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GasBuddy News Article

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Crude Oil Falls to Four-Day Low on China Slowdown, European Debt

Bloomberg -- Oil dropped to the lowest level in four days in New York, falling below $89 a barrel amid speculation that global fuel demand will falter as China's economy slows and Europe struggles to control its debt crisis.

Futures slid as much as 3.7% after a Chinese central bank adviser said the nation's economy may cool further, putting at risk consumption in the world's second-biggest crude consumer. International creditors meet in Athens tomorrow as concern grows that Greece may not meet its bailout targets and after an aid package for Spain failed to prevent the cost of insuring its government's debt rose to a record.

"The continuing saga of the euro, and in particular the travails of Spain and fears that this will soon be played out in France and Italy, is driving today's sell-off," ...


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Submitted Jul 23, 2012 By: brbaritone
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Crude Oil Falls to Four-Day Low on China Slowdown, European Debt Back to Topics
REPLIES (newest first) Post a Reply
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sparky808
Champion Author Honolulu

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Message Posted: Jul 24, 2012 12:27:14 PM

Thank you for posting.
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otherdave
Champion Author Indiana

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Message Posted: Jul 24, 2012 6:00:00 AM

Not seeing it at the pump.
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hogfan24
Champion Author Arkansas

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Message Posted: Jul 24, 2012 4:13:12 AM

Ok
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defiancegasman
Champion Author Ohio

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Message Posted: Jul 24, 2012 12:08:14 AM

Start of another REPUBLICAN RECESSION!!
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LanguageMan1
Champion Author Tampa

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Message Posted: Jul 24, 2012 12:08:13 AM

Good to see the prices fall. But, they'll only fall a little before going back up again.
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crreed1
Champion Author West Virginia

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Message Posted: Jul 23, 2012 11:20:30 PM

a total mess
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Number43
Champion Author Lexington

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Message Posted: Jul 23, 2012 11:17:10 PM

For that to happen Bud , it would require planing and leadership.Obummer can't do either.
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silverfox63
Champion Author Michigan

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Message Posted: Jul 23, 2012 11:16:43 PM

It will not stay down long unless the situation in Europe gets a lot worse.
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TFowler513
Champion Author Memphis

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Message Posted: Jul 23, 2012 11:15:01 PM

Is 20121221 not here yet??? The world needs a mulligan!!!
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regout
Champion Author Quebec

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Message Posted: Jul 23, 2012 11:14:22 PM

Another reason for anything.
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Bud122CA
Champion Author California

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Message Posted: Jul 23, 2012 11:13:59 PM

America has so ;much oil and we could boost our economy, and become independant of foreign oil if we only used our heads and drilled and pumped NOW. Jobs, lower prices ?????
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1fulltank
Champion Author Buffalo

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Message Posted: Jul 23, 2012 11:12:11 PM

The world is a mess.
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ShadowACE
Champion Author Boston

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Message Posted: Jul 23, 2012 11:12:10 PM

That is great news! Now we can expect the price at the pump to go down by a nickel just after Christmas...
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sprocketsplines
Champion Author Washington

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Message Posted: Jul 23, 2012 11:11:15 PM

Many countries would be quite content to have China's 7.4% economic growth.
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ssect8
Champion Author Hartford

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Message Posted: Jul 23, 2012 11:08:26 PM

Have no fear the price will go up sooner rather than later.
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rahcat
Champion Author Grand Rapids

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Message Posted: Jul 23, 2012 11:07:20 PM

Let it fall, let it fall, let it fall.
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langolera
Champion Author Akron

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Message Posted: Jul 23, 2012 11:05:57 PM

ok
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Ticoman54
Champion Author Miami

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Message Posted: Jul 23, 2012 11:05:26 PM

With the world economy in shabbles, there is no reason for crude to be anywhere near $90 and gas prices around $3.50.
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Dodge_Me
Champion Author Atlanta

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Message Posted: Jul 23, 2012 11:05:00 PM

Hmm, for the moment
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SteelPenny
Champion Author Dallas

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Message Posted: Jul 23, 2012 11:04:49 PM

Yup.
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millerin
Champion Author Orlando

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Message Posted: Jul 23, 2012 11:04:48 PM

hmm...
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joel27nc
Champion Author Raleigh

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Message Posted: Jul 23, 2012 11:04:35 PM

Not dropping in the USA
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altonb1
Champion Author Pennsylvania

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Message Posted: Jul 23, 2012 11:02:51 PM

c'mon people...just because oil drops 1 day does not mean pump prices will drop the same day.
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drz614
Champion Author Harrisburg

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Message Posted: Jul 23, 2012 11:00:16 PM

ok
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TIGERPAW46
Champion Author Florida

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Message Posted: Jul 23, 2012 10:59:52 PM

Good, that is that oil prices should lower, & thus gasoline etc.



