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Oil Steady Above $119 on Stimulus Hopes

Reuters -- Oil prices held steady above $119 per barrel on Monday as the prospect of a third round of liquidity stimulus by the United States and a weaker dollar continued to support commodities despite slower economic growth around the globe.

Brent June crude futures [LCOCV1 119.29 -0.54 (-0.45%) ] were down 48 cents to $119.35 a barrel by 9:21 a.m. London time, on track to close down for the second consecutive month.

U.S. crude [CLM2 104.31 -0.62 (-0.59%) ] was down 35 cents at $104.58 a barrel.

Analysts said the market was effectively trading sideways following data on Friday which showed slower-than-expected U.S. GDP growth in the first quarter, raising hopes of a fresh liquidity injection.

"There are two factors at play that are preventing another sharp drop at the

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Submitted Apr 30, 2012 By: WxVette

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brbaritone Champion Author Virginia Posts:2,063 Points:1,696,210 Joined:Jan 2007	Message Posted: Apr 30, 2012 7:52:03 PM Ignore brbaritone Report Abuse Yes, 'hopes' and 'prospects' outweigh hard data. Sounds like speculation to me.
doctorindyj Champion Author Santa Fe Posts:3,443 Points:837,860 Joined:Nov 2009	Message Posted: Apr 30, 2012 1:23:35 PM Ignore doctorindyj Report Abuse Hopes. If wishes were horses then beggars would ride.
FPLREP Champion Author Virginia Posts:8,251 Points:2,446,300 Joined:Oct 2005	Message Posted: Apr 30, 2012 10:09:37 AM Ignore FPLREP Report Abuse Only idiots would be hoping for another stimulus of money. The best stimulus will not cost the taxpayer a dime....vote out Obama and watch the markets and business take off.
leraar2 Champion Author Massachusetts Posts:3,754 Points:785,730 Joined:Mar 2011	Message Posted: Apr 30, 2012 9:57:37 AM Ignore leraar2 Report Abuse BAN SPECULATION by banks and funds.
Skunk63 Champion Author Phoenix Posts:2,551 Points:556,525 Joined:Oct 2011	Message Posted: Apr 30, 2012 9:48:35 AM Ignore Skunk63 Report Abuse The only stimulus I'm interested in is the one that comes after November.
uatide13 Rookie Author Alabama Posts:23 Points:13,490 Joined:Apr 2012	Message Posted: Apr 30, 2012 9:40:54 AM Ignore uatide13 Report Abuse Cool.
knutzAL Champion Author Alabama Posts:2,248 Points:372,680 Joined:Feb 2012	Message Posted: Apr 30, 2012 9:23:51 AM Ignore knutzAL Report Abuse ok
Pozole Champion Author Portland Posts:9,585 Points:1,592,570 Joined:Mar 2005	Message Posted: Apr 30, 2012 9:23:29 AM Ignore Pozole Report Abuse ...hopes for whom ?...speculators ?...bankers ?...manipulators ?...
Dennis783 Champion Author Des Moines Posts:13,584 Points:2,701,935 Joined:Sep 2005	Message Posted: Apr 30, 2012 9:22:15 AM Ignore Dennis783 Report Abuse Oh this is great, oil is steady at an artificially high price on hopes Obama will throw away more of the taxpayers money.
Nancy&Len Champion Author Cleveland Posts:2,043 Points:1,943,865 Joined:Sep 2004	Message Posted: Apr 30, 2012 9:13:52 AM Ignore Nancy&Len Report Abuse The first two didn't work so why do a third except to buy votes for November.
derKraut Champion Author Ontario Posts:2,094 Points:1,226,055 Joined:Dec 2008	Message Posted: Apr 30, 2012 9:00:39 AM Ignore derKraut Report Abuse I swear these guys always invent new reasons for prices to go up.
nj2000ng Champion Author Houston Posts:1,507 Points:449,020 Joined:Jan 2010	Message Posted: Apr 30, 2012 9:00:13 AM Ignore nj2000ng Report Abuse does the whole world have to go back to recession for prices to come down?
Buckeyee Champion Author Maine Posts:4,597 Points:897,055 Joined:May 2010	Message Posted: Apr 30, 2012 8:58:10 AM Ignore Buckeyee Report Abuse Election time people, more vote buying by the All knowing, all wise Big O. Another stimulus of YOUR future tax dollars.
manbig13 Champion Author Cleveland Posts:1,431 Points:556,725 Joined:May 2011	Message Posted: Apr 30, 2012 8:50:22 AM Ignore manbig13 Report Abuse boo
WeasleyOC Champion Author Orange County Posts:3,139 Points:800,375 Joined:Jul 2008	Message Posted: Apr 30, 2012 8:47:00 AM Ignore WeasleyOC Report Abuse I almost want to say let it all collapse so prices will go down.
mwc407 Champion Author North Carolina Posts:1,095 Points:556,735 Joined:Jan 2011	Message Posted: Apr 30, 2012 8:43:12 AM Ignore mwc407 Report Abuse Brent prices up; brent prices down. THANKFULLY the retail pump prices are easing up some!
BEGTWO Champion Author Maryland Posts:1,932 Points:722,190 Joined:Sep 2010	Message Posted: Apr 30, 2012 8:39:58 AM Ignore BEGTWO Report Abuse OK
humblepie Champion Author Toledo Posts:34,132 Points:2,369,420 Joined:Mar 2006	Message Posted: Apr 30, 2012 8:36:49 AM Ignore humblepie Report Abuse maybe another trillion dollar jobs loss program will help anybody but obama 2012........................
Joeski1 Champion Author New Jersey Posts:9,984 Points:1,739,885 Joined:Dec 2004	Message Posted: Apr 30, 2012 8:29:03 AM Ignore Joeski1 Report Abuse Saw a few chevy Volts this weekend on our sunday get-away. Both drivers were all smiles! And neither car appeared to be on fire!
remay Champion Author Houston Posts:6,953 Points:2,115,440 Joined:May 2006	Message Posted: Apr 30, 2012 8:28:10 AM Ignore remay Report Abuse Stimulus??? Any "stimulus" would be to have LOWER crude/pump prices
johntxx Champion Author Texas Posts:2,766 Points:614,145 Joined:Aug 2011	Message Posted: Apr 30, 2012 8:24:22 AM Ignore johntxx Report Abuse Searching for any excuse to keep prices high.
alex395 Champion Author Louisville Posts:2,043 Points:276,270 Joined:Jan 2007	Message Posted: Apr 30, 2012 8:20:31 AM Ignore alex395 Report Abuse Weaker dollar-stop spending money we don't have Obama.