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Crude Rises 2% Following Bernanke Remarks

Dow Jones Newswires --
Oil prices rose 2% on Friday after a closely watched speech by the Federal Reserve chairman that left the door open to additional stimulus, but stopped short of announcing a specific plan.

Oil futures for October on the New York Mercantile Exchange settled at $96.47 a barrel, up $1.85, or 2%. Brent oil futures for October settled at $114.57 a barrel, up $1.92, or 1.7%.

Market participants said Federal Reserve Chairman Ben Bernanke's speech contained enough signals that the Fed would act to push crude and other commodities higher.

"It's just a big all-around commodities-up day," said Fred Rigolini, vice president at Paramount Options. "Any time there's talk of stimulus, it's bullish for oil."

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Submitted Sep 01, 2012 By: RENEGADEGAS

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honda0105 Champion Author Tallahassee Posts:18,811 Points:1,635,270 Joined:Nov 2008	Message Posted: Sep 5, 2012 12:07:39 AM Ignore honda0105 Report Abuse lots of specutraitors coughing?
DrCashFlow Champion Author Massachusetts Posts:7,196 Points:1,652,875 Joined:Jun 2008	Message Posted: Sep 3, 2012 4:29:35 AM Ignore DrCashFlow Report Abuse Noise
Ticobird Champion Author Huntsville Posts:3,319 Points:1,135,430 Joined:Oct 2009	Message Posted: Sep 1, 2012 7:23:36 PM Ignore Ticobird Report Abuse Gas prices up or down, nobody really knows what is going to happen all of the time. I'm amused the media even tries to make us believe they know and are passing along inside information to us.
Pramodsharma Champion Author Richmond Posts:2,094 Points:411,190 Joined:Feb 2012	Message Posted: Sep 1, 2012 6:58:07 PM Ignore Pramodsharma Report Abuse When we have economy expert friends like Bernanke we do not need enemy!
Night Owl Champion Author Toronto Posts:7,680 Points:1,812,950 Joined:Jul 2004	Message Posted: Sep 1, 2012 3:55:33 PM Ignore Night Owl Report Abuse Greedy oil speculators continue to set the price of oil to whatever they feel like.
gknee09 Champion Author Philadelphia Posts:1,001 Points:843,735 Joined:Jul 2009	Message Posted: Sep 1, 2012 3:15:16 PM Ignore gknee09 Report Abuse he pulled the strings and the puppets danced
JPGASMAN Champion Author Ohio Posts:1,656 Points:368,615 Joined:Mar 2012	Message Posted: Sep 1, 2012 2:32:12 PM Ignore JPGASMAN Report Abuse k
Jeffro61 Champion Author Cleveland Posts:2,398 Points:2,308,995 Joined:Oct 2005	Message Posted: Sep 1, 2012 2:29:38 PM Ignore Jeffro61 Report Abuse Speculation
caddilac Champion Author Ontario Posts:16,743 Points:2,165,455 Joined:Apr 2007	Message Posted: Sep 1, 2012 2:08:33 PM Ignore caddilac Report Abuse "Any time there's talk of stimulus, it's bullish for oil." "Any time there's talk by a government agency it is always BULL.
BudsterMO Champion Author Kansas City Posts:3,840 Points:729,680 Joined:Aug 2009	Message Posted: Sep 1, 2012 1:59:55 PM Ignore BudsterMO Report Abuse Stop Oil Speculation (SOS) NOW!
gamalerin Champion Author Tampa Posts:4,872 Points:1,018,060 Joined:Jul 2010	Message Posted: Sep 1, 2012 1:54:52 PM Ignore gamalerin Report Abuse Thanks Bernanke,You gave them a reason to rise the price again.
genie_racing Champion Author Colorado Posts:6,253 Points:833,805 Joined:Jul 2006	Message Posted: Sep 1, 2012 1:53:15 PM Ignore genie_racing Report Abuse Maybe Bernanke should keep his mouth shut? Maybe they ALL should keep their mouths shut.
SUV2009 Champion Author Orlando Posts:4,483 Points:1,164,265 Joined:Oct 2009	Message Posted: Sep 1, 2012 1:45:55 PM Ignore SUV2009 Report Abuse ok
snappytom2 Champion Author Corpus Christi Posts:3,634 Points:278,955 Joined:Jul 2008	Message Posted: Sep 1, 2012 1:43:28 PM Ignore snappytom2 Report Abuse You can hear the Wall Street pigs gorging themselves at the money trough.
