Posted on 10/21/2005 9:48:26 AM PDT by Semper Paratus
VIENNA, Austria (AP) - Crude-oil futures traded below $60 a barrel Friday, as supply concerns eased on signs of adequate fuel stocks in the United States, the world's largest consumer.
Prices for related products -- gasoline, heating oil and natural gas -- also fell, further indicating that worries about short-term shortfalls were easing.
Related newsDow Closes Down 133 on Economic Concerns High Prices Bolster Energy Cos. Profits Market Report -- In Play (DVN, VLO, XTO, BP, SLB, SU, SUN, PPP, KWK, XOM, APC, TLM, RIG, OXY, MRO, GRP) N.Y. Crude Oil Prices Fall to 3-Month Low Key Economic Indicator Declines Sharply Light, sweet crude for December delivery fell 45 cents to $59.57 a barrel by afternoon in Europe in electronic trading on the New York Mercantile Exchange.
The November contract settled $1.38 lower Thursday to expire at $61.03 a barrel -- the lowest closing price for a front-month contract since Aug. 3.
December Brent crude futures on London's International Petroleum Exchange fell 61 cents to $57.30 a barrel.
(Excerpt) Read more at news.moneycentral.msn.com ...
Good news!
Doomed...
It's Bush's fault!
It's Bush's fault!
Crude-oil futures traded below $60 a barrel Friday, as supply concerns eased on signs of adequate fuel stocks in the United States, the world's largest consumer.
You can say that again!
Funny how gas prices are so slow to go down but quick to jump when it goes up. I know I know Econ 101. How bout Gouge 101.
In my neck of the wood gas prices has come down a lot. Right now it is at 2.49 per gallon.. I have a feeling it may go down to either 2.00 or 1.90...
Let's see how long it will be before the gas stations start LOWERING their prices to reflect the new spot oil price. I can guarantee you that it will take at least 5 times as long.
Yes, the peak oil myth and the flood of reserves are popping the bubble.
Is that that sound of a speculation bubble popping?
I'd pay to see that.
Forbes was right after all.
Actually I paid 2.50 last night. When i started to get excited I stopped and reminded myself that the reason why I'm paying 2.50 and not lower is because idiot liberals won't let anyone build a refinery.
I hope so.
Saw gas for $2.21 today.
And to this point, he still has time on his side.
He often is. I still think the perfect President would be a cross of Steve Forbes' fiscal sense, Tom Coburns cojones, and Reagan's personality.
In other words...Mike Pence.
I paid $2.75 and for much the same reason. Although I believe there was and remains WAY too much speculation in the oil market. It's as if a specualtor's dog dies, the price jumps a dollar!
It's dropped about 20 pennies from about 300 to 280 in the last couple of weeks.
I am in So Fla.
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