Not Logged In Log In   Sign Up   Points Leaders
Follow Us    12:43 PM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil prices fall below $89 as US posts weakest manufacturing since July 2009 Back to Topics
angel4me

Champion Author
San Jose

Posts:2,814
Points:841,745
Joined:Dec 2010
Message Posted: Dec 4, 2012 3:45:04 AM

BANGKOK – Worries about the U.S. economy following the release of a disappointing manufacturing report sent oil prices lower Tuesday.

Benchmark crude for January delivery was down 27 cents to $88.82 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract finished up 18 cents at $89.09 a barrel on the Nymex on Monday.

Manufacturing the U.S. shrank in November to its weakest level since July 2009, a trade group said Monday, because companies are worried about the "fiscal cliff" — sharp tax increases and spending cuts that take effect in 2013 unless U.S. political leaders strike a budget deal before then.

Flaring tensions in the Middle East, including Egypt's widening political crisis and reports that Syria may be readying its chemical and
Visit Fox News for full article
REPLIES (newest first) Post a Reply
Profile Pic
Gnusman53
Champion Author San Diego

Posts:11,810
Points:1,962,350
Joined:Feb 2004
Message Posted: Dec 6, 2012 10:25:47 AM

Seems the "trade group" from Australia must be listening to Fox News.... rather than dealing in facts...
Profile Pic
esq262
Champion Author Asheville

Posts:6,069
Points:1,517,410
Joined:Jul 2011
Message Posted: Dec 4, 2012 10:02:58 PM

Let's see it at the pump.
Profile Pic
eomc17
Champion Author Tucson

Posts:2,218
Points:158,010
Joined:Mar 2007
Message Posted: Dec 4, 2012 8:34:26 PM

WE ALL KNOW THAT OIL AND GASOLINE ARE WAY OVERPRICED!!! It doesn't matter who reports this garbage. The writers write this garbage to make the article look like we are getting gasoline at bargain prices when the national average for the year will break last year's record for the highest annual average in our HISTORY!!!
Profile Pic
bwatchingu
Champion Author Arkansas

Posts:5,189
Points:1,461,050
Joined:Jan 2009
Message Posted: Dec 4, 2012 5:47:44 PM

Using same excuses to go and to go down.
Profile Pic
Dr Gas
Champion Author Twin Cities

Posts:4,180
Points:450,920
Joined:May 2004
Message Posted: Dec 4, 2012 12:29:25 PM

Wait - this is from FOX news Bangkok ??
Couldn't get it from a US source??
Profile Pic
Mota
Sophomore Author Tampa

Posts:102
Points:172,000
Joined:Mar 2006
Message Posted: Dec 4, 2012 11:09:23 AM

A weak manufacturing level measurement is a BAD indicator of things to come.
Profile Pic
scu227
Champion Author New Haven

Posts:9,098
Points:1,622,255
Joined:Feb 2011
Message Posted: Dec 4, 2012 10:48:38 AM

Not low enough !!!
Profile Pic
Jeff4U
Champion Author Atlanta

Posts:12,566
Points:2,722,920
Joined:Nov 2004
Message Posted: Dec 4, 2012 10:14:34 AM

Crude is now at $88.24 (-.89) ... severely overpriced.
Profile Pic
brbaritone
Champion Author Virginia

Posts:4,468
Points:2,514,075
Joined:Jan 2007
Message Posted: Dec 4, 2012 10:11:00 AM

With economic activity struggling to stay out of recession and supply 'above the average range,' why is oil above $50? (You only get one guess.)
Profile Pic
Gnusman53
Champion Author San Diego

Posts:11,810
Points:1,962,350
Joined:Feb 2004
Message Posted: Dec 4, 2012 9:56:14 AM

Seems Humle needs to improve his reading COMPREHENSION skills (grin)...
Profile Pic
Gnusman53
Champion Author San Diego

Posts:11,810
Points:1,962,350
Joined:Feb 2004
Message Posted: Dec 4, 2012 9:53:18 AM

Another faux news piece of pompous propaganda.....

Has a hidden truth.... (grin) ... the fiscal cliff of the GOP... (aka protect the special class from paying any taxes....)

