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Oil bounces modestly as dollar edges lower

Market Watch -- LOS ANGELES (MarketWatch) — Oil prices ticked back up in electronic trade Friday after heavy losses over the past two days, though some analysts offered bearish near-term forecasts.

Benchmark U.S. crude oil for April delivery CLJ3
+0.37% rebounded by 39 cents, or
0.4%, to $93.23 a barrel during Asian hours, trimming just a bit off the contract’s $2.38 tumble in Thursday’s New York Mercantile Exchange session.

Likewise, London-traded April Brent crude UK:LCOJ3
+0.82% tacked on 54 cents, or
0.5%, to rise to $114.07 after plunging by $2.07 Thursday.

Friday’s mild rebound came amid a small decline for the U.S. dollar, with the ICE dollar index DXY
-0.10% slipping to 81.305
from 81.377 late Thursday in North America, though it remained well above late Wednesday’s 81.074 le

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Submitted Feb 22, 2013 By: bar1035

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ExplorerWA Champion Author Washington Posts:4,078 Points:796,400 Joined:Feb 2011	Message Posted: Feb 22, 2013 9:54:53 PM Ignore ExplorerWA Report Abuse Keeping that paper money.
A_NY_Outlaw Champion Author Albany Posts:1,373 Points:705,565 Joined:Mar 2011	Message Posted: Feb 22, 2013 1:17:36 PM Ignore A_NY_Outlaw Report Abuse As long as we've got Captain Obama at the helm, what could go wrong?
Mariuxus Champion Author Chicago Posts:3,760 Points:1,871,065 Joined:May 2007	Message Posted: Feb 22, 2013 11:32:55 AM Ignore Mariuxus Report Abuse ok...like roller coaster...up and down..
MKAnudo Sophomore Author Maryland Posts:213 Points:169,650 Joined:May 2011	Message Posted: Feb 22, 2013 11:23:17 AM Ignore MKAnudo Report Abuse Got it.
investmentdr Champion Author Cleveland Posts:4,029 Points:1,455,050 Joined:Sep 2008	Message Posted: Feb 22, 2013 11:18:02 AM Ignore investmentdr Report Abuse lower now
doctorindyj Champion Author Santa Fe Posts:3,450 Points:839,750 Joined:Nov 2009	Message Posted: Feb 22, 2013 11:06:23 AM Ignore doctorindyj Report Abuse Up, down, Up, Up.
knutzAL Champion Author Alabama Posts:2,248 Points:372,680 Joined:Feb 2012	Message Posted: Feb 22, 2013 11:04:58 AM Ignore knutzAL Report Abuse One of the very few articles tying pump prices to the dollar as it should be. Its the dollar that sets 90% of the price at the pump.
pgerassi Champion Author Milwaukee Posts:10,896 Points:2,131,605 Joined:Apr 2007	Message Posted: Feb 22, 2013 11:00:10 AM Ignore pgerassi Report Abuse SOP.
bluebird1 Champion Author Toronto Posts:15,733 Points:3,108,085 Joined:May 2004	Message Posted: Feb 22, 2013 10:51:49 AM Ignore bluebird1 Report Abuse If only it was supply &demand mastermariner. Hasn't been for quite some time & being in Texas thought you'd realize that most...after all why ship oil all the way to Texas for refining(with weather issues) - certainly not normal bus. practices.
mastermariner Champion Author Texas Posts:4,247 Points:493,010 Joined:Jun 2011	Message Posted: Feb 22, 2013 10:44:01 AM Ignore mastermariner Report Abuse Supply and demand
sm5240 Veteran Author Orange County Posts:452 Points:385,475 Joined:Apr 2011	Message Posted: Feb 22, 2013 10:35:03 AM Ignore sm5240 Report Abuse These higher gas prices are hurting the consumer, and retailers are feeling it now.
matthwbar Champion Author Toledo Posts:4,063 Points:1,017,805 Joined:Jun 2007	Message Posted: Feb 22, 2013 10:33:14 AM Ignore matthwbar Report Abuse Inflation is here....
TRAIN RIDER Champion Author San Bernardino Posts:9,077 Points:2,756,845 Joined:Oct 2004	Message Posted: Feb 22, 2013 10:32:19 AM Ignore TRAIN RIDER Report Abuse If the price stays up then the economy will not move forward.
Cuzilla Champion Author Indianapolis Posts:12,193 Points:2,348,445 Joined:Sep 2005	Message Posted: Feb 22, 2013 10:32:11 AM Ignore Cuzilla Report Abuse Can you spell i-n-f-l-a-t-i-o-n?
91_Metro_Man Champion Author Ventura Posts:1,827 Points:1,569,435 Joined:Dec 2007	Message Posted: Feb 22, 2013 10:31:45 AM Ignore 91_Metro_Man Report Abuse We will experience higher prices before we experience any relief. Our driving expenses will never be the same.
