GasBuddy Blog

GasBuddy News Article

votes

Oil begins new month on weaker note

MarketWatch -- Crude-oil futures began the new month lower in electronic trading Tuesday, after data showed Chinese manufacturing picked up slightly in April but remained a little short of expectations.

Crude for June delivery dropped 13 cents, or 0.1%, to $104.75 a barrel on the New York Mercantile Exchange during Asian trading hours.

Oil snapped a four-session winning streak earlier in the North American session, with sentiment damaged after Spain slid into recession while an index of manufacturing activity in Chicago also disappointed.

Data released Tuesday showed manufacturing activity in China picked up slightly in April, but the result was a touch shy of economist expectations.

China’s official Purchasing Managers’ Index rose to 53.3 in April, up from 53.1 in March.

Read the Full Article

Submitted May 01, 2012 By: brbaritone

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Oil begins new month on weaker note	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

jrs4125 Champion Author Indiana Posts:2,738 Points:587,745 Joined:Sep 2011	Message Posted: May 2, 2012 3:26:04 AM Ignore jrs4125 Report Abuse When will this be reflected in pump price?
doctorindyj Champion Author Santa Fe Posts:3,438 Points:836,035 Joined:Nov 2009	Message Posted: May 1, 2012 10:53:31 AM Ignore doctorindyj Report Abuse It's up, it's down, it's black, it's white. Depending on who's reporting it and why!
investmentdr Champion Author Cleveland Posts:4,003 Points:1,450,825 Joined:Sep 2008	Message Posted: May 1, 2012 9:51:54 AM Ignore investmentdr Report Abuse Nancy&Len, they were too low last week. gasoline spot price ($3.13) + OH tax ($0.45) + station profit ($0.15) fill up if it's under $3.73 (easy to find in C-town); wait if it's more.
Nancy&Len Champion Author Cleveland Posts:2,033 Points:1,941,815 Joined:Sep 2004	Message Posted: May 1, 2012 5:20:45 AM Ignore Nancy&Len Report Abuse Prices around here jumped ip in the last week.
yardslave Champion Author Oklahoma City Posts:2,539 Points:593,005 Joined:Dec 2005	Message Posted: May 1, 2012 3:54:49 AM Ignore yardslave Report Abuse Winning streak? Odd perspective.
WaWanderer Champion Author Washington Posts:4,310 Points:581,950 Joined:Oct 2011	Message Posted: May 1, 2012 3:50:53 AM Ignore WaWanderer Report Abuse Lets hope oil prices can be maintained even lower this summer. It would be nice to see more vacationers hit the roads and the economy could use the boost.
matman01 Champion Author Detroit Posts:14,815 Points:1,956,795 Joined:May 2007	Message Posted: May 1, 2012 3:45:20 AM Ignore matman01 Report Abuse Glad to see Oil prices going in the right direction!
farmboyTN Champion Author Tennessee Posts:2,249 Points:445,950 Joined:Feb 2012	Message Posted: May 1, 2012 3:28:59 AM Ignore farmboyTN Report Abuse OK
brbaritone Champion Author Virginia Posts:2,058 Points:1,694,260 Joined:Jan 2007	Message Posted: May 1, 2012 3:23:03 AM Ignore brbaritone Report Abuse Demand is dropping. Prices should be dropping, too.