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GasBuddy News Article

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Oil drops to near $104 on global growth concerns

Anchorage Daily News online -- The Associated Press

Published: April 29th, 2012 09:31 PM
Last Modified: April 30th, 2012 03:30 AM

LONDON (AP) - Oil prices fell toward $104 a barrel Monday on expectations that slowing economic growth in the U.S. and China and ongoing debt problems in Europe will undermine demand for crude.

Benchmark oil for June delivery was down 72 cents to $104.21 a barrel by midday European time in electronic trading on the New York Mercantile Exchange. The contract rose 38 cents to settle at $104.93 in New York on Friday.

Brent crude for June delivery was down 71 cents at $119.10 per barrel in London.

The Commerce Department said Friday that the U.S. economy grew at an annual rate of 2.2 percent in the January-March quarter, compared with 3 percent in the final quarter of 2011. Earlier this


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Submitted Apr 30, 2012 By: Nitewolf
Category: Daily News Article Discussions > Topics Add to favorite topics  
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REPLIES (newest first) Post a Reply
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WalRus49
Champion Author Boston

Posts:6,451
Points:1,367,665
Joined:Nov 2010
Message Posted: May 1, 2012 1:16:32 AM

Just more organized mayhem and pillage..............
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PathfinderSC
Champion Author South Carolina

Posts:11,856
Points:2,320,080
Joined:Mar 2008
Message Posted: Apr 30, 2012 9:09:54 PM

Oil should be around $60.00 a barrel.
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Wanda127
Champion Author Florida

Posts:4,680
Points:1,407,535
Joined:May 2010
Message Posted: Apr 30, 2012 5:12:23 PM

It needs to drop a lot more. It's still way too HIGH!
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md11capt
Champion Author Denver

Posts:4,594
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Message Posted: Apr 30, 2012 4:00:05 PM

WHAT??!! The globe is grownin?
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dh0770
Champion Author Colorado

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Joined:Jun 2011
Message Posted: Apr 30, 2012 3:24:02 PM

Drops??? What a joke!
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gbs1
Champion Author Minnesota

Posts:4,311
Points:1,241,400
Joined:Mar 2011
Message Posted: Apr 30, 2012 2:39:00 PM

High oil prices=slow growth or no growth.
Makes sense to me.
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mladha
All-Star Author Ontario

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Joined:Mar 2010
Message Posted: Apr 30, 2012 2:02:49 PM

Good
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qwerty17
Champion Author New Jersey

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Joined:Oct 2009
Message Posted: Apr 30, 2012 1:39:14 PM

i like drop.
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Ticoman54
Champion Author Miami

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Joined:Oct 2008
Message Posted: Apr 30, 2012 1:23:23 PM

Keep dropping. Outrageously overpriced.
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kzrooster
Champion Author Kalamazoo

Posts:4,609
Points:1,010,710
Joined:Nov 2011
Message Posted: Apr 30, 2012 12:59:43 PM

Crude may drop but gas still is going up. It takes forever to see a drop in crude at the pump, but just moments when it goes up.
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asog75
All-Star Author Indiana

Posts:883
Points:318,740
Joined:Aug 2011
Message Posted: Apr 30, 2012 12:56:32 PM

still over priced by $35.00 a barrel
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OTISFL
Champion Author Pensacola

Posts:5,993
Points:1,160,510
Joined:Apr 2009
Message Posted: Apr 30, 2012 12:52:43 PM

Continue to drop---as in around $2.00 per gallon!!! Election won't mean jack diddly now with Romeney who is about the same as Bummer Bama.
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peakkeller
Champion Author Colorado Springs

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Joined:Dec 2009
Message Posted: Apr 30, 2012 12:49:58 PM

Good
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jakessoccermom
Sophomore Author Wisconsin

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Joined:May 2010
Message Posted: Apr 30, 2012 12:29:46 PM

Oil prices and global growth are joined at the hip. You can't have global growth without oil and if oil supply continues to be a problem (when is it not) then we can expect global growth to backslide.
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WildmanMick
Veteran Author North Carolina

Posts:426
Points:316,540
Joined:May 2011
Message Posted: Apr 30, 2012 11:57:00 AM

If " oil prices" were really worried about "global growth concerns", they would be around $50/barrel. "Oil prices" is the major enemy of "global growth"...
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vcsuksu21
Champion Author Oklahoma City

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Message Posted: Apr 30, 2012 11:54:10 AM

good, the free market is working
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tatker
Champion Author Asheville

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Message Posted: Apr 30, 2012 11:49:11 AM

Thanks Obama... sacrasm.
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MustangRacing
Champion Author Virginia

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Message Posted: Apr 30, 2012 11:37:23 AM

Need it down around $70
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bluebird1
Champion Author Toronto

Posts:18,024
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Joined:May 2004
Message Posted: Apr 30, 2012 11:35:46 AM

But not dropping much based on stockpiles - plus look at the spread!!!
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amoshins
Champion Author Trenton

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Message Posted: Apr 30, 2012 11:33:05 AM

2.2% economic growth Jan-MAr with rising fuel prices is not sustainable
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FPLREP
Champion Author Virginia

Posts:10,880
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Message Posted: Apr 30, 2012 11:22:00 AM

Is anyone out there seeing that high "fuel' prices are collapsing economies everywhere?
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DYSKYPILOT
Champion Author Fort Worth

Posts:4,918
Points:1,100,425
Joined:Mar 2006
Message Posted: Apr 30, 2012 11:21:51 AM

Needs to drop more.
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