njerald Champion Author Seattle Posts:7,954 Points:1,648,825 Joined:Oct 2007	Message Posted: Sep 1, 2012 1:39:58 PM Ignore njerald Report Abuse It's just the Liberal Way
Hangnail309 Champion Author Manitoba Posts:6,153 Points:1,702,910 Joined:Aug 2006	Message Posted: Sep 1, 2012 1:37:48 PM Ignore Hangnail309 Report Abuse no end of excuses why gas prices go up and not down!
10k Champion Author North Carolina Posts:21,470 Points:2,279,770 Joined:May 2006	Message Posted: Sep 1, 2012 1:36:01 PM Ignore 10k Report Abuse bigrigAZ: h*ll yeah..i sure wish your governor had run against the dictator-in-chief this year..i don't live in arizona, but she sounds like she has sense, and most of all A LOVE FOR THE UNITED STATES..y'alls terrorist president has A LOVE TO UN-UNITE THE UNITED STATES.. legal, intelligent voters only pls this november..
INBwana Champion Author Indiana Posts:5,692 Points:721,735 Joined:Apr 2011	Message Posted: Sep 1, 2012 1:36:00 PM Ignore INBwana Report Abuse Up and Down, down and up. Who knows what it will be tomorrow?
Sam195 Champion Author San Bernardino Posts:8,220 Points:1,600,825 Joined:Oct 2008	Message Posted: Sep 1, 2012 1:35:58 PM Ignore Sam195 Report Abuse Another early Christmas present from the Federal Reserve Bank.
IMLURCH Champion Author Minnesota Posts:2,314 Points:1,128,930 Joined:Mar 2009	Message Posted: Sep 1, 2012 1:35:15 PM Ignore IMLURCH Report Abuse Consumers get it stuck in their rears again.
Lizzylou Champion Author Stockton Posts:8,818 Points:2,357,285 Joined:Oct 2005	Message Posted: Sep 1, 2012 1:33:28 PM Ignore Lizzylou Report Abuse NOT GOOD TO HEAR!
jd2009 Champion Author Honolulu Posts:4,269 Points:1,312,680 Joined:Jan 2009	Message Posted: Sep 1, 2012 1:32:17 PM Ignore jd2009 Report Abuse Ok
McClintock853 Rookie Author Omaha Posts:30 Points:201,340 Joined:Jun 2011	Message Posted: Sep 1, 2012 1:31:24 PM Ignore McClintock853 Report Abuse Like I have always said, "Saddle Up" - ride a horse.
oldiesman Champion Author New York Posts:6,556 Points:2,219,640 Joined:May 2006	Message Posted: Sep 1, 2012 1:31:02 PM Ignore oldiesman Report Abuse Bernanke speaks with forked tongue, don't trust.
CheckitoutGuy Champion Author San Diego Posts:1,311 Points:772,890 Joined:Mar 2008	Message Posted: Sep 1, 2012 1:30:51 PM Ignore CheckitoutGuy Report Abuse One good thing with a change in national administration - Bernanke might not be back!
H2OBurner Champion Author Utah Posts:2,059 Points:732,735 Joined:Sep 2006	Message Posted: Sep 1, 2012 1:25:45 PM Ignore H2OBurner Report Abuse k
chyguy3 Champion Author Wyoming Posts:2,855 Points:860,590 Joined:Sep 2006	Message Posted: Sep 1, 2012 1:24:51 PM Ignore chyguy3 Report Abuse Agreed in toto, bigrigaz.
beachmanglen All-Star Author Tampa Posts:764 Points:519,925 Joined:Aug 2011	Message Posted: Sep 1, 2012 1:24:47 PM Ignore beachmanglen Report Abuse I agree, Bernanke needs to go.
bigrigAZ Champion Author Phoenix Posts:1,818 Points:1,069,860 Joined:Jul 2008	Message Posted: Sep 1, 2012 1:22:18 PM Ignore bigrigAZ Report Abuse Bernanke should keep out of it. "talk of stimulus is bullsh** for the people. 2 million jobs - where? In the federal gov't where they get 6 figure salaries. Lots of people unemployed in the last 3 1/2 years and people like Bernanke spread Bull because it doesn't affect him. Taxpayers pay for all the gas used in washington and then have to pay more at the pump. They should be able to pay for their own cars and gas when the money that they get overpaid for. Millions of dollars for Air Force one and two and helicopters and motor homes to drag all the deadweights in gov't to parties and Hawaii in winter and million dollar vacations. If you work for a company and you have to use your own car you can get mileage reimbursement so much per mile. This is not good enough for politians. VOTE SMART in NOVEMBER.
