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GasBuddy News Article

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Oil rises as statements by US leaders raise hopes for a deal to avoid budget crisis

The Washington Post -- BANGKOK — The price of oil rose Thursday as U.S. leaders voiced optimism that a budget deal would be reached before the end of the year.

Benchmark crude for January delivery was up 34 cents to $86.83 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract dropped 69 cents to finish at $86.49 per barrel in New York.

Oil has traded in a narrow range this month as cautious investors await the outcome of budget talks in Washington. Without an agreement, huge tax hikes and spending cuts will automatically take effect Jan. 1 — the deadline dubbed the “fiscal cliff.”

Economists say that could push the U.S. back into a recession, and it would mean less demand for oil and other energy products. But Republican House Speaker John Boehner and


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Submitted Nov 29, 2012 By: angel4me
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REPLIES (newest first) Post a Reply
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kag2010
Champion Author Winnipeg

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Message Posted: Nov 30, 2012 2:08:29 PM

Not due to the health of the economy.
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DanMtz
Champion Author Oakland

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Message Posted: Nov 30, 2012 7:17:37 AM

It may take a while for this to play out.
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Lugi1967
Champion Author Ohio

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Message Posted: Nov 29, 2012 4:43:55 PM

Long ways to go
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19sheldon43
Champion Author Los Angeles

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Message Posted: Nov 29, 2012 1:47:52 PM

The cavalry is just over the next hill. I don't feel the Fiscal Cliff is going to fall
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ultm8opie
Champion Author Twin Cities

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Message Posted: Nov 29, 2012 1:08:25 PM

Cost should not go up until there is a shortage, not due to the health of the economy.
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idigau22
Champion Author Washington

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Message Posted: Nov 29, 2012 1:03:57 PM

Oil is selling at $88.04 per barrel right now. Better then $106.00!
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GryphonX
Champion Author Nevada

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Message Posted: Nov 29, 2012 1:01:01 PM

Well, shoot! Just when I thought we were going to get some relief ...
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bigLtowing
Champion Author Columbus

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Message Posted: Nov 29, 2012 12:58:33 PM

and how does the us budget effect gas prices just greed
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sickhp
Champion Author San Antonio

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Message Posted: Nov 29, 2012 12:58:20 PM

I am holding my breath.
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TheDix
Champion Author Ontario

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Message Posted: Nov 29, 2012 12:57:06 PM


We'll soon see .
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TFowler513
Champion Author Memphis

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Message Posted: Nov 29, 2012 12:55:26 PM

More propaganda for the masses!!!
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RAE344
Champion Author Virginia Beach

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Message Posted: Nov 29, 2012 12:53:42 PM

Another example how our leaders can influence the price of oil. So when they claim that they can't do anything, it is a bunch of male bovine poo.
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1Dano1
Champion Author Kansas

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Message Posted: Nov 29, 2012 12:51:09 PM

US Leaders. Okay enough said... Stop with the lies!!!
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paoli8
Champion Author Philadelphia

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Message Posted: Nov 29, 2012 12:47:52 PM

I'm not holding my breath
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WhiskersTheCat
Champion Author Austin

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Message Posted: Nov 29, 2012 12:47:33 PM

We already jumped off the cliff; we just haven't hit the bottom.
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bouncing4fun
All-Star Author Sacramento

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Message Posted: Nov 29, 2012 12:45:48 PM

Thanks for the info.
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GigHarborHound
Champion Author Tacoma

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Message Posted: Nov 29, 2012 12:44:29 PM

BS
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FlyNFool
Champion Author South Carolina

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Message Posted: Nov 29, 2012 12:44:24 PM

We shall soon see who gets the short end of the stick!
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tpguess
Champion Author San Diego

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Message Posted: Nov 29, 2012 12:43:46 PM

No matter which way it goes... the investors are making money... and the money they make comes from the gas prices we pay...
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WGW1
Champion Author British Columbia

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Message Posted: Nov 29, 2012 12:43:35 PM

Good news is bad news again.
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lezdar
Champion Author Los Angeles

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Message Posted: Nov 29, 2012 12:42:36 PM

After boehner spoke today-prices of oil drop as did stock market. Wonder who is paying him-short sellers?
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LQQKGAS
Champion Author Phoenix

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Message Posted: Nov 29, 2012 12:42:28 PM


How can this be? obuma said there is nothing that the U.S. can do about gas prices because it's a world economy.
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Guapo29
All-Star Author Michigan

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Message Posted: Nov 29, 2012 12:42:28 PM

Any excuse.
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milespergallon
Champion Author Illinois

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Message Posted: Nov 29, 2012 12:39:52 PM

Prices are raising because the specu-traitors need their CHRISTmas presents
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MarijkeCA
Sophomore Author San Bernardino

