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Oil Price Hike Fizzles

FOXBusiness -- Doomsday talk of gas prices spiking to $5 a gallon and crude oil cruising beyond $150 a barrel appears to have been sorely premature.

With supplies at very healthy levels and Iran and the West meeting at the negotiating table instead of the war room, crude oil prices have retreated more than 6% since late February. Even gasoline prices have started to ebb lower.

Read more: http://www.foxbusiness.com/markets/2012/04/13/oil-price-hike-fizzles/#ixzz1s1SMUZWx

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Submitted Apr 14, 2012 By: SnickersDog

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jrs4125 Champion Author Indiana Posts:2,773 Points:594,670 Joined:Sep 2011	Message Posted: Apr 16, 2012 5:03:37 AM Ignore jrs4125 Report Abuse Not seeing much of a change at the pump. No suprise.
Vette1967 Champion Author Albany Posts:5,982 Points:1,278,925 Joined:Jun 2009	Message Posted: Apr 15, 2012 9:35:51 PM Ignore Vette1967 Report Abuse Speculators and greed will push gas to 5 bucks...way before a $150. barrel of oil.
mpg611 Champion Author Cleveland Posts:2,350 Points:572,770 Joined:Apr 2011	Message Posted: Apr 15, 2012 9:27:34 PM Ignore mpg611 Report Abuse I think the fizzle has gone flat.
amerk73 Champion Author Dallas Posts:7,060 Points:1,623,905 Joined:Oct 2008	Message Posted: Apr 14, 2012 8:57:02 PM Ignore amerk73 Report Abuse its game
TripleHs Champion Author Austin Posts:3,355 Points:919,590 Joined:Oct 2009	Message Posted: Apr 14, 2012 5:39:47 PM Ignore TripleHs Report Abuse speculations
Wsamson7121 Champion Author San Jose Posts:5,943 Points:2,013,495 Joined:Feb 2003	Message Posted: Apr 14, 2012 5:33:25 PM Ignore Wsamson7121 Report Abuse 36_ACRES_4_SALE said it best "blame it on obama."
DerHahn Champion Author Illinois Posts:13,732 Points:2,117,060 Joined:May 2004	Message Posted: Apr 14, 2012 5:12:22 PM Ignore DerHahn Report Abuse summer blend hasn't kicked in yet. it's probably in production, but isn't mandated at the pumps until june 1st.
36_ACRES_4_SALE All-Star Author Appleton Posts:999 Points:338,815 Joined:Oct 2011	Message Posted: Apr 14, 2012 4:23:31 PM Ignore 36_ACRES_4_SALE Report Abuse blame it on obama
hubie24 Veteran Author Michigan Posts:315 Points:204,080 Joined:Jul 2010	Message Posted: Apr 14, 2012 4:01:21 PM Ignore hubie24 Report Abuse Iran is the greedy side according to the 60 minutes special on CNBC.
badbonita Champion Author Syracuse Posts:6,239 Points:1,356,635 Joined:Jul 2008	Message Posted: Apr 14, 2012 3:53:09 PM Ignore badbonita Report Abuse It would be nice if FoxNews was right. Unusual but a nice surprise for the people.
Tehbob Champion Author California Posts:2,311 Points:460,530 Joined:Jan 2012	Message Posted: Apr 14, 2012 2:43:57 PM Ignore Tehbob Report Abuse interesting that this came Faux news
asog75 All-Star Author Indiana Posts:836 Points:278,405 Joined:Aug 2011	Message Posted: Apr 14, 2012 2:23:04 PM Ignore asog75 Report Abuse dont count your barrels before they hatch,they will try another way to get our hard earned cash!!
Meowmy Champion Author Florida Posts:1,293 Points:349,605 Joined:Jan 2011	Message Posted: Apr 14, 2012 1:51:29 PM Ignore Meowmy Report Abuse Knew it! The speculators are idiots!
