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Author Topic: US oil slumps as Washington shutdown looks more likely Back to Topics
NOTSOGRN

Champion Author
Michigan

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Message Posted: Sep 30, 2013 1:19:15 AM

U.S. crude dropped to a 2-1/2 month low early on Monday, with markets uncertain on the outlook for demand as a shutdown of U.S. government operations seemed more likely.

NYMEX crude for November delivery was down $1.17 at $101.70 a barrel by 0014 GMT, after finishing 16 cents lower on Friday. The contract earlier fell to $101.69, its lowest level since July 5.

Brent crude for November delivery dropped 79 cents to $107.84 a barrel, after settling 58 cents lower in the previous session.

U.S. Senate Democrats decided on Sunday not to take up a measure approved in the early morning hours by the Republican-controlled House of Representatives that ties funding for government agencies to a one-year delay of President Barack Obama's landmark healthcare law.

Visit CNBC/REUTERS for full article
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honda0105
Champion Author Tallahassee

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Message Posted: Oct 4, 2013 5:53:48 AM

dropped by 4 cents... after a 14 cent hike. Is that considered "falling prices"??
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honda0105
Champion Author Tallahassee

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Message Posted: Oct 3, 2013 12:02:42 AM

two stations around here have UPPED their prices... 3.21 to 3.35 overnight.
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zuess28
Champion Author Allentown

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Message Posted: Oct 1, 2013 6:42:06 AM

Good to hear some great news.
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BBopp
Champion Author Dayton

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Message Posted: Oct 1, 2013 5:58:27 AM

Gas up while the prices are low.
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afghaned
Champion Author Ottawa

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Message Posted: Oct 1, 2013 5:10:35 AM

The Obamacare item was removed.
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Garyallman
Champion Author Honolulu

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Message Posted: Oct 1, 2013 2:40:26 AM

Last one to leave the room standing or otherwise gets to buy his own health insurance!
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Garyallman
Champion Author Honolulu

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Message Posted: Oct 1, 2013 2:32:33 AM

Send the far far right into a room with the far far left and let them anhialate each other!
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Garyallman
Champion Author Honolulu

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Message Posted: Oct 1, 2013 2:26:38 AM

Consider all the dens and repubs nut jobs and lynch e'm all, good for nothing idiots!
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Garyallman
Champion Author Honolulu

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Message Posted: Oct 1, 2013 2:23:59 AM

Send them all to the unemployment line, democrats, and republicans!, and kicke'm while they're down!
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52MPG
Champion Author Dayton

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Message Posted: Oct 1, 2013 1:56:38 AM

A benefit to a government shutdown? How nice.
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KrsnaDragon
Champion Author Montreal

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Message Posted: Oct 1, 2013 1:49:33 AM

Waiting to see how this situation works out.
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kgbellman
Champion Author Ann Arbor

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Message Posted: Oct 1, 2013 1:25:30 AM

Is that all it takes to cause oil to drop?
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THZebra
Champion Author Indiana

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Message Posted: Oct 1, 2013 1:23:34 AM

It's the republicans fault. How dare they want members of congress NOT to be able to have better health care than us little people. They want to defund obamacare only because our royalty in congress is allowed to keep top notch (cadillac) health policies that we, the nobodys, pay for.

The democrats, on the other had, appreciate the fancy health policies we are required to buy for them and the dems know that we, the surfs, are not entitled to such health privileges.

They all need to understand that us common folk "know our place".

[Edited by: THZebra at 10/1/2013 1:25:43 AM EST]
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us4usa
Champion Author Missouri

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Message Posted: Oct 1, 2013 1:21:03 AM

DC shutdown, just another reason for term limits...
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camel1
Champion Author Minnesota

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Message Posted: Oct 1, 2013 1:18:59 AM

interesting situation
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thirstyauto
Champion Author Milwaukee

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Message Posted: Oct 1, 2013 1:15:58 AM

Obama continues to do the country in!!
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Tigercat88
Champion Author North Carolina

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Message Posted: Oct 1, 2013 1:15:53 AM

Government should shutdown for a long time.
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DirtDauber
Champion Author San Antonio

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Message Posted: Oct 1, 2013 1:15:12 AM

That would be best, daviscw1117.
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BobD2009
Champion Author Long Island

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Message Posted: Oct 1, 2013 1:14:29 AM

Keep it shutdown!
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daviscw1117
Champion Author Pensacola

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Message Posted: Oct 1, 2013 1:13:02 AM

if there was someway to just keep the government out of it.
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ShadowACE
Champion Author Boston

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Message Posted: Oct 1, 2013 1:10:38 AM

By Thursday I expect they'll be blaming G.W. Bush for this...
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cifuentesab
Champion Author Sacramento

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Message Posted: Oct 1, 2013 1:09:25 AM

whatever
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RogerB
Champion Author Indianapolis

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Message Posted: Oct 1, 2013 1:03:57 AM

- Very Interesting . . . .


