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A sharp decline turns into a free-fall, WTI crude at $97.90/barrel, now more than $8 cheaper...

A sharp decline turns into a free-fall, WTI crude at $97.90/barrel, now more than $8 cheaper than it was about 72 hours ago. USO -4.3%. Previously moving solidly higher, gold reverses to turn slightly red at $1,634/oz. GLD -0.2%.
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Comments (16)
  • Garfield23
    , contributor
    Comments (162) | Send Message
     
    put on your rally caps folks, precious metals could get a great ride from the fallout everywhere else...
    4 May 2012, 11:04 AM Reply Like
  • blueblood
    , contributor
    Comments (33) | Send Message
     
    Iranian threat possibly being priced out.

     

    http://bit.ly/L6WH42
    4 May 2012, 12:16 PM Reply Like
  • SA Editor Stephen Alpher
    , contributor
    Comments (555) | Send Message
     
    Thanks.
    4 May 2012, 12:17 PM Reply Like
  • tieroon
    , contributor
    Comment (1) | Send Message
     
    Nice!
    4 May 2012, 12:47 PM Reply Like
  • Windsun33
    , contributor
    Comments (4326) | Send Message
     
    Obama needs to investigate how the speculators have managed to crash the price of oil now.
    4 May 2012, 01:10 PM Reply Like
  • Garfield23
    , contributor
    Comments (162) | Send Message
     
    awesome comment!
    4 May 2012, 01:55 PM Reply Like
  • kmi
    , contributor
    Comments (4429) | Send Message
     
    If you don't think a $9 swing has anything to do with spec money in oil price, you haven't been watching the oil markets very long.
    4 May 2012, 02:10 PM Reply Like
  • sean.parmelee
    , contributor
    Comments (790) | Send Message
     
    You really missed the point, kmi. Nobody cries "speculation" when stocks or gold are rallying, or when oil is crashing, but everybody screams bloody murder when the opposite occurs.
    4 May 2012, 03:18 PM Reply Like
  • Hendershott
    , contributor
    Comments (1621) | Send Message
     
    The dramatic decline pretty much proves the point doesn't it? or was there a dramatic change in supply and demand in the last two days? I have to agree with KMI.
    4 May 2012, 03:57 PM Reply Like
  • daro
    , contributor
    Comments (1692) | Send Message
     
    i guess you dont listen to the media. the exchanges increased margins yesterday. ALL commodities were down yesterday. when the employment number came in low today that snowballed yesterday's margin increase effect.
    and if you think that the government was not behind the margin increase you are mistaken.
    4 May 2012, 08:59 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (8800) | Send Message
     
    That is a good point. Increasing margin requirements is a good policy in my view.
    5 May 2012, 09:46 AM Reply Like
  • tom_t
    , contributor
    Comments (283) | Send Message
     
    I'm sure my local gas station will IMMEDIATELY pass along the savings, just like he IMMEDIATELY raises the price whenever oil finishes the day up.
    4 May 2012, 01:49 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (8800) | Send Message
     
    If higher oil prices hurt economic growth, don't lower oil prices...hurt economic growth?
    4 May 2012, 02:53 PM Reply Like
  • rasanders22
    , contributor
    Comments (585) | Send Message
     
    There is a legitimate reason why gas prices rise fast and decrease slowly.
    4 May 2012, 07:08 PM Reply Like
  • Matthew Lewis
    , contributor
    Comments (429) | Send Message
     
    Your local gas station will be forced to lower the prices...unless you believe that every gas station in your area is colluding.
    4 May 2012, 11:52 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (8800) | Send Message
     
    RASanders22 is right. It will take time. When commodity prices are rising everyone has the same final goods price. When it falls, there can be big differences in price depending on where you go.

     

    I find that Costco is a great place to go when commodity prices are falling. QukTrip too. When the commodity is rising in price you might as well go to your local.
    5 May 2012, 09:49 AM Reply Like
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