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Author	Topic: Oil falls as Greece, China feed economic worry	Post a Reply Back to Topics

brbaritone Champion Author Virginia Posts:2,070 Points:1,699,725 Joined:Jan 2007	Message Posted: May 14, 2012 5:25:44 PM Ignore brbaritone Report Abuse Oil prices fell on Monday as Greece's inability to form a coalition government and concerns about a slowing Chinese economy fed worries about the outlook for petroleum demand. Greece's turmoil triggered selling in dollar-denominated copper and gold, sending a benchmark commodities index to a 19-month low, while pressuring the euro to a four-month low against the dollar and weighing on the stock market. Hedge funds and large speculators made the biggest-ever cuts in their net long U.S. crude futures and options positions in the week to May 8, according to government data released on Friday, adding to this week's bearish sentiment. Crude futures extended losses that, in the two weeks ending on Friday, left Brent crude down 6.2 percent and U.S. crude off 8.4 percent. Visit Reuters via Yahoo! Finance for full article

brbaritone

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Virginia

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Message Posted: May 14, 2012 5:25:44 PM

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Oil prices fell on Monday as Greece's inability to form a coalition government and concerns about a slowing Chinese economy fed worries about the outlook for petroleum demand.

Greece's turmoil triggered selling in dollar-denominated copper and gold, sending a benchmark commodities index to a 19-month low, while pressuring the euro to a four-month low against the dollar and weighing on the stock market.

Hedge funds and large speculators made the biggest-ever cuts in their net long U.S. crude futures and options positions in the week to May 8, according to government data released on Friday, adding to this week's bearish sentiment.

Crude futures extended losses that, in the two weeks ending on Friday, left Brent crude down 6.2 percent and U.S. crude off 8.4 percent.

Visit Reuters via Yahoo! Finance for full article

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DanMtz Champion Author Oakland Posts:3,360 Points:1,244,300 Joined:Oct 2009	Message Posted: May 15, 2012 6:58:08 PM Ignore DanMtz Report Abuse That should help.
99dakota Champion Author Providence Posts:8,122 Points:2,174,950 Joined:Oct 2006	Message Posted: May 15, 2012 5:02:43 AM Ignore 99dakota Report Abuse keep falling
99dakota Champion Author Providence Posts:8,122 Points:2,174,950 Joined:Oct 2006	Message Posted: May 15, 2012 5:02:41 AM Ignore 99dakota Report Abuse keep falling
WalRus49 Champion Author Boston Posts:4,085 Points:870,815 Joined:Nov 2010	Message Posted: May 15, 2012 4:10:23 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage...............
Jeff4U Champion Author Atlanta Posts:8,767 Points:1,854,320 Joined:Nov 2004	Message Posted: May 15, 2012 12:22:51 AM Ignore Jeff4U Report Abuse On May 4th, I predicted $90 by the end of the month. So far it's halfway there. Yes.. I can speculate too 'cause I've got a brand new crystal ball.
PrinceLH Champion Author Ontario Posts:2,702 Points:539,995 Joined:Jun 2011	Message Posted: May 14, 2012 11:31:01 PM Ignore PrinceLH Report Abuse Nothing like greedy public sector workers, in Greece. Let's sink the whole country, if not the whole EU!
Night Owl Champion Author Toronto Posts:7,560 Points:1,788,550 Joined:Jul 2004	Message Posted: May 14, 2012 9:33:24 PM Ignore Night Owl Report Abuse Keep falling.
asog75 All-Star Author Indiana Posts:836 Points:278,405 Joined:Aug 2011	Message Posted: May 14, 2012 9:14:06 PM Ignore asog75 Report Abuse got to have cash to buy it!!!
Lugi1967 Champion Author Ohio Posts:4,798 Points:1,004,195 Joined:Jun 2010	Message Posted: May 14, 2012 8:04:37 PM Ignore Lugi1967 Report Abuse Keep falin
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: May 14, 2012 7:47:53 PM Ignore dh0770 Report Abuse OMG! Any b.s. will do!
playtimeCLE Champion Author Cleveland Posts:8,565 Points:1,545,350 Joined:Nov 2008	Message Posted: May 14, 2012 7:22:48 PM Ignore playtimeCLE Report Abuse Kinda funny reading all the conspiracy theorists out there.
cmmattia Champion Author Long Island Posts:1,994 Points:393,535 Joined:Mar 2012	Message Posted: May 14, 2012 7:12:30 PM Ignore cmmattia Report Abuse oil needs to keep falling !!!
bandannaman Champion Author New Jersey Posts:1,849 Points:365,610 Joined:Dec 2010	Message Posted: May 14, 2012 6:33:42 PM Ignore bandannaman Report Abuse The full impact of obamanomics has yet to be felt