bwatchingu Champion Author Arkansas Posts:1,755 Points:604,445 Joined:Jan 2009	Message Posted: Apr 14, 2012 12:41:37 PM Ignore bwatchingu Report Abuse watching
tnfran Champion Author Arizona Posts:4,398 Points:846,090 Joined:Dec 2010	Message Posted: Apr 14, 2012 11:30:15 AM Ignore tnfran Report Abuse It ain't over yet; you can bet on that.
johntxx Champion Author Texas Posts:2,800 Points:619,245 Joined:Aug 2011	Message Posted: Apr 14, 2012 10:50:47 AM Ignore johntxx Report Abuse "But oil watchers are keeping a close eye on the Iran situation. Flynn predicted a steep decline in energy prices if the meetings this weekend in Istanbul produce a breakthrough. “We could see gasoline prices go below $3 a gallon,” said Flynn." Let's hope the talks go well.
LEGION57 Champion Author South Carolina Posts:1,676 Points:283,110 Joined:Mar 2011	Message Posted: Apr 14, 2012 10:26:27 AM Ignore LEGION57 Report Abuse fizzzzz
bandannaman Champion Author New Jersey Posts:1,849 Points:365,610 Joined:Dec 2010	Message Posted: Apr 14, 2012 9:56:26 AM Ignore bandannaman Report Abuse Wow.
Night Owl Champion Author Toronto Posts:7,570 Points:1,790,500 Joined:Jul 2004	Message Posted: Apr 14, 2012 9:43:48 AM Ignore Night Owl Report Abuse Gas prices are still far too high in the Toronto area: 138.2 cents per litre today = 5.24 US dollars per US gallon!
dangasman Champion Author Michigan Posts:3,034 Points:1,667,060 Joined:Oct 2006	Message Posted: Apr 14, 2012 9:41:48 AM Ignore dangasman Report Abuse well it didnt fizzle around here, up .31 cents today!! only thing gonna fizzleis the ECONOMY !!
Yooperheart Champion Author Michigan Posts:3,435 Points:529,950 Joined:Feb 2010	Message Posted: Apr 14, 2012 9:25:10 AM Ignore Yooperheart Report Abuse Hard to soak in when the price spiked .30 over night Don't ya love the trickle down pricing trends.
rjojo40 Champion Author Las Vegas Posts:7,399 Points:1,078,565 Joined:Feb 2004	Message Posted: Apr 14, 2012 9:24:18 AM Ignore rjojo40 Report Abuse Told You
BUSMAN1105 Champion Author Atlanta Posts:2,171 Points:1,173,825 Joined:Aug 2008	Message Posted: Apr 14, 2012 9:20:35 AM Ignore BUSMAN1105 Report Abuse GOOD, IT NEEDS TO DROP MORE TO HELP WITH OUR ECONOMY RECOVERY.
Jeff4U Champion Author Atlanta Posts:8,772 Points:1,855,295 Joined:Nov 2004	Message Posted: Apr 14, 2012 9:18:40 AM Ignore Jeff4U Report Abuse Where do they come up with this crap? Wholesale gasoline is still $3.35 per gallon, which equals around $3.85 at the pump. If these prices had decreased by 6%, then wholesale gas would be at $3.14 per gallon.
clpassenubye Champion Author Los Angeles Posts:3,359 Points:756,980 Joined:Mar 2011	Message Posted: Apr 14, 2012 9:16:40 AM Ignore clpassenubye Report Abuse good
Lugi1967 Champion Author Ohio Posts:4,803 Points:1,005,170 Joined:Jun 2010	Message Posted: Apr 14, 2012 9:16:18 AM Ignore Lugi1967 Report Abuse Nothing but speculator hype
dgerst Champion Author South Carolina Posts:2,721 Points:558,725 Joined:Aug 2008	Message Posted: Apr 14, 2012 9:08:59 AM Ignore dgerst Report Abuse The US and European year to date reduction of gasoline use has helped to increase gasoline supply. Gasoline prices should start to drop.
danindenver Champion Author Denver Posts:5,500 Points:1,241,180 Joined:May 2005	Message Posted: Apr 14, 2012 8:50:26 AM Ignore danindenver Report Abuse Does this mean that BHO's re-election campaign is in the toilet, now?
