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Crude Oil Settles up on Hope of Fed Stimulus

Downstream Today -- Crude oil futures prices rose 1.6% Thursday, settling near $84 a barrel, amid fresh hopes of a new move by the Federal Reserve to stimulate the U.S. economy.

Oil prices recovered from eight-month lows and day earlier, moving higher in line with equities, after the Labor Department said the U.S. consumer price index fell in May for the first time in two years and that new jobless claims rose for fifth of last six weeks.

Phil Flynn, oil analyst at Price Futures Group, said, taken together, the latest data "seems to be begging for more" economic stimulus moves by the Fed, which he said, would pump up oil prices.

Fed Chairman Ben Bernanke said last week the central bank was "prepared to take action" if the economy deteriorates, given the "subdued" inflation outlook.

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Submitted Jun 16, 2012 By: GasPasserAB

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honda0105 Champion Author Tallahassee Posts:18,570 Points:1,604,545 Joined:Nov 2008	Message Posted: Jun 19, 2012 5:56:52 AM Ignore honda0105 Report Abuse another opinion piece. Speculation at its best.
remay Champion Author Houston Posts:6,943 Points:2,112,640 Joined:May 2006	Message Posted: Jun 17, 2012 10:38:35 AM Ignore remay Report Abuse snapshot article on speculation...
Blismo Champion Author Arizona Posts:2,114 Points:399,260 Joined:Feb 2012	Message Posted: Jun 17, 2012 5:22:57 AM Ignore Blismo Report Abuse ok
jetskijerry Champion Author North Carolina Posts:3,876 Points:768,270 Joined:Mar 2011	Message Posted: Jun 17, 2012 12:06:41 AM Ignore jetskijerry Report Abuse up & down
nru Champion Author Twin Cities Posts:1,714 Points:978,700 Joined:Feb 2006	Message Posted: Jun 17, 2012 12:03:45 AM Ignore nru Report Abuse stimulus = print money, inflate the price of gas, no real effect on productivity. Gee, i'll sell you a salt shaker for a buck, you sell it back to me for two, and so on - we generate economic activity, make the salt shaker worth a ton, and then give it to the bank, when they realize they have a 10 cent piece, we bail them out.
coughlin Champion Author San Jose Posts:5,160 Points:1,112,890 Joined:Sep 2009	Message Posted: Jun 16, 2012 6:58:15 PM Ignore coughlin Report Abuse Let's hope for a stimulus.
91Hilux Champion Author New Haven Posts:2,142 Points:676,720 Joined:Aug 2007	Message Posted: Jun 16, 2012 5:05:20 PM Ignore 91Hilux Report Abuse Frist: The Futures Acts of 1999 and 2000 need to be repealed. Second: Speculators should be jailed for manipulating the market and ultimately ripping off consumers. Third: The Fed shouldn't be stimulating a company making over as BILLION dollars a day.
trytogetby All-Star Author Cincinnati Posts:864 Points:214,000 Joined:Apr 2012	Message Posted: Jun 16, 2012 4:11:33 PM Ignore trytogetby Report Abuse What BS.
bwatchingu Champion Author Arkansas Posts:1,725 Points:596,745 Joined:Jan 2009	Message Posted: Jun 16, 2012 2:28:28 PM Ignore bwatchingu Report Abuse Too much government
58salty Champion Author Jacksonville Posts:6,588 Points:625,890 Joined:Aug 2011	Message Posted: Jun 16, 2012 1:34:55 PM Ignore 58salty Report Abuse The first time it was at $84 a barrel compared to now I would say something is WAY off. I'm thinking they need to cut about $1.50 off the price to get it right. At least ease the pain.
kirzon484 Champion Author Atlanta Posts:1,841 Points:428,310 Joined:Jun 2011	Message Posted: Jun 16, 2012 12:05:30 PM Ignore kirzon484 Report Abuse oil at $84 bucks a barrel and gas is STILL over $3 a gallon. makes you wonder doesnt it?
Alaydown Champion Author Los Angeles Posts:5,093 Points:819,320 Joined:May 2007	Message Posted: Jun 16, 2012 11:51:18 AM Ignore Alaydown Report Abuse Let us HOPE that we will CHANGE presidents after the November election.
