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Author Topic: Oil Slips Towards $110 on Economic, Budget Worries Back to Topics
WxVette
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Omaha

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Message Posted: Dec 4, 2012 8:02:39 AM

Brent crude oil slipped towards $110 a barrel on Tuesday as weak manufacturing data and protracted U.S. budget negotiations fanned concerns about the health of the global economy and the prospects for energy demand.

But simmering tensions in the Middle East including a fragile ceasefire between Israel and Gaza and worsening unrest in Syria helped support prices.

Brent futures slipped 20 cents to $110.72 per barrel. On Monday Brent broke through a key resistance level to close below its 200-day moving average of above $111.

U.S. crude slipped 15 cents to $88.94 per barrel.

Other markets including shares, base metals and gold also slipped.

"Almost everything is in the red," said Carsten Fritsch, senior oil analyst at Commerzbank in Frankfurt. " This is related to factors such
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REPLIES (newest first) Post a Reply
qwerty17
Champion Author New Jersey

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Message Posted: Dec 5, 2012 3:32:26 PM

slip baby slip.
jrs4125
Champion Author Indiana

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Message Posted: Dec 5, 2012 11:34:34 AM

Pump prices went up, no slipping here.
iFueler
Champion Author Durham

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Message Posted: Dec 5, 2012 1:07:40 AM

article recounts the market
PDQBlues
Champion Author San Diego

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Message Posted: Dec 5, 2012 12:25:29 AM


While the rest of the world buys oil below $90/barrel, the US buys this Brent oil at $110. So much for the 'free market' economy people fantasize about.
bwatchingu
Champion Author Arkansas

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Message Posted: Dec 4, 2012 5:41:38 PM

This article is a bunch of words that says very little.The expert that wrote this article must be a politician.
doctorindyj
Champion Author Santa Fe

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Message Posted: Dec 4, 2012 11:11:16 AM

20 cents is not a slip it's a nudge at best.
johton
Champion Author Seattle

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Message Posted: Dec 4, 2012 10:39:22 AM

How high will it get once we go over the fiscal cliff? $150?
Night Owl
Champion Author Toronto

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Message Posted: Dec 4, 2012 10:27:52 AM

Greedy oil speculators are still dictating what oil prices should be. And oil prices are still ridiculously high.
scu227
Champion Author New Haven

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Message Posted: Dec 4, 2012 10:24:21 AM

Needs to come down a lot more !!!!
brbaritone
Champion Author Virginia

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Message Posted: Dec 4, 2012 10:09:20 AM

It's still way too high. Please wake me when Bent drops below $80.
Pozole
Champion Author Portland

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Message Posted: Dec 4, 2012 10:08:18 AM

..."Oil Slips"...speculator only woes...
Jeff4U
Champion Author Atlanta

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Message Posted: Dec 4, 2012 10:04:15 AM

The usual up and down - nothing new.
werich44
Champion Author California

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Message Posted: Dec 4, 2012 9:33:47 AM

Same old thing, nothing ever changes.
deputydog082
Champion Author Detroit

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Message Posted: Dec 4, 2012 9:25:51 AM

when will gas prices drop? that will help the economy to recover!
BUSMAN1105
Champion Author Atlanta

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Message Posted: Dec 4, 2012 9:23:41 AM

IT NEEDS TO DROP MORE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
humblepie
Champion Author Toledo

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Message Posted: Dec 4, 2012 9:20:08 AM

when it gets ugly oil soars
peabeax55
All-Star Author Atlanta

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Message Posted: Dec 4, 2012 9:02:31 AM

Crude has already bottomed (around 11/8/2012) and is already on a new leg up.
Pressure is up for whatever reason they want to dream up.
teenitup
Champion Author Houston

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Message Posted: Dec 4, 2012 9:00:05 AM

Watching the day to day changes in oil prices is as worthless as checking your retirement fund stocks everyday.
TripleHs
Champion Author Austin

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Message Posted: Dec 4, 2012 8:57:19 AM

way way too high than it should have been
merlinCO
Champion Author Colorado

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Message Posted: Dec 4, 2012 8:53:43 AM

What will the price do when they sign a new budget??
doeslayersr
Champion Author Illinois

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Message Posted: Dec 4, 2012 8:45:54 AM

15 cents is not slippage. Now $30 a barrel would be slippage.
skempton
Champion Author Vermont

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Message Posted: Dec 4, 2012 8:39:01 AM

What was expected when oil price is governed by speculators?
sabre75
Champion Author Florida

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Message Posted: Dec 4, 2012 8:38:36 AM

Interesting.
Hawg1408
All-Star Author Alberta

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Message Posted: Dec 4, 2012 8:32:17 AM

Oh, well another day on the oil market
Zuegma
Champion Author Nova Scotia

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Message Posted: Dec 4, 2012 8:22:56 AM

The variety of uncertanties certainly doesn't make a simple financial recovery for many countries.
lcleveland
Champion Author San Antonio

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Message Posted: Dec 4, 2012 8:18:34 AM

need prices to go down more
amoshins
Champion Author Trenton

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Message Posted: Dec 4, 2012 8:13:41 AM

oh these worries
Evilmaddog
Champion Author British Columbia

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Message Posted: Dec 4, 2012 8:06:03 AM

prices are too high for conditions
Yooperheart
Champion Author Michigan

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Message Posted: Dec 4, 2012 8:03:41 AM

Last quarter dump job.
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