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Oil Settles Below $81 on Stronger Dollar

CNBC -- Oil prices fell nearly 1 percent on Friday as the U.S. dollar firmed against foreign currencies, slashing investment flows into oil and other commodities.

Oil prices fell below $80 a barrel as the dollar gained against the euro on worries over Greece's debt, and after a Reuters poll forecast over-supply in the oil market this year.

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Submitted Mar 19, 2010 By: EVH_1984

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ENORMS Champion Author Colorado Posts:3,014 Points:1,172,310 Joined:Sep 2006	Message Posted: Mar 20, 2010 3:07:03 PM Ignore ENORMS Report Abuse This is a good thing!!
honda0105 Champion Author Tallahassee Posts:15,266 Points:1,142,300 Joined:Nov 2008	Message Posted: Mar 20, 2010 12:16:23 PM Ignore honda0105 Report Abuse falling for a day, rising for three. Where's the gain for consumers?
ronsimonil All-Star Author Texas Posts:734 Points:157,975 Joined:Mar 2009	Message Posted: Mar 20, 2010 9:23:02 AM Ignore ronsimonil Report Abuse when one looks at the whole economic picture it does not add up right.
MidNJ Champion Author New Jersey Posts:4,628 Points:739,595 Joined:Sep 2009	Message Posted: Mar 20, 2010 12:37:08 AM Ignore MidNJ Report Abuse Again, this is a "Ground Hog Day" story
vulcan96 Champion Author Ohio Posts:21,169 Points:2,639,595 Joined:Aug 2004	Message Posted: Mar 20, 2010 12:34:21 AM Ignore vulcan96 Report Abuse get busy with the electric cars !
FordF2502001 Champion Author Mississippi Posts:5,678 Points:1,154,720 Joined:Sep 2008	Message Posted: Mar 20, 2010 12:29:03 AM Ignore FordF2502001 Report Abuse Over supply and still high prices
judgemobile Champion Author Ohio Posts:5,245 Points:1,983,145 Joined:Nov 2005	Message Posted: Mar 20, 2010 12:28:47 AM Ignore judgemobile Report Abuse don't ever tell O'Bummer what comes after a TRILLION--or that there are not 57 states.
GasholeMI Champion Author Lansing Posts:7,773 Points:1,251,240 Joined:Jul 2008	Message Posted: Mar 20, 2010 12:22:20 AM Ignore GasholeMI Report Abuse Those who trade in oil futures need the market to be fluctuating or they could not make any money.
10k Champion Author North Carolina Posts:16,595 Points:1,787,870 Joined:May 2006	Message Posted: Mar 20, 2010 12:19:00 AM Ignore 10k Report Abuse stronger dollar where ??..give the real facts, not general statements..
nnick Champion Author Montreal Posts:6,060 Points:1,181,645 Joined:Oct 2008	Message Posted: Mar 20, 2010 12:16:17 AM Ignore nnick Report Abuse Next thing we know, they will think of a way to keep the gas prices going up.
tedjm1 Champion Author New York Posts:3,540 Points:389,685 Joined:Dec 2006	Message Posted: Mar 20, 2010 12:14:04 AM Ignore tedjm1 Report Abuse Why bother reporting $1.00 changes to oil price. Nothing really changes much at the gas pumps.
unicornpmb Champion Author Buffalo Posts:6,117 Points:1,162,475 Joined:Sep 2005	Message Posted: Mar 20, 2010 12:12:59 AM Ignore unicornpmb Report Abuse Same old same old
Bigwaynef Champion Author South Carolina Posts:7,657 Points:1,613,960 Joined:Dec 2006	Message Posted: Mar 20, 2010 12:10:36 AM Ignore Bigwaynef Report Abuse Let's shoot for $41 on the barrel...please
storm254 All-Star Author Maryland Posts:756 Points:525,050 Joined:Sep 2005	Message Posted: Mar 20, 2010 12:09:46 AM Ignore storm254 Report Abuse Let's see how long (if ever) it will take to reflect at the pump.
CobraLeader Champion Author New Jersey Posts:267,902 Points:1,200,750 Joined:Apr 2007	Message Posted: Mar 20, 2010 12:08:25 AM Ignore CobraLeader Report Abuse ... Just part of the normal cycle ...
cincidap Champion Author Cincinnati Posts:3,575 Points:694,250 Joined:Sep 2006	Message Posted: Mar 20, 2010 12:07:32 AM Ignore cincidap Report Abuse Current demand is down. Speculation, however, has been up. Let them continue to take profits and just maybe it will accelerate into a crash to more reasonable levels.
