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Oil hits 18-month low as stockpiles rise, Fed disappoints

Reuters --
(Reuters) - World oil prices tumbled more than 3 percent on Wednesday to their lowest in a year and a half, as data showed U.S. crude inventories unexpectedly swelled and investors were disappointed at measures the Federal Reserve announced to aid the economy.

Oil, equities and other risky assets vacillated after the Fed statement, first falling on the absence of more aggressive easing measures, then rallying on hope that an extension of Operation Twist -- an effort to depress borrowing costs by selling short-term bonds to buy longer-dated ones -- might help.

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Submitted Jun 21, 2012 By: Hwy_Boy

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DanMtz Champion Author Oakland Posts:3,355 Points:1,243,325 Joined:Oct 2009	Message Posted: Jun 21, 2012 8:18:36 PM Ignore DanMtz Report Abuse Some good news at least.
TXryder Champion Author Texas Posts:2,709 Points:432,730 Joined:Jan 2012	Message Posted: Jun 21, 2012 2:36:25 PM Ignore TXryder Report Abuse de-corupt the gov and maybe it will mean something.
Ticoman54 Champion Author Miami Posts:7,041 Points:1,491,795 Joined:Oct 2008	Message Posted: Jun 21, 2012 9:43:04 AM Ignore Ticoman54 Report Abuse Still not enough. We have had a horrible economy for the past 4 years and yet under Obama's watch, gas prices have doubled. If anyone cares to remember, gas prices were averaging around $1.72 when Obama took office. Where are they today after a 50 cent decrease? I'm tired of being ripped off!!! Vote No Obama in 2012!!!
blupupher Champion Author Houston Posts:3,550 Points:748,045 Joined:Feb 2011	Message Posted: Jun 21, 2012 7:40:27 AM Ignore blupupher Report Abuse so when will we see sub $2 gasoline?
johntxx Champion Author Texas Posts:2,784 Points:616,320 Joined:Aug 2011	Message Posted: Jun 21, 2012 7:29:45 AM Ignore johntxx Report Abuse The price has almost corrected into the acceptable range, $70-$80/bbl--keep falling.
matman01 Champion Author Detroit Posts:14,838 Points:1,960,835 Joined:May 2007	Message Posted: Jun 21, 2012 6:54:36 AM Ignore matman01 Report Abuse I hope that the speculators take it on the chin with this one.
ReddevilNO Champion Author New Orleans Posts:3,371 Points:581,190 Joined:Aug 2011	Message Posted: Jun 21, 2012 6:43:40 AM Ignore ReddevilNO Report Abuse Ok.
MImusicman Champion Author Michigan Posts:1,873 Points:407,675 Joined:Mar 2012	Message Posted: Jun 21, 2012 6:05:07 AM Ignore MImusicman Report Abuse Hope the prices continue to fall at the pump.
Alaydown Champion Author Los Angeles Posts:5,116 Points:822,645 Joined:May 2007	Message Posted: Jun 21, 2012 4:02:55 AM Ignore Alaydown Report Abuse Summer just started, so there is plenty of time until Labor Day for the price to go back up.
abacus44 Champion Author Toms River Posts:3,480 Points:747,740 Joined:Jan 2011	Message Posted: Jun 21, 2012 3:49:25 AM Ignore abacus44 Report Abuse OK
computernut2008 Champion Author Ohio Posts:6,573 Points:1,350,365 Joined:Oct 2008	Message Posted: Jun 21, 2012 3:45:50 AM Ignore computernut2008 Report Abuse ok
jcurley Champion Author California Posts:7,900 Points:1,775,185 Joined:Dec 2007	Message Posted: Jun 21, 2012 3:43:29 AM Ignore jcurley Report Abuse Can we just have one story on oil prices, rather than three?
Buddy2264 Champion Author Tampa Posts:11,654 Points:2,359,970 Joined:Oct 2005	Message Posted: Jun 21, 2012 3:42:59 AM Ignore Buddy2264 Report Abuse We always get to pay more as we continue to use less. In time we will switch from oil, as many may have already done and getting better MPG to use less. Conservation keeps your money in your pocket.
joko0 Champion Author New Jersey Posts:1,970 Points:565,615 Joined:Oct 2008	Message Posted: Jun 21, 2012 3:42:35 AM Ignore joko0 Report Abuse Keep going!
