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Crude oil <$100 a barrel!

Started by Angel · 16/09/2008 · 03:34 AM · 18 replies · 0 reads
A AngelOP
OP 16/09/2008 · 03:34 AM
__________________________________
MARKET ALERT
from The Wall Street Journal.


Sept. 15, 2008

The front-month crude-oil futures contract on the New York Mercantile
Exchange settled below $100 a barrel for the first time since March,
sliding $5.47 to $95.71 on the day, on worry that the turmoil on Wall
Street may further damage the broader economy and erode demand for
fuel. The settlement was the lowest since Feb. 15.
K Knossos
17/09/2008 · 09:59 AM
Actually renegade, the US (real)gross domestic product has to be negative for two consecutive quarters for us to be in a recession. It`s actually been increasing pretty steadily; however, statistics don`t represent how people feel about the economy entirely.

Go here if you would like to see(and if you very very bored.) :)
http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=6&FirstYear=2007&LastYear=2008&Freq=Qtr
420Renegade Admin
Admin 17/09/2008 · 09:33 AM
in US I`ve got gas around $3.75 a gallon, was over $4.10 a few months ago..=)

But with all the banks and insurance companies going boom, we are all screwed..Great Depression of the 21st Century !
D DraconianParadise
16/09/2008 · 10:41 PM
Yeah gas has gone up by 25% in the Uk, its such a burden to just pay the rent and mortgage

And lol@star... with the power of cheese of course =P
A AngelOP
16/09/2008 · 09:48 PM
and gas in my area is STILL $3.99 to $4.99
S starseeker
16/09/2008 · 09:33 PM
Wonders how DP powers the jets without petroleum products?
I Infernal
16/09/2008 · 09:00 PM
That`s a losing strategy, with a depression looming
H HouseAtreides
16/09/2008 · 08:47 PM
If I was OPEC, in the face of an inevitable loss of market position for my product due to the ongoing move to cleaner alternative energies, I would charge as high a price as I could get away with in the short term.
D DraconianParadise
16/09/2008 · 08:12 PM
This isn;t the first time in the last 6 months, and OPEC have actually signalled that their supply will remain constant , hence no drop

Regardless its irrelevant, petrol is on the way out

*dusts off his jet roller blades
B Biohazard
16/09/2008 · 01:55 PM
too bad fuel prices are still 1.34euro a LITER.

and in some cases 1.59euro near the highway
K Kyril
16/09/2008 · 01:11 PM
Crude Oil
$91.95
lower:)
B backoff
16/09/2008 · 11:42 AM
target is 80-83 dollar....
T thunderonian
16/09/2008 · 09:50 AM
Changing resources is going to be hard for the States.
M mallow
16/09/2008 · 06:41 AM
today hasnt been all good though - although the oil prices are going down so are the investment banks which are pumping billions worth of taxes into our economies

so the FTSE, dow jones and all other markets are down - just means when you get your pension out it will be worth less so you will have less money to buy your fuel with

can only hope that lehman brothers arent the only bank to go down *crosses fingers and hopes that his wish for financial security will come true*
A Amaranth
16/09/2008 · 05:48 AM
clean energy please :(
U UberPansy
16/09/2008 · 05:31 AM
New drilling in the USA ftw
K Knossos
16/09/2008 · 04:09 AM
I`ve heard OPEC is going to reduce their amount of oil output. They are enormously rich already, but I guess they want to drive the price back up.
A AngelOP
16/09/2008 · 04:01 AM
Now lets see when will the consumer see the results...

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