GasBuddy Blog

Message Forum - Read Message

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Oil Slips Towards $110 on Economic, Budget Worries	Post a Reply Back to Topics

WxVette Rookie Author Omaha Posts:34 Points:1,014,205 Joined:Jul 2007	Message Posted: Dec 4, 2012 8:02:39 AM Ignore WxVette Report Abuse 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 Visit REUTERS for full article

WxVette

Rookie Author
Omaha

Posts:34
Points:1,014,205
Joined:Jul 2007

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

Ignore WxVette Report Abuse

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
Visit REUTERS for full article

REPLIES (newest first)Ignore Short Messages

qwerty17 Champion Author New Jersey Posts:3,660 Points:1,118,875 Joined:Oct 2009	Message Posted: Dec 5, 2012 3:32:26 PM Ignore qwerty17 Report Abuse slip baby slip.
jrs4125 Champion Author Indiana Posts:2,763 Points:592,720 Joined:Sep 2011	Message Posted: Dec 5, 2012 11:34:34 AM Ignore jrs4125 Report Abuse Pump prices went up, no slipping here.
iFueler Champion Author Durham Posts:64,433 Points:180,475 Joined:Nov 2012	Message Posted: Dec 5, 2012 1:07:40 AM Ignore iFueler Report Abuse article recounts the market
PDQBlues Champion Author San Diego Posts:7,079 Points:1,449,300 Joined:Jan 2009	Message Posted: Dec 5, 2012 12:25:29 AM Ignore PDQBlues Report Abuse 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 Posts:1,745 Points:602,495 Joined:Jan 2009	Message Posted: Dec 4, 2012 5:41:38 PM Ignore bwatchingu Report Abuse 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 Posts:3,458 Points:840,785 Joined:Nov 2009	Message Posted: Dec 4, 2012 11:11:16 AM Ignore doctorindyj Report Abuse 20 cents is not a slip it's a nudge at best.
johton Champion Author Seattle Posts:1,220 Points:313,140 Joined:Jun 2012	Message Posted: Dec 4, 2012 10:39:22 AM Ignore johton Report Abuse How high will it get once we go over the fiscal cliff? $150?
Night Owl Champion Author Toronto Posts:7,560 Points:1,788,550 Joined:Jul 2004	Message Posted: Dec 4, 2012 10:27:52 AM Ignore Night Owl Report Abuse Greedy oil speculators are still dictating what oil prices should be. And oil prices are still ridiculously high.
scu227 Champion Author New Haven Posts:4,157 Points:772,855 Joined:Feb 2011	Message Posted: Dec 4, 2012 10:24:21 AM Ignore scu227 Report Abuse Needs to come down a lot more !!!!
brbaritone Champion Author Virginia Posts:2,068 Points:1,698,810 Joined:Jan 2007	Message Posted: Dec 4, 2012 10:09:20 AM Ignore brbaritone Report Abuse It's still way too high. Please wake me when Bent drops below $80.
Pozole Champion Author Portland Posts:9,608 Points:1,596,470 Joined:Mar 2005	Message Posted: Dec 4, 2012 10:08:18 AM Ignore Pozole Report Abuse ..."Oil Slips"...speculator only woes...
Jeff4U Champion Author Atlanta Posts:8,762 Points:1,854,095 Joined:Nov 2004	Message Posted: Dec 4, 2012 10:04:15 AM Ignore Jeff4U Report Abuse The usual up and down - nothing new.
werich44 Champion Author California Posts:1,862 Points:469,930 Joined:Jun 2011	Message Posted: Dec 4, 2012 9:33:47 AM Ignore werich44 Report Abuse Same old thing, nothing ever changes.
deputydog082 Champion Author Detroit Posts:1,791 Points:661,315 Joined:Apr 2011	Message Posted: Dec 4, 2012 9:25:51 AM Ignore deputydog082 Report Abuse when will gas prices drop? that will help the economy to recover!
BUSMAN1105 Champion Author Atlanta Posts:2,164 Points:1,171,935 Joined:Aug 2008	Message Posted: Dec 4, 2012 9:23:41 AM Ignore BUSMAN1105 Report Abuse IT NEEDS TO DROP MORE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
humblepie Champion Author Toledo Posts:34,271 Points:2,372,345 Joined:Mar 2006	Message Posted: Dec 4, 2012 9:20:08 AM Ignore humblepie Report Abuse when it gets ugly oil soars
peabeax55 All-Star Author Atlanta Posts:713 Points:185,515 Joined:Mar 2012	Message Posted: Dec 4, 2012 9:02:31 AM Ignore peabeax55 Report Abuse 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 Posts:1,664 Points:251,075 Joined:Sep 2012	Message Posted: Dec 4, 2012 9:00:05 AM Ignore teenitup Report Abuse Watching the day to day changes in oil prices is as worthless as checking your retirement fund stocks everyday.
TripleHs Champion Author Austin Posts:3,355 Points:918,090 Joined:Oct 2009	Message Posted: Dec 4, 2012 8:57:19 AM Ignore TripleHs Report Abuse way way too high than it should have been
merlinCO Champion Author Colorado Posts:1,645 Points:342,370 Joined:Mar 2012	Message Posted: Dec 4, 2012 8:53:43 AM Ignore merlinCO Report Abuse What will the price do when they sign a new budget??
doeslayersr Champion Author Illinois Posts:9,121 Points:872,980 Joined:Dec 2010	Message Posted: Dec 4, 2012 8:45:54 AM Ignore doeslayersr Report Abuse 15 cents is not slippage. Now $30 a barrel would be slippage.
skempton Champion Author Vermont Posts:1,149 Points:840,135 Joined:Apr 2010	Message Posted: Dec 4, 2012 8:39:01 AM Ignore skempton Report Abuse What was expected when oil price is governed by speculators?
sabre75 Champion Author Florida Posts:1,663 Points:340,395 Joined:May 2012	Message Posted: Dec 4, 2012 8:38:36 AM Ignore sabre75 Report Abuse Interesting.
Hawg1408 Veteran Author Alberta Posts:447 Points:642,040 Joined:May 2010	Message Posted: Dec 4, 2012 8:32:17 AM Ignore Hawg1408 Report Abuse Oh, well another day on the oil market
Zuegma All-Star Author Nova Scotia Posts:993 Points:258,880 Joined:Aug 2012	Message Posted: Dec 4, 2012 8:22:56 AM Ignore Zuegma Report Abuse The variety of uncertanties certainly doesn't make a simple financial recovery for many countries.
lcleveland Champion Author San Antonio Posts:2,666 Points:652,025 Joined:May 2011	Message Posted: Dec 4, 2012 8:18:34 AM Ignore lcleveland Report Abuse need prices to go down more
amoshins Champion Author Trenton Posts:2,200 Points:642,620 Joined:Apr 2011	Message Posted: Dec 4, 2012 8:13:41 AM Ignore amoshins Report Abuse oh these worries
Evilmaddog Champion Author British Columbia Posts:3,327 Points:958,525 Joined:Aug 2010	Message Posted: Dec 4, 2012 8:06:03 AM Ignore Evilmaddog Report Abuse prices are too high for conditions
Yooperheart Champion Author Michigan Posts:3,425 Points:528,000 Joined:Feb 2010	Message Posted: Dec 4, 2012 8:03:41 AM Ignore Yooperheart Report Abuse Last quarter dump job.