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OIL FUTURES:Crude Hits 8-Week High On Signs Of Improved Dema

Cattle Network -- NEW YORK (Dow Jones)--Crude futures ended at an eight-week high Wednesday, boosted by data showing tightening U.S. fuel supplies and rising demand.

Light, sweet crude for April delivery settled 60 cents, or 0.7%, higher at $82.09 a barrel on the New York Mercantile Exchange, the highest since Jan. 11. Brent crude on the ICE futures exchange was recently up 41 cents, or 0.5%, at $80.32 a barrel.

Oil rose quickly after the U.S. Energy Information Administration reported larger-than-expected drops in fuel inventories, along with a slight increase in demand for oil products.

The data offered early confirmation that the economic recovery is beginning to result in a move away from the massive surplus inventories built up during the recession. Total oil and fuel inventories are at the

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Submitted Mar 10, 2010 By: dern

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QuentD All-Star Author Georgia Posts:763 Points:494,850 Joined:Nov 2006	Message Posted: Mar 10, 2010 10:47:17 PM Ignore QuentD Report Abuse insane
Number43 Champion Author Lexington Posts:3,527 Points:682,125 Joined:Oct 2008	Message Posted: Mar 10, 2010 10:44:03 PM Ignore Number43 Report Abuse Since demand is dead, even a slight demand is an excuse to jack the price of oil up about $ 20.00 in the last two months. Oil usage is way down and prices are way up. And with midterm elections looming, there is no hope the money hungry politicians will take our side on anything.
joelimo Champion Author New York Posts:23,599 Points:1,413,600 Joined:Aug 2006	Message Posted: Mar 10, 2010 10:40:37 PM Ignore joelimo Report Abuse Ain't all this Change Wonderful?
silvolvo Sophomore Author Twin Cities Posts:244 Points:581,345 Joined:Apr 2008	Message Posted: Mar 10, 2010 10:39:11 PM Ignore silvolvo Report Abuse how much of this price is due to speculation?
mazdaboy Champion Author Portland Posts:3,032 Points:1,138,200 Joined:Aug 2003	Message Posted: Mar 10, 2010 10:37:07 PM Ignore mazdaboy Report Abuse Sorry no more cash for clunkers.
dbatw Champion Author St. Louis Posts:1,686 Points:341,165 Joined:Apr 2009	Message Posted: Mar 10, 2010 10:34:53 PM Ignore dbatw Report Abuse time to put that new gas guzzler you bought with federal money up on blocks; not so smart, are you?
judgemobile Champion Author Ohio Posts:2,766 Points:1,489,985 Joined:Nov 2005	Message Posted: Mar 10, 2010 10:31:07 PM Ignore judgemobile Report Abuse they are ready to totally devalue the almost worthless dollar and introduce that NEW NORTH AMERICAN CURRENCY (for former USA, former Canada, and former Mexico), the AMERO. Wonder what that will do to the price of oli and gas on July 1, 2010 ?
outlaw329 Champion Author Austin Posts:2,801 Points:464,845 Joined:Aug 2008	Message Posted: Mar 10, 2010 10:28:14 PM Ignore outlaw329 Report Abuse Watch out for the 8.00 per gallon they told us about last week.
signwiz Champion Author Indiana Posts:1,101 Points:939,875 Joined:Feb 2006	Message Posted: Mar 10, 2010 10:26:18 PM Ignore signwiz Report Abuse Just a whiff of demand is all it takes... just wait til there's real demand as summer begins.
ChiKid Champion Author Denver Posts:1,858 Points:517,520 Joined:Apr 2008	Message Posted: Mar 10, 2010 10:26:13 PM Ignore ChiKid Report Abuse $3 a gallon coming soon.
bozo All-Star Author Boston Posts:947 Points:1,333,770 Joined:Feb 2003	Message Posted: Mar 10, 2010 10:21:20 PM Ignore bozo Report Abuse up,up, and away.
