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

angel4me Champion Author San Jose Posts:2,814 Points:793,795 Joined:Dec 2010	Message Posted: Dec 4, 2012 3:45:04 AM Ignore angel4me Report Abuse 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

angel4me

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Message Posted: Dec 4, 2012 3:45:04 AM

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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)Ignore Short Messages

Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Dec 6, 2012 10:25:47 AM Ignore Gnusman53 Report Abuse Seems the "trade group" from Australia must be listening to Fox News.... rather than dealing in facts...
esq262 Champion Author Asheville Posts:2,892 Points:647,290 Joined:Jul 2011	Message Posted: Dec 4, 2012 10:02:58 PM Ignore esq262 Report Abuse Let's see it at the pump.
eomc17 Champion Author Tucson Posts:1,822 Points:134,145 Joined:Mar 2007	Message Posted: Dec 4, 2012 8:34:26 PM Ignore eomc17 Report Abuse 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!!!
bwatchingu Champion Author Arkansas Posts:1,735 Points:599,670 Joined:Jan 2009	Message Posted: Dec 4, 2012 5:47:44 PM Ignore bwatchingu Report Abuse Using same excuses to go and to go down.
Dr Gas Champion Author Twin Cities Posts:3,265 Points:358,080 Joined:May 2004	Message Posted: Dec 4, 2012 12:29:25 PM Ignore Dr Gas Report Abuse Wait - this is from FOX news Bangkok ?? Couldn't get it from a US source??
Mota Sophomore Author Louisville Posts:102 Points:171,575 Joined:Mar 2006	Message Posted: Dec 4, 2012 11:09:23 AM Ignore Mota Report Abuse A weak manufacturing level measurement is a BAD indicator of things to come.
scu227 Champion Author New Haven Posts:4,146 Points:770,905 Joined:Feb 2011	Message Posted: Dec 4, 2012 10:48:38 AM Ignore scu227 Report Abuse Not low enough !!!
Jeff4U Champion Author Atlanta Posts:8,744 Points:1,851,170 Joined:Nov 2004	Message Posted: Dec 4, 2012 10:14:34 AM Ignore Jeff4U Report Abuse Crude is now at $88.24 (-.89) ... severely overpriced.
brbaritone Champion Author Virginia Posts:2,063 Points:1,696,960 Joined:Jan 2007	Message Posted: Dec 4, 2012 10:11:00 AM Ignore brbaritone Report Abuse 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.)
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Dec 4, 2012 9:56:14 AM Ignore Gnusman53 Report Abuse Seems Humle needs to improve his reading COMPREHENSION skills (grin)...
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Dec 4, 2012 9:53:18 AM Ignore Gnusman53 Report Abuse 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)...
leraar2 Champion Author Massachusetts Posts:3,759 Points:786,705 Joined:Mar 2011	Message Posted: Dec 4, 2012 9:51:30 AM Ignore leraar2 Report Abuse not dropping fast or far enough.
werich44 Champion Author California Posts:1,852 Points:467,980 Joined:Jun 2011	Message Posted: Dec 4, 2012 9:49:52 AM Ignore werich44 Report Abuse Here we go again!
BUSMAN1105 Champion Author Atlanta Posts:2,152 Points:1,169,070 Joined:Aug 2008	Message Posted: Dec 4, 2012 9:24:18 AM Ignore BUSMAN1105 Report Abuse THAT'S GREAT NEWS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
merlinCO Champion Author Colorado Posts:1,635 Points:340,420 Joined:Mar 2012	Message Posted: Dec 4, 2012 8:50:09 AM Ignore merlinCO Report Abuse 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.
sabre75 Champion Author Florida Posts:1,663 Points:340,395 Joined:May 2012	Message Posted: Dec 4, 2012 8:39:38 AM Ignore sabre75 Report Abuse Trying to understand what Bangkok market has to do with US market??
Hawg1408 Veteran Author Alberta Posts:447 Points:640,290 Joined:May 2010	Message Posted: Dec 4, 2012 8:34:38 AM Ignore Hawg1408 Report Abuse Oh well, someone is still making huge profits even at this price. Should be lower yet.
ClarkSC Champion Author South Carolina Posts:3,073 Points:1,010,430 Joined:May 2010	Message Posted: Dec 4, 2012 8:30:52 AM Ignore ClarkSC Report Abuse Thank you, Obama.
SycamoreISU Champion Author Indiana Posts:1,040 Points:259,685 Joined:Jan 2012	Message Posted: Dec 4, 2012 8:12:25 AM Ignore SycamoreISU Report Abuse Many companies announced layoffs immediately after the election.
Yooperheart Champion Author Michigan Posts:3,410 Points:526,050 Joined:Feb 2010	Message Posted: Dec 4, 2012 8:02:31 AM Ignore Yooperheart Report Abuse Slight dip before Christmas travel, as usual. Then New Years jump.
amerk73 Champion Author Dallas Posts:7,045 Points:1,620,105 Joined:Oct 2008	Message Posted: Dec 4, 2012 7:45:11 AM Ignore amerk73 Report Abuse WTI Crude Oil now at $88.70