BumpinButch Champion Author Texas Posts:1,736 Points:535,050 Joined:Feb 2009	Message Posted: Sep 1, 2012 1:20:45 PM Ignore BumpinButch Report Abuse Bicycle rides to work and trips anyone? Or $5.00 gas per gallon in the cars/trucks/suvs?
Double_Golden Champion Author San Francisco Posts:2,690 Points:631,135 Joined:Aug 2011	Message Posted: Sep 1, 2012 1:19:53 PM Ignore Double_Golden Report Abuse we need another chairman of Fed. Reserve...
ARCO Champion Author Pittsburgh Posts:2,468 Points:2,401,170 Joined:Sep 2005	Message Posted: Sep 1, 2012 1:19:51 PM Ignore ARCO Report Abuse JUST CRAZY
me2002 All-Star Author Toledo Posts:763 Points:319,205 Joined:Dec 2011	Message Posted: Sep 1, 2012 1:19:39 PM Ignore me2002 Report Abuse Near 50 cents per gallon here for labor day.
muquee Champion Author Harrisburg Posts:2,530 Points:546,750 Joined:Nov 2011	Message Posted: Sep 1, 2012 1:19:29 PM Ignore muquee Report Abuse 2% equals much more to us.
nemoFL Champion Author Florida Posts:8,931 Points:1,636,025 Joined:Oct 2008	Message Posted: Sep 1, 2012 1:16:18 PM Ignore nemoFL Report Abuse 10% 0n pump prices then
zaq001 Champion Author Atlanta Posts:4,109 Points:1,498,805 Joined:Oct 2008	Message Posted: Sep 1, 2012 1:14:58 PM Ignore zaq001 Report Abuse ok
2gjh Champion Author North Dakota Posts:3,174 Points:2,447,600 Joined:Nov 2003	Message Posted: Sep 1, 2012 1:14:23 PM Ignore 2gjh Report Abuse speculation
slayur Champion Author Chicago Posts:1,534 Points:1,237,490 Joined:Sep 2005	Message Posted: Sep 1, 2012 1:13:32 PM Ignore slayur Report Abuse GREEEEEED
crmedic Champion Author Arkansas Posts:2,899 Points:247,500 Joined:Jul 2011	Message Posted: Sep 1, 2012 1:13:10 PM Ignore crmedic Report Abuse Who would have thought it?
032946 Champion Author Twin Cities Posts:19,994 Points:4,069,795 Joined:Oct 2001	Message Posted: Sep 1, 2012 1:12:36 PM Ignore 032946 Report Abuse Nothing but speculation and GREED!
ggordo Champion Author Long Island Posts:1,805 Points:380,430 Joined:Apr 2012	Message Posted: Sep 1, 2012 1:11:35 PM Ignore ggordo Report Abuse the greed continues
arcaneradio Champion Author Michigan Posts:2,635 Points:512,990 Joined:Dec 2010	Message Posted: Sep 1, 2012 1:10:18 PM Ignore arcaneradio Report Abuse k
Cachase1 Champion Author Oklahoma City Posts:11,579 Points:2,405,835 Joined:Aug 2003	Message Posted: Sep 1, 2012 1:10:16 PM Ignore Cachase1 Report Abuse It will be impossible to obtain an economic recover with high energy prices.
rjoeh Champion Author Michigan Posts:7,202 Points:2,495,590 Joined:Jun 2004	Message Posted: Sep 1, 2012 1:10:06 PM Ignore rjoeh Report Abuse Sounds like anorher misspeak by the current administration.
TopGunn Champion Author Baltimore Posts:9,316 Points:2,642,030 Joined:Aug 2004	Message Posted: Sep 1, 2012 1:08:58 PM Ignore TopGunn Report Abuse GREEDY speculators in action - still!
GLM4205 Champion Author Toledo Posts:4,177 Points:824,095 Joined:Dec 2010	Message Posted: Sep 1, 2012 1:08:08 PM Ignore GLM4205 Report Abuse Bernanke should keep his mouth shut and his printing presses off!!
FuelOilOH Champion Author Cleveland Posts:2,842 Points:1,184,595 Joined:Oct 2007	Message Posted: Sep 1, 2012 1:04:50 PM Ignore FuelOilOH Report Abuse It would be funny if after Romney (I hope) gets elected crude future start to fall as if they're shaking in their boots.
littlebigboy Veteran Author South Dakota Posts:406 Points:1,394,820 Joined:May 2007	Message Posted: Sep 1, 2012 1:04:44 PM Ignore littlebigboy Report Abuse He is lost and should just keep his mouth shut
AC-302 Champion Author Los Angeles Posts:26,840 Points:2,927,320 Joined:Aug 2004	Message Posted: Sep 1, 2012 12:59:48 PM Ignore AC-302 Report Abuse Wait, wait.. we're going to have a stimulus package when we're broke and overspending by a trillion bucks a year. Huh?
clpassenubye Champion Author Los Angeles Posts:3,374 Points:775,180 Joined:Mar 2011	Message Posted: Sep 1, 2012 12:59:03 PM Ignore clpassenubye Report Abuse why?