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Oil Struggles For Clear Direction From $81.50

Reuters -- Oil failed to find momentum in either direction for a clear move away from $81.50 on Wednesday as investors waited for data on U.S. stocks or OPEC's monthly report ahead of next week's meeting to provide impetus.

U.S. crude for April delivery was flat at $81.49 by 1028 GMT (5:28 a.m. ET). It had earlier risen to within 80 cents of Monday's peak of $82.41, the highest level since prices jumped to a 15-month high of $83.95 on January 11. London ICE Brent for April edged up 7 cents to $79.98.

"There's a little bit of reticence about striking out one way or the other ... there's not enough information to herald decisively a bull run," said Paul Harris, head of energy and emissions at Bank of Ireland.

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Submitted Mar 10, 2010 By: stpetebp

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Fitwit Champion Author Stockton Posts:2,091 Points:456,130 Joined:May 2009	Message Posted: Mar 10, 2010 5:14:23 AM Ignore Fitwit Report Abuse Go west young man, go west, just don't park in California.
9C1 Champion Author Chicago Posts:17,710 Points:3,282,595 Joined:Jul 2001	Message Posted: Mar 10, 2010 5:12:37 AM Ignore 9C1 Report Abuse Gasoline has climbed 20 cents in the last week, just because. The price of crude has nothing to do with it.
PurduePete86 All-Star Author Indiana Posts:910 Points:639,540 Joined:Apr 2007	Message Posted: Mar 10, 2010 5:11:52 AM Ignore PurduePete86 Report Abuse Doesn't matter oil seems to have little effect on gas prices when it goes down. But it sure does affect prices when it goes up.
Masercal Champion Author Michigan Posts:3,610 Points:780,740 Joined:Oct 2007	Message Posted: Mar 10, 2010 5:11:22 AM Ignore Masercal Report Abuse Continue to conserve and make the move to renewable and alternative energy today.
dabayer All-Star Author New Hampshire Posts:720 Points:228,685 Joined:Oct 2005	Message Posted: Mar 10, 2010 5:11:22 AM Ignore dabayer Report Abuse The only problem is "as investors waited for data". INVESTORS/SPECULATORS: GET OUT OF OIL. You are fleecing your pockets off our backs, crumbling the US economy, are a national security risk, and all governments do NOTHING about it.
mrbee All-Star Author Little Rock Posts:569 Points:1,529,455 Joined:Oct 2005	Message Posted: Mar 10, 2010 5:06:38 AM Ignore mrbee Report Abuse Down. Now there is a suggestion.
CSharpGuy Champion Author Colorado Springs Posts:4,579 Points:929,560 Joined:Jan 2008	Message Posted: Mar 10, 2010 5:06:31 AM Ignore CSharpGuy Report Abuse I'll direct it. Elect me.
rocket_ron Champion Author Grand Rapids Posts:1,428 Points:1,043,890 Joined:Jul 2006	Message Posted: Mar 10, 2010 5:04:11 AM Ignore rocket_ron Report Abuse Maybe we should help that "struggling" oil.....
ironbox_sara Champion Author Albany Posts:4,726 Points:1,298,150 Joined:Mar 2006	Message Posted: Mar 10, 2010 5:01:04 AM Ignore ironbox_sara Report Abuse Blah, blah, blah.
eromitlab Champion Author Huntsville Posts:4,028 Points:822,690 Joined:May 2008	Message Posted: Mar 10, 2010 5:00:58 AM Ignore eromitlab Report Abuse No hopes and wishes to pump the price up or reality to bring it back down?
cigarman409 All-Star Author Massachusetts Posts:827 Points:881,465 Joined:Jul 2007	Message Posted: Mar 10, 2010 5:00:11 AM Ignore cigarman409 Report Abuse abuck is right! needs to go down
Conan1 Sophomore Author Kentucky Posts:143 Points:269,400 Joined:Apr 2008	Message Posted: Mar 10, 2010 4:58:23 AM Ignore Conan1 Report Abuse Hmmmmmm, Sometimes I wish I never learned to read.
abuck Champion Author Pittsburgh Posts:3,309 Points:593,095 Joined:Jul 2008	Message Posted: Mar 10, 2010 4:56:43 AM Ignore abuck Report Abuse I'll give you the direction I want - DOWN
