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Oil prices fall with US budget talks stalling just 8 days before 'fiscal cliff'

Associated Press -- Oil prices fell Monday, just eight days before the U.S. arrives at the "fiscal cliff" deadline without a budget agreement in place.

If no deal is reached by Jan. 1, steep tax increases and government spending cuts will automatically take effect that will jar the U.S. economy and potentially throw it into recession, economists have warned.

Benchmark oil for February delivery fell 14 cents to $88.52 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.47 Friday to finish at $88.66 per barrel in New York, the contract's lowest point in three weeks. It dropped to $87.96 per barrel at one point Friday.

Oil prices tend to drop when a major world economy is threatened by a downturn, which more often than not leads to reduced deman


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Submitted Dec 24, 2012 By: RENEGADEGAS
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil prices fall with US budget talks stalling just 8 days before 'fiscal cliff' Back to Topics
REPLIES (newest first) Post a Reply
bston
Champion Author Oklahoma City

Posts:4,991
Points:1,413,675
Joined:Mar 2011
Message Posted: Dec 26, 2012 7:56:34 AM

Gas prices fall the past month or so, but certainly won't continue to stay falling like they've risen the past few years!
jrs4125
Champion Author Indiana

Posts:4,989
Points:1,341,260
Joined:Sep 2011
Message Posted: Dec 26, 2012 1:07:26 AM

Oil prices fall..... pump price remains the same.
1fulltank
Champion Author Buffalo

Posts:10,907
Points:2,280,680
Joined:Nov 2008
Message Posted: Dec 25, 2012 1:13:44 PM

Nice to see prices actually FALL on the heels of bad news.
niceguytx
Champion Author Houston

Posts:16,876
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Message Posted: Dec 25, 2012 10:10:59 AM

More good news!
CDMAuto
Champion Author Connecticut

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Message Posted: Dec 25, 2012 7:45:15 AM

Merry Christmas,
gs7101
Champion Author San Antonio

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Message Posted: Dec 25, 2012 5:57:44 AM

Merry Christmas To All!
sciguyrulz
Rookie Author Houston

Posts:48
Points:993,935
Joined:Mar 2011
Message Posted: Dec 25, 2012 1:22:08 AM

What saddens me about the "fiscal cliff" is that it is entirely man made. The representatives that were elected to office to protect our best interests can't get it together and have created our crisis. This isn't greed, it is ego....and that is really sickening!
NemoIL
Champion Author Illinois

Posts:5,781
Points:2,016,610
Joined:Aug 2008
Message Posted: Dec 24, 2012 11:39:28 PM

Going over the fiscal cliff gives obama everything he wants, higher taxes on everybody, huge cuts to the military, and it grows the size of the federal government. And he can blame the republicans for the damage it does to our country.
sarasotasingle
Champion Author Sarasota

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Message Posted: Dec 24, 2012 11:30:42 PM

PRICES ARE GOING UP HERE
crreed1
Champion Author West Virginia

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Joined:May 2005
Message Posted: Dec 24, 2012 11:16:51 PM

they are on vacation
jcdakota
Champion Author Baltimore

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Joined:Nov 2010
Message Posted: Dec 24, 2012 11:12:52 PM

It's after the election so don't worry about the voters!! Jump over the cliff!!!
jetlagAK
Champion Author Anchorage

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Joined:Jan 2010
Message Posted: Dec 24, 2012 11:11:02 PM

Budget talks! Ha!
UpSol7
Champion Author Augusta

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Joined:Sep 2008
Message Posted: Dec 24, 2012 11:10:00 PM

Gosh, gas prices fluctuate?
judgemobile
Champion Author Ohio

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Joined:Nov 2005
Message Posted: Dec 24, 2012 11:08:29 PM

after we go over the cliff, will the whole economy be "shovel ready" ?
Dailyrun
Champion Author Kentucky

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Joined:Apr 2012
Message Posted: Dec 24, 2012 11:08:16 PM

its a big mess
JamesCalvin
Champion Author Lancaster

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Joined:Nov 2011
Message Posted: Dec 24, 2012 11:06:43 PM

Sell gas quickly!

Sell gas quickly!

Sell gas quickly!

Sell gas quickly!

Sell gas quickly!

pastorpaulcg
Champion Author Virginia

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Points:778,235
Joined:Dec 2010
Message Posted: Dec 24, 2012 11:06:29 PM

Prices aren't falling around here
TXGasPriceSpy
Champion Author Fort Worth

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Message Posted: Dec 24, 2012 11:06:07 PM

Merry Christmas.
arb0526
Champion Author Greensboro

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Message Posted: Dec 24, 2012 11:05:21 PM

old news
regout
Champion Author Quebec

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Message Posted: Dec 24, 2012 11:05:00 PM

Good, maybe it will fall here.
boatfloyd
Champion Author Jacksonville

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Message Posted: Dec 24, 2012 11:04:59 PM

Prices go up and down.
thuathienhue
Champion Author Michigan

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Message Posted: Dec 24, 2012 11:04:09 PM

Ok
joel27nc
Champion Author Raleigh

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Message Posted: Dec 24, 2012 11:04:05 PM

Needs to keep falling!
cheaper0ON
Champion Author Ontario

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Message Posted: Dec 24, 2012 11:03:34 PM

Good.
Bus936
Champion Author Lexington

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Message Posted: Dec 24, 2012 11:03:31 PM

Oil could have fallen, but the pump prices sure haven't.
amearly
Champion Author Michigan

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Message Posted: Dec 24, 2012 11:02:33 PM

Merry Christmas to all.
carpenter4u
Champion Author Virginia

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Message Posted: Dec 24, 2012 11:01:46 PM

haven't seen it around here
NAVYHM
All-Star Author Cleveland

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Message Posted: Dec 24, 2012 10:59:44 PM

OK...
regout
Champion Author Quebec

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Message Posted: Dec 24, 2012 10:59:14 PM

Good, maybe it will fall here.
frostyWV
Champion Author West Virginia

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Message Posted: Dec 24, 2012 10:56:32 PM

keep on falling.
Aviator_Rob
Champion Author New York

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Message Posted: Dec 24, 2012 10:53:38 PM

Well, let me ask you something, @texasvet. When is this gonna stop? I mean it's Christmas, for Pete's sake and we have people here saying that the President is scum for going on vacation. There's nobody in Washington. They've all gone home! But I don't hear one peep about that.

