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This should be good for our gas prices!

Old 03-18-2003, 01:29 PM
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Default This should be good for our gas prices!

April and May futures for Crude is down 2.50 to 3.00 per barrel

and unleaded gass futures are down about 7 cents per gallon.

I think knowing a little more of what is comeing in the Middle East and the fact that the strike in Venesuala (sp) is over and they are going to increase production above pre strike levels.
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Old 03-18-2003, 01:54 PM
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Lets hope that comes true....Fred
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Old 03-18-2003, 03:47 PM
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Crude oil was at $39.99 a barrel a week or so ago. The prices have dropped:

Brent crude oil for May delivery fell 83 cents to $29.30 per barrel on
London's International Petroleum Exchange, which was forced to close for two
hours when anti-war protesters raided the London market waving banners
saying "Oil fuels war." U.S. crude futures fell 68 cents to $34.70 per
barrel, some $6 short of their peak during the 1990-1991 Gulf crisis.

"The market believes the war will be short and quick, so there should be a
relatively soft landing for crude prices," said Charlie Luke at Aberdeen
Asset Management.

Now how long do you think oil companies will keep prices high? All summer is
my bet, then record profits at years end.

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Old 03-18-2003, 03:52 PM
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This would be one time I hope the goverment "asks" the oil companies to do the right thing.
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