speedys Champion Author Utah Posts:2,111 Points:1,586,020 Joined:Nov 2005	Message Posted: Mar 10, 2010 4:53:16 AM Ignore speedys Report Abuse You got it correct "Baron62nd".
moody4u Champion Author Cincinnati Posts:2,999 Points:579,025 Joined:Oct 2008	Message Posted: Mar 10, 2010 4:52:55 AM Ignore moody4u Report Abuse Lies & GREED !
weenerdog Champion Author Detroit Posts:4,938 Points:943,020 Joined:Jan 2008	Message Posted: Mar 10, 2010 4:51:26 AM Ignore weenerdog Report Abuse the direction should be down
NJColt Champion Author New Jersey Posts:7,865 Points:1,676,480 Joined:Aug 2005	Message Posted: Mar 10, 2010 4:51:15 AM Ignore NJColt Report Abuse HERE's your direction!
lucky69 Champion Author Austin Posts:1,784 Points:631,370 Joined:May 2008	Message Posted: Mar 10, 2010 4:51:09 AM Ignore lucky69 Report Abuse Gas prices are nearing the high of the year
FieroGT Champion Author Twin Cities Posts:9,512 Points:1,658,270 Joined:Mar 2005	Message Posted: Mar 10, 2010 4:50:44 AM Ignore FieroGT Report Abuse If it wasn't for the speculators and the Saudis the price of oil would go down closer to what it should be ... like $50/b.
Baron62nd Champion Author Illinois Posts:2,554 Points:761,615 Joined:Sep 2007	Message Posted: Mar 10, 2010 4:50:17 AM Ignore Baron62nd Report Abuse How can oil "struggle" and "fail to find momentum" when it is an inanimate object? I think it should read "speculators struggle for higher prices" and "fail to create the momentum they desire".
curlypooh Champion Author New Jersey Posts:4,959 Points:1,038,140 Joined:Apr 2007	Message Posted: Mar 10, 2010 4:48:37 AM Ignore curlypooh Report Abuse How about down, a whole lot, for a change
gabbygusIN Champion Author Indiana Posts:2,385 Points:599,050 Joined:Oct 2008	Message Posted: Mar 10, 2010 4:48:36 AM Ignore gabbygusIN Report Abuse These high prices are speculator driven!!
bumpygas Champion Author Nebraska Posts:3,530 Points:963,400 Joined:Oct 2007	Message Posted: Mar 10, 2010 4:44:41 AM Ignore bumpygas Report Abuse In my book it should be struggeling at $21.50 and it probably would be if it weren't for the egg-headed speculators that have only one thing in mind.
MahopacJack Champion Author New York Posts:3,081 Points:724,155 Joined:Feb 2008	Message Posted: Mar 10, 2010 4:43:11 AM Ignore MahopacJack Report Abuse Much ado about nothing. Stable commodity prices usually mean the US Dollar is also stable,
cv Champion Author Raleigh Posts:10,269 Points:2,293,080 Joined:Oct 2003	Message Posted: Mar 10, 2010 4:42:51 AM Ignore cv Report Abuse Rumors and more rumors to keep fuel prices high despite the lower demand.
tankneverfull Champion Author Charlotte Posts:4,252 Points:832,420 Joined:Apr 2008	Message Posted: Mar 10, 2010 4:41:56 AM Ignore tankneverfull Report Abuse Oil and struggle are two words that should never be used together.
ThatHunt Champion Author Dallas Posts:2,620 Points:1,228,655 Joined:Jul 2006	Message Posted: Mar 10, 2010 4:41:40 AM Ignore ThatHunt Report Abuse I see an increase by OPEC
silverfox63 Champion Author Michigan Posts:3,364 Points:672,670 Joined:Oct 2008	Message Posted: Mar 10, 2010 4:41:29 AM Ignore silverfox63 Report Abuse With the speculators involved, the price will likely keep going up through the year.
dhawk24 Champion Author Maine Posts:3,078 Points:677,330 Joined:Jul 2008	Message Posted: Mar 10, 2010 4:40:47 AM Ignore dhawk24 Report Abuse Speculators suck...
Beboper Champion Author Virginia Posts:3,782 Points:1,188,360 Joined:Oct 2005	Message Posted: Mar 10, 2010 4:39:12 AM Ignore Beboper Report Abuse well greed liked this story