032946 Champion Author Twin Cities Posts:19,855 Points:4,043,070 Joined:Oct 2001	Message Posted: Feb 22, 2013 10:30:52 AM Ignore 032946 Report Abuse It needs to tumbel down a lot farther!
mberg Champion Author Houston Posts:3,807 Points:959,630 Joined:Aug 2010	Message Posted: Feb 22, 2013 10:30:24 AM Ignore mberg Report Abuse I can hardly contain my excitement!
krzysiek_ck Champion Author Illinois Posts:5,322 Points:728,910 Joined:Apr 2011	Message Posted: Feb 22, 2013 10:28:28 AM Ignore krzysiek_ck Report Abuse Nothing more than Big Oil Greed.
Wolfwings Champion Author Delaware Posts:8,740 Points:1,776,465 Joined:May 2004	Message Posted: Feb 22, 2013 10:27:50 AM Ignore Wolfwings Report Abuse I guess this is OIL-SPEAK for let's raise prices.
WTLITNG Champion Author Virginia Posts:1,849 Points:1,014,970 Joined:Dec 2008	Message Posted: Feb 22, 2013 10:26:49 AM Ignore WTLITNG Report Abuse The price of gas at the pump has been steadily rising for almost 40 days here.
abacus44 Champion Author Toms River Posts:3,475 Points:747,515 Joined:Jan 2011	Message Posted: Feb 22, 2013 10:26:41 AM Ignore abacus44 Report Abuse OK
sleuth696 All-Star Author Ventura Posts:943 Points:202,165 Joined:Oct 2012	Message Posted: Feb 22, 2013 10:25:50 AM Ignore sleuth696 Report Abuse The bottom line...prices continue to sky rocket.
forderjunk Champion Author Maine Posts:10,643 Points:2,172,960 Joined:Sep 2005	Message Posted: Feb 22, 2013 10:25:31 AM Ignore forderjunk Report Abuse We are awash in oil and greed keeps the pump prices high.
truckpdlr Champion Author Tucson Posts:2,951 Points:1,096,135 Joined:Sep 2009	Message Posted: Feb 22, 2013 10:25:25 AM Ignore truckpdlr Report Abuse Lets hope it doesnt keep going up
kst8er Champion Author St. Louis Posts:2,882 Points:1,046,440 Joined:Feb 2006	Message Posted: Feb 22, 2013 10:24:50 AM Ignore kst8er Report Abuse just tell us who is making all the dooouuugh
R209 Champion Author California Posts:6,554 Points:241,595 Joined:Jul 2012	Message Posted: Feb 22, 2013 10:23:43 AM Ignore R209 Report Abuse This story is full of flaws.
hwmillerster Champion Author Missouri Posts:6,789 Points:1,464,595 Joined:Oct 2008	Message Posted: Feb 22, 2013 10:22:39 AM Ignore hwmillerster Report Abuse Just the usual price fluctuation, it will probably go down by a dollar or so.
MustangRacing Champion Author Virginia Posts:1,838 Points:649,235 Joined:May 2011	Message Posted: Feb 22, 2013 10:22:34 AM Ignore MustangRacing Report Abuse The oil companies 'greed' is based on fear. Fear of what Obama has waiting for them around the corner.
tomklo Champion Author Fort Worth Posts:2,447 Points:2,594,745 Joined:Jul 2002	Message Posted: Feb 22, 2013 10:22:27 AM Ignore tomklo Report Abuse ok
Cloclo103 Veteran Author Ottawa Posts:284 Points:215,245 Joined:Aug 2011	Message Posted: Feb 22, 2013 10:21:28 AM Ignore Cloclo103 Report Abuse Oil price want down in the last month but gas prices go up... what is wrong??????????
slgas Champion Author Houston Posts:6,030 Points:1,561,790 Joined:Oct 2008	Message Posted: Feb 22, 2013 10:21:21 AM Ignore slgas Report Abuse Big deal. All traded commodities have their ups and downs.
queenieIN All-Star Author Gary Posts:634 Points:266,430 Joined:May 2012	Message Posted: Feb 22, 2013 10:20:25 AM Ignore queenieIN Report Abuse Amazing, we see a drop of $2-$3 on the barrel price, we get a 1 penny drop at the pump over the last 2 DAYS, but if it had gone up $2-$3 per barrel we would see a quick jump of 30-40 cents same day usually before noon, so people can't get gas at the lower price at lunch time. It will take a week of seeing $92-$93 per barrel to see a drop of 10-15 cents. GREED, GREED, GREED...
bowler300MO Champion Author Missouri Posts:1,983 Points:871,765 Joined:Mar 2010	Message Posted: Feb 22, 2013 10:19:37 AM Ignore bowler300MO Report Abuse greed just plan greed
DYSKYPILOT Champion Author Fort Worth Posts:2,897 Points:625,480 Joined:Mar 2006	Message Posted: Feb 22, 2013 10:18:46 AM Ignore DYSKYPILOT Report Abuse Ditto what treehood said.
gasmeup52 Champion Author Missouri Posts:1,325 Points:682,705 Joined:Jan 2011	Message Posted: Feb 22, 2013 10:17:07 AM Ignore gasmeup52 Report Abuse Prices are stable here. Everybody is stuck at 3.59.
