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Author Topic: Oil sinks to near $92 on China manufacturing data Back to Topics
WxVette
Rookie Author
Omaha

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Message Posted: May 1, 2013 8:14:01 AM

The price of oil dropped to near $92 a barrel on Wednesday after data showed a slowdown in China's manufacturing growth and a rise in U.S. crude stocks.

By early afternoon in Europe, benchmark oil for June delivery was down $1.18 to $92.28 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.04 to finish at $93.46 per barrel on Tuesday in anticipation of another increase in U.S. crude supplies.

Most European markets were closed Wednesday for the May Day holiday.

The China Federation of Logistics and Purchasing, an industry group, released data Wednesday showing that manufacturing grew at a slower pace in April and that export orders had been declining steadily. The federation's purchasing managers' index fell to 50.6 in April from 50.9 in Mar
REPLIES (newest first) Post a Reply
NedW
Champion Author Indianapolis

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Message Posted: May 2, 2013 4:57:55 PM

Thank you for submitting this article, WxVette.
Bugger2008
Rookie Author Albany

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Message Posted: May 2, 2013 3:38:07 AM

Keep going lower
qwerty17
Champion Author New Jersey

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Message Posted: May 1, 2013 7:56:09 PM

sink lower.
BUSMAN1105
Champion Author Atlanta

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Message Posted: May 1, 2013 2:22:35 PM

GOOD, IT NEEDS TO DROP MORE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IronMyShirt
Champion Author Akron

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Message Posted: May 1, 2013 1:57:56 PM

The "spike" the other day in oil and gas prices was factored right away into gas prices in our region (in the form of a $0.30 increase). The drop after that -- not so much.
ss70
Champion Author Detroit

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Message Posted: May 1, 2013 1:57:36 PM

we are paying very high prices in greatlakes area for gas right now .
ObieDog
Champion Author Maryland

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Message Posted: May 1, 2013 12:07:42 PM

How about "down slightly" instead of "sinks".
truvoice1
Champion Author San Diego

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Message Posted: May 1, 2013 11:36:41 AM

Good news for oil prices here. Lets keep up the pressure by expanding our exploration and refining of domestic gas!
humblepie
Champion Author Toledo

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Message Posted: May 1, 2013 11:05:03 AM

still at least $50 a barrel overpriced
elkaye
Champion Author Orlando

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Message Posted: May 1, 2013 10:17:09 AM

I waana see lower prices
fora_7
Champion Author Montreal

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Message Posted: May 1, 2013 10:06:13 AM

no relief here
eschroth442
Champion Author Cleveland

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Message Posted: May 1, 2013 9:39:58 AM

so where is my relief at the pump. Prices her jumped 0.30$ in the last 2 days
Winatgas
Champion Author Kentucky

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Message Posted: May 1, 2013 9:36:40 AM

Europe seems to be on holiday from May until August, however, China has been a huge oil user not only for their vehicles, but for the manufacturing they do for the world.
kyjlh
Champion Author Kentucky

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Message Posted: May 1, 2013 9:34:37 AM

ok
screwoilco
Champion Author Sacramento

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Message Posted: May 1, 2013 9:32:57 AM

every little bit helps
nozzle46
Champion Author Little Rock

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Message Posted: May 1, 2013 9:30:09 AM

You can't trust any Chinese numbers. Gov't controls everything, even numbers.
investmentdr
Champion Author Cleveland

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Message Posted: May 1, 2013 9:19:12 AM

plunging -2.5% this AM
werich44
Champion Author California

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Message Posted: May 1, 2013 9:15:57 AM

Works for me.
BBF_PFS
Champion Author Washington

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Message Posted: May 1, 2013 9:09:27 AM

This means lower fuel prices right?
Evilmaddog
Champion Author British Columbia

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Message Posted: May 1, 2013 9:06:06 AM

4.95/us gal....1.339/litre
Buckeyee
Champion Author Maine

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Message Posted: May 1, 2013 9:01:01 AM

Still over $3.45 here.
dm9667_23
Champion Author Pennsylvania

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Message Posted: May 1, 2013 8:51:24 AM

big deal, gas just jumped 7 cents at my local fill up spot. Why?
OHIO50
Champion Author Denver

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Message Posted: May 1, 2013 8:43:41 AM

Good for us.
Ouch06
Champion Author Michigan

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Message Posted: May 1, 2013 8:42:31 AM

Good for oil but not sure this will effect the price of gas.
lcleveland
Champion Author San Antonio

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Message Posted: May 1, 2013 8:41:06 AM

waiting for the prices to come down, up .04 cents last nite
Rappcommuter
All-Star Author Virginia

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Message Posted: May 1, 2013 8:38:23 AM

They always state how the price of gas is tied to oil, but it sure doesn't seem that way at the pump.
whitebear1883
Champion Author Oakland

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Message Posted: May 1, 2013 8:37:42 AM

Keep dropping!
APlus
Champion Author San Antonio

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Message Posted: May 1, 2013 8:35:44 AM

good
Yooperheart
Champion Author Michigan

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Message Posted: May 1, 2013 8:30:33 AM

So June pump prices "should" be lower pending any sniffles incurred.
scu227
Champion Author New Haven

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Message Posted: May 1, 2013 8:27:25 AM

keep on sinking !!!
Buck_on_Bass
Champion Author Tennessee

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Message Posted: May 1, 2013 8:24:43 AM

I wonder how many people realize the oil prices that are quoted and typically reported are a futures price and not a spot market price.
Sanpoil
Champion Author Spokane

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Message Posted: May 1, 2013 8:22:39 AM

So pass it on to us peons.
darshanzala
All-Star Author Illinois

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Message Posted: May 1, 2013 8:21:14 AM

Gas price just went up 20 cents yesterday.
WalkingWV
Champion Author West Virginia

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Message Posted: May 1, 2013 8:19:05 AM

Gas is still grossly overpriced, up 20 cents, now $3.79!
streetdesign
Champion Author Illinois

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Message Posted: May 1, 2013 8:18:32 AM

It looks like they forgot to tell the folks at the service stations because the pump prices are over $4.00 and still going up NOT down in the Midwest.
AVKZ
Champion Author Kalamazoo

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Message Posted: May 1, 2013 8:15:07 AM

Gas is still high.
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