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Nitewolf Champion Author Anchorage Posts:16,551 Points:2,105,645 Joined:Jun 2004	Message Posted: Jul 23, 2012 10:09:52 AM Ignore Nitewolf Report Abuse CHRIS KAHN Published: July 23rd, 2012 07:41 AM Last Modified: July 23rd, 2012 07:45 AM NEW YORK (AP) - The price of oil is falling on heightened concerns about Europe's debt-ridden economy. Borrowing costs soared for Spain and Italy Monday, reaching levels that are considered unsustainable for more than a few months. Spain and about a third of other eurozone nations already are in recession, and many analysts fear that other European nations will follow. As Europe struggles, its demand for manufactured goods from the U.S. and China will likely decline. China already is predicting slower economic growth in the third quarter. Those trends could lower world oil demand. Benchmark U.S. crude prices fell $2.88 to $88.96 per barrel in New York while Brent crude lost $3.32 to $103.51 per Visit The Associated Press for full article

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

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CHRIS KAHN
Published: July 23rd, 2012 07:41 AM
Last Modified: July 23rd, 2012 07:45 AM

NEW YORK (AP) - The price of oil is falling on heightened concerns about Europe's debt-ridden economy.

Borrowing costs soared for Spain and Italy Monday, reaching levels that are considered unsustainable for more than a few months. Spain and about a third of other eurozone nations already are in recession, and many analysts fear that other European nations will follow.

As Europe struggles, its demand for manufactured goods from the U.S. and China will likely decline. China already is predicting slower economic growth in the third quarter. Those trends could lower world oil demand.

Benchmark U.S. crude prices fell $2.88 to $88.96 per barrel in New York while Brent crude lost $3.32 to $103.51 per
Visit The Associated Press for full article

REPLIES (newest first)Ignore Short Messages

WalRus49 Champion Author Boston Posts:4,080 Points:869,840 Joined:Nov 2010	Message Posted: Jul 24, 2012 1:14:07 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage.............
Jeff4U Champion Author Atlanta Posts:8,761 Points:1,853,345 Joined:Nov 2004	Message Posted: Jul 24, 2012 12:56:00 AM Ignore Jeff4U Report Abuse Crude dropped by $3.63 as of a moment ago. (cumulative since Monday AM)
jetskijerry Champion Author North Carolina Posts:3,901 Points:773,245 Joined:Mar 2011	Message Posted: Jul 23, 2012 9:21:26 PM Ignore jetskijerry Report Abuse crooks
jetskijerry Champion Author North Carolina Posts:3,901 Points:773,245 Joined:Mar 2011	Message Posted: Jul 23, 2012 9:20:57 PM Ignore jetskijerry Report Abuse So why are prices still going up?
anascom Champion Author Hamilton Posts:1,593 Points:553,115 Joined:Feb 2011	Message Posted: Jul 23, 2012 9:19:49 PM Ignore anascom Report Abuse good, but still not so good.
JamesCalvin Champion Author Lancaster Posts:3,186 Points:519,555 Joined:Nov 2011	Message Posted: Jul 23, 2012 9:18:21 PM Ignore JamesCalvin Report Abuse Yes, it happens to the best of us!
Nicoalbum Champion Author Ottawa Posts:6,021 Points:1,189,025 Joined:Jan 2010	Message Posted: Jul 23, 2012 8:54:55 PM Ignore Nicoalbum Report Abuse Nothing to worry about
Wanda127 Champion Author Florida Posts:2,499 Points:915,130 Joined:May 2010	Message Posted: Jul 23, 2012 7:54:08 PM Ignore Wanda127 Report Abuse thanks for the additional info DerHahn.
Pramodsharma Champion Author Richmond Posts:1,974 Points:387,390 Joined:Feb 2012	Message Posted: Jul 23, 2012 5:58:09 PM Ignore Pramodsharma Report Abuse Who cares?
Tehbob Champion Author California Posts:2,296 Points:457,605 Joined:Jan 2012	Message Posted: Jul 23, 2012 5:46:02 PM Ignore Tehbob Report Abuse k
DerHahn Champion Author Illinois Posts:13,715 Points:2,115,110 Joined:May 2004	Message Posted: Jul 23, 2012 5:29:23 PM Ignore DerHahn Report Abuse actually all markets have been falling on the pending arrest of many larger bankers in the US and europe. looking to see how this one plays out. [Edited by: DerHahn at 7/23/2012 8:31:21 PM EST]
PathfinderSC Champion Author South Carolina Posts:9,521 Points:1,831,615 Joined:Mar 2008	Message Posted: Jul 23, 2012 3:56:20 PM Ignore PathfinderSC Report Abuse Oil is still to high, Needs to keep falling.
TripleHs Champion Author Austin Posts:3,355 Points:917,340 Joined:Oct 2009	Message Posted: Jul 23, 2012 1:30:00 PM Ignore TripleHs Report Abuse go much lower
Night Owl Champion Author Toronto Posts:7,555 Points:1,787,575 Joined:Jul 2004	Message Posted: Jul 23, 2012 12:15:06 PM Ignore Night Owl Report Abuse Greedy oil speculators keep raising oil prices so high on the hopes world economies will recover -- that world economies cannot recover. Speculators need to be banned from trading oil futures. We need to get back to supply and demand controlling oil prices. Then maybe Greece, Spain, Italy, Ireland, etc can finally start their economic recoveries.
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Jul 23, 2012 12:09:46 PM Ignore dh0770 Report Abuse Manipulation by speculation!
SilverDodge2000 Champion Author Spokane Posts:1,036 Points:185,390 Joined:Feb 2011	Message Posted: Jul 23, 2012 11:43:30 AM Ignore SilverDodge2000 Report Abuse So one lame stream AP article says oil is going up along with fuel prices. This lame stream AP article says oil is falling. All I know for sure is gasoline and diesel have been going up for the last week here in northeast washington state. With the raise of nearly 25 cents of diesel prices in the last 10 days, that will mean higher prices in the super market and other goods transported by trucking. Lets see, corn prices are also at a all time high. Don't it just give you a warm fuzzy feeling when your government is messing with your pocket book?
bills299 Champion Author Atlanta Posts:3,371 Points:905,465 Joined:May 2005	Message Posted: Jul 23, 2012 11:11:27 AM Ignore bills299 Report Abuse drop baby drop!!
rev342 Veteran Author Florida Posts:484 Points:255,405 Joined:Apr 2012	Message Posted: Jul 23, 2012 10:41:14 AM Ignore rev342 Report Abuse ok
humblepie Champion Author Toledo Posts:34,250 Points:2,372,345 Joined:Mar 2006	Message Posted: Jul 23, 2012 10:24:07 AM Ignore humblepie Report Abuse but our economy is jut fine...........
Jeff4U Champion Author Atlanta Posts:8,761 Points:1,853,345 Joined:Nov 2004	Message Posted: Jul 23, 2012 10:11:37 AM Ignore Jeff4U Report Abuse Yep, we noticed, but it'll take an about-face in a day or two.