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Oil dips below $96 a day after sharp drop

The Associated Press -- PABLO GORONDI
Published: September 18th, 2012 04:31 AM
Last Modified: September 18th, 2012 04:45 AM

The price of oil slipped below $96 a barrel on Tuesday, adding to losses from the previous day, when prices took a sudden and unexplained plunge.

By early afternoon in Europe, benchmark crude for October delivery was down 82 cents at $95.80 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $2.38, or 2.4 percent, to finish at $96.62 a barrel on the Nymex on Monday.

In London, Brent was down 40 cents at $113.39 a barrel on the ICE Futures exchange.

On Monday afternoon in the U.S., oil suddenly plunged more than $4 per barrel in both New York and London, erasing the gains made last week when the Federal Reserve unveiled new steps to boost the U.S.


Read the Full Article

Submitted Sep 18, 2012 By: Nitewolf
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil dips below $96 a day after sharp drop Back to Topics
REPLIES (newest first) Post a Reply
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jvf514
Rookie Author Chicago

Posts:69
Points:37,265
Joined:Mar 2012
Message Posted: Jun 7, 2013 9:34:10 AM

..

[Edited by: jvf514 at 6/7/2013 10:35:45 AM EST]
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honda0105
Champion Author Tallahassee

Posts:22,186
Points:2,060,515
Joined:Nov 2008
Message Posted: Sep 23, 2012 7:06:16 AM

crude down, pump prices still up...
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CPGas1815
Champion Author Michigan

Posts:6,060
Points:1,110,190
Joined:Apr 2008
Message Posted: Sep 19, 2012 4:13:56 PM

What I would like to see is a decrease of the outrageous and completely unjustified price at the pump.
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BEGTWO
Champion Author Maryland

Posts:3,821
Points:1,144,230
Joined:Sep 2010
Message Posted: Sep 19, 2012 10:22:21 AM

GREAT!!!
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southrob
Champion Author Tucson

Posts:5,692
Points:1,120,575
Joined:Mar 2011
Message Posted: Sep 19, 2012 12:34:49 AM

dhan for cheap gas
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jkpsr
Champion Author New Jersey

Posts:5,811
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Joined:Jun 2005
Message Posted: Sep 18, 2012 11:30:42 PM

$69 would be more sustainable.
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miser709
Champion Author Grand Rapids

Posts:1,278
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Joined:Mar 2004
Message Posted: Sep 18, 2012 11:28:07 PM

Dips, funny.
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langolera
Champion Author Akron

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Joined:Sep 2005
Message Posted: Sep 18, 2012 11:26:03 PM

yeah yeah yeah. I'll get excited when I see it at the pump. Yeah right........
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EVBuddy
Champion Author Nevada

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Joined:Sep 2004
Message Posted: Sep 18, 2012 11:24:45 PM

ok
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tedjm1
Champion Author New York

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Joined:Dec 2006
Message Posted: Sep 18, 2012 11:24:16 PM

okay
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boatfloyd
Champion Author Jacksonville

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Joined:Mar 2012
Message Posted: Sep 18, 2012 11:24:08 PM

Keep the price coming down.
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Hi1
Champion Author Ontario

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Joined:Jun 2007
Message Posted: Sep 18, 2012 11:23:28 PM

But still not dropping
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Vette1967
Champion Author Albany

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Message Posted: Sep 18, 2012 11:22:10 PM

Show me the pump price drop.
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viperND
Champion Author South Bend

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Message Posted: Sep 18, 2012 11:20:25 PM

gas $2 yet?
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millerin
Champion Author Orlando

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Message Posted: Sep 18, 2012 11:19:49 PM

will see tomorrow
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5Golfer8
Champion Author Tucson

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Message Posted: Sep 18, 2012 11:19:39 PM

Don't worry Obama wont allow the prices at the pump to go down.
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tttmikeb
Champion Author St. Louis

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Message Posted: Sep 18, 2012 11:19:24 PM

ok
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Ltdc
Champion Author Long Island

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Message Posted: Sep 18, 2012 11:15:31 PM

Until it shows up at the pump it doesn't help.
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crreed1
Champion Author West Virginia

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Message Posted: Sep 18, 2012 11:14:29 PM

they drag there ass when it goes down
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quasar502
Champion Author Lansing

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Points:1,232,855
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Message Posted: Sep 18, 2012 11:14:02 PM

Should be one heck of a lot lower. What a scam.
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Blue_Cruzer
Champion Author Lexington

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Message Posted: Sep 18, 2012 11:13:46 PM

Speculation!!
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heartbroken2010
Champion Author Ottawa

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Points:1,347,405
Joined:Aug 2010
Message Posted: Sep 18, 2012 11:13:11 PM

1 day drop , 3 days of rising.
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Bigwaynef
Champion Author South Carolina

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Message Posted: Sep 18, 2012 11:12:03 PM