[Edited by: TIGERPAW46 at 7/24/2012 12:01:23 AM EST]
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Jul 23, 2012 10:56:07 PM

The pump prices have not dropped.....
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silverfoxv65
Champion Author Michigan

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Message Posted: Jul 23, 2012 10:55:19 PM

It needs to fall to a 100 year low!
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jimedB
Champion Author Riverside

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Message Posted: Jul 23, 2012 10:53:32 PM

I'll bet this dosen't last long. Then the next problem will cause the per barrel price to go to the $100 they have been trying to reach.
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Shakleelady31
All-Star Author Fort Wayne

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Message Posted: Jul 23, 2012 10:53:00 PM

Okay.
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CPGas1815
Champion Author Michigan

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Message Posted: Jul 23, 2012 10:52:09 PM

I was shaocked to see local prices decrease this afternoon. But I still thinj local prices are way too high.
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bonzoonfmb
Champion Author Florida

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Message Posted: Jul 23, 2012 10:46:31 PM

Gas prices are too high.
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WIPACKERFAN
Champion Author Chicago

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Message Posted: Jul 23, 2012 10:44:18 PM

Let oil do its freefall.
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Blue48
Champion Author Illinois

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Message Posted: Jul 23, 2012 10:42:30 PM

UP..DOWN..UP..DOWN!
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Buddy2264
Champion Author Tampa

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Message Posted: Jul 23, 2012 10:42:10 PM

I thought every thought China was having a "soft landing" and would not cause a big impact. Time will tell.
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streetcars
Champion Author Toledo

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Message Posted: Jul 23, 2012 10:41:07 PM

Have not seen it in the gas prices around here yet.
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SpankyMI
Champion Author Kalamazoo

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Message Posted: Jul 23, 2012 10:40:39 PM

Bad news causes the price of oil to drop, I thought it was the other way?

[Edited by: SpankyMI at 7/23/2012 11:42:27 PM EST]
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Prodaddy
Champion Author Houston

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Message Posted: Jul 23, 2012 10:39:59 PM

Drop baby Drop
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RBob
Champion Author Portland

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Message Posted: Jul 23, 2012 10:38:21 PM


Prices around here went up 5-10/gal for both gas and diesel over the weekend and they are up again today. The oil barons not only get tax subsidies but they are gouging the public.

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mstearno
Champion Author Dayton

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Message Posted: Jul 23, 2012 10:37:38 PM

we get to pay no matter what
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Mikeyl
Champion Author Cleveland

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Message Posted: Jul 23, 2012 10:34:11 PM

Gas prices JUMP QUICKLY and fall slooowwwllllyyy.
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mdskier
Champion Author Sacramento

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Message Posted: Jul 23, 2012 10:34:07 PM

Since we're visiting Spain this fall it's ok by us if the Euro
drops from the current 1.21 to 1.00 to the Dollar by then.

Our US dollar then goes further !
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drobbbb
Champion Author Maryland

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Message Posted: Jul 23, 2012 10:33:59 PM

ok
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bradley1969
Champion Author Wisconsin

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Message Posted: Jul 23, 2012 10:32:09 PM

RALLY!!!!!GSHA GONEUP EVERY DAY HERE FOR OVER A WEEK. STILL GETTING SCREWED!!!!!!!!!!!!!!!GAS IS STILL 2 HIGH AT THE PUMPS!!!!!!!!!!
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mrbee
Champion Author Little Rock

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Message Posted: Jul 23, 2012 10:29:06 PM

What a mess.
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Goofoff
Champion Author Virginia

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Message Posted: Jul 23, 2012 10:27:57 PM

Mixed signals
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UseLessGasFolks
Champion Author Iowa

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Message Posted: Jul 23, 2012 10:27:43 PM


Going much lower...
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Crumbfel
Champion Author Virginia

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Message Posted: Jul 23, 2012 10:24:58 PM

Okay that one is read
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DEG
Champion Author Las Vegas

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Message Posted: Jul 23, 2012 10:20:52 PM

And gas prices are going up.
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DustyHorse
Champion Author Virginia

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Message Posted: Jul 23, 2012 10:18:45 PM

Notice how long it takes for gasoline prices to start falling.
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blazerbob91
Champion Author Milwaukee

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Message Posted: Jul 23, 2012 10:17:35 PM

China will control the market
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