Pozole Champion Author Portland Posts:9,597 Points:1,594,520 Joined:Mar 2005	Message Posted: Jun 21, 2012 3:41:20 AM Ignore Pozole Report Abuse ...and pig oil continues to rake in big $$$$$$ and hose the American public...
wilbur_gas Champion Author Los Angeles Posts:1,702 Points:647,110 Joined:Mar 2011	Message Posted: Jun 21, 2012 3:39:56 AM Ignore wilbur_gas Report Abuse Ineresting.
JagXKR Champion Author British Columbia Posts:3,159 Points:1,091,380 Joined:Dec 2009	Message Posted: Jun 21, 2012 3:37:50 AM Ignore JagXKR Report Abuse I hope it stays there, or lower, all summer.
streetcars Champion Author Toledo Posts:12,264 Points:2,606,640 Joined:Apr 2005	Message Posted: Jun 21, 2012 3:34:01 AM Ignore streetcars Report Abuse good news
SteveMartin Champion Author New Orleans Posts:4,428 Points:885,415 Joined:May 2008	Message Posted: Jun 21, 2012 3:33:51 AM Ignore SteveMartin Report Abuse Good
speedys Champion Author Utah Posts:7,015 Points:2,558,845 Joined:Nov 2005	Message Posted: Jun 21, 2012 3:31:55 AM Ignore speedys Report Abuse Refiners need to lower their prices.
thuathienhue Champion Author Michigan Posts:3,448 Points:633,340 Joined:Jul 2011	Message Posted: Jun 21, 2012 3:30:18 AM Ignore thuathienhue Report Abuse Okay
dslxcur Champion Author Seattle Posts:1,983 Points:1,525,500 Joined:Sep 2007	Message Posted: Jun 21, 2012 3:28:30 AM Ignore dslxcur Report Abuse Dang!.................................. No Happy Marriage Here! ...................................... Someone is Taking More Than Giving..................................
HIDDEN_DEATH Champion Author Boise Posts:1,372 Points:355,415 Joined:May 2011	Message Posted: Jun 21, 2012 3:28:00 AM Ignore HIDDEN_DEATH Report Abuse ok
lgwhitlock Champion Author Chico Posts:7,385 Points:1,685,495 Joined:Jun 2008	Message Posted: Jun 21, 2012 3:24:09 AM Ignore lgwhitlock Report Abuse To much speculation (gambling) in the markets is a big part of the economic problems we face...
OaklandInvaders Champion Author San Jose Posts:2,351 Points:568,255 Joined:Jul 2011	Message Posted: Jun 21, 2012 3:21:55 AM Ignore OaklandInvaders Report Abuse Ok give n take.
hybridaholic Champion Author Appleton Posts:8,365 Points:1,556,565 Joined:Dec 2008	Message Posted: Jun 21, 2012 3:17:36 AM Ignore hybridaholic Report Abuse Agree with you HA4CNN.
Sneakers55 Champion Author Houston Posts:51,301 Points:2,143,925 Joined:Nov 2005	Message Posted: Jun 21, 2012 3:15:49 AM Ignore Sneakers55 Report Abuse On Jun 21, 2012 1:54:49 AM, pepinoNC wrote: >The right wing media promised us $5 gas this summer, >what happened? They were expecting the February and March curves to carry through the rest of the year.
blk911 Champion Author Colorado Springs Posts:2,923 Points:771,115 Joined:Nov 2004	Message Posted: Jun 21, 2012 3:13:58 AM Ignore blk911 Report Abuse Gas prices haven't.
HA4CNN Champion Author Toronto Posts:5,624 Points:1,543,390 Joined:Dec 2006	Message Posted: Jun 21, 2012 3:13:53 AM Ignore HA4CNN Report Abuse The refiners are out of touch with reality and they need to drop the price of all refined fuels to be inline with oil.
