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General Motors Company Message Board

  • jeyebolt2003 jeyebolt2003 Feb 14, 2013 7:23 PM Flag

    Today Wall Street Casino Report

    RBH13.NYM RBOB Gasoline Mar 13 3.11 2:33PM EST 0.07 (2.39%)

    CLH13.NYM Crude Oil Mar 13 97.34 2:33PM EST 0.33 (0.34%

    Borrowing Gov. money speculating on Energy

    End effect will be killing the Economy

    Wholesale gasoline rose 6 cents to $3.10 a gallon.

    Crude rose sharply in early January, then began to waver between $95 and $98 per barrel, where it has stayed for the past month.

    But just as oil prices began to flatten, retail gasoline prices began to take off. The average U.S. pump price has risen every day since Jan. 18, adding 34 cents over the period. Thursday it rose a penny to $3.63, the highest ever for this time of year.

    Oil prices rose despite data showing continuing weakness in the European economy. The eurozone economy shrank by 0.6 percent in the final quarter of 2012 from the previous three-month period, more than the 0.4 percent drop expected by markets, according to Eurostat, the EU statistics office. Germany, Europe's largest economy, shrank by 0.6 percent for the period.

    Addison Armstrong, an analyst at Tradition Energy, said oil prices have remained high because investors are using the cheap credit brought on by low interest rates to invest in commodities.
    RBH13.NYM RBOB Gasoline Mar 13 3.11 2:33PM EST 0.09 (2.99%)

    CLH13.NYM Crude Oil Mar 13 97.34 2:33PM EST 0.33 (0.34%

    Borrowing Gov. money speculating on Energy

    End effect will be killing the Economy

    Wholesale gasoline rose 9 cents to $3.13 a gallon.

    Crude rose sharply in early January, then began to waver between $95 and $98 per barrel, where it has stayed for the past month.

    But just as oil prices began to flatten, retail gasoline prices began to take off. The average U.S. pump price has risen every day since Jan. 18, adding 34 cents over the period. Thursday it rose a penny to $3.63, the highest ever for this time of year.

    Oil prices rose despite data showing continuing weakness in the European economy. The eurozone economy shrank by 0.6 percent in the final quarter of 2012 from the previous three-month period, more than the 0.4 percent drop expected by markets, according to Eurostat, the EU statistics office. Germany, Europe's largest economy, shrank by 0.6 percent for the period.

    Addison Armstrong, an analyst at Tradition Energy, said oil prices have remained high because investors are using the cheap credit brought on by low interest rates to invest in commodities.

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