my2002m Champion Author Tulsa Posts:6,049 Points:1,665,325 Joined:Jul 2008	Message Posted: Jun 16, 2012 10:46:03 AM Ignore my2002m Report Abuse Would be nice if oil stabilized for a while instead.
sljbc475 Champion Author Tucson Posts:4,195 Points:867,400 Joined:Dec 2010	Message Posted: Jun 16, 2012 10:37:25 AM Ignore sljbc475 Report Abuse Oil prices need to either stabilize or continue to go down but not up.
neptune2008 Champion Author Michigan Posts:8,552 Points:1,664,955 Joined:Aug 2008	Message Posted: Jun 16, 2012 10:33:13 AM Ignore neptune2008 Report Abuse " H O P E "
cssco Champion Author Virginia Posts:7,301 Points:1,746,555 Joined:Feb 2006	Message Posted: Jun 16, 2012 10:08:35 AM Ignore cssco Report Abuse With heating oil at $2.6278 it is a good thing this is June.
cmsense Champion Author Columbus Posts:1,358 Points:165,345 Joined:Jan 2012	Message Posted: Jun 16, 2012 10:02:39 AM Ignore cmsense Report Abuse If tax cuts stimulated jobs and the economy we'd be butt deep in the same, since that's all Republicans have done for this economy for the past decade.
5Golfer8 Champion Author Tucson Posts:2,123 Points:297,625 Joined:Jun 2011	Message Posted: Jun 16, 2012 9:59:40 AM Ignore 5Golfer8 Report Abuse Any excuse and fuel prices are still too high!
Badmoon Champion Author Massachusetts Posts:8,283 Points:1,646,515 Joined:Oct 2008	Message Posted: Jun 16, 2012 9:59:05 AM Ignore Badmoon Report Abuse Higher oil/gas prices on the hopes of more stimulus???
mberg Champion Author Houston Posts:3,782 Points:955,505 Joined:Aug 2010	Message Posted: Jun 16, 2012 9:58:55 AM Ignore mberg Report Abuse Reading the various posts here, we sure don't think alike as a group.
altima2008 Champion Author Philadelphia Posts:8,140 Points:1,733,015 Joined:Apr 2008	Message Posted: Jun 16, 2012 9:56:32 AM Ignore altima2008 Report Abuse Where is the American peoples stimulus package?
cmsense Champion Author Columbus Posts:1,358 Points:165,345 Joined:Jan 2012	Message Posted: Jun 16, 2012 9:55:55 AM Ignore cmsense Report Abuse Won't get any stimulus through a knuckle dragging obstructionist Republican House, besides they've set an agenda for the past 31/2 years to stifle the economy.Vote them out in NOV.
car253 Champion Author Ohio Posts:6,273 Points:1,464,620 Joined:Oct 2008	Message Posted: Jun 16, 2012 9:55:13 AM Ignore car253 Report Abuse I hope not.
craigsf38 Champion Author Rochester Posts:5,688 Points:1,506,030 Joined:Jun 2008	Message Posted: Jun 16, 2012 9:54:55 AM Ignore craigsf38 Report Abuse NO MORE STIMULAS
WTLITNG Champion Author Virginia Posts:1,829 Points:1,010,220 Joined:Dec 2008	Message Posted: Jun 16, 2012 9:54:34 AM Ignore WTLITNG Report Abuse Going to Bernanke for advice is like me telling a brain surgeon how to operate.
fordfan1 Champion Author Indiana Posts:9,067 Points:1,886,040 Joined:Jul 2007	Message Posted: Jun 16, 2012 9:53:02 AM Ignore fordfan1 Report Abuse No more stimulus's!!!!!!
Rick52 Champion Author Milwaukee Posts:12,007 Points:1,194,645 Joined:Mar 2005	Message Posted: Jun 16, 2012 9:52:41 AM Ignore Rick52 Report Abuse What a joke...Oil up because of this ??? Why not help to keep them down to stimulate the Economy.. Maybe ,just maybe people will spend more on other things..
vincentV All-Star Author Toronto Posts:652 Points:137,305 Joined:Oct 2010	Message Posted: Jun 16, 2012 9:52:33 AM Ignore vincentV Report Abuse wow
TerryLee Champion Author Ohio Posts:14,600 Points:2,790,150 Joined:Mar 2004	Message Posted: Jun 16, 2012 9:52:29 AM Ignore TerryLee Report Abuse more of our money will be wasted by Obama
BillHeatherL Champion Author Alberta Posts:7,622 Points:1,920,630 Joined:Apr 2007	Message Posted: Jun 16, 2012 9:52:17 AM Ignore BillHeatherL Report Abuse oil prices have dropped but gas prices remain up