Ltdc Champion Author Long Island Posts:4,908 Points:1,223,540 Joined:Jul 2007	Message Posted: Mar 20, 2010 12:06:37 AM Ignore Ltdc Report Abuse Just a very temporary reprieve.
Joeski1 Champion Author New Jersey Posts:6,765 Points:1,274,005 Joined:Dec 2004	Message Posted: Mar 20, 2010 12:06:34 AM Ignore Joeski1 Report Abuse Dream On.... Got Hybrid?
altonb1 Champion Author Pennsylvania Posts:6,895 Points:1,054,645 Joined:Jul 2005	Message Posted: Mar 20, 2010 12:04:56 AM Ignore altonb1 Report Abuse Oil needs to be settling about $30/barrel cheaper.
visitor_2 Champion Author Orlando Posts:1,023 Points:1,234,770 Joined:Aug 2006	Message Posted: Mar 20, 2010 12:04:45 AM Ignore visitor_2 Report Abuse How far will it drop?
my3sons Champion Author New York Posts:4,455 Points:1,506,535 Joined:Aug 2005	Message Posted: Mar 20, 2010 12:04:23 AM Ignore my3sons Report Abuse much lower would be much better
npt Veteran Author Raleigh Posts:250 Points:90,680 Joined:Oct 2009	Message Posted: Mar 20, 2010 12:00:01 AM Ignore npt Report Abuse Oil prices are linked to demand on long run, these currency related changes are for few days.
GasitupJB Champion Author Columbia Posts:3,771 Points:572,255 Joined:Sep 2005	Message Posted: Mar 19, 2010 11:56:37 PM Ignore GasitupJB Report Abuse this is becoming weird
sgonza98 Champion Author San Antonio Posts:3,556 Points:572,860 Joined:Apr 2004	Message Posted: Mar 19, 2010 11:55:02 PM Ignore sgonza98 Report Abuse to the speculators. . .stronger dollar.. .stronger economy. . .excuse to jack up prices!!!
DrLyon Champion Author Michigan Posts:4,444 Points:752,060 Joined:May 2006	Message Posted: Mar 19, 2010 11:52:26 PM Ignore DrLyon Report Abuse So why is the price per gallon up in Michigan?
YLHandyman Champion Author Orange County Posts:5,008 Points:930,140 Joined:Feb 2008	Message Posted: Mar 19, 2010 11:42:59 PM Ignore YLHandyman Report Abuse If the dollar were really strong then the price would be around $50
milespergallon Champion Author Illinois Posts:7,493 Points:1,479,290 Joined:Feb 2007	Message Posted: Mar 19, 2010 11:34:07 PM Ignore milespergallon Report Abuse Who gives a rip. The pump prices are whatever they want. Bring on the Alternative Fuel Vehicle
Buddy2264 Champion Author Tampa Posts:9,258 Points:1,893,540 Joined:Oct 2005	Message Posted: Mar 19, 2010 11:32:12 PM Ignore Buddy2264 Report Abuse We are using less, others are using more, so we all get to pay more, or so they say. We can use alternatives and hybrids, and use less and pay less. Conservation keeps your money in your pocket.
AC-302 Champion Author Los Angeles Posts:21,263 Points:2,451,790 Joined:Aug 2004	Message Posted: Mar 19, 2010 11:21:18 PM Ignore AC-302 Report Abuse Eighty-one bucks? It ought to be more like $35.
JCM54 Veteran Author Los Angeles Posts:389 Points:162,420 Joined:May 2007	Message Posted: Mar 19, 2010 11:16:43 PM Ignore JCM54 Report Abuse What a rip off!
TIGERPAW46 Champion Author Florida Posts:5,158 Points:965,885 Joined:Mar 2004	Message Posted: Mar 19, 2010 11:16:11 PM Ignore TIGERPAW46 Report Abuse Just a few mo ago it was $40 brl & the oil companies were still producing & selling. Who is kidding who if they were losing money they would have shut down prod then. [Edited by: TIGERPAW46 at 3/19/2010 11:16:47 PM EST]
altima2008 Champion Author Philadelphia Posts:5,793 Points:1,272,305 Joined:Apr 2008	Message Posted: Mar 19, 2010 11:14:46 PM Ignore altima2008 Report Abuse It is all a load of crap. Nobama wants the prices up to $4 a gallon if not more. Gas should be no more than $2 a gallon period!