What is funny.... Faux News is saying that lower oil prices are hurting the economy (grin)...
Profile Pic
leraar2
Champion Author Massachusetts

Posts:7,200
Points:1,621,610
Joined:Mar 2011
Message Posted: Dec 4, 2012 9:51:30 AM

not dropping fast or far enough.
Profile Pic
werich44
Champion Author California

Posts:5,391
Points:1,347,460
Joined:Jun 2011
Message Posted: Dec 4, 2012 9:49:52 AM

Here we go again!
Profile Pic
BUSMAN1105
Champion Author Atlanta

Posts:4,272
Points:1,908,360
Joined:Aug 2008
Message Posted: Dec 4, 2012 9:24:18 AM

THAT'S GREAT NEWS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Profile Pic
merlinCO
Champion Author Colorado

Posts:5,125
Points:1,180,665
Joined:Mar 2012
Message Posted: Dec 4, 2012 8:50:09 AM

Trying to understand how a manufacturing report effects the price of oil today....ok in 3 years, but not today. Get the speculators out of the market.
Profile Pic
sabre75
Champion Author Florida

Posts:1,691
Points:357,760
Joined:May 2012
Message Posted: Dec 4, 2012 8:39:38 AM

Trying to understand what Bangkok market has to do with US market??
Profile Pic
Hawg1408
Champion Author Alberta

Posts:1,027
Points:1,223,350
Joined:May 2010
Message Posted: Dec 4, 2012 8:34:38 AM

Oh well, someone is still making huge profits even at this price. Should be lower yet.
Profile Pic
ClarkSC
Champion Author South Carolina

Posts:6,096
Points:1,873,630
Joined:May 2010
Message Posted: Dec 4, 2012 8:30:52 AM

Thank you, Obama.
Profile Pic
SycamoreISU
Champion Author Indiana

Posts:1,271
Points:824,670
Joined:Jan 2012
Message Posted: Dec 4, 2012 8:12:25 AM

Many companies announced layoffs immediately after the election.
Profile Pic
Yooperheart
Champion Author Michigan

Posts:7,415
Points:1,384,650
Joined:Feb 2010
Message Posted: Dec 4, 2012 8:02:31 AM

Slight dip before Christmas travel, as usual. Then New Years jump.
Profile Pic
amerk73
Champion Author Dallas

Posts:10,487
Points:2,459,820
Joined:Oct 2008
Message Posted: Dec 4, 2012 7:45:11 AM

WTI Crude Oil now at
$88.70
Profile Pic
gfox4810
Champion Author Kalamazoo

Posts:3,208
Points:1,184,000
Joined:Jul 2011
Message Posted: Dec 4, 2012 7:01:00 AM

Good news for oil prices ...bad news for manufacturing jobs.
Profile Pic
MImusicman
Champion Author Michigan

Posts:5,378
Points:1,297,675
Joined:Mar 2012
Message Posted: Dec 4, 2012 6:59:04 AM

yeah oil...bad manufacturing
Profile Pic
hokieburgh
Champion Author Virginia

Posts:1,880
Points:1,202,055
Joined:Feb 2007
Message Posted: Dec 4, 2012 6:54:40 AM

just fall baby!
Profile Pic
cheap59
Champion Author Michigan

Posts:5,288
Points:1,697,245
Joined:May 2010
Message Posted: Dec 4, 2012 6:49:06 AM

Keep falling.
Profile Pic
dandvicb
Champion Author Bridgeport

Posts:3,489
Points:1,842,605
Joined:Jul 2004
Message Posted: Dec 4, 2012 6:44:35 AM

oil down...... gas up
Profile Pic
gs7101
Champion Author San Antonio

Posts:8,620
Points:586,985
Joined:Jun 2009
Message Posted: Dec 4, 2012 6:40:54 AM

The merry-go-round oil prices continues!
Profile Pic
335d1
Champion Author Virginia

Posts:5,866
Points:1,599,370
Joined:Feb 2011
Message Posted: Dec 4, 2012 6:20:03 AM

What!??!! Nothing about the Middle East?
Profile Pic
Straitliner
Champion Author Illinois

Posts:5,065
Points:1,081,135
Joined:Sep 2012
Message Posted: Dec 4, 2012 6:17:52 AM

