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Oil falls on economic worries

The Sentinel -- Oil prices fell below $86 a barrel Thursday as investors focused on global economic issues, including the so-called "fiscal cliff" in the U.S. Benchmark U.S. crude dropped by 87 cents to finish at $85.45 per barrel in New York. Brent crude, used to price many kinds of international oil, fell 47 cents to end at $108.01 per barrel on the ICE Futures exchange in London. Expiring tax cuts and broad spending cuts will take effect in January unless the White House and Congress make a deal. Economists worry that that would have a serious impact on the economy. Slower economic growth means less demand for fuels such as gasoline, heating oil and natural gas.

On Thursday the U.S. Energy Information Administration said crude oil supplies grew by 1.1 million barrels last week to 375.9

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Submitted Nov 17, 2012 By: aservant

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jrs4125 Champion Author Indiana Posts:2,763 Points:592,720 Joined:Sep 2011	Message Posted: Nov 19, 2012 7:45:16 AM Ignore jrs4125 Report Abuse Low crude prices alrighty then. Too bad its not reflected at the pump.
52MPG Champion Author Dayton Posts:7,267 Points:1,742,680 Joined:Apr 2006	Message Posted: Nov 19, 2012 2:48:41 AM Ignore 52MPG Report Abuse BO will do what he said "fundamentally change the US." That is what is bad for the economy.
millerin Champion Author Orlando Posts:2,317 Points:482,340 Joined:Jan 2012	Message Posted: Nov 19, 2012 12:57:12 AM Ignore millerin Report Abuse hmm...
drpepperTX Champion Author Texas Posts:8,950 Points:753,185 Joined:Apr 2011	Message Posted: Nov 18, 2012 12:36:23 PM Ignore drpepperTX Report Abuse GASOLINE RBOB FUT (USD/GAL.) 271.01 +1.39 (0.51%) 11/16 WTI CRUDE FUTURE (USD/BBL.) 86.92 +1.05 (1.22%) 11/16 BRENT CRUDE FUTR (USD/BBL.) 108.95 +0.94 (0.87%) 11/16
WalRus49 Champion Author Boston Posts:4,080 Points:869,840 Joined:Nov 2010	Message Posted: Nov 18, 2012 9:45:40 AM Ignore WalRus49 Report Abuse Bunk!
jrs4125 Champion Author Indiana Posts:2,763 Points:592,720 Joined:Sep 2011	Message Posted: Nov 18, 2012 3:46:23 AM Ignore jrs4125 Report Abuse Its too bad that pump prices don't fall when crude prices do.
kgbellman Champion Author Ann Arbor Posts:2,718 Points:732,815 Joined:Mar 2011	Message Posted: Nov 18, 2012 2:04:19 AM Ignore kgbellman Report Abuse Keep it falling
Discovery02 Champion Author Colorado Springs Posts:2,560 Points:310,665 Joined:May 2012	Message Posted: Nov 18, 2012 12:24:46 AM Ignore Discovery02 Report Abuse Good...let's keep those speculators worried.
EMoe57 Champion Author Jacksonville Posts:4,622 Points:1,017,015 Joined:Apr 2009	Message Posted: Nov 17, 2012 11:58:16 PM Ignore EMoe57 Report Abuse good
robb88 Veteran Author Atlanta Posts:363 Points:66,815 Joined:Feb 2012	Message Posted: Nov 17, 2012 11:27:16 PM Ignore robb88 Report Abuse well, i guess that could be the one good thing that could come out of going over the 'fiscal cliff'. We would have really low gas prices again! for about a day..
jackterrier Rookie Author Washington Posts:24 Points:27,405 Joined:Jul 2008	Message Posted: Nov 17, 2012 11:26:17 PM Ignore jackterrier Report Abuse Does that mean local stations will start passing some of the savings to the consumer or their profits will just skyrocket? They dont seem to realize prices are actually dropping outside of this area.
nightworker998 Champion Author Maryland Posts:1,812 Points:667,590 Joined:Mar 2009	Message Posted: Nov 17, 2012 11:24:20 PM Ignore nightworker998 Report Abuse I love reporters who overstate the obvious
GDAE Champion Author Wichita Posts:1,155 Points:221,875 Joined:Oct 2012	Message Posted: Nov 17, 2012 11:15:35 PM Ignore GDAE Report Abuse Hope it keeps on falling.
texasvet Champion Author Texas Posts:3,828 Points:360,445 Joined:Jul 2009	Message Posted: Nov 17, 2012 11:15:10 PM Ignore texasvet Report Abuse Don't expect the price of gas to drop much at the pump. Ethanol is expensive to produce.
