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Crude oil dives $1 in minutes after an unnamed official hits the tape suggesting the U.S. is...

Crude oil dives $1 in minutes after an unnamed official hits the tape suggesting the U.S. is still considering a release from the SPR. WTI crude -0.3% at $106.72.
Comments (7)
  • Jason Tillberg
    , contributor
    Comments (1236) | Send Message
     
    We can release it, but can the American people afford it? Or will we ship it to China?
    27 Mar 2012, 11:27 AM Reply Like
  • Canary Cash
    , contributor
    Comments (471) | Send Message
     
    It wont happen, not after that NDRP Executive Order...
    27 Mar 2012, 11:30 AM Reply Like
  • Josh Krause
    , contributor
    Comments (1361) | Send Message
     
    They'll release it or at least continue to threaten to release to supress the price.

     

    Got to love centrally planned manipulated markets. Free market captialism indeed.
    27 Mar 2012, 11:31 AM Reply Like
  • Tack
    , contributor
    Comments (12442) | Send Message
     
    Any release from the SPR can be measured in hours of consumption and is a completely transparent and meaningless vote-pandering effort directed toward fools, of which there are legions, regrettably.

     

    As an aside, I have to laugh. In Argentina, the government is threatening YPF (the major oil producer) with penalties or even nationalization because they are not producing enough oil. Here, we threaten oil companies if they try to increase production! We deserve our fate.
    27 Mar 2012, 11:39 AM Reply Like
  • Poor Texan
    , contributor
    Comments (3528) | Send Message
     
    Oil at 106.72 doesn't sound like the threat is very effective.
    27 Mar 2012, 01:41 PM Reply Like
  • HoeTamer
    , contributor
    Comments (186) | Send Message
     
    If they would float this rumor 70 more times, we could have $40 crude oil again.
    27 Mar 2012, 12:17 PM Reply Like
  • WMARKW
    , contributor
    Comments (10221) | Send Message
     
    Hoe......only if the rumor is "additive". I think there is a "dis-belief" factor that is attached such as: oil price = dbf * rumor. And the dbf is exponentially declining such as dbf^(1/# of rumor). Oh well, enough math for me today.....I think I need a cookie.
    27 Mar 2012, 01:49 PM Reply Like
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