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Author	Topic: Brent Holds Above $118, Caution Ahead of US Data	Post a Reply Back to Topics

WxVette Rookie Author Omaha Posts:34 Points:1,014,205 Joined:Jul 2007	Message Posted: May 3, 2012 5:05:47 AM Ignore WxVette Report Abuse Brent crude steadied above $118 a barrel on Thursday, reflecting caution among investors ahead of a key U.S. employment report after dismal data from the United States to Europe renewed doubts about the state of the global economy. Oil slid the most in two weeks on Wednesday as investors sold off commodities and equities after data showed hiring by U.S. private firms in April was the slowest since September, new orders for U.S. factory goods suffered the steepest drop in three years and the euro zone's manufacturing sector index marked its lowest reading since June 2009. "Risk markets are overall very cautious ahead of this nonfarm payroll data, that's why we're seeing reduced volumes and a few bets being taken off the table," said Ben Le Brun, market analyst at OptionsXpress in Sydn Visit Reuters for full article

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Brent crude steadied above $118 a barrel on Thursday, reflecting caution among investors ahead of a key U.S. employment report after dismal data from the United States to Europe renewed doubts about the state of the global economy.

Oil slid the most in two weeks on Wednesday as investors sold off commodities and equities after data showed hiring by U.S. private firms in April was the slowest since September, new orders for U.S. factory goods suffered the steepest drop in three years and the euro zone's manufacturing sector index marked its lowest reading since June 2009.

"Risk markets are overall very cautious ahead of this nonfarm payroll data, that's why we're seeing reduced volumes and a few bets being taken off the table," said Ben Le Brun, market analyst at OptionsXpress in Sydn
Visit Reuters for full article

REPLIES (newest first)Ignore Short Messages

jrs4125 Champion Author Indiana Posts:2,763 Points:592,720 Joined:Sep 2011	Message Posted: May 4, 2012 3:43:15 AM Ignore jrs4125 Report Abuse ok
TRYWI All-Star Author Appleton Posts:898 Points:282,150 Joined:Jan 2012	Message Posted: May 3, 2012 11:43:24 PM Ignore TRYWI Report Abuse k
K9LO Champion Author North Dakota Posts:2,690 Points:544,955 Joined:Nov 2010	Message Posted: May 3, 2012 10:00:57 AM Ignore K9LO Report Abuse Still too high.
BlueLesPaul2006 Veteran Author Delaware Posts:401 Points:92,900 Joined:Mar 2010	Message Posted: May 3, 2012 8:09:29 AM Ignore BlueLesPaul2006 Report Abuse Still way to high
investmentdr Champion Author Cleveland Posts:4,034 Points:1,456,025 Joined:Sep 2008	Message Posted: May 3, 2012 7:46:08 AM Ignore investmentdr Report Abuse down a ton now
bruin19MD Champion Author Maryland Posts:1,064 Points:164,450 Joined:Feb 2011	Message Posted: May 3, 2012 7:04:27 AM Ignore bruin19MD Report Abuse hmmm
TruthMatters Champion Author New Jersey Posts:2,520 Points:534,735 Joined:Oct 2011	Message Posted: May 3, 2012 6:54:10 AM Ignore TruthMatters Report Abuse Who's this Brent guy and why are we keep hearing about him? I'm tired of reading articles about prices going up and down from day to day. There must be other articles more interesting out there besides gas prices going up and down! I mean, what else is new?
FPLREP Champion Author Virginia Posts:8,266 Points:2,449,225 Joined:Oct 2005	Message Posted: May 3, 2012 6:36:13 AM Ignore FPLREP Report Abuse Not a speculator, but I would sell because the data is NOT going to be good. The recovery is just not happening under Obama because he does not understand business and he makes businesses uneasy.
dorisntx Champion Author Fort Worth Posts:2,079 Points:646,605 Joined:Apr 2011	Message Posted: May 3, 2012 5:32:44 AM Ignore dorisntx Report Abuse ok
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: May 3, 2012 5:32:34 AM Ignore dh0770 Report Abuse "caution among investors"? Only for their own greed!
Joeski1 Champion Author New Jersey Posts:10,007 Points:1,742,810 Joined:Dec 2004	Message Posted: May 3, 2012 5:26:18 AM Ignore Joeski1 Report Abuse High priced oil is now a routine grind. Too bad for the folks at the lower fringes, their lives will be affected the worst as the "chain of pain" reverberates upward through the classes.
Buckeyee Champion Author Maine Posts:4,611 Points:900,600 Joined:May 2010	Message Posted: May 3, 2012 5:25:52 AM Ignore Buckeyee Report Abuse Have to keep the oil prices up, even with the world glut of oil.
Point__man Champion Author Raleigh Posts:4,340 Points:878,670 Joined:Oct 2010	Message Posted: May 3, 2012 5:23:17 AM Ignore Point__man Report Abuse sure would be nice to see the Iran issue defused once and fo a long, long time ;) that would flood the oil market with surplus oil :)
Evilmaddog Champion Author British Columbia Posts:3,327 Points:958,525 Joined:Aug 2010	Message Posted: May 3, 2012 5:07:09 AM Ignore Evilmaddog Report Abuse $$$$$