Not Logged In Log In   Sign Up   Points Leaders
Follow Us    5:31 PM

GasBuddy News Article

23
votes
Oil drops to near $104 on global growth concerns

Anchorage Daily News online -- The Associated Press

Published: April 29th, 2012 09:31 PM
Last Modified: April 30th, 2012 03:30 AM

LONDON (AP) - Oil prices fell toward $104 a barrel Monday on expectations that slowing economic growth in the U.S. and China and ongoing debt problems in Europe will undermine demand for crude.

Benchmark oil for June delivery was down 72 cents to $104.21 a barrel by midday European time in electronic trading on the New York Mercantile Exchange. The contract rose 38 cents to settle at $104.93 in New York on Friday.

Brent crude for June delivery was down 71 cents at $119.10 per barrel in London.

The Commerce Department said Friday that the U.S. economy grew at an annual rate of 2.2 percent in the January-March quarter, compared with 3 percent in the final quarter of 2011. Earlier this


Read the Full Article

Submitted Apr 30, 2012 By: Nitewolf
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil drops to near $104 on global growth concerns Back to Topics
REPLIES (newest first) Post a Reply
WalRus49
Champion Author Boston

Posts:7,565
Points:1,651,115
Joined:Nov 2010
Message Posted: May 1, 2012 12:16:32 AM

Just more organized mayhem and pillage..............
PathfinderSC
Champion Author South Carolina

Posts:12,899
Points:2,597,810
Joined:Mar 2008
Message Posted: Apr 30, 2012 8:09:54 PM

Oil should be around $60.00 a barrel.
Wanda127
Champion Author Florida

Posts:5,619
Points:1,690,180
Joined:May 2010
Message Posted: Apr 30, 2012 4:12:23 PM

It needs to drop a lot more. It's still way too HIGH!
md11capt
Champion Author Denver

Posts:4,595
Points:1,374,345
Joined:Mar 2011
Message Posted: Apr 30, 2012 3:00:05 PM

WHAT??!! The globe is grownin?
dh0770
Champion Author Colorado

Posts:6,987
Points:675,810
Joined:Jun 2011
Message Posted: Apr 30, 2012 2:24:02 PM

Drops??? What a joke!
gbs1
Champion Author Minnesota

Posts:5,261
Points:1,524,850
Joined:Mar 2011
Message Posted: Apr 30, 2012 1:39:00 PM

High oil prices=slow growth or no growth.
Makes sense to me.
mladha
All-Star Author Ontario

Posts:903
Points:314,310
Joined:Mar 2010
Message Posted: Apr 30, 2012 1:02:49 PM

Good
qwerty17
Champion Author New Jersey

Posts:6,406
Points:1,869,920
Joined:Oct 2009
Message Posted: Apr 30, 2012 12:39:14 PM

i like drop.
Ticoman54
Champion Author Miami

Posts:8,103
Points:1,790,075
Joined:Oct 2008
Message Posted: Apr 30, 2012 12:23:23 PM

Keep dropping. Outrageously overpriced.
kzrooster
Champion Author Kalamazoo

Posts:5,423
Points:1,285,870
Joined:Nov 2011
Message Posted: Apr 30, 2012 11:59:43 AM

Crude may drop but gas still is going up. It takes forever to see a drop in crude at the pump, but just moments when it goes up.
asog75
All-Star Author Indiana

Posts:889
Points:330,760
Joined:Aug 2011
Message Posted: Apr 30, 2012 11:56:32 AM

still over priced by $35.00 a barrel
OTISFL
Champion Author Pensacola

Posts:5,993
Points:1,160,510
Joined:Apr 2009
Message Posted: Apr 30, 2012 11:52:43 AM

Continue to drop---as in around $2.00 per gallon!!! Election won't mean jack diddly now with Romeney who is about the same as Bummer Bama.
peakkeller
Champion Author Colorado Springs

Posts:2,464
Points:940,545
Joined:Dec 2009
Message Posted: Apr 30, 2012 11:49:58 AM

Good
jakessoccermom
Veteran Author Wisconsin

Posts:260
Points:1,232,095
Joined:May 2010
Message Posted: Apr 30, 2012 11:29:46 AM

Oil prices and global growth are joined at the hip. You can't have global growth without oil and if oil supply continues to be a problem (when is it not) then we can expect global growth to backslide.
WildmanMick
Veteran Author North Carolina

Posts:426
Points:316,640
Joined:May 2011
Message Posted: Apr 30, 2012 10:57:00 AM

If " oil prices" were really worried about "global growth concerns", they would be around $50/barrel. "Oil prices" is the major enemy of "global growth"...
vcsuksu21
Champion Author Virginia

Posts:2,543
Points:1,030,085
Joined:Dec 2010
Message Posted: Apr 30, 2012 10:54:10 AM

good, the free market is working
tatker
Champion Author Asheville

Posts:4,398
Points:1,091,755
Joined:Dec 2010
Message Posted: Apr 30, 2012 10:49:11 AM

Thanks Obama... sacrasm.
MustangRacing
Champion Author Virginia

Posts:4,522
Points:1,393,720
Joined:May 2011
Message Posted: Apr 30, 2012 10:37:23 AM

Need it down around $70
bluebird1
Champion Author Toronto

Posts:18,989
Points:3,864,235
Joined:May 2004
Message Posted: Apr 30, 2012 10:35:46 AM

But not dropping much based on stockpiles - plus look at the spread!!!
amoshins
Champion Author Trenton

Posts:4,296
Points:1,334,295
Joined:Apr 2011
Message Posted: Apr 30, 2012 10:33:05 AM

2.2% economic growth Jan-MAr with rising fuel prices is not sustainable
FPLREP
Champion Author Virginia

Posts:12,226
Points:3,227,260
Joined:Oct 2005
Message Posted: Apr 30, 2012 10:22:00 AM

Is anyone out there seeing that high "fuel' prices are collapsing economies everywhere?
DYSKYPILOT
Champion Author Fort Worth

Posts:5,754
Points:1,373,700
Joined:Mar 2006
Message Posted: Apr 30, 2012 10:21:51 AM

Needs to drop more.
Post a reply Back to Topics