plbell627 Champion Author Dayton Posts:1,018 Points:301,795 Joined:Mar 2007	Message Posted: Mar 10, 2010 4:37:24 AM Ignore plbell627 Report Abuse Keep the speculators with new controls and the price will fall, but if we don't watch it will definately go UP.
RoadhogMA Champion Author Boston Posts:2,099 Points:478,575 Joined:Dec 2008	Message Posted: Mar 10, 2010 4:37:02 AM Ignore RoadhogMA Report Abuse 50.00 a barrel overpriced . Looks like somebody knows what there doing
RichardoB Champion Author Fayetteville Posts:2,988 Points:1,070,110 Joined:Jun 2007	Message Posted: Mar 10, 2010 4:35:41 AM Ignore RichardoB Report Abuse A useless article except to speculators.
Don1222 Champion Author Michigan Posts:6,234 Points:766,905 Joined:Jul 2008	Message Posted: Mar 10, 2010 4:35:38 AM Ignore Don1222 Report Abuse Support Alternative Fuels.
AvantiMick Champion Author Indiana Posts:8,036 Points:1,605,370 Joined:Dec 2005	Message Posted: Mar 10, 2010 4:34:57 AM Ignore AvantiMick Report Abuse "Oil struggles"!? How about the consumers that are out of work and cannot afford to fill their gas tanks? Oil only struggles to figure out how much they can get by with when screwing the public!!!
colt453162 All-Star Author Houston Posts:625 Points:305,170 Joined:Mar 2008	Message Posted: Mar 10, 2010 4:34:22 AM Ignore colt453162 Report Abuse It needs to be heading in the down direction.
DJRIO Champion Author Miami Posts:2,500 Points:460,525 Joined:Jan 2008	Message Posted: Mar 10, 2010 4:34:03 AM Ignore DJRIO Report Abuse time will tell
dave364 Champion Author Lansing Posts:1,329 Points:538,025 Joined:Nov 2007	Message Posted: Mar 10, 2010 4:33:44 AM Ignore dave364 Report Abuse when cows can fly that is when they will work it out
gasandgoAL Champion Author Alabama Posts:1,956 Points:615,355 Joined:Sep 2008	Message Posted: Mar 10, 2010 4:32:19 AM Ignore gasandgoAL Report Abuse up is a shorter word in numbers than down
Redink Champion Author Indianapolis Posts:2,453 Points:468,695 Joined:Aug 2005	Message Posted: Mar 10, 2010 4:31:54 AM Ignore Redink Report Abuse Oil companies want up so they can pad their profits.
03mdx Champion Author Syracuse Posts:1,974 Points:629,390 Joined:Sep 2008	Message Posted: Mar 10, 2010 4:31:36 AM Ignore 03mdx Report Abuse I don't think there is clear direction for oil. It is ever changing thanks to greed and speculators.
I35guy Sophomore Author Des Moines Posts:247 Points:607,785 Joined:Jan 2004	Message Posted: Mar 10, 2010 4:30:47 AM Ignore I35guy Report Abuse Like being down in the bottom of the barrel . . . nowhere to go but up!
rogerparry Champion Author Florida Posts:4,629 Points:942,480 Joined:Jan 2008	Message Posted: Mar 10, 2010 4:29:26 AM Ignore rogerparry Report Abuse What? The speculators didn't know what to do?
pgerassi Champion Author Milwaukee Posts:5,969 Points:1,171,220 Joined:Apr 2007	Message Posted: Mar 10, 2010 4:28:55 AM Ignore pgerassi Report Abuse Same baloney, different day.
Ringmaster2008 Champion Author Ontario Posts:2,957 Points:504,610 Joined:Apr 2008	Message Posted: Mar 10, 2010 4:28:43 AM Ignore Ringmaster2008 Report Abuse So the speculators don't know either. How is this news?
packards42 Champion Author Washington Posts:1,688 Points:307,255 Joined:Feb 2005	Message Posted: Mar 10, 2010 4:27:05 AM Ignore packards42 Report Abuse It a shell games the dealers know where their are going to Steer crude, just ask OPEC, it close to their sweet spots. Above the Saudi target so will it hold, or continue to climb.
fordfan1 Champion Author Indiana Posts:4,204 Points:918,115 Joined:Jul 2007	Message Posted: Mar 10, 2010 4:25:19 AM Ignore fordfan1 Report Abuse It is still $50.00 dollars a barrel to high for the current demand!
mandoid Champion Author Colorado Springs Posts:2,896 Points:617,620 Joined:May 2008	Message Posted: Mar 10, 2010 4:22:59 AM Ignore mandoid Report Abuse another day another price