
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fuelsaverMN
Champion Author Twin Cities

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Points:559,080
Joined:Mar 2011
Message Posted: Nov 7, 2012 9:49:26 PM

That will be short lived.
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fuelsaverMN
Champion Author Twin Cities

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Joined:Mar 2011
Message Posted: Nov 7, 2012 9:47:10 PM

Yes and prices will go up because of winter fuel prices
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sehonda
Champion Author Honolulu

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Message Posted: Nov 7, 2012 9:38:34 PM

lost cause
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crmedic
Champion Author Arkansas

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Message Posted: Nov 7, 2012 9:36:24 PM

And Prices will Rise!
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dacofa
Champion Author Nevada

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Message Posted: Nov 7, 2012 9:36:20 PM

31 cents? WOOOOOOOOOOOOOOOW
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jorod55
Champion Author California

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Message Posted: Nov 7, 2012 9:34:32 PM

Yeah, the crude is dropping but the gas prices around here won't budge until next Feb. or Mar. and only a maybe at best.
Seems they always find that "EXCUSE" to keep it hanging up there.
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DEG
Champion Author Las Vegas

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Message Posted: Nov 7, 2012 9:34:30 PM

By 2016 it will probably double.
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mstearno
Champion Author Dayton

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Message Posted: Nov 7, 2012 9:34:07 PM

the point is no pipeline
no new oil jobs
we're hosed
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Lizzylou
Champion Author Stockton

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Message Posted: Nov 7, 2012 9:33:15 PM

And the point is???
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KhelbenArunson
Champion Author Michigan

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Message Posted: Nov 7, 2012 9:31:06 PM

Imagine that.
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JCS319
Champion Author Tacoma

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Message Posted: Nov 7, 2012 9:29:05 PM

Oh don't worry, the GOP will screw this up too - just like they screwed up last night's election. They had it - they so had it and they BLEW it!
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fredtheturd
Sophomore Author Kansas

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Message Posted: Nov 7, 2012 9:24:17 PM

Everything dropped after last nights events
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dave1745
Champion Author Gary

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Message Posted: Nov 7, 2012 9:23:12 PM

C
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nigelb
Champion Author Virginia

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Message Posted: Nov 7, 2012 9:22:04 PM

Mudsprings, Yes Obama won with a huge lead in the electoral vote. Get used to four more years. If Flippy Mitty had not lied about GM and Chrysler exporting US jobs to China, he might have won Ohio. Instead he doubled down on his lie and the CEO's of both companies (probably NOT Democrats) called him on his lie!
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mcmonsta
Champion Author Honolulu

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Message Posted: Nov 7, 2012 9:20:45 PM

keep it dropping
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wayoung56
Champion Author Alabama

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Message Posted: Nov 7, 2012 9:19:54 PM

Sounds like everyone in the market sector is worried about the future of the economy thanks to the re-election of NoBama...
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Mudsprings
Champion Author Fresno

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Message Posted: Nov 7, 2012 9:10:02 PM

Did Obummer really win? I just got home and didn't see any news yet.
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serrog
Champion Author Nova Scotia

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Message Posted: Nov 7, 2012 9:09:27 PM

wow
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ramshot412
Champion Author Riverside

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Message Posted: Nov 7, 2012 9:08:19 PM

I voted for America

I voted for a real energy policy that doesn't wait for big profits
I voted for my children's and grandchildren's future and yours as well
I voted for Americans to go back to work
I voted to support drilling for oil and gas, manufacturing and anything else America has left.
I voted for a man that puts America first, not profits.
I voted against a man who makes excuses for Big Oil and bows before the Almighty dollar.

The odds were stacked against me. I'm in the 47% group of families who pay taxes, and take the government dole (SSA), who worked hard and believe in God. I delayed my gratification; instead I saved and invested for the future. Now I've retired. Good Night America.
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Is246
Champion Author Albuquerque

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Message Posted: Nov 7, 2012 9:07:09 PM

Great, but it needs to keep dropping.
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