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Author Topic: Oil prices fall below $89 as US posts weakest manufacturing since July 2009 Back to Topics
angel4me

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San Jose

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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
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Gnusman53
Champion Author San Diego

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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...
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esq262
Champion Author Asheville

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Message Posted: Dec 4, 2012 10:02:58 PM

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

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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!!!
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bwatchingu
Champion Author Arkansas

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Message Posted: Dec 4, 2012 5:47:44 PM

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

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Message Posted: Dec 4, 2012 12:29:25 PM

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

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Message Posted: Dec 4, 2012 11:09:23 AM

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

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Message Posted: Dec 4, 2012 10:48:38 AM

Not low enough !!!
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Jeff4U
Champion Author Atlanta

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Message Posted: Dec 4, 2012 10:14:34 AM

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

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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.)
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Gnusman53
Champion Author San Diego

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Message Posted: Dec 4, 2012 9:56:14 AM

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

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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)...
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leraar2
Champion Author Massachusetts

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Message Posted: Dec 4, 2012 9:51:30 AM

not dropping fast or far enough.
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werich44
Champion Author California

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Message Posted: Dec 4, 2012 9:49:52 AM

Here we go again!
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BUSMAN1105
Champion Author Atlanta

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Message Posted: Dec 4, 2012 9:24:18 AM

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

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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.
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sabre75
Champion Author Florida

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Message Posted: Dec 4, 2012 8:39:38 AM

Trying to understand what Bangkok market has to do with US market??
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Hawg1408
All-Star Author Alberta

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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.
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ClarkSC
Champion Author South Carolina

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Message Posted: Dec 4, 2012 8:30:52 AM

Thank you, Obama.
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SycamoreISU
Champion Author Indiana

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Message Posted: Dec 4, 2012 8:12:25 AM

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

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Message Posted: Dec 4, 2012 8:02:31 AM

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

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Message Posted: Dec 4, 2012 7:45:11 AM

WTI Crude Oil now at
$88.70
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gfox4810
Champion Author Kalamazoo

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Message Posted: Dec 4, 2012 7:01:00 AM

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

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Message Posted: Dec 4, 2012 6:59:04 AM

yeah oil...bad manufacturing
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hokieburgh
Champion Author Virginia

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Message Posted: Dec 4, 2012 6:54:40 AM

just fall baby!
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cheap59
Champion Author Michigan

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Message Posted: Dec 4, 2012 6:49:06 AM

Keep falling.
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dandvicb
Champion Author Bridgeport

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Message Posted: Dec 4, 2012 6:44:35 AM

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

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Message Posted: Dec 4, 2012 6:40:54 AM

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

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Message Posted: Dec 4, 2012 6:20:03 AM

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

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Message Posted: Dec 4, 2012 6:17:52 AM

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

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Message Posted: Dec 4, 2012 6:13:10 AM

OK
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grandpadon28110
Champion Author Charlotte

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Message Posted: Dec 4, 2012 6:10:41 AM

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

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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.
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yardslave
Champion Author Oklahoma City

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Message Posted: Dec 4, 2012 6:04:50 AM

I smell a speculator.."
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EvergreenON
Champion Author Ontario

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Message Posted: Dec 4, 2012 5:57:12 AM

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

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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.
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epf
Champion Author Grand Rapids

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Message Posted: Dec 4, 2012 5:34:35 AM

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

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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.
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George0446
Champion Author Massachusetts

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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.
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Nancy&Len
Champion Author Cleveland

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Message Posted: Dec 4, 2012 5:29:59 AM

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

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Message Posted: Dec 4, 2012 5:26:52 AM

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

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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.
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Bussman
Champion Author Dallas

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Message Posted: Dec 4, 2012 5:13:36 AM

Elections have consequences.
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Luckylindy
Champion Author Milwaukee

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Message Posted: Dec 4, 2012 4:29:20 AM

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

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Message Posted: Dec 4, 2012 4:27:08 AM

fewer jobs and higher oil prices, simple obamanomics
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