BlkynB Champion Author San Diego Posts:19,237 Points:2,406,540 Joined:Feb 2006	Message Posted: Jun 21, 2012 3:11:14 AM Ignore BlkynB Report Abuse the economy is in the toilet, the worse it gets the lower the gas prices will go. Not so good if you don't have the money to buy gas. .
runner74 Champion Author Washington Posts:2,704 Points:568,240 Joined:Jun 2011	Message Posted: Jun 21, 2012 3:09:39 AM Ignore runner74 Report Abuse ok
findcheap Champion Author Los Angeles Posts:9,597 Points:2,009,875 Joined:Apr 2007	Message Posted: Jun 21, 2012 3:09:23 AM Ignore findcheap Report Abuse expected
pepinoNC Champion Author Raleigh Posts:2,154 Points:658,790 Joined:May 2011	Message Posted: Jun 21, 2012 2:54:49 AM Ignore pepinoNC Report Abuse The right wing media promised us $5 gas this summer, what happened?
gass12 Champion Author Omaha Posts:8,394 Points:2,304,690 Joined:Oct 2005	Message Posted: Jun 21, 2012 2:52:41 AM Ignore gass12 Report Abuse Gas should be $2.99 a gallon.
gamalerin Champion Author Tampa Posts:4,752 Points:993,510 Joined:Jul 2010	Message Posted: Jun 21, 2012 2:51:26 AM Ignore gamalerin Report Abuse The price should drop more
charladan All-Star Author Virginia Posts:564 Points:448,890 Joined:Jun 2011	Message Posted: Jun 21, 2012 2:48:41 AM Ignore charladan Report Abuse where are the people complaining about the speculators
pachukdog1 Champion Author Pensacola Posts:1,747 Points:377,500 Joined:Jan 2012	Message Posted: Jun 21, 2012 2:48:19 AM Ignore pachukdog1 Report Abuse too bad gas hasnt
vulcan96 Champion Author Ohio Posts:26,916 Points:3,103,675 Joined:Aug 2004	Message Posted: Jun 21, 2012 2:44:49 AM Ignore vulcan96 Report Abuse Good. Oil prices need to keep dropping NO, GAS prices need to drop like a lead baloon....
HYEgasCA Champion Author Fresno Posts:2,111 Points:910,750 Joined:Dec 2008	Message Posted: Jun 21, 2012 2:44:20 AM Ignore HYEgasCA Report Abuse good
Happytalk Champion Author Pennsylvania Posts:2,135 Points:577,865 Joined:May 2010	Message Posted: Jun 21, 2012 2:41:56 AM Ignore Happytalk Report Abuse it needs to keep getting lower
hubcapLA Champion Author Louisiana Posts:3,905 Points:940,435 Joined:Apr 2009	Message Posted: Jun 21, 2012 2:40:31 AM Ignore hubcapLA Report Abuse Obozo doesn't want low prices, remember?
Gas Thirsty Champion Author Los Angeles Posts:4,877 Points:3,228,570 Joined:Mar 2003	Message Posted: Jun 21, 2012 2:38:39 AM Ignore Gas Thirsty Report Abuse Good. Keep dropping.
bcok Champion Author Los Angeles Posts:2,126 Points:1,544,495 Joined:Oct 2005	Message Posted: Jun 21, 2012 2:38:12 AM Ignore bcok Report Abuse keep it low.
CiVX Champion Author Oakland Posts:7,055 Points:1,359,610 Joined:Feb 2009	Message Posted: Jun 21, 2012 2:37:37 AM Ignore CiVX Report Abuse Ya; whats next?
billy44bo Champion Author Mobile Posts:7,207 Points:1,490,870 Joined:Feb 2008	Message Posted: Jun 21, 2012 2:34:27 AM Ignore billy44bo Report Abuse still no low enough for barry to stay in office
q2 Champion Author Alberta Posts:2,034 Points:380,095 Joined:Nov 2008	Message Posted: Jun 21, 2012 2:28:19 AM Ignore q2 Report Abuse And we still are getting screwed at the pumps over $5 a gallon.
jellybelly72 Veteran Author San Bernardino Posts:452 Points:300,925 Joined:Jul 2011	Message Posted: Jun 21, 2012 2:23:38 AM Ignore jellybelly72 Report Abuse That is good news. I won't be happy until the prices drop a whole lot more and the oil companies stop making so much profit.
rockmbike Rookie Author Ohio Posts:36 Points:26,600 Joined:Jan 2011	Message Posted: Jun 21, 2012 2:23:15 AM Ignore rockmbike Report Abuse buy now
humblepie Champion Author Toledo Posts:34,223 Points:2,371,370 Joined:Mar 2006	Message Posted: Jun 21, 2012 2:21:58 AM Ignore humblepie Report Abuse what about peak oil ?????????????????
chillyman3 Champion Author Illinois Posts:1,355 Points:424,390 Joined:Jan 2012	Message Posted: Jun 21, 2012 2:21:51 AM Ignore chillyman3 Report Abuse why aren't they falling faster????