Yet the gas jumps 22 cents a gal yesterday here.
Profile Pic
pscamp
Champion Author Ottawa

Posts:7,751
Points:1,155,840
Joined:May 2011
Message Posted: Dec 4, 2012 6:13:10 AM

OK
Profile Pic
grandpadon28110
Champion Author Charlotte

Posts:8,198
Points:1,986,640
Joined:Sep 2008
Message Posted: Dec 4, 2012 6:10:41 AM

It is time for them to get together.
Profile Pic
StArrow68
Champion Author Oakland

Posts:6,738
Points:2,229,440
Joined:Apr 2003
Message Posted: Dec 4, 2012 6:05:27 AM

The analyst or Fox need some remedial math. It either went down .27 to 88.82, therefore starting at 89.09 and ended unchanged or it went up .18 from some other level to 89.09 but it would be hard to do both. Whatever the change it sounds fairly unchanged from the POV of gas prices.
Profile Pic
yardslave
Champion Author Oklahoma City

Posts:6,090
Points:1,478,595
Joined:Dec 2005
Message Posted: Dec 4, 2012 6:04:50 AM

I smell a speculator.."
Profile Pic
EvergreenON
Champion Author Ontario

Posts:3,166
Points:1,119,060
Joined:Apr 2011
Message Posted: Dec 4, 2012 5:57:12 AM

Look after the mondial speculators, the president has nothing to do with it.
Profile Pic
FPLREP
Champion Author Virginia

Posts:12,517
Points:3,286,860
Joined:Oct 2005
Message Posted: Dec 4, 2012 5:47:28 AM

Nancy & Len wrote "Just look what Obama inherited from the incompetent president over the last four years" Priceless.
Profile Pic
epf
Champion Author Grand Rapids

Posts:9,824
Points:2,729,545
Joined:May 2004
Message Posted: Dec 4, 2012 5:34:35 AM

I see this is a lead story on my news site.
Profile Pic
FocusST2
Champion Author North Carolina

Posts:10,888
Points:2,177,970
Joined:Jul 2009
Message Posted: Dec 4, 2012 5:32:29 AM

Just yesterday WTI shot up like a rocket only to come back down to it's original price. Go figure.
Profile Pic
George0446
Champion Author Massachusetts

Posts:1,015
Points:460,165
Joined:Apr 2012
Message Posted: Dec 4, 2012 5:30:28 AM

The fiscal cliff, as I understand it is when the various government agencies get less of our tax money than they got last year. Why should they be different from tax payers who are doing with less and less as Obama's luxury ride goes on. Government agencies are getting too much money and need to be cut back. Just maybe if their pet programs get cut enough they will start to fix the mess that liberal / progressives in congress have made.
Profile Pic
Nancy&Len
Champion Author Cleveland

Posts:5,350
Points:2,794,300
Joined:Sep 2004
Message Posted: Dec 4, 2012 5:29:59 AM

Just look what Obama inherited from the incompetent president over the last four years.
Profile Pic
SUPERSTEVIEO
Champion Author Quebec

Posts:3,523
Points:787,115
Joined:Oct 2010
Message Posted: Dec 4, 2012 5:26:52 AM

so whatinfluence does teh WTI have on gas prices if Beent stays above $110???
Profile Pic
pepinoNC
Champion Author Raleigh

Posts:5,646
Points:1,482,325
Joined:May 2011
Message Posted: Dec 4, 2012 5:14:47 AM

humblepie:fewer jobs and higher oil prices, simple obamanomics

Try reading the title of the article.
Profile Pic
Bussman
Champion Author Dallas

Posts:8,400
Points:2,080,915
Joined:Nov 2008
Message Posted: Dec 4, 2012 5:13:36 AM

Elections have consequences.
Profile Pic
Luckylindy
Champion Author Milwaukee

Posts:7,692
Points:1,937,200
Joined:May 2008
Message Posted: Dec 4, 2012 4:29:20 AM

Humblepie, you beat me to it!
Profile Pic
humblepie
Champion Author Toledo

Posts:65,736
Points:3,231,920
Joined:Mar 2006
Message Posted: Dec 4, 2012 4:27:08 AM

fewer jobs and higher oil prices, simple obamanomics
Post a reply Back to Topics