I hate to break it to these people but we had an election and the guy you voted for didn't get elected. I'm sorry you're disappointed but get over it. Please tell me how all this venting of bile is helping anything.
clermont40miles
Champion Author Cincinnati

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Message Posted: Dec 24, 2012 10:53:25 PM

This is like saying oil prices fall as winter snow blankets North Dakota.

No correlation.

The cliff is approaching as planned. It won't hurt - the falling part. It's the sudden stop that gets you.

Let's all hold hands as we go down together. Maybe sing Kumbaya on the way down. Who are those guys up there laughing at us?
36IHBinder
Champion Author Illinois

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Message Posted: Dec 24, 2012 10:53:22 PM

Put on your parachute. We are going over
serrog
Champion Author Nova Scotia

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Message Posted: Dec 24, 2012 10:51:45 PM

I cant believe this political one upmanship and name calling. Time to rally together Americans and get the economy fixed.
pastorpaulcg
Champion Author Virginia

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Joined:Dec 2010
Message Posted: Dec 24, 2012 10:51:38 PM

Not around here, starting to rise
vibdata
Champion Author Massachusetts

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Joined:Nov 2005
Message Posted: Dec 24, 2012 10:51:12 PM

Sorry. But I saw that oil prices ROSE today. They did not drop. And gas prices, which everyone was proclaiming would drop a lot, rose also. That means PAIN in the PUMP for all you GASSERS.
goodbuy
Champion Author Michigan

Posts:10,669
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Message Posted: Dec 24, 2012 10:50:11 PM

Lets do nothing and let the pieces fall where they may.
tidalwave3
Champion Author Tallahassee

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Message Posted: Dec 24, 2012 10:48:13 PM

Liberals can't accept responsibility.
texasvet
Champion Author Texas

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Message Posted: Dec 24, 2012 10:46:15 PM

Aviator Rob - That was a pretty curmudgeonly statement.
texasvet
Champion Author Texas

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Message Posted: Dec 24, 2012 10:44:47 PM

N4PIP - You're what they refer to as a "low information voter".
pcwhiz5385
Sophomore Author Georgia

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Joined:May 2012
Message Posted: Dec 24, 2012 10:39:07 PM

we're doing so good, then they throw us back into recession
Aviator_Rob
Champion Author New York

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Joined:Mar 2012
Message Posted: Dec 24, 2012 10:35:43 PM

Wow, seriously people. Do the Internet trolls on this forum not take off one day even for CHRISTMAS??? You people should be ashamed of yourselves. What happened in your lives to make all of you such unyielding curmudgeons?

You're all a bunch of grinches that need your hearts to grow three sizes.
ramshot412
Champion Author Riverside

Posts:23,204
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Message Posted: Dec 24, 2012 10:31:52 PM

The Republi-Cons holding up everything.
N4PIP
Champion Author Miami

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Joined:Jan 2012
Message Posted: Dec 24, 2012 10:31:16 PM

Boehner and the Republicans screwed the U.S. economy over during the Bush years. Look what happened in 2008. Here we go again. Time to clean the House of anyone who pledges allegiance to Grover Norquist.
Aviator_Rob
Champion Author New York

Posts:7,451
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Joined:Mar 2012
Message Posted: Dec 24, 2012 10:30:28 PM

None of these predictions hold any weight. We'll just have to wait and see what happens.
kzrooster
Champion Author Kalamazoo

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Message Posted: Dec 24, 2012 10:29:57 PM

anytime . . . .
CCLighthouse
Champion Author Hartford

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Joined:Aug 2012
Message Posted: Dec 24, 2012 10:29:15 PM

Won't matter.
Dragnet
Champion Author Arizona

Posts:18,773
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Joined:Jul 2004
Message Posted: Dec 24, 2012 10:27:20 PM

And Odummo is in Hawaii ignoring the whole thing. Some chief executive this nation has.
FuelOilOH
Champion Author Cleveland

Posts:2,871
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Joined:Oct 2007
Message Posted: Dec 24, 2012 10:24:06 PM

And on 12/26 it will go back up.
BBHybrid
Champion Author Pittsburgh

Posts:6,530
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Joined:Aug 2008
Message Posted: Dec 24, 2012 10:22:31 PM

liars. gas has not receedied. made up bull spit here
BIGREDNM
Champion Author Albuquerque

Posts:3,969
Points:919,240
Joined:Oct 2010
Message Posted: Dec 24, 2012 10:20:16 PM

We really need to fire everyone in Washington and start over with those who want to work for the people of America and not for themselves, the ones that are there now are lying, thieving, and traitors to our great, but but failing country, and they have duped us into believing their lies, they make laws that we are to follow, and they and their families are exempt from, why do we let them do this, This country was founded on WE THE PEOPLE, not WE THE GOVERNMENT.
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