humblepie Champion Author Toledo Posts:34,208 Points:2,371,370 Joined:Mar 2006	Message Posted: Feb 22, 2013 10:16:36 AM Ignore humblepie Report Abuse obamanimcs is killing the dollar
BlueVanGroup Champion Author Colorado Posts:7,202 Points:1,527,580 Joined:May 2008	Message Posted: Feb 22, 2013 10:15:37 AM Ignore BlueVanGroup Report Abuse U.S. Debt Clock As progressive politicians continue to spend our dollars into toilet paper it takes more of them to buy fuel, food, and everything else. We the People need to drag our representatives (kicking and screaming if necessary) back to fiscal responsibility.
doncNJ Champion Author New Jersey Posts:7,521 Points:1,505,095 Joined:Oct 2008	Message Posted: Feb 22, 2013 10:15:05 AM Ignore doncNJ Report Abuse So, will gas prices b coming down in April?
AC-302 Champion Author Los Angeles Posts:26,582 Points:2,902,095 Joined:Aug 2004	Message Posted: Feb 22, 2013 10:15:04 AM Ignore AC-302 Report Abuse Dollars are getting cheaper as we overspend our budgets and print more money to cover it.
treehood Champion Author San Diego Posts:2,044 Points:396,010 Joined:May 2011	Message Posted: Feb 22, 2013 10:14:54 AM Ignore treehood Report Abuse This story is bogus. I am not saying it lies but if you know the facts you realize the story only used the selective info it wants to. The dollar has been trading around 78-80 for the last few years and today it is a little over 81 but that may not hold, just watch it for yourself. The oil price reported on KITCO had been up to 97/98 in the last week or two. Today it is trading under $93. If you want to follow this stuff and make a prediction you need to also look at the longterm and not just today. Listen to the stock report today (Friday) that the news media will report. They will say the market closed up or down so many points but they are referring to Friday only. The week increase or decrease may be just the opposite of what they have just reported. Correct information is valuable and is not usually given for free. You need to discover and affirm it for yourself.
buzzieNY Champion Author Buffalo Posts:2,893 Points:635,555 Joined:Jun 2011	Message Posted: Feb 22, 2013 10:14:29 AM Ignore buzzieNY Report Abuse The gas stations think can be just like the stock market.
radiorumor Champion Author Texas Posts:2,812 Points:753,860 Joined:Feb 2011	Message Posted: Feb 22, 2013 10:12:36 AM Ignore radiorumor Report Abuse Bearish would be good for us
STEVOAB Veteran Author Alberta Posts:280 Points:349,860 Joined:Nov 2011	Message Posted: Feb 22, 2013 10:12:27 AM Ignore STEVOAB Report Abuse Dusting off my bicycle...
bridgerunner Champion Author Virginia Posts:4,782 Points:1,005,860 Joined:Jul 2009	Message Posted: Feb 22, 2013 10:11:22 AM Ignore bridgerunner Report Abuse That forecast seems to be good news.
sivart Champion Author Arkansas Posts:18,225 Points:3,070,960 Joined:May 2004	Message Posted: Feb 22, 2013 10:10:56 AM Ignore sivart Report Abuse According to GasBuddy the price of crude dropped fron $97.44 on 2/15 to $93.13 today 2/22 but the price at the pump here went from $3.35 to $3.55. What's the deal?
mrservonics Champion Author Boston Posts:2,729 Points:1,353,405 Joined:May 2005	Message Posted: Feb 22, 2013 10:10:55 AM Ignore mrservonics Report Abuse Why not? We're willing to pay more.
CorvairHaven Champion Author Cleveland Posts:4,354 Points:1,453,940 Joined:Sep 2008	Message Posted: Feb 22, 2013 10:10:35 AM Ignore CorvairHaven Report Abuse Any reason to raise prices.
TomBear All-Star Author Ontario Posts:508 Points:277,910 Joined:May 2004	Message Posted: Feb 22, 2013 10:09:08 AM Ignore TomBear Report Abuse Of course if it bounces even a penny higher, it will be an excuse to raise pump prices even higher.
pulpwood Champion Author Mississippi Posts:7,379 Points:1,859,605 Joined:Sep 2006	Message Posted: Feb 22, 2013 10:08:39 AM Ignore pulpwood Report Abuse big oil owns us all and will do as they please.
Elaine4411 Champion Author Pennsylvania Posts:1,648 Points:463,340 Joined:Dec 2011	Message Posted: Feb 22, 2013 10:08:18 AM Ignore Elaine4411 Report Abuse Where is the "falling prices" at the pump?