I guess demand for gas grew last week?

[3Rfan]

The price of oil went up $10 a barrel so I know more demand must be the issue. Even though I'm quite sure demand NEVER dropped by over 50% like the price of oil had until a couple of days ago.

 

[millerbleach]

Demand is only part of the equation. Supply and speculation on future demand and supply also are factors.

 

[3Rfan]

The supply suddenly dropped after 6 months of falling prices? Did demand during that peroid drop over 50% like oil prices did before the increase this week?

 

[Stevedangos]

Did you see where the King of the largest oil exporting country in the world died ??

Besides price got too low, need it up around $70 a barrel so US companies can keep drilling and pumping. SUper low oil prices are not good for the USA either

 

[3Rfan]

I doubt if the King dying caused demand to go up or production to go down. The Middle East couldn't have been in much more turmoil than it has in the last year or two yet prices fell like a rock the last several months.

 

[3Rfan]

Gas at the Dexter WalMart Murphy station was $1.77 about 4:30 this afternoon when I went by. When I came back through Dexter about 10:00 tonight it was $1.99. In the last few days it's gone from $1.77 to $1.89 and $1.99 in P.B. depending on which place you go.

 

[wcowherd]

The new king of Saudi Arabia is expected to continue the practices of Abdullah, ie not cut supply and push opec not to do so either.
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