gfox4810 Champion Author Kalamazoo Posts:1,181 Points:394,775 Joined:Jul 2011	Message Posted: Dec 4, 2012 7:01:00 AM Ignore gfox4810 Report Abuse Good news for oil prices ...bad news for manufacturing jobs.
MImusicman Champion Author Michigan Posts:1,868 Points:406,700 Joined:Mar 2012	Message Posted: Dec 4, 2012 6:59:04 AM Ignore MImusicman Report Abuse yeah oil...bad manufacturing
hokieburgh Champion Author Virginia Posts:1,107 Points:463,425 Joined:Feb 2007	Message Posted: Dec 4, 2012 6:54:40 AM Ignore hokieburgh Report Abuse just fall baby!
cheap59 Champion Author Michigan Posts:4,240 Points:960,770 Joined:May 2010	Message Posted: Dec 4, 2012 6:49:06 AM Ignore cheap59 Report Abuse Keep falling.
dandvicb Champion Author Bridgeport Posts:1,227 Points:1,075,980 Joined:Jul 2004	Message Posted: Dec 4, 2012 6:44:35 AM Ignore dandvicb Report Abuse oil down...... gas up
gs7101 Champion Author San Antonio Posts:5,518 Points:387,695 Joined:Jun 2009	Message Posted: Dec 4, 2012 6:40:54 AM Ignore gs7101 Report Abuse The merry-go-round oil prices continues!
335d1 Champion Author Virginia Posts:2,371 Points:757,845 Joined:Feb 2011	Message Posted: Dec 4, 2012 6:20:03 AM Ignore 335d1 Report Abuse What!??!! Nothing about the Middle East?
Straitliner Champion Author Illinois Posts:1,492 Points:236,550 Joined:Sep 2012	Message Posted: Dec 4, 2012 6:17:52 AM Ignore Straitliner Report Abuse Yet the gas jumps 22 cents a gal yesterday here.
pscamp Champion Author Ottawa Posts:3,270 Points:473,910 Joined:May 2011	Message Posted: Dec 4, 2012 6:13:10 AM Ignore pscamp Report Abuse OK
grandpadon28110 Champion Author Charlotte Posts:4,711 Points:1,141,335 Joined:Sep 2008	Message Posted: Dec 4, 2012 6:10:41 AM Ignore grandpadon28110 Report Abuse It is time for them to get together.
StArrow68 Champion Author Oakland Posts:3,249 Points:1,359,455 Joined:Apr 2003	Message Posted: Dec 4, 2012 6:05:27 AM Ignore StArrow68 Report Abuse 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.
yardslave Champion Author Oklahoma City Posts:2,549 Points:595,830 Joined:Dec 2005	Message Posted: Dec 4, 2012 6:04:50 AM Ignore yardslave Report Abuse I smell a speculator.."
EvergreenON All-Star Author Ontario Posts:938 Points:482,715 Joined:Apr 2011	Message Posted: Dec 4, 2012 5:57:12 AM Ignore EvergreenON Report Abuse Look after the mondial speculators, the president has nothing to do with it.
FPLREP Champion Author Virginia Posts:8,256 Points:2,447,275 Joined:Oct 2005	Message Posted: Dec 4, 2012 5:47:28 AM Ignore FPLREP Report Abuse Nancy & Len wrote "Just look what Obama inherited from the incompetent president over the last four years" Priceless.
epf Champion Author Grand Rapids Posts:6,329 Points:1,890,380 Joined:May 2004	Message Posted: Dec 4, 2012 5:34:35 AM Ignore epf Report Abuse I see this is a lead story on my news site.
FocusST2 Champion Author North Carolina Posts:8,138 Points:1,377,950 Joined:Jul 2009	Message Posted: Dec 4, 2012 5:32:29 AM Ignore FocusST2 Report Abuse Just yesterday WTI shot up like a rocket only to come back down to it's original price. Go figure.
George0446 Veteran Author Massachusetts Posts:498 Points:230,185 Joined:Apr 2012	Message Posted: Dec 4, 2012 5:30:28 AM Ignore George0446 Report Abuse 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.
Nancy&Len Champion Author Cleveland Posts:2,048 Points:1,944,840 Joined:Sep 2004	Message Posted: Dec 4, 2012 5:29:59 AM Ignore Nancy&Len Report Abuse Just look what Obama inherited from the incompetent president over the last four years.
SUPERSTEVIEO Champion Author Quebec Posts:3,523 Points:787,115 Joined:Oct 2010	Message Posted: Dec 4, 2012 5:26:52 AM Ignore SUPERSTEVIEO Report Abuse so whatinfluence does teh WTI have on gas prices if Beent stays above $110???
pepinoNC Champion Author Raleigh Posts:2,149 Points:657,815 Joined:May 2011	Message Posted: Dec 4, 2012 5:14:47 AM Ignore pepinoNC Report Abuse humblepie:fewer jobs and higher oil prices, simple obamanomics Try reading the title of the article.
Bussman Champion Author Dallas Posts:5,508 Points:1,358,010 Joined:Nov 2008	Message Posted: Dec 4, 2012 5:13:36 AM Ignore Bussman Report Abuse Elections have consequences.
Luckylindy Champion Author Milwaukee Posts:4,509 Points:1,126,095 Joined:May 2008	Message Posted: Dec 4, 2012 4:29:20 AM Ignore Luckylindy Report Abuse Humblepie, you beat me to it!
humblepie Champion Author Toledo Posts:34,154 Points:2,370,395 Joined:Mar 2006	Message Posted: Dec 4, 2012 4:27:08 AM Ignore humblepie Report Abuse fewer jobs and higher oil prices, simple obamanomics