Not Logged In Log In   Sign Up   Points Leaders
Follow Us    7:37 PM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: US oil slumps as Washington shutdown looks more likely Back to Topics
NOTSOGRN
Champion Author
Michigan

Posts:2,599
Points:2,189,135
Joined:Dec 2007
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
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

Posts:24,034
Points:2,385,890
Joined:Nov 2008
Message Posted: Oct 4, 2013 5:53:48 AM

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

Posts:24,034
Points:2,385,890
Joined:Nov 2008
Message Posted: Oct 3, 2013 12:02:42 AM

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

Posts:1,602
Points:345,250
Joined:Mar 2013
Message Posted: Oct 1, 2013 6:42:06 AM

Good to hear some great news.
BBopp
Champion Author Dayton

Posts:9,715
Points:2,630,700
Joined:Dec 2006
Message Posted: Oct 1, 2013 5:58:27 AM

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

Posts:16,227
Points:2,061,740
Joined:May 2004
Message Posted: Oct 1, 2013 5:10:35 AM

The Obamacare item was removed.
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
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!
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
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!
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
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!
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
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!
52MPG
Champion Author Dayton

Posts:10,495
Points:2,516,350
Joined:Apr 2006
Message Posted: Oct 1, 2013 1:56:38 AM

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

Posts:5,971
Points:1,302,915
Joined:Nov 2011
Message Posted: Oct 1, 2013 1:49:33 AM

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

Posts:5,909
Points:1,505,560
Joined:Mar 2011
Message Posted: Oct 1, 2013 1:25:30 AM

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

Posts:3,005
Points:903,770
Joined:Nov 2008
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]
us4usa
Champion Author Missouri

Posts:7,158
Points:1,561,975
Joined:May 2008
Message Posted: Oct 1, 2013 1:21:03 AM

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

Posts:11,453
Points:3,027,865
Joined:Jul 2006
Message Posted: Oct 1, 2013 1:18:59 AM

interesting situation
thirstyauto
Champion Author Milwaukee

Posts:20,265
Points:2,381,220
Joined:Nov 2008
Message Posted: Oct 1, 2013 1:15:58 AM

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

Posts:6,435
Points:1,392,890
Joined:Jul 2011
Message Posted: Oct 1, 2013 1:15:53 AM

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

Posts:10,020
Points:2,404,140
Joined:Nov 2005
Message Posted: Oct 1, 2013 1:15:12 AM

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

Posts:10,182
Points:2,000,015
Joined:Apr 2009
Message Posted: Oct 1, 2013 1:14:29 AM

Keep it shutdown!
daviscw1117
Champion Author Pensacola

Posts:1,999
Points:597,535
Joined:May 2012
Message Posted: Oct 1, 2013 1:13:02 AM

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

Posts:12,319
Points:2,925,600
Joined:Jun 2006
Message Posted: Oct 1, 2013 1:10:38 AM

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

Posts:3,599
Points:1,266,225
Joined:Jul 2011
Message Posted: Oct 1, 2013 1:09:25 AM

whatever
RogerB
Champion Author Indianapolis

Posts:21,433
Points:3,381,385
Joined:Dec 2005
Message Posted: Oct 1, 2013 1:03:57 AM

- Very Interesting . . . .


                     √    



                               
 
TBONE3
Champion Author Pennsylvania

Posts:10,829
Points:2,427,350
Joined:Mar 2005
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.
Burger09
Champion Author Ontario

Posts:3,251
Points:896,890
Joined:Aug 2009
Message Posted: Oct 1, 2013 12:59:27 AM

Unrelated...
Zonk
Champion Author Michigan

Posts:9,678
Points:2,868,800
Joined:Oct 2005
Message Posted: Oct 1, 2013 12:58:31 AM

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

Posts:1,830
Points:385,085
Joined:Jul 2013
Message Posted: Oct 1, 2013 12:58:17 AM

OK
oldred11
Champion Author Indianapolis

Posts:4,714
Points:1,503,445
Joined:Mar 2011
Message Posted: Oct 1, 2013 12:58:14 AM