rd2000 Champion Author Florida Posts:3,576 Points:687,970 Joined:Jul 2007	Message Posted: Nov 17, 2012 11:13:16 PM Ignore rd2000 Report Abuse Lets hope gas fall too, just as fast
yeehaw1073 Champion Author Indiana Posts:2,361 Points:1,849,675 Joined:May 2004	Message Posted: Nov 17, 2012 11:12:01 PM Ignore yeehaw1073 Report Abuse and yet, somehow, I'm sure gas prices will continue to go up...
fightbigoil71 Champion Author Milwaukee Posts:7,567 Points:1,546,630 Joined:Nov 2008	Message Posted: Nov 17, 2012 11:11:54 PM Ignore fightbigoil71 Report Abuse let me know when the price really falls - like $20 or more per barrel
SandeeC Champion Author Ontario Posts:2,993 Points:460,705 Joined:Apr 2011	Message Posted: Nov 17, 2012 11:10:29 PM Ignore SandeeC Report Abuse Yeah, AKmailman, so who's pocketing the difference????????
Dsin44 Champion Author Abbotsford Posts:1,272 Points:272,660 Joined:Apr 2011	Message Posted: Nov 17, 2012 11:10:16 PM Ignore Dsin44 Report Abuse gas prices do not reflect the price of crude,, why?
Soglaos Champion Author Virginia Beach Posts:2,771 Points:740,405 Joined:Feb 2011	Message Posted: Nov 17, 2012 11:09:17 PM Ignore Soglaos Report Abuse hmmm thats not right. According to Obama when the economy is doing bad oil should cost less. Sure don't see it
Mustache_33 All-Star Author Toronto Posts:900 Points:181,455 Joined:May 2012	Message Posted: Nov 17, 2012 11:08:23 PM Ignore Mustache_33 Report Abuse Is Greenspan still alive ...!!??? Gosh ... he's already gazillion years old. Wonder if his brain is still updating properly ... hmm
minnesotagirl Champion Author Milwaukee Posts:5,867 Points:1,232,645 Joined:Oct 2009	Message Posted: Nov 17, 2012 11:08:08 PM Ignore minnesotagirl Report Abuse a 47 cent dip hardly qualifies as a fall.
AKmailman Champion Author Alaska Posts:5,638 Points:1,558,540 Joined:Jul 2004	Message Posted: Nov 17, 2012 11:06:39 PM Ignore AKmailman Report Abuse If oil is at $86 a barrel, then gas should be below $2 a gallon
camaro_man Champion Author Kitchener-Waterloo Posts:2,234 Points:611,935 Joined:Jun 2010	Message Posted: Nov 17, 2012 11:03:30 PM Ignore camaro_man Report Abuse wow,,,so does that mean lower prices in the next year?????
Marson Champion Author Scranton Posts:8,952 Points:2,079,135 Joined:Oct 2006	Message Posted: Nov 17, 2012 11:01:59 PM Ignore Marson Report Abuse We need to eliminate the specupators.
OGW Champion Author London Posts:5,329 Points:1,532,975 Joined:Sep 2005	Message Posted: Nov 17, 2012 10:58:30 PM Ignore OGW Report Abuse Greenspan said if he was still in his former position, he would let the US go over the "fiscal cliff".
jcurley Champion Author California Posts:7,908 Points:1,776,220 Joined:Dec 2007	Message Posted: Nov 17, 2012 10:58:22 PM Ignore jcurley Report Abuse Oil is falling based upon global demand - and the conservative austerity ideology in Europe is bringing them down.
toadNY Champion Author Albany Posts:7,047 Points:1,514,125 Joined:Apr 2008	Message Posted: Nov 17, 2012 10:57:09 PM Ignore toadNY Report Abuse If oil falls that mean's the economy is going down Not Up like obama said!
Taurus1 Champion Author Ohio Posts:3,130 Points:1,674,475 Joined:Apr 2006	Message Posted: Nov 17, 2012 10:54:55 PM Ignore Taurus1 Report Abuse Not to worry, it'll go up again..
Blue48 Champion Author Illinois Posts:7,310 Points:1,638,920 Joined:Feb 2007	Message Posted: Nov 17, 2012 10:52:45 PM Ignore Blue48 Report Abuse UP..DOWN..UP..DOWN!
drz614 Champion Author Harrisburg Posts:2,304 Points:598,595 Joined:Aug 2011	Message Posted: Nov 17, 2012 10:52:39 PM Ignore drz614 Report Abuse it's not the price or availability of crude thats the problem
jetlagAK Champion Author Anchorage Posts:2,251 Points:635,675 Joined:Jan 2010	Message Posted: Nov 17, 2012 10:47:52 PM Ignore jetlagAK Report Abuse Enjoy your Hype & Chains, suckers!