RADIOCANADA499 Champion Author Ontario Posts:2,311 Points:771,955 Joined:Aug 2005	Message Posted: Jun 16, 2012 9:51:22 AM Ignore RADIOCANADA499 Report Abuse ok
jeff95519 Champion Author California Posts:2,427 Points:1,349,265 Joined:Sep 2008	Message Posted: Jun 16, 2012 9:51:17 AM Ignore jeff95519 Report Abuse give me a break
CDMAuto Champion Author Connecticut Posts:3,768 Points:749,690 Joined:Apr 2011	Message Posted: Jun 16, 2012 9:50:52 AM Ignore CDMAuto Report Abuse Oil goes up The economy goes down... Its a Fact.....
slgas Champion Author Houston Posts:6,005 Points:1,557,565 Joined:Oct 2008	Message Posted: Jun 16, 2012 9:48:30 AM Ignore slgas Report Abuse I wouldn't bet too much on there being a QE3.
TWS658 Champion Author Portland Posts:4,543 Points:950,875 Joined:Sep 2005	Message Posted: Jun 16, 2012 9:48:28 AM Ignore TWS658 Report Abuse Ok.
yelobus Champion Author Houston Posts:5,574 Points:1,551,865 Joined:Aug 2006	Message Posted: Jun 16, 2012 9:48:23 AM Ignore yelobus Report Abuse Right.
RobertSpratt Champion Author Virginia Beach Posts:4,810 Points:1,041,540 Joined:Jul 2007	Message Posted: Jun 16, 2012 9:47:42 AM Ignore RobertSpratt Report Abuse Osama Obama BS
Tnerbeel Champion Author Houston Posts:8,798 Points:1,743,860 Joined:Mar 2007	Message Posted: Jun 16, 2012 9:47:23 AM Ignore Tnerbeel Report Abuse Nothing Bernanke can do to counter the Obama debacle.
MarkC08 All-Star Author Worcester Posts:663 Points:585,695 Joined:Nov 2008	Message Posted: Jun 16, 2012 9:46:59 AM Ignore MarkC08 Report Abuse ok
ghmortensen Champion Author Minnesota Posts:1,984 Points:1,665,855 Joined:Jan 2007	Message Posted: Jun 16, 2012 9:46:45 AM Ignore ghmortensen Report Abuse The best way to stimulate the economy is for the government to reduces taxes and regulations.
mysub Champion Author Las Vegas Posts:8,886 Points:2,325,490 Joined:Apr 2006	Message Posted: Jun 16, 2012 9:45:06 AM Ignore mysub Report Abuse CharlieC08, I'm with you.
atdinut Champion Author California Posts:1,608 Points:352,160 Joined:Apr 2012	Message Posted: Jun 16, 2012 9:44:38 AM Ignore atdinut Report Abuse Higher oil, higher diesel prices:(
freedomsailor Champion Author Naples Posts:2,104 Points:405,695 Joined:Oct 2011	Message Posted: Jun 16, 2012 9:44:32 AM Ignore freedomsailor Report Abuse Up today, down a little tomorrow, then up a bigger "little" the next day.
ssect8 Champion Author Hartford Posts:7,968 Points:2,091,545 Joined:Jun 2006	Message Posted: Jun 16, 2012 9:44:20 AM Ignore ssect8 Report Abuse Having the Fed trying to stimulate the economy has been a complete disaster.
Ticobird Champion Author Huntsville Posts:3,205 Points:1,111,040 Joined:Oct 2009	Message Posted: Jun 16, 2012 9:43:49 AM Ignore Ticobird Report Abuse The economy's strength or weakness will ultimately determine the price of a barrel of crude oil.
evohnave Champion Author Virginia Posts:1,745 Points:1,000,000 Joined:Sep 2008	Message Posted: Jun 16, 2012 9:43:32 AM Ignore evohnave Report Abuse READ IT HERE FIRST: CRUDE OIL SETTLES DOWN ON HOPE OF FED STIMULUS
esorsd Champion Author St. Louis Posts:5,713 Points:1,633,765 Joined:May 2005	Message Posted: Jun 16, 2012 9:43:17 AM Ignore esorsd Report Abuse ok
yonasb Champion Author Houston Posts:3,463 Points:734,625 Joined:Apr 2011	Message Posted: Jun 16, 2012 9:42:35 AM Ignore yonasb Report Abuse No
LuthierKS Champion Author Wichita Posts:3,719 Points:724,955 Joined:Apr 2011	Message Posted: Jun 16, 2012 9:41:36 AM Ignore LuthierKS Report Abuse The Fed can't "stimulate" the economy. They've already pumped almost two trillion dollars into the economy with little to nothing to who for it. It's about time to vote the facists out and vote the capitalists in.
N5EXY Champion Author Austin Posts:5,472 Points:1,505,930 Joined:Jul 2004	Message Posted: Jun 16, 2012 9:41:05 AM Ignore N5EXY Report Abuse Good grief not another spendulus. 144 days until the ejection.