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Author	Topic: Oil falls as traders weigh China data, 2013 demand	Post a Reply Back to Topics

WxVette Rookie Author Omaha Posts:34 Points:1,014,205 Joined:Jul 2007	Message Posted: Jan 18, 2013 8:36:51 AM Ignore WxVette Report Abuse The price of oil slipped to near $95 a barrel Friday but remained near four-month highs after new data showed China's economy rebounded in the final quarter of last year, suggesting an increase in energy demand. By early afternoon in Europe, benchmark oil for February delivery was down 26 cents to $95.23 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained $1.25 to finish at $95.49 a barrel. That was the highest close for crude on the Nymex since Sept. 17 and a result of the positive economic reports out of the U.S. "Investors were prompted to some profit-taking to lock in recent gains, while the markets try to digest the Chinese economic data that slightly improved market sentiment" said a report from Sucden Financial Research in London. Chin Visit Associated Press for full article

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The price of oil slipped to near $95 a barrel Friday but remained near four-month highs after new data showed China's economy rebounded in the final quarter of last year, suggesting an increase in energy demand.

By early afternoon in Europe, benchmark oil for February delivery was down 26 cents to $95.23 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained $1.25 to finish at $95.49 a barrel. That was the highest close for crude on the Nymex since Sept. 17 and a result of the positive economic reports out of the U.S.

"Investors were prompted to some profit-taking to lock in recent gains, while the markets try to digest the Chinese economic data that slightly improved market sentiment" said a report from Sucden Financial Research in London.

Chin
Visit Associated Press for full article

REPLIES (newest first)Ignore Short Messages

heydano67 Champion Author California Posts:1,671 Points:358,510 Joined:Feb 2012	Message Posted: Jan 19, 2013 4:35:50 AM Ignore heydano67 Report Abuse Should be about $60
DrCashFlow Champion Author Massachusetts Posts:7,074 Points:1,628,200 Joined:Jun 2008	Message Posted: Jan 19, 2013 3:03:53 AM Ignore DrCashFlow Report Abuse noise amidst guesswork
MrLefty0706 Champion Author Chicago Posts:1,449 Points:352,060 Joined:Apr 2012	Message Posted: Jan 18, 2013 4:18:59 PM Ignore MrLefty0706 Report Abuse Only seeing increases in Northern Illinois.
humblepie Champion Author Toledo Posts:34,248 Points:2,372,345 Joined:Mar 2006	Message Posted: Jan 18, 2013 12:33:50 PM Ignore humblepie Report Abuse gas is $3.07 here
fora_7 All-Star Author Montreal Posts:862 Points:206,405 Joined:Sep 2012	Message Posted: Jan 18, 2013 9:31:56 AM Ignore fora_7 Report Abuse Beware of China demand, in a few years, it will be out of this world.
Seamus4513 Champion Author Orange County Posts:2,583 Points:386,580 Joined:Mar 2012	Message Posted: Jan 18, 2013 9:28:13 AM Ignore Seamus4513 Report Abuse K
carolfitz4438 Veteran Author New York Posts:251 Points:186,045 Joined:May 2011	Message Posted: Jan 18, 2013 9:26:37 AM Ignore carolfitz4438 Report Abuse Not seeing it
cdrrod Champion Author Wisconsin Posts:4,159 Points:784,750 Joined:Feb 2006	Message Posted: Jan 18, 2013 9:03:53 AM Ignore cdrrod Report Abuse No party in Kenosha WI! Our gas just went up 20¢ gallon overnight...
bills299 Champion Author Atlanta Posts:3,371 Points:905,465 Joined:May 2005	Message Posted: Jan 18, 2013 9:01:00 AM Ignore bills299 Report Abuse Oil needs to go back to $70 barrel!!
BurntOrange Champion Author Austin Posts:8,729 Points:1,583,180 Joined:Nov 2007	Message Posted: Jan 18, 2013 8:50:09 AM Ignore BurntOrange Report Abuse 26 cents!!! Party Time!!!
txequitygas All-Star Author Houston Posts:793 Points:156,015 Joined:Dec 2012	Message Posted: Jan 18, 2013 8:46:45 AM Ignore txequitygas Report Abuse More reasons to use more NG, especially anyway that would help reduce the use of oil.