9C1 Champion Author Chicago Posts:22,864 Points:4,247,560 Joined:Jul 2001	Message Posted: Nov 17, 2012 10:47:31 PM Ignore 9C1 Report Abuse It is all Obama's fault.
Fitwit Champion Author Stockton Posts:6,404 Points:1,356,845 Joined:May 2009	Message Posted: Nov 17, 2012 10:46:04 PM Ignore Fitwit Report Abuse Boring Barrels.
bojiway1 Champion Author Minnesota Posts:2,049 Points:479,785 Joined:Dec 2011	Message Posted: Nov 17, 2012 10:43:59 PM Ignore bojiway1 Report Abuse less power being in Manufactoring plants?
car253 Champion Author Ohio Posts:6,298 Points:1,469,595 Joined:Oct 2008	Message Posted: Nov 17, 2012 10:42:43 PM Ignore car253 Report Abuse The economic worries will get a lot worse with Obama in charge.
REKEY Champion Author South Carolina Posts:8,579 Points:1,699,415 Joined:May 2008	Message Posted: Nov 17, 2012 10:42:04 PM Ignore REKEY Report Abuse I hate that!
TFowler513 Champion Author Memphis Posts:3,824 Points:1,414,860 Joined:Mar 2008	Message Posted: Nov 17, 2012 10:41:54 PM Ignore TFowler513 Report Abuse It's all propaganda with hidden agendas!!!
kiss4afrog Veteran Author Twin Cities Posts:421 Points:173,960 Joined:Jan 2008	Message Posted: Nov 17, 2012 10:40:54 PM Ignore kiss4afrog Report Abuse Just want to see the price at the pump go down and the Senate and Congress agree on something that's good for most of us.
Group23 Champion Author Greensboro Posts:1,243 Points:438,440 Joined:May 2006	Message Posted: Nov 17, 2012 10:38:57 PM Ignore Group23 Report Abuse Back up this weekend. Apparently the worries were baseless.
bikerWI Champion Author Milwaukee Posts:1,423 Points:878,460 Joined:Apr 2010	Message Posted: Nov 17, 2012 10:35:50 PM Ignore bikerWI Report Abuse good news.
RedRam2005 Champion Author San Antonio Posts:7,744 Points:1,499,690 Joined:Dec 2007	Message Posted: Nov 17, 2012 10:32:39 PM Ignore RedRam2005 Report Abuse It is amazing that economic worries were hidden until after the election...anything to keep the messiah in power.
VanIsleRover Champion Author British Columbia Posts:2,509 Points:590,285 Joined:Apr 2010	Message Posted: Nov 17, 2012 10:32:02 PM Ignore VanIsleRover Report Abuse Somebody is making money..
drewsworld Sophomore Author Los Angeles Posts:240 Points:19,205 Joined:Aug 2012	Message Posted: Nov 17, 2012 10:30:39 PM Ignore drewsworld Report Abuse ok
ghmortensen Champion Author Minnesota Posts:1,997 Points:1,670,590 Joined:Jan 2007	Message Posted: Nov 17, 2012 10:29:55 PM Ignore ghmortensen Report Abuse I thought President Obama was elected because he turned the economy around from what President Bush left behind. What are they talking about? What economic worries?
flyfast Champion Author Kansas City Posts:9,258 Points:1,827,010 Joined:Jan 2008	Message Posted: Nov 17, 2012 10:22:51 PM Ignore flyfast Report Abuse obumer more of the same
jb107 Champion Author New Jersey Posts:9,554 Points:2,622,875 Joined:Sep 2005	Message Posted: Nov 17, 2012 10:22:20 PM Ignore jb107 Report Abuse Oil is falling when is gas at the pump going to follow?
jackster111 Champion Author North Carolina Posts:3,327 Points:425,560 Joined:Feb 2012	Message Posted: Nov 17, 2012 10:19:58 PM Ignore jackster111 Report Abuse okay will this be the result of prices at the pump or negative?
PoohMcGoo Champion Author Alabama Posts:3,067 Points:800,885 Joined:Dec 2010	Message Posted: Nov 17, 2012 10:17:24 PM Ignore PoohMcGoo Report Abuse Gonna be a lot of economic worries the next 4 years.
PathTrack Champion Author Twin Cities Posts:1,203 Points:134,685 Joined:Jan 2005	Message Posted: Nov 17, 2012 10:16:19 PM Ignore PathTrack Report Abuse 87 cents? Friday negated that loss.