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Author	Topic: Oil Falls on ‘More Uncertain’ European Economic Outlook	Post a Reply Back to Topics

johntxx Champion Author Texas Posts:2,766 Points:613,395 Joined:Aug 2011	Message Posted: May 3, 2012 12:13:38 PM Ignore johntxx Report Abuse Oil tumbled the most this year as European Central Bank President Mario Draghi said the euro area’s economic outlook has become “more uncertain.” Prices fell 2.5 percent as Draghi said the region’s economic forecast is subject to downside risks, though the ECB still expects a gradual recovery this year. The central bank held its benchmark interest rate at a record low of 1 percent. Oil’s loss accelerated after data showed U.S. service industries expanded at a slower pace than projected in April... ...‘Primary Driver’ Austerity measures aimed at stemming the debt crisis have pushed economies from the Netherlands to Spain back into recession... ...U.S. oil supplies rose to a 21-year high last week, the Energy Department reported yesterday. Visit Bloomberg for full article

johntxx

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Message Posted: May 3, 2012 12:13:38 PM

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Oil tumbled the most this year as European Central Bank President Mario Draghi said the euro area’s economic outlook has become “more uncertain.”

Prices fell 2.5 percent as Draghi said the region’s economic forecast is subject to downside risks, though the ECB still expects a gradual recovery this year. The central bank held its benchmark interest rate at a record low of 1 percent. Oil’s loss accelerated after data showed U.S. service industries expanded at a slower pace than projected in April...

...‘Primary Driver’
Austerity measures aimed at stemming the debt crisis have pushed economies from the Netherlands to Spain back into recession...

...U.S. oil supplies rose to a 21-year high last week, the Energy Department reported yesterday.
Visit Bloomberg for full article

REPLIES (newest first)Ignore Short Messages

Eliano Champion Author Baltimore Posts:1,412 Points:388,100 Joined:Jun 2011	Message Posted: May 4, 2012 6:02:36 PM Ignore Eliano Report Abuse ok
PathfinderSC Champion Author South Carolina Posts:9,506 Points:1,827,940 Joined:Mar 2008	Message Posted: May 3, 2012 8:33:29 PM Ignore PathfinderSC Report Abuse Fall to $60.00
amerk73 Champion Author Dallas Posts:7,033 Points:1,618,115 Joined:Oct 2008	Message Posted: May 3, 2012 7:48:29 PM Ignore amerk73 Report Abuse oil falls for few days
TomT2Lee Champion Author Cincinnati Posts:5,347 Points:1,595,305 Joined:Sep 2005	Message Posted: May 3, 2012 4:35:15 PM Ignore TomT2Lee Report Abuse It is amazing how most people can not grasp what is going on. They keep wanting the government to do something. The government has done something; that's why we have the problem. They will keep doing more and the situation will get worse until it collapses.
Wanda127 Champion Author Florida Posts:2,479 Points:911,980 Joined:May 2010	Message Posted: May 3, 2012 4:11:12 PM Ignore Wanda127 Report Abuse We need for the prices to keep falling whatever excuse they want to use. Our prices should not be so except that our government is letting this happen to us. Vote to Change & Get America Back Nov. 2012!
eomc17 Champion Author Tucson Posts:1,822 Points:134,145 Joined:Mar 2007	Message Posted: May 3, 2012 3:47:54 PM Ignore eomc17 Report Abuse Oil actually dropped two days in a row at Wall Street?? When's the last time that happened? 102.50$ is still way too high consider we are swamped with WTI crude in our stockpiles, despite the record exportation of WTI in recent years. What a massive rip-off big oil and speculators have been involved with since early 2003 to keep our gas prices high....and Washington turns a blind eye to this...as only a few of our senators and representatives have actually voiced their opposition to big oil and the number of GOP candidates who receive big handouts from big oil to keep their mouths shut about big oil keeping oil and gas prices hyper-inflated the last nine years. Then again, since oil and gas prices at Wall Street are falling earlier than last year but our gas prices are still sky high, this must mean that big oil actually wants Obama to get reelected in November despite the refining industry being taxed around 41% each year, explaining why Conoco-Phillips shut down three refineries this year and are trying to sell them. Besides the refining industry, big oil is doing quite well...thanks to our corrupt politicians in Washington. With Natural gas jumping nearly 40 cents in the past week at Wall Street, it appears that it is only a matter of time that CNG gas prices will catch up to conventional fuel prices, which was predictable considering that many big oil companies have invested in natural gas.
doggod Champion Author Anchorage Posts:2,833 Points:738,435 Joined:May 2009	Message Posted: May 3, 2012 2:39:36 PM Ignore doggod Report Abuse Uh-oh. When a politician says "more uncertain" that means "We're toast!"
tnfran Champion Author Arizona Posts:4,368 Points:840,240 Joined:Dec 2010	Message Posted: May 3, 2012 2:02:54 PM Ignore tnfran Report Abuse Just a few days ago the prices were cranking up because of good mfg. news. Lets get the speculators OUT of the game!!!!!!!!
36_ACRES_4_SALE All-Star Author Appleton Posts:999 Points:338,815 Joined:Oct 2011	Message Posted: May 3, 2012 12:59:51 PM Ignore 36_ACRES_4_SALE Report Abuse k
Ouch06 Champion Author Michigan Posts:1,607 Points:1,428,760 Joined:Apr 2006	Message Posted: May 3, 2012 12:33:03 PM Ignore Ouch06 Report Abuse gas is still $3.99
sjf238 Champion Author Philadelphia Posts:1,215 Points:647,205 Joined:Mar 2011	Message Posted: May 3, 2012 12:26:29 PM Ignore sjf238 Report Abuse Good.
humblepie Champion Author Toledo Posts:34,101 Points:2,368,445 Joined:Mar 2006	Message Posted: May 3, 2012 12:16:56 PM Ignore humblepie Report Abuse america's econmic outlook is no better regardless of whitehouse spin.....abo 2012
LilRedWagonIN Champion Author Indiana Posts:7,761 Points:1,552,210 Joined:Oct 2008	Message Posted: May 3, 2012 12:16:44 PM Ignore LilRedWagonIN Report Abuse And gasoline prices at the pump went up twenty cents yesterday and three cents today... so far. Bloomberg articles are irrelevant to me. Let him buy another election.
RochBear Champion Author Minnesota Posts:10,449 Points:1,738,915 Joined:May 2006	Message Posted: May 3, 2012 12:14:24 PM Ignore RochBear Report Abuse And the US economy isn't much better.