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Oil Prices Fall for 7th Straight Session
Houston Chron.com ^ | 12 September 2006 | BRAD FOSS AP Business Writer

Posted on 09/12/2006 12:40:17 PM PDT by shrinkermd

WASHINGTON — Oil prices fell by almost 3 percent Tuesday, dipping below $64 a barrel as demand and perceived supply threats ease. After a seven-day selloff, crude futures are at their lowest level since late March.

Falling oil prices are not uncommon at this time of year, when gasoline consumption traditionally tapers off and winter fuels demand has yet to ramp up.

But the market has been especially weak lately, falling roughly 18 percent since mid-July, because fears of a powerful Atlantic hurricane season have so far proved unwarranted and because traders are increasingly skeptical that a diplomatic standoff between the United Nations and Iran will lead OPEC's No. 2 producer to pull supplies from the market....


TOPICS: Business/Economy; Front Page News
KEYWORDS: energy; oil; plummets
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Remainder hit Chron.com
1 posted on 09/12/2006 12:40:18 PM PDT by shrinkermd
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To: shrinkermd

Be sure to look up before leaving any tall builiding today. Watch out for falling Democrat Party Activists.


2 posted on 09/12/2006 12:42:26 PM PDT by MNJohnnie (Say Leftists. How many Nazis did killing Nazis in WW2 create? Samurai? Fascists?)
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To: shrinkermd
Reg. was $2.46/gallon this morning, most stations around my area were $2.59/gallon though.

CC&E

3 posted on 09/12/2006 12:43:47 PM PDT by Calm_Cool_and_Elected (Coming soon: A great new tag line!)
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To: shrinkermd

Come on baby, get below sixty.

We need it get to at or about $1.50. Maybe thats a dream, but that would help.

If we could get oil to drop to at or about $40.00 - $50.00 a gallon before November, that would really stick things to them.

Come on hedge fund speculators.. SELL!


4 posted on 09/12/2006 12:44:58 PM PDT by BoBToMatoE
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To: shrinkermd

Thank goodness Karl Rove ordered Haliburton to turn off the secret, only-targets-Blacks hurricane generator.


5 posted on 09/12/2006 12:47:28 PM PDT by Redcloak (Speak softly and wear a loud shirt.)
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To: BoBToMatoE
Come on baby, get below sixty. Iran's OPEC Oil Minister insists the price should not drop below $60.
6 posted on 09/12/2006 12:51:54 PM PDT by TeleStraightShooter (The Right To Take Life is NOT a Constitutional "Liberty" protected by the 14th Amendment)
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To: Redcloak

Thank goodness Karl Rove ordered Haliburton

Haliburton? Oh man, you are behind! Haliburton is a shill front for Express Services and the illegal immigration movement, who are silent partners with C-stores and 7-Eleven. Go to Thailand and you will see what I mean.
Thailand is the key.


7 posted on 09/12/2006 12:57:02 PM PDT by Tulsa Ramjet ("If not now, when?")
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To: TeleStraightShooter

"WASHINGTON — Oil prices fell by almost 3 percent Tuesday, dipping below $64 a barrel as demand and perceived supply threats ease. After a seven-day selloff, crude futures are at their lowest level since late March. "

On one hand they call it "perceived supply".

Then a sentence later they say crude normally falls in price this time of year.

I am suprised they didn't add Cheney and Halliburton to the story.


8 posted on 09/12/2006 12:57:24 PM PDT by EQAndyBuzz ("For seven million extra, we could have avoided a billion dollar WOT.")
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To: EQAndyBuzz
crude futures are at their lowest level since late March

Seems like much longer ago. If commodities go back to 2-3 years ago we wouldn't know what to do with all the extra cash.

9 posted on 09/12/2006 1:00:22 PM PDT by RightWhale (Repeal the law of the excluded middle)
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To: Tulsa Ramjet
Thanks for the update.





Now we wait 24 hours to see how much of this gets reposted on DU as reality.

10 posted on 09/12/2006 1:01:19 PM PDT by Redcloak (Speak softly and wear a loud shirt.)
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To: shrinkermd
Pump prices falling ever so slowly here in the oil patch. Two local convenience store chains have been battling each other for the better part of a couple of years. Was down about $2.55 at times while the national average was close to $3.00. Now they trying to make up loses and are taking their sweet time about bringing it down.
11 posted on 09/12/2006 1:04:21 PM PDT by CedarDave
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To: Redcloak
"Thank goodness Karl Rove ordered Haliburton to turn off the secret, only-targets-Blacks hurricane generator."

I don't think one can do parodies of Liberals anymore, because they are more wacko than any fictional depiction.

12 posted on 09/12/2006 1:06:21 PM PDT by lormand (May the guns of one million AC-130s infest Islam-0-land)
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To: shrinkermd

Okay, here's the cynically side of me: Oil will keep dropping until the low to mid $50 range. This will be the norm until...about...March or April. Then someone will sneeze, a mild breeze will blow in the gulf, and oil prices and gas prices will shoot up to record highs...just in time for summer 2007!


13 posted on 09/12/2006 1:06:22 PM PDT by Obadiah
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To: Calm_Cool_and_Elected

$2.10 in Southwestern Missouri this morning


14 posted on 09/12/2006 1:07:16 PM PDT by TYVets (God so loved the world he didn't send a committee)
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To: shrinkermd

$2.35 in Atlanta suburbs today


15 posted on 09/12/2006 1:08:11 PM PDT by Republican Red ("There’s God, then there’s the president and then there’s my father.”- 6 yr old Jack Roberts)
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To: All

Nymex unleaded @ $1.5521


16 posted on 09/12/2006 1:08:14 PM PDT by abb (The Dinosaur Media: A One-Way Medium in a Two-Way World)
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To: shrinkermd
This is an off-shoot of the VLW conspiracy! You drive down the price of oil to increase global warming! As the sea level rises waterfront property in Denver, Wyoming and West Virginia will increase Democrackpot war chests and Gore/Clinton will hold sway in the 2008 Election!

Summer Condos in Almagalsik Greenland will attract Danish tourists in increasing numbers and with an an increase in the Moose herd! Cheese Danish with a mousse topping will be all the rage!

17 posted on 09/12/2006 1:09:53 PM PDT by Young Werther
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To: lormand

That is getting to be a problem. Rush has been complaining about it for years. He jokes about something one day and then hears it suggested as policy by a Democrat the next. Personally, I'm finding it to be more and more difficult to get drunk enough to stay a step ahead of the moonbats.


18 posted on 09/12/2006 1:11:54 PM PDT by Redcloak (Speak softly and wear a loud shirt.)
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To: Redcloak

I love the "public service announcments" Rush plays which pleads liberals not to act out so wacky because it is increasingly hard to do paradies of them.


19 posted on 09/12/2006 1:14:48 PM PDT by lormand (May the guns of one million AC-130s infest Islam-0-land)
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To: shrinkermd
Let's start a pool. Who will be the first democRat to accuse the President of striking a secret deal with "Big Oil" to lower the price just in time for the elections?
20 posted on 09/12/2006 1:16:10 PM PDT by Falcon4.0
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