# Anyone see the huge drop in oil today?



## invision (Aug 14, 2012)

Heard trading volume went from 500 contracts to over 12,000 in a minute, and lost $3 in that minute... Wow


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## Dawgbone (Sep 18, 2012)

Fell on rumors that Gov was going to release reserves to push commodities down after Fed announce never ending QE3 (inflationary)


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## Immolatus (Feb 20, 2011)

I heard a couple of things, the SPR release, and the S4uds were going to increase output to reduce the price.


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## invision (Aug 14, 2012)

Interesting read.. After I posted, fox business had a guy who is in charge of oil trading and the investigation into the downward spike, he said it was from the cheetah (super fast trading systems) that brokers are starting to use, but are still "unstable".


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## Jim1590 (Jul 11, 2012)

Didn't see it, bet I won't see the drop at the pump either. But in the same vein, I have a family member that works at a grocery store. When she is ASKED to by the customer, she scans her rewards card. Her husband filled up at $2.57 a gallon the other day. Gas was at $4.07. She said one of her co-workers has hit the $5 savings mark.


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## The_Blob (Dec 24, 2008)

Immolatus said:


> I heard a couple of things, the SPR release, and the S4uds were going to increase output to reduce the price.


ANY time a FOREIGN POWER 'backs' a candidate, I would LIKE to think that would be a 'red flag' to the American voter... but once again I am NOT optimistic.  :gaah:


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## invision (Aug 14, 2012)

Agree with you there... Wonder if it is not a ploy, tinfoil hat time. But seriously, I have seen a .10 drop in the last 2 days for gas. If they can pump it down, what is to keep them from pushing the price back up even higher post election? Iran wants $150/barrel, OPEC wants $100/barrel, Saudi is lowing it to $90 or lower?!?


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## Immolatus (Feb 20, 2011)

Their reasoning is that expensive oil is bad for everyone in general because it kills the economy. They are so thoughtful! It makes me all warm and fuzzy inside to think that the King is looking out for the little guy! I wish _I_ could hold his hand!


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