Yay, maybe gas will go down at the alarming rate of 2 cents a week...
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unicornpmb
Champion Author Buffalo

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Message Posted: Sep 18, 2012 11:09:29 PM

Right.
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joel27nc
Champion Author Raleigh

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Message Posted: Sep 18, 2012 11:08:03 PM

What sharp drop?
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rahcat
Champion Author Grand Rapids

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Message Posted: Sep 18, 2012 11:07:21 PM

Goes up like a rocket .......drops like a feather.
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inspiretl
Veteran Author New Jersey

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Message Posted: Sep 18, 2012 11:07:03 PM

oil drops, gas prices stays
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judgemobile
Champion Author Ohio

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Message Posted: Sep 18, 2012 11:06:09 PM

greed and speculation still trump supply and demand.
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ManOfLeisureII
Champion Author Philadelphia

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Message Posted: Sep 18, 2012 11:04:27 PM

Buy oil company stocks
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Ray_10589
Champion Author New York

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Message Posted: Sep 18, 2012 11:04:05 PM

Conflicting stories
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PrinceLH
Champion Author Ontario

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Joined:Jun 2011
Message Posted: Sep 18, 2012 11:01:18 PM

It will be a short fall and a long rise.
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ProRogue
All-Star Author Vancouver

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Message Posted: Sep 18, 2012 11:00:57 PM

Hear hear, jrsva!

..problem is, it's an easy 20 points. And because this forum has a limited history, these useless comments push away comments from those who may have posted something relevant.

May they NEVER win gas cards!!!
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GigHarborHound
Champion Author Tacoma

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Message Posted: Sep 18, 2012 10:59:08 PM

We'll see!!
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menagerie1013
Champion Author San Diego

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Message Posted: Sep 18, 2012 10:54:11 PM

Would be nice if they passed the savings on to the consumer.
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jrsva
Champion Author Virginia

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Joined:Jan 2006
Message Posted: Sep 18, 2012 10:53:14 PM


“hm”
“.”
“ok”

Gee, i don’t know what we would do without such in-depth comments from you folks.
If you cannot get a life and participate in the discussion, go on over to JFF with your fluff.

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Mustache_33
All-Star Author Toronto

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Message Posted: Sep 18, 2012 10:42:48 PM

hm
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suchont
Veteran Author Los Angeles

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Joined:May 2012
Message Posted: Sep 18, 2012 10:40:58 PM

.
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aggietim
Champion Author Fort Worth

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Joined:Oct 2008
Message Posted: Sep 18, 2012 10:40:51 PM

ok
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SavALot
Champion Author Virginia Beach

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Joined:Apr 2005
Message Posted: Sep 18, 2012 10:40:31 PM

Sharp drops and sharp rises
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pgerassi
Champion Author Milwaukee

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Message Posted: Sep 18, 2012 10:40:20 PM

KEEP FALLING!
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GoGoGoodyear
Champion Author Los Angeles

Posts:4,045
Points:747,785
Joined:Mar 2010
Message Posted: Sep 18, 2012 10:38:01 PM


More than likely speculator action if the market cannot otherwise explain it. Especially after the expected rise in oil price last week caused by the Fed's QE-3, and the continuing bad news out of the middle east.

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BoerneWatch
Champion Author San Antonio

Posts:17,787
Points:2,904,590
Joined:Oct 2005
Message Posted: Sep 18, 2012 10:36:46 PM

Wait a minute.

We have declining gas inventories, increased production and oil is dropping?

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DrCashFlow
Champion Author Massachusetts

Posts:9,110
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Joined:Jun 2008
Message Posted: Sep 18, 2012 10:34:59 PM

if fed is going to flood forever, hedge gas prices by owning some gold
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abcdMA
Champion Author Worcester

Posts:10,023
Points:2,017,315
Joined:Nov 2008
Message Posted: Sep 18, 2012 10:34:17 PM

temporary drop off
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LostToo
Champion Author Illinois

Posts:4,392
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Joined:May 2009
Message Posted: Sep 18, 2012 10:34:12 PM

"ICE Futures exchance"????? The future of ICE is water.
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fowlcan
Champion Author Oklahoma City

Posts:3,715
Points:1,111,760
Joined:Feb 2011
Message Posted: Sep 18, 2012 10:29:14 PM



The dip here was reflected at the pump by 1Cent / gallon.
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fullauto
Champion Author Reading

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Joined:Apr 2008
Message Posted: Sep 18, 2012 10:29:12 PM

push-ups
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IUVidiot
Champion Author Indiana

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Joined:Jun 2011
Message Posted: Sep 18, 2012 10:23:30 PM

Nothing dropping here
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tonoplast
Champion Author Lexington

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Message Posted: Sep 18, 2012 10:23:26 PM

Yep. The weakening dollar means every import costs more.
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benjy
Champion Author Chicago

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Joined:Nov 2003
Message Posted: Sep 18, 2012 10:23:20 PM

oil down and gas is up... go figure...
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