                     √    



                               
 
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TBONE3
Champion Author Pennsylvania

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Message Posted: Oct 1, 2013 1:03:10 AM

As volatile as prices are at this point, I think it is safe to consider prices will drop but raise prior to the Holidays.
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Burger09
Champion Author Ontario

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Message Posted: Oct 1, 2013 12:59:27 AM

Unrelated...
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Zonk
Champion Author Michigan

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Message Posted: Oct 1, 2013 12:58:31 AM

No telling what the result may be.
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STLCARDSNATION
Champion Author Illinois

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Message Posted: Oct 1, 2013 12:58:17 AM

OK
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oldred11
Champion Author Indianapolis

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Message Posted: Oct 1, 2013 12:58:14 AM

One good thing about a bad Congress. . .
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ningvoy
Veteran Author San Diego

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Message Posted: Oct 1, 2013 12:57:54 AM

Ok
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goldseeker
Champion Author West Virginia

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Message Posted: Oct 1, 2013 12:56:23 AM

Who cares?
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SteveHawk
Champion Author Ontario

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Message Posted: Oct 1, 2013 12:55:54 AM

get rid of the tea party far far far right nut cases
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pa79th
Champion Author Pennsylvania

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Message Posted: Oct 1, 2013 12:55:14 AM

That's sure to drive the prices up! Haven't seen anything yet that drives them down.
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69Bonne
Champion Author Gary

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Message Posted: Oct 1, 2013 12:51:15 AM

Keep going down
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probedude2
Champion Author Akron

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Message Posted: Oct 1, 2013 12:51:13 AM

C'mon granitestater, you can say it here
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ricebike
Champion Author New Jersey

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Message Posted: Oct 1, 2013 12:50:41 AM

as prices goes down, wait until halloween for prices to go back up
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granitestater
Champion Author New Hampshire

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Message Posted: Oct 1, 2013 12:50:14 AM

If the government "shuts down". Do you think it means less spending? --Not a chance in h-e-double-hockey-sticks!
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Bubba44612
Champion Author Ohio

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Message Posted: Oct 1, 2013 12:46:46 AM

Another excuse to raise prices.
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cwashi3324
Champion Author Cincinnati

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Message Posted: Oct 1, 2013 12:46:20 AM

Slumps can be good.
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ican2step
Champion Author Pittsburgh

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Message Posted: Oct 1, 2013 12:42:45 AM

Shut the crooks down I say!
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GAS1251
Champion Author Texas

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Message Posted: Oct 1, 2013 12:41:06 AM

Looking forward to this slump.
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Alaydown
Champion Author Los Angeles

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Message Posted: Oct 1, 2013 12:40:41 AM

It is too bad Obama and Congress don't lose their pay when they refuse to agree on a budget or continuing resolution. The Senate should have agreed to what the House passed. Blame the Senate DemocRATs for the partial shutdown of the government.

I believe the answer to the question some are asking about why oil would slump is because a partial shutdown of the government means there are around 800,000 to a million federal employees (out of 2.1 million) who will be furloughed during the partial shutdown. Most of the remaining federal employees won't be paid until after a continuing resolution or budget is passed. It will have a negative effect on our economy and on our GDP. Fortunately almost all of these have only lasted less than 3 days. The last one that occurred in 1996 (because Clinton vetoed the budget) lasted 21 days.

Unfortunately Obama will continue to be paid, and his family will continue to take multi-million dollar vacations at taxpayer expense.

[Edited by: Alaydown at 10/1/2013 12:47:16 AM EST]
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mix76hawaiian
Sophomore Author Fresno

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Message Posted: Oct 1, 2013 12:39:52 AM

a slump?
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Matt G
Champion Author Boston

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Message Posted: Oct 1, 2013 12:39:05 AM

Ok
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ThunderBird89
Champion Author Columbus

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Message Posted: Oct 1, 2013 12:38:09 AM

and.... we have a shutdown.... business as usual....
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10k
Champion Author North Carolina

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Message Posted: Oct 1, 2013 12:37:37 AM

TIGERPAW:

so true..

not only do we need IDs to vote, but a basic intelligence test should be required..Bill Clinton is on the penny ??-the idiot who said that should never be allowed to vote..
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LKnight598
Champion Author South Carolina

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Message Posted: Oct 1, 2013 12:36:43 AM

So if it shut's down there will be fewer federal employees on the road using much less gasoline! That should get the prices down! Shut it down!!!
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rippinusoff
Champion Author Lexington

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Message Posted: Oct 1, 2013 12:35:11 AM

Ok
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speedraider
Champion Author Orlando

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Message Posted: Oct 1, 2013 12:33:01 AM

shut it down
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sprocketsplines
Champion Author Washington

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Message Posted: Oct 1, 2013 12:32:48 AM

Usually consumers welcome the drop in oil and gas prices but in this case, the drop is causing great anxiety as the Washington shutdown looms ahead.
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mfeldstein
Champion Author Ottawa

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Message Posted: Oct 1, 2013 12:31:57 AM

The silver lining.
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