Nicoalbum Champion Author Ottawa Posts:6,037 Points:1,191,950 Joined:Jan 2010	Message Posted: Apr 14, 2012 8:31:59 AM Ignore Nicoalbum Report Abuse In Montreal regular gas is still around 1.49$/gal - what is premature?
Donatelo Champion Author Dayton Posts:1,129 Points:295,245 Joined:Apr 2011	Message Posted: Apr 14, 2012 8:29:02 AM Ignore Donatelo Report Abuse ok
fracknsave Champion Author Grand Rapids Posts:1,666 Points:58,000 Joined:Mar 2012	Message Posted: Apr 14, 2012 8:16:24 AM Ignore fracknsave Report Abuse In a couple years the frackin price of oil will matter about as much as OPEC will matter, as cheap Nat Gas takes over the economy. And it can't happen too soon.
sedonaJ All-Star Author Arizona Posts:616 Points:197,670 Joined:Mar 2012	Message Posted: Apr 14, 2012 8:12:15 AM Ignore sedonaJ Report Abuse Isnt the price already spiked up far beyond reality already? Cant we try for better? Much better?
Shadowwarrior All-Star Author Pennsylvania Posts:928 Points:2,023,210 Joined:Oct 2005	Message Posted: Apr 14, 2012 8:07:05 AM Ignore Shadowwarrior Report Abuse While may go down they always find a way to keep fuel prices high.
fedupMN Champion Author Twin Cities Posts:2,969 Points:576,380 Joined:Mar 2011	Message Posted: Apr 14, 2012 8:04:04 AM Ignore fedupMN Report Abuse Not according to gas prices I see....
gbs1 Champion Author Minnesota Posts:2,016 Points:745,525 Joined:Mar 2011	Message Posted: Apr 14, 2012 7:41:51 AM Ignore gbs1 Report Abuse Good news for now until some future bs spikes the price again.
335d1 Champion Author Virginia Posts:2,396 Points:761,970 Joined:Feb 2011	Message Posted: Apr 14, 2012 7:41:37 AM Ignore 335d1 Report Abuse One can only hope.
dave27johnson Champion Author Chicago Posts:1,790 Points:411,010 Joined:Feb 2012	Message Posted: Apr 14, 2012 7:37:19 AM Ignore dave27johnson Report Abuse This bubble has burst, but speculators will find new ways to create new bubbles.
bullfrog42 All-Star Author Texas Posts:847 Points:171,085 Joined:May 2011	Message Posted: Apr 14, 2012 7:30:22 AM Ignore bullfrog42 Report Abuse I hope it comes down
Rockyguitar Champion Author Tampa Posts:2,577 Points:1,205,495 Joined:Sep 2008	Message Posted: Apr 14, 2012 7:15:30 AM Ignore Rockyguitar Report Abuse I believe none of the "experts." They can't get it right week to week.
angel4me Champion Author San Jose Posts:2,814 Points:796,045 Joined:Dec 2010	Message Posted: Apr 14, 2012 7:15:22 AM Ignore angel4me Report Abuse will be short lived......
GaSrt8 Veteran Author Georgia Posts:331 Points:401,630 Joined:Nov 2011	Message Posted: Apr 14, 2012 7:05:57 AM Ignore GaSrt8 Report Abuse I hope it true that gas prices will come down.
leraar2 Champion Author Massachusetts Posts:3,779 Points:790,605 Joined:Mar 2011	Message Posted: Apr 14, 2012 7:00:08 AM Ignore leraar2 Report Abuse oh! those "poor" (pure) speculators. they're losing their shirts.
yardslave Champion Author Oklahoma City Posts:2,570 Points:599,730 Joined:Dec 2005	Message Posted: Apr 14, 2012 6:59:34 AM Ignore yardslave Report Abuse That story was just to help drive up prices for the speculators.
Skunk63 Champion Author Phoenix Posts:2,567 Points:561,220 Joined:Oct 2011	Message Posted: Apr 14, 2012 6:52:14 AM Ignore Skunk63 Report Abuse This story isn't over yet...