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

Posts:481
Points:243,310
Joined:Aug 2012
Message Posted: Oct 1, 2013 12:57:54 AM

Ok
goldseeker
Champion Author West Virginia

Posts:23,701
Points:3,491,180
Joined:Sep 2005
Message Posted: Oct 1, 2013 12:56:23 AM

Who cares?
SteveHawk
Champion Author Ontario

Posts:3,091
Points:778,470
Joined:Nov 2009
Message Posted: Oct 1, 2013 12:55:54 AM

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

Posts:5,007
Points:1,969,975
Joined:Jun 2007
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.
69Bonne
Champion Author Gary

Posts:3,479
Points:1,064,535
Joined:Sep 2005
Message Posted: Oct 1, 2013 12:51:15 AM

Keep going down
probedude2
Champion Author Akron

Posts:15,796
Points:3,154,205
Joined:Jun 2003
Message Posted: Oct 1, 2013 12:51:13 AM

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

Posts:12,806
Points:2,521,680
Joined:Oct 2005
Message Posted: Oct 1, 2013 12:50:41 AM

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

Posts:12,840
Points:2,193,705
Joined:Oct 2008
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!
Bubba44612
Champion Author Ohio

Posts:10,546
Points:2,644,775
Joined:Aug 2005
Message Posted: Oct 1, 2013 12:46:46 AM

Another excuse to raise prices.
cwashi3324
Champion Author Cincinnati

Posts:3,509
Points:734,895
Joined:May 2009
Message Posted: Oct 1, 2013 12:46:20 AM

Slumps can be good.
ican2step
Champion Author Pittsburgh

Posts:4,803
Points:1,189,000
Joined:Feb 2012
Message Posted: Oct 1, 2013 12:42:45 AM

Shut the crooks down I say!
GAS1251
Champion Author Texas

Posts:8,395
Points:2,402,090
Joined:Jun 2008
Message Posted: Oct 1, 2013 12:41:06 AM

Looking forward to this slump.
Alaydown
Champion Author Los Angeles

Posts:7,244
Points:1,232,035
Joined:May 2007
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]
mix76hawaiian
Sophomore Author Fresno

Posts:130
Points:83,995
Joined:Jun 2012
Message Posted: Oct 1, 2013 12:39:52 AM

a slump?
Matt G
Champion Author Boston

Posts:7,758
Points:3,547,290
Joined:Jun 2004
Message Posted: Oct 1, 2013 12:39:05 AM

Ok
ThunderBird89
Champion Author Columbus

Posts:3,323
Points:1,540,195
Joined:Mar 2009
Message Posted: Oct 1, 2013 12:38:09 AM

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

Posts:25,615
Points:3,027,850
Joined:May 2006
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..
LKnight598
Champion Author South Carolina

Posts:2,458
Points:548,420
Joined:Nov 2005
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!!!
rippinusoff
Champion Author Lexington

Posts:10,625
Points:2,261,780
Joined:May 2007
Message Posted: Oct 1, 2013 12:35:11 AM

Ok
speedraider
Champion Author Orlando

Posts:6,914
Points:2,418,950
Joined:Nov 2005
Message Posted: Oct 1, 2013 12:33:01 AM

shut it down
sprocketsplines
Champion Author Washington

Posts:4,857
Points:1,616,135
Joined:Oct 2010
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.
mfeldstein
Champion Author Ottawa

Posts:11,273
Points:2,677,485
Joined:Feb 2007
Message Posted: Oct 1, 2013 12:31:57 AM

The silver lining.
TIGERPAW46
Champion Author Florida

Posts:10,424
Points:2,112,405
Joined:Mar 2004
Message Posted: Oct 1, 2013 12:31:52 AM

They need to send Washington politicians home with no pay & no Retirement to help balance the budget since most don't do anything anyway even when in session . Just like Pres Obama voted Present around 90% of the time & the few times did vote only voted yes on extreme radical liberal bills, but look where it got him. Into the white house as a sitting Pres. for 2 terms. American intelligence has declined or at least common sense.

[Edited by: TIGERPAW46 at 10/1/2013 12:34:03 AM EST]
Post a reply Back to Topics