Lukus Champion Author Halifax Posts:6,026 Points:1,216,610 Joined:Nov 2007	Message Posted: Mar 19, 2010 11:12:11 PM Ignore Lukus Report Abuse The prices should be at least $10 lower.
RedRam2005 Champion Author San Antonio Posts:5,696 Points:1,057,810 Joined:Dec 2007	Message Posted: Mar 19, 2010 11:09:48 PM Ignore RedRam2005 Report Abuse The value of dollars has little effect on the price of gas, speculation and profit taking is a much bigger cause.
netman044 Champion Author Texas Posts:5,291 Points:894,410 Joined:Sep 2005	Message Posted: Mar 19, 2010 11:06:02 PM Ignore netman044 Report Abuse Dollar will drop and oil will go up.
RobRD Champion Author Alberta Posts:3,828 Points:896,020 Joined:Jul 2007	Message Posted: Mar 19, 2010 10:53:02 PM Ignore RobRD Report Abuse We need to see it drop further.
Jo120 Champion Author Arizona Posts:4,242 Points:1,475,330 Joined:Mar 2005	Message Posted: Mar 19, 2010 10:41:19 PM Ignore Jo120 Report Abuse I agree with HawaiianGuy, ours went up another 3 cents today...
SBlouch Champion Author San Antonio Posts:6,891 Points:1,471,855 Joined:Apr 2007	Message Posted: Mar 19, 2010 10:40:55 PM Ignore SBlouch Report Abuse Prices of crude oil will continue to go up and down. Holiday is coming up so I expect prices at the pump will do the same.
HawaiianGuy Champion Author Idaho Posts:7,176 Points:2,618,140 Joined:May 2003	Message Posted: Mar 19, 2010 10:36:15 PM Ignore HawaiianGuy Report Abuse And when, pray tell, are we to see this at the pumps?
danreino Champion Author Twin Cities Posts:6,275 Points:1,143,170 Joined:Mar 2008	Message Posted: Mar 19, 2010 10:33:13 PM Ignore danreino Report Abuse Good Luck !
Zeke33 Champion Author New Hampshire Posts:3,867 Points:1,277,835 Joined:Sep 2005	Message Posted: Mar 19, 2010 10:27:40 PM Ignore Zeke33 Report Abuse As long as the idiots in Washington continue to spend on big government the doller will be come weker yet and the price of oil will continue to rise.
Chris46 Champion Author Dayton Posts:17,139 Points:1,673,495 Joined:Sep 2005	Message Posted: Mar 19, 2010 10:27:08 PM Ignore Chris46 Report Abuse Gas still won't go down. Summer is coming, along w/higher prices. Better stick close to home.
OGW Champion Author London Posts:3,342 Points:1,112,955 Joined:Sep 2005	Message Posted: Mar 19, 2010 10:15:14 PM Ignore OGW Report Abuse The barrel is still over priced and the greenback is forcast to decline against all major currencies over the next year or two so will that mean higher prices in the US and lower prices around the world?
signwiz Champion Author Indiana Posts:1,395 Points:1,349,180 Joined:Feb 2006	Message Posted: Mar 19, 2010 10:13:47 PM Ignore signwiz Report Abuse Just normal backing and filling... rise will resume next week.
toadNY Champion Author Albany Posts:4,558 Points:1,046,550 Joined:Apr 2008	Message Posted: Mar 19, 2010 10:13:39 PM Ignore toadNY Report Abuse Oil down 1.85% WOW! Because of a stronger dollar???? More lies from washington, Join the AMERICAN REVOLUTION to VOTE ALL INCUMBENTS OUT in 2010, obumer in 2012 & the rest of congress in 2014! Now that would be REAL CHANGE!
jb107 Champion Author New Jersey Posts:7,214 Points:2,155,580 Joined:Sep 2005	Message Posted: Mar 19, 2010 10:12:13 PM Ignore jb107 Report Abuse Every little bit helps.
jay4 Champion Author Colorado Springs Posts:5,792 Points:1,326,080 Joined:Apr 2006	Message Posted: Mar 19, 2010 10:06:07 PM Ignore jay4 Report Abuse Role of speculators, 68% of pump price?
EVH_1984 Champion Author Massachusetts Posts:1,011 Points:337,345 Joined:May 2008	Message Posted: Mar 19, 2010 9:59:53 PM Ignore EVH_1984 Report Abuse "According to a Reuters poll of 10 top oil-tracking analysts and organizations published, the global oil market will likely face oversupply of 150,000 barrels per day (bpd) this year, causing stocks to rise, as OPEC pumps more crude than the market needs. " This obviously explains that the current price of oil doesn't support fundamentals.