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Message Posted: Nov 29, 2012 12:38:38 PM

UP and Down!
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NorthglennBill
Champion Author Denver

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Message Posted: Nov 29, 2012 12:38:32 PM

Always a reason to try to raise prices. That is what speculators do.
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checkitnow
Champion Author Atlanta

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Message Posted: Nov 29, 2012 12:34:50 PM

obummer wants us to go off the 'cliff'
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IMLURCH
Champion Author Minnesota

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Message Posted: Nov 29, 2012 12:32:58 PM

SO when a deal is passed does that mean oil will sky rocket?
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SandeeC
Champion Author Ontario

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Message Posted: Nov 29, 2012 12:30:24 PM

Yeah, any excuse will do.
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silverfoxv65
Champion Author Michigan

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Message Posted: Nov 29, 2012 12:30:09 PM

Here we go again!
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BigDartMike
All-Star Author Ohio

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Message Posted: Nov 29, 2012 12:30:07 PM

I farted, there go prices! geez, what a racket!
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dockersbin
Veteran Author North Carolina

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Message Posted: Nov 29, 2012 12:30:01 PM

Shoot the speculators and maybe that would keep the prices a little more stable.
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oldiesman
Champion Author New York

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Message Posted: Nov 29, 2012 12:28:41 PM

All a big game and We the people are the pawns?

[Edited by: oldiesman at 11/29/2012 12:29:47 PM EST]
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sdiddydaddy
Champion Author Grand Rapids

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Message Posted: Nov 29, 2012 12:28:00 PM

Here we go again . . . back on the roller coaster. I guess I'll be filling up today before the jump.
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mageetp
Champion Author British Columbia

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Message Posted: Nov 29, 2012 12:24:15 PM

Good luck with this budget crisis.
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jjjleblanc
Champion Author Rochester

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Message Posted: Nov 29, 2012 12:23:53 PM

Just a hint of optimism seems to trigger higher prices based on the belief demand is higher.
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YodaON
Champion Author Ottawa

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Message Posted: Nov 29, 2012 12:23:15 PM

any excuse to get prices up
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HailstormCA
Champion Author San Diego

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Message Posted: Nov 29, 2012 12:23:06 PM

Help, we're going down...gurgle, gurgle, gurgle...
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jtravis711
Veteran Author Orange County

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Message Posted: Nov 29, 2012 12:22:08 PM

We all know how full of hot air politicians are, its just a sad case that we have not been able to plug into that for some real positive energy. Maybe instead of a whisper of Anarchy, we should be shouting out, instead of our hands out we should be standing up on our own. Rather than blaming and pointing the finger at others we should actually roll up our sleeves and do some real work.
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rwrMO
Champion Author Missouri

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Message Posted: Nov 29, 2012 12:21:03 PM

i do not think we ever came out of the recession.
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OOXXFF
Champion Author Greensboro

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Message Posted: Nov 29, 2012 12:20:19 PM

Oil prices know how to go up.
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pmc3
Champion Author Missouri

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Message Posted: Nov 29, 2012 12:18:55 PM

They should make all the Senators and Representatives stay there until a WORKABLE budget is developed!!
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bobsalwaysmt
Champion Author Long Island

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Message Posted: Nov 29, 2012 12:17:51 PM

Just one more "excuse".
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Toppers
Champion Author Atlanta

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Message Posted: Nov 29, 2012 12:17:41 PM

Hope it stays in the 80's
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F81M
Champion Author Indiana

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Joined:Aug 2008
Message Posted: Nov 29, 2012 12:17:19 PM

Can't believe positive things from DC would cause oil to rise.
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njerald
Champion Author Seattle

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Message Posted: Nov 29, 2012 12:15:10 PM

Bangkok????? Prices up and going higher...
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HEBster
Champion Author Kentucky

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Message Posted: Nov 29, 2012 12:14:02 PM

Dislike
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Wes1972
All-Star Author California

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Message Posted: Nov 29, 2012 12:11:51 PM

The fiscal cliff is minor compared to all the new taxes that Obamacare will be extracting from everyone. When the reality of paying for healthcare hits small employers more than a few will be laid off or cut back to part time.

The media is obsessed with pushing the "fiscal cliff" fear to keep the public from thinking about the miserable economy & unemployment. The politicians need to borrow more money to keep spending their way to prosperity and passing out more money to non producers.

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TAT36
Champion Author Florida

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Message Posted: Nov 29, 2012 12:09:06 PM

Trade one crisis for another? Seems like the manipulators are manipulating at their best.
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johton
Champion Author Seattle

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Message Posted: Nov 29, 2012 12:07:57 PM

Right on BoatP2Lee!!
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