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Oil Trades Near Two-Day High in New York on Retail Sales

Bloomberg -- Oil traded near the highest close in two days in New York after a bigger-than-projected gain in retail sales boosted speculation that a recovering U.S. economy may bolster fuel demand in the world’s biggest crude consumer.

Futures were little changed after rising for the third time in four days yesterday. Retail sales climbed 0.8 percent in March, Commerce Department data showed, compared with a median forecast of 0.3 percent in a Bloomberg News survey. The spread between London-traded Brent oil and New York prices narrowed to the lowest in seven weeks after the Seaway pipeline partners said they would reverse its flow earlier than previously planned, helping reduce a supply glut.

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Submitted Apr 17, 2012 By: Mudsprings

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glorioussnookie Champion Author Tennessee Posts:3,761 Points:699,370 Joined:Feb 2010	Message Posted: Apr 17, 2012 10:51:31 AM Ignore glorioussnookie Report Abuse Here we go again! Just when gas dropped a whopping penny a gallon here yesterday! Now it will go up 10 cents a gallon!
58salty Champion Author Jacksonville Posts:6,662 Points:632,815 Joined:Aug 2011	Message Posted: Apr 17, 2012 10:44:01 AM Ignore 58salty Report Abuse whatever
A2J Champion Author Richmond Posts:3,090 Points:605,875 Joined:Aug 2011	Message Posted: Apr 17, 2012 9:44:44 AM Ignore A2J Report Abuse Again ?
lsb1955 Champion Author Salt Lake City Posts:2,043 Points:522,495 Joined:Aug 2011	Message Posted: Apr 17, 2012 8:27:31 AM Ignore lsb1955 Report Abuse going the wrong way
investmentdr Champion Author Cleveland Posts:4,039 Points:1,457,750 Joined:Sep 2008	Message Posted: Apr 17, 2012 8:26:29 AM Ignore investmentdr Report Abuse BUT, gasoline declined 2.8% yesterday
northeast2 Champion Author New York Posts:3,849 Points:1,007,200 Joined:Mar 2008	Message Posted: Apr 17, 2012 8:05:40 AM Ignore northeast2 Report Abuse "Oil traded near the highest close in two days in New York after a bigger-than-projected gain in retail sales boosted speculation that a recovering U.S. economy may bolster fuel demand in the world’s biggest crude consumer." A) speculation must be halted B) we must reduce demand
bluestang96 Veteran Author Ohio Posts:268 Points:107,865 Joined:Mar 2012	Message Posted: Apr 17, 2012 7:51:26 AM Ignore bluestang96 Report Abuse nice
335d1 Champion Author Virginia Posts:2,396 Points:761,970 Joined:Feb 2011	Message Posted: Apr 17, 2012 6:54:57 AM Ignore 335d1 Report Abuse Retail sales go up, gas prices go up. Retails sales go down, gas prices go up.
ReddevilNO Champion Author New Orleans Posts:3,386 Points:583,740 Joined:Aug 2011	Message Posted: Apr 17, 2012 6:48:15 AM Ignore ReddevilNO Report Abuse OMG!!!!
pscamp Champion Author Ottawa Posts:3,299 Points:477,910 Joined:May 2011	Message Posted: Apr 17, 2012 6:08:20 AM Ignore pscamp Report Abuse blah blah blah
afghaned Champion Author Hamilton Posts:11,836 Points:1,289,060 Joined:May 2004	Message Posted: Apr 17, 2012 5:18:15 AM Ignore afghaned Report Abuse People buying their summer wardrobe. Any excuse to raise prices!!!
MN1 Champion Author Twin Cities Posts:3,374 Points:653,515 Joined:Jun 2011	Message Posted: Apr 17, 2012 4:43:39 AM Ignore MN1 Report Abuse Here we go, just in time for summer travel.
WalRus49 Champion Author Boston Posts:4,090 Points:871,790 Joined:Nov 2010	Message Posted: Apr 17, 2012 4:30:11 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage...........
2bigtanks All-Star Author Akron Posts:772 Points:371,610 Joined:Jun 2011	Message Posted: Apr 17, 2012 2:22:14 AM Ignore 2bigtanks Report Abuse OK
SparkieMi Champion Author Kalamazoo Posts:3,277 Points:591,330 Joined:Sep 2011	Message Posted: Apr 17, 2012 1:57:11 AM Ignore SparkieMi Report Abuse Still a long ways to go...
NOTSOGRN Champion Author Michigan Posts:2,059 Points:1,514,050 Joined:Dec 2007	Message Posted: Apr 17, 2012 1:56:30 AM Ignore NOTSOGRN Report Abuse . . Even better NO more Mr.O ever ever AGAIN. . Mr.O is a real 0. [Edited by: NOTSOGRN at 4/17/2012 1:58:07 AM EST]
NOTSOGRN Champion Author Michigan Posts:2,059 Points:1,514,050 Joined:Dec 2007	Message Posted: Apr 17, 2012 1:55:21 AM Ignore NOTSOGRN Report Abuse . . Gee didn't I just read somewhere it's to volatile to predict...
bcok Champion Author Los Angeles Posts:2,131 Points:1,545,470 Joined:Oct 2005	Message Posted: Apr 17, 2012 1:55:20 AM Ignore bcok Report Abuse Bush syndrome is hitting us. Never again, no Bush/like politicians.
TBONE3 Champion Author Pennsylvania Posts:8,761 Points:1,979,575 Joined:Mar 2005	Message Posted: Apr 17, 2012 1:48:56 AM Ignore TBONE3 Report Abuse Just part of the way things go.
BJWI Champion Author Milwaukee Posts:6,426 Points:739,250 Joined:May 2011	Message Posted: Apr 17, 2012 1:48:04 AM Ignore BJWI Report Abuse $6.00 a gallon, do I hear $7.00? I still blame Bush .... LOL
kcboy Champion Author Utah Posts:3,983 Points:1,510,725 Joined:Jun 2005	Message Posted: Apr 17, 2012 1:47:00 AM Ignore kcboy Report Abuse ok
themaninthehat Champion Author New Orleans Posts:1,824 Points:472,265 Joined:Feb 2011	Message Posted: Apr 17, 2012 1:46:21 AM Ignore themaninthehat Report Abuse Vote tea-publicans out on 6 November 2012 Re-elect the President and take America back in the right direction begun on 4 November 2008.
dave12 Champion Author Twin Cities Posts:3,111 Points:1,838,165 Joined:Nov 2005	Message Posted: Apr 17, 2012 1:43:36 AM Ignore dave12 Report Abuse VOTE him out Nov, 6th 2012, ELECTION DAY!
hybridaholic Champion Author Appleton Posts:8,380 Points:1,559,490 Joined:Dec 2008	Message Posted: Apr 17, 2012 1:42:42 AM Ignore hybridaholic Report Abuse More speculation.
dave12 Champion Author Twin Cities Posts:3,111 Points:1,838,165 Joined:Nov 2005	Message Posted: Apr 17, 2012 1:42:40 AM Ignore dave12 Report Abuse To drive Orectum out of office!
GigHarborHound Champion Author Tacoma Posts:2,552 Points:491,415 Joined:Sep 2011	Message Posted: Apr 17, 2012 1:42:26 AM Ignore GigHarborHound Report Abuse What recovery are they talkng about??
dave12 Champion Author Twin Cities Posts:3,111 Points:1,838,165 Joined:Nov 2005	Message Posted: Apr 17, 2012 1:42:06 AM Ignore dave12 Report Abuse I hope it keeps going up $6- $7- a gallon what ever it takes!
southrob Champion Author Tucson Posts:3,615 Points:691,100 Joined:Mar 2011	Message Posted: Apr 17, 2012 1:41:38 AM Ignore southrob Report Abuse not surprised.. getting close to summer
computernut2008 Champion Author Ohio Posts:6,588 Points:1,353,290 Joined:Oct 2008	Message Posted: Apr 17, 2012 1:41:10 AM Ignore computernut2008 Report Abuse ok
yonasb Champion Author Houston Posts:3,463 Points:740,625 Joined:Apr 2011	Message Posted: Apr 17, 2012 1:40:55 AM Ignore yonasb Report Abuse Ok
dave12 Champion Author Twin Cities Posts:3,111 Points:1,838,165 Joined:Nov 2005	Message Posted: Apr 17, 2012 1:40:17 AM Ignore dave12 Report Abuse I love EXXON and big oil!
gasandgoAL Champion Author Alabama Posts:7,166 Points:1,592,590 Joined:Sep 2008	Message Posted: Apr 17, 2012 1:39:58 AM Ignore gasandgoAL Report Abuse unemployment up, price of food up, where is the economy better?
dave12 Champion Author Twin Cities Posts:3,111 Points:1,838,165 Joined:Nov 2005	Message Posted: Apr 17, 2012 1:39:38 AM Ignore dave12 Report Abuse I hope it keeps going up too!
