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Oil futures slip ahead of EU summit

MarketWatch -- LONDON (MarketWatch) — Crude oil futures erased gains in electronic trade on Thursday, as jitters ahead of an European Union summit targeting the region’s swelling financial crisis spooked investors out of risky assets.

Crude oil for August delivery /quotes/zigman/2203150 CLQ2 +0.60% shed 18 cents, or 0.2%, to $80.03 a barrel on the New York Mercantile Exchange.

A drop in weekly U.S. supplies combined with upbeat economic data to send oil prices through $80 a barrel in Wednesday’s North American session. Read more on Wednesday's oil session.

Upside momentum, however, waned during European trading hours on Thursday, as investors remained concerned the European leaders would fail to produce credible measures to contain the region’s debt and banking crisis when they meet in Brusse

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Submitted Jun 28, 2012 By: Mariuxus

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REPLIES (newest first)Ignore Short Messages

52MPG Champion Author Dayton Posts:7,254 Points:1,740,670 Joined:Apr 2006	Message Posted: Jun 28, 2012 11:34:01 PM Ignore 52MPG Report Abuse The lower the better.
investmentdr Champion Author Cleveland Posts:4,024 Points:1,454,075 Joined:Sep 2008	Message Posted: Jun 28, 2012 10:45:22 AM Ignore investmentdr Report Abuse oil -3% for the day
listerone Champion Author Boston Posts:3,375 Points:877,790 Joined:Aug 2008	Message Posted: Jun 28, 2012 9:33:20 AM Ignore listerone Report Abuse The Euro is a failed experiment.The sooner they pull the plug on it the better.
VomVom Champion Author Calgary Posts:3,857 Points:1,627,080 Joined:May 2007	Message Posted: Jun 28, 2012 8:24:36 AM Ignore VomVom Report Abuse With the Euro zone's economic problems, this is going to be a real issue. Oil price may drop further, but N America's economies will be adversely affected.
Night Owl Champion Author Toronto Posts:7,545 Points:1,785,625 Joined:Jul 2004	Message Posted: Jun 28, 2012 8:00:57 AM Ignore Night Owl Report Abuse Keep falling. Greedy oil speculators raised oil prices so high there's nowhere to go but down.
tatker Champion Author Asheville Posts:1,960 Points:558,855 Joined:Dec 2010	Message Posted: Jun 28, 2012 7:55:37 AM Ignore tatker Report Abuse Yipee skippy
TripleHs Champion Author Austin Posts:3,355 Points:915,740 Joined:Oct 2009	Message Posted: Jun 28, 2012 7:10:29 AM Ignore TripleHs Report Abuse keep dropping as they are still way too high