Buddy2264 Champion Author Tampa Posts:6,626 Points:1,384,990 Joined:Oct 2005	Message Posted: Mar 10, 2010 10:18:49 PM Ignore Buddy2264 Report Abuse And so now begins the march for higher prices over the summer. Conservation keeps your money in your pocket.
Jeeputtputt All-Star Author Cincinnati Posts:721 Points:183,670 Joined:Aug 2009	Message Posted: Mar 10, 2010 10:13:24 PM Ignore Jeeputtputt Report Abuse Know what burns my a$$, A torch about this high.., ! I I I I I ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
irated1 Champion Author Detroit Posts:10,354 Points:1,404,305 Joined:Aug 2005	Message Posted: Mar 10, 2010 10:10:54 PM Ignore irated1 Report Abuse Hello summer drive season !!
Lukus Champion Author Halifax Posts:3,509 Points:713,240 Joined:Nov 2007	Message Posted: Mar 10, 2010 10:08:23 PM Ignore Lukus Report Abuse With everyone wanting to predict high prices what can we expect.
FordF2502001 Champion Author Mississippi Posts:3,083 Points:669,100 Joined:Sep 2008	Message Posted: Mar 10, 2010 10:05:18 PM Ignore FordF2502001 Report Abuse HEre we go again. Can we say alternatives?
DellMan Champion Author Omaha Posts:1,917 Points:442,925 Joined:Apr 2008	Message Posted: Mar 10, 2010 10:05:11 PM Ignore DellMan Report Abuse I hope those of you who voted to big the Democrats full control remember this when it comes election time this November. The more Obama and his people push health care and Cap & Tax the higher oil goes and as oil goes so does gas. Obama is trying his best to get gas prices back up to $4 a gallon or higher. Don't believe a word he says about trying to help the economy. As his Chief of Staff Rohm Emanuel said early on, "A crisis is a terrible thing to waste". They are causing problems so they can bring in their ideas under the guise of helping us.
npt Sophomore Author Raleigh Posts:140 Points:35,795 Joined:Oct 2009	Message Posted: Mar 10, 2010 10:03:06 PM Ignore npt Report Abuse Consume less, price will go down.
captainkettel Sophomore Author Washington Posts:169 Points:793,270 Joined:Jul 2005	Message Posted: Mar 10, 2010 10:00:36 PM Ignore captainkettel Report Abuse Bend over! Here they come again. Aren't you all tired of taking it in the shorts and making Big Oil and the speculators rich...this sucks! You know who can keep the CHANGE!!! [Edited by: captainkettel at 3/10/2010 11:01:21 PM EST]
Bonito Champion Author Dayton Posts:10,237 Points:2,043,270 Joined:Jun 2004	Message Posted: Mar 10, 2010 9:57:13 PM Ignore Bonito Report Abuse I guess they are telling us that we are going to get raped again and we should feel good about it! Crap -- Let them swim in their oil and get me a solar panel on my truck with a hydrogen engine!
altima2008 Champion Author Philadelphia Posts:3,254 Points:770,035 Joined:Apr 2008	Message Posted: Mar 10, 2010 9:52:16 PM Ignore altima2008 Report Abuse Right on the money ogw. The less you drive they will produce even less. All you namby pambys who thought conserving is the answer bet ya don't feel that way now!
CarrottopNe Champion Author Lincoln Posts:1,025 Points:367,365 Joined:Jan 2009	Message Posted: Mar 10, 2010 9:44:57 PM Ignore CarrottopNe Report Abuse We're going for a ride alright. Gas prices going up,up,up.
OGW Champion Author London Posts:1,356 Points:671,940 Joined:Sep 2005	Message Posted: Mar 10, 2010 9:43:03 PM Ignore OGW Report Abuse Much of the shortage of supply was created as they have not been producing as much and forcing inventories down. Even if sales have increased slightly, they have not been keeping the inventories at normal levels so they can force up the price.
mstearno Champion Author Dayton Posts:3,596 Points:798,315 Joined:Jan 2008	Message Posted: Mar 10, 2010 9:40:45 PM Ignore mstearno Report Abuse buckle up we're going for a ride