jimgraham Champion Author Akron Posts:10,387 Points:1,982,885 Joined:Oct 2007	Message Posted: Apr 17, 2012 1:38:53 AM Ignore jimgraham Report Abuse Come on $6+ gas. Let the revolution begin.
bobdec Champion Author Miami Posts:8,979 Points:1,772,745 Joined:May 2008	Message Posted: Apr 17, 2012 1:37:29 AM Ignore bobdec Report Abuse No one should be surprised
BobD2009 Champion Author Long Island Posts:7,004 Points:1,242,710 Joined:Apr 2009	Message Posted: Apr 17, 2012 1:37:28 AM Ignore BobD2009 Report Abuse The road to $6 a gallon.
SBlouch Champion Author San Antonio Posts:8,745 Points:1,862,190 Joined:Apr 2007	Message Posted: Apr 17, 2012 1:34:04 AM Ignore SBlouch Report Abuse Not what we want to hear right before our income taxes are due.
gass12 Champion Author Omaha Posts:8,404 Points:2,306,640 Joined:Oct 2005	Message Posted: Apr 17, 2012 1:31:42 AM Ignore gass12 Report Abuse Gas will drop.
roadrunnerMO Champion Author Kansas Posts:8,421 Points:1,702,390 Joined:Jul 2008	Message Posted: Apr 17, 2012 1:29:17 AM Ignore roadrunnerMO Report Abuse If you say so. Was down most of day.
jalan25 Champion Author Indianapolis Posts:2,350 Points:573,645 Joined:Sep 2011	Message Posted: Apr 17, 2012 1:28:42 AM Ignore jalan25 Report Abuse I'm glad the pipeline partners are "helping reduce a supply glut" since prices have gotten so cheap. Not!
agr964 All-Star Author Fresno Posts:623 Points:71,370 Joined:Aug 2008	Message Posted: Apr 17, 2012 1:27:27 AM Ignore agr964 Report Abuse Here's some news for you speculators (AKA Scum) out there: Nothing is going to bolster fuel demand until it stops being absurdly expensive. You should be noticing this with demand going down week after week after week as you continue to ignore reality and blindly drive up prices filling your pockets by stealing from everyone else. I hope the price of oil crashes and you lose everything. Thank you and have a nice day. [Edited by: agr964 at 4/17/2012 1:32:34 AM EST]
esquared Champion Author Oklahoma City Posts:8,082 Points:1,973,035 Joined:Jan 2006	Message Posted: Apr 17, 2012 1:26:18 AM Ignore esquared Report Abuse Conserve, baby, conserve!
anascom Champion Author Hamilton Posts:1,593 Points:553,115 Joined:Feb 2011	Message Posted: Apr 17, 2012 1:19:12 AM Ignore anascom Report Abuse nothing new!
jtfftj Champion Author New Hampshire Posts:2,182 Points:1,250,925 Joined:Sep 2005	Message Posted: Apr 17, 2012 1:17:26 AM Ignore jtfftj Report Abuse Yesterday, two day low, now two day high. Just newsprint being wasted.
gougenator Champion Author Dallas Posts:29,878 Points:3,247,850 Joined:Aug 2003	Message Posted: Apr 17, 2012 1:15:37 AM Ignore gougenator Report Abuse Oil traded near the highest close in two days in New York after a bigger-than-projected gain in retail sales boosted speculation ....... speculators are at it again!
Wizrd03 Champion Author Illinois Posts:8,167 Points:1,635,260 Joined:Oct 2008	Message Posted: Apr 17, 2012 1:15:11 AM Ignore Wizrd03 Report Abuse not good
Ron77095 Champion Author Houston Posts:3,075 Points:605,600 Joined:Sep 2011	Message Posted: Apr 17, 2012 1:13:46 AM Ignore Ron77095 Report Abuse Ugh!
KhelbenArunson Champion Author Michigan Posts:4,461 Points:720,790 Joined:Apr 2008	Message Posted: Apr 17, 2012 1:13:30 AM Ignore KhelbenArunson Report Abuse Good, I hope it goes into free fall.
Bill100 Champion Author Grand Rapids Posts:41,514 Points:1,165,770 Joined:Jan 2010	Message Posted: Apr 17, 2012 1:13:27 AM Ignore Bill100 Report Abuse News of the minute. Stay tuned for changes.
tasha88CA All-Star Author California Posts:602 Points:43,315 Joined:Mar 2012	Message Posted: Apr 17, 2012 1:13:19 AM Ignore tasha88CA Report Abuse k