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Oil Rises to $104 on Fed Stimulus Hopes

Reuters -- Brent crude oil rose to $104 a barrel on Tuesday ahead of a speech by U.S. Federal Reserve Chairman Ben Bernanke that could signal more measures to stimulate economic growth.

Bernanke will present his semi-annual monetary policy report to Congress against a backdrop of slowing economic activity at home and Europe's deepening debt crisis.

Central banks in China and Europe have already eased policy to help prop up their economies and the Fed is widely expected to launch a third round of outright bond purchases, or quantitative easing (QE) sometime later this year.

Stock markets rose, the dollar fell and the euro firmed, in line with a broad rally in riskier assets.

Brent [LCOCV1 104.57 1.20 (+1.16%) ] futures rose 63 cents to $104.00 a barrel on Tuesday morning, the fourt

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Submitted Jul 17, 2012 By: WxVette

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BEGTWO Champion Author Maryland Posts:1,942 Points:723,990 Joined:Sep 2010	Message Posted: Jul 18, 2012 7:25:03 AM Ignore BEGTWO Report Abuse NO
kgbellman Champion Author Ann Arbor Posts:2,713 Points:731,840 Joined:Mar 2011	Message Posted: Jul 18, 2012 12:53:27 AM Ignore kgbellman Report Abuse Why even try to figure it out
2bigtanks All-Star Author Akron Posts:772 Points:371,610 Joined:Jun 2011	Message Posted: Jul 18, 2012 12:52:36 AM Ignore 2bigtanks Report Abuse Oh boy, another lame excuse!
bisonjim Champion Author Florida Posts:1,055 Points:206,230 Joined:May 2012	Message Posted: Jul 18, 2012 12:52:12 AM Ignore bisonjim Report Abuse We need some stimulus money, but we DON'T need oil & gss speculators
yakstar Champion Author Montreal Posts:2,420 Points:479,645 Joined:Jan 2012	Message Posted: Jul 18, 2012 12:50:15 AM Ignore yakstar Report Abuse boo!
txkrb Champion Author Texas Posts:1,560 Points:638,705 Joined:May 2011	Message Posted: Jul 18, 2012 12:49:00 AM Ignore txkrb Report Abuse I want to know where the Federal Reserve gets its power/authority There seems to be no checks and balances for them [Edited by: txkrb at 7/18/2012 12:50:14 AM EST]
1fulltank Champion Author Buffalo Posts:7,903 Points:1,544,310 Joined:Nov 2008	Message Posted: Jul 18, 2012 12:46:37 AM Ignore 1fulltank Report Abuse So, what you're saying is that just the HOPE of a better economy will result in higher gas prices, thus negating the boost in the economy by having to pay higher prices. Great.
langolera Champion Author Akron Posts:1,761 Points:665,980 Joined:Sep 2005	Message Posted: Jul 18, 2012 12:45:40 AM Ignore langolera Report Abuse speculators and bernanke, both are hurting the US and oil
Saunch2012 Veteran Author Pennsylvania Posts:451 Points:111,105 Joined:May 2012	Message Posted: Jul 18, 2012 12:44:46 AM Ignore Saunch2012 Report Abuse ok
hemiMI Veteran Author Michigan Posts:260 Points:405,835 Joined:May 2011	Message Posted: Jul 18, 2012 12:43:49 AM Ignore hemiMI Report Abuse Oil speculators are fools.
kishoreCA Champion Author Ventura Posts:3,117 Points:392,895 Joined:Mar 2012	Message Posted: Jul 18, 2012 12:43:44 AM Ignore kishoreCA Report Abuse i echo afghaned. Just another reason to hike the prices.
miser709 Champion Author Grand Rapids Posts:1,268 Points:1,069,925 Joined:Mar 2004	Message Posted: Jul 18, 2012 12:41:39 AM Ignore miser709 Report Abuse Sure, Fed Stimulus Hopes. That's a lame excuse.
afghaned Champion Author Hamilton Posts:11,814 Points:1,286,135 Joined:May 2004	Message Posted: Jul 18, 2012 12:40:28 AM Ignore afghaned Report Abuse Any excuse to raise prices.
GigHarborHound Champion Author Tacoma Posts:2,537 Points:488,490 Joined:Sep 2011	Message Posted: Jul 18, 2012 12:38:23 AM Ignore GigHarborHound Report Abuse car 253 has it right!!!
iagdboy Champion Author Albany Posts:1,191 Points:497,250 Joined:Jun 2011	Message Posted: Jul 17, 2012 6:37:59 PM Ignore iagdboy Report Abuse only the beginning
PathfinderSC Champion Author South Carolina Posts:9,516 Points:1,830,640 Joined:Mar 2008	Message Posted: Jul 17, 2012 6:22:24 PM Ignore PathfinderSC Report Abuse The biggest problem is our Government is trying to control everything out there ,
car253 Champion Author Ohio Posts:6,293 Points:1,468,620 Joined:Oct 2008	Message Posted: Jul 17, 2012 3:10:01 PM Ignore car253 Report Abuse No more stimulus, no more Obama.
scu227 Champion Author New Haven Posts:4,152 Points:771,880 Joined:Feb 2011	Message Posted: Jul 17, 2012 1:17:14 PM Ignore scu227 Report Abuse What stimulus, a lot of unfilled promises from the speculatos to jack up prices.
Night Owl Champion Author Toronto Posts:7,555 Points:1,787,575 Joined:Jul 2004	Message Posted: Jul 17, 2012 11:11:40 AM Ignore Night Owl Report Abuse Greedy oil speculators do this again and again and again. They keep raising oil prices on their hopes that world economies will finally recover. But by doing so, they kill off any hope of economic recovery. Traders need to be banned from even touching oil futures. We need to get back to supply and demand controlling oil prices.
BEGTWO Champion Author Maryland Posts:1,942 Points:723,990 Joined:Sep 2010	Message Posted: Jul 17, 2012 10:51:55 AM Ignore BEGTWO Report Abuse OH ... NO!!!
amerk73 Champion Author Dallas Posts:7,046 Points:1,621,000 Joined:Oct 2008	Message Posted: Jul 17, 2012 10:20:06 AM Ignore amerk73 Report Abuse Brent Crude Oil now at $103.55
BUSMAN1105 Champion Author Atlanta Posts:2,160 Points:1,170,980 Joined:Aug 2008	Message Posted: Jul 17, 2012 10:08:04 AM Ignore BUSMAN1105 Report Abuse this is bad news!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
ToolinIt Champion Author Colorado Posts:1,803 Points:887,195 Joined:May 2010	Message Posted: Jul 17, 2012 10:07:55 AM Ignore ToolinIt Report Abuse If Ben does another QE then the value of the dollar will diminish and oil will be more expensive.
AlienBug All-Star Author Connecticut Posts:732 Points:218,035 Joined:Jul 2011	Message Posted: Jul 17, 2012 9:36:19 AM Ignore AlienBug Report Abuse Great. Banking on the US govt to further oppress us. Sounds like a safe bet, actually.
Skunk63 Champion Author Phoenix Posts:2,557 Points:558,395 Joined:Oct 2011	Message Posted: Jul 17, 2012 9:31:24 AM Ignore Skunk63 Report Abuse QE3 won't work. We need radical change that starts with reducing the size and role of government.
CartelBuster Veteran Author Detroit Posts:418 Points:1,579,885 Joined:May 2007	Message Posted: Jul 17, 2012 9:29:26 AM Ignore CartelBuster Report Abuse Tarp 1, Tarp 2, taxpayers can't afford another BO Bondoggle~~~
knutzAL Champion Author Alabama Posts:2,248 Points:372,680 Joined:Feb 2012	Message Posted: Jul 17, 2012 9:21:45 AM Ignore knutzAL Report Abuse Whats the word............................right on the tip of my tongue.................almost...................yup, "exaserbated"! No body in Washington has a clue. If all Congressional and Senatorial, and especially the President would simply shut the hell up, leave it alone for a bit, and just take a break, many of the issues would resolve themselves. If it ain't fixed break it is the current modus for this president! Never did like Chicago!
angel4me Champion Author San Jose Posts:2,814 Points:794,545 Joined:Dec 2010	Message Posted: Jul 17, 2012 9:16:37 AM Ignore angel4me Report Abuse gas prices rise as well......
gbs1 Champion Author Minnesota Posts:1,996 Points:742,375 Joined:Mar 2011	Message Posted: Jul 17, 2012 9:08:48 AM Ignore gbs1 Report Abuse Enough of the stimulus
N5EXY Champion Author Austin Posts:5,492 Points:1,510,230 Joined:Jul 2004	Message Posted: Jul 17, 2012 9:07:09 AM Ignore N5EXY Report Abuse Not another spendulus, please. 112 days until the November ejection.
Evilmaddog Champion Author British Columbia Posts:3,322 Points:957,550 Joined:Aug 2010	Message Posted: Jul 17, 2012 9:03:32 AM Ignore Evilmaddog Report Abuse ?????????
skinsfan125 Champion Author Virginia Posts:1,557 Points:283,250 Joined:Jul 2010	Message Posted: Jul 17, 2012 8:48:09 AM Ignore skinsfan125 Report Abuse b.s.
bigmoo63 Champion Author Kalamazoo Posts:1,275 Points:83,105 Joined:Nov 2009	Message Posted: Jul 17, 2012 8:45:22 AM Ignore bigmoo63 Report Abuse Gee just mention a phony stimulus. Prices go right thru the roof. And Barry and Chu Chu do a happy dance...
the1roadhog Champion Author Atlanta Posts:9,908 Points:2,055,805 Joined:Jun 2007	Message Posted: Jul 17, 2012 8:41:08 AM Ignore the1roadhog Report Abuse Stimulate this...
humblepie Champion Author Toledo Posts:34,223 Points:2,371,370 Joined:Mar 2006	Message Posted: Jul 17, 2012 8:36:17 AM Ignore humblepie Report Abuse ben cant shoot a bullet from an empty gun
scu227 Champion Author New Haven Posts:4,152 Points:771,880 Joined:Feb 2011	Message Posted: Jul 17, 2012 8:35:09 AM Ignore scu227 Report Abuse If there were to be a stimulus it would be for the consumers and the economy. not for the oil companies. That should have no impact on prices. [Edited by: scu227 at 7/17/2012 8:36:42 AM EST]
fjkcpa Champion Author Houston Posts:4,511 Points:602,210 Joined:Nov 2005	Message Posted: Jul 17, 2012 8:34:54 AM Ignore fjkcpa Report Abuse Hmmm???...
WalRus49 Champion Author Boston Posts:4,075 Points:868,865 Joined:Nov 2010	Message Posted: Jul 17, 2012 8:30:12 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage................
pscamp Champion Author Ottawa Posts:3,277 Points:475,135 Joined:May 2011	Message Posted: Jul 17, 2012 8:29:16 AM Ignore pscamp Report Abuse Sigh...
dorisntx Champion Author Fort Worth Posts:2,079 Points:645,855 Joined:Apr 2011	Message Posted: Jul 17, 2012 8:28:14 AM Ignore dorisntx Report Abuse whatever
Dr Gas Champion Author Twin Cities Posts:3,268 Points:358,365 Joined:May 2004	Message Posted: Jul 17, 2012 8:22:06 AM Ignore Dr Gas Report Abuse HMMMMMmmmmmmm I'm going to start a very widely read ( fill in the blank). And then I'm going to make it appeal to Wall Street and everyone else. And I'm going to spread rumors for when I want to make more money. And I can control the oil and gas prices too! Seems easy enough. Oh and by the way, for those of you that don't live down here in the real world with the rest of us peasants, the QE's aren't working - stop it!
fltdoc Champion Author Oklahoma Posts:8,880 Points:1,555,720 Joined:Oct 2008	Message Posted: Jul 17, 2012 8:19:11 AM Ignore fltdoc Report Abuse Just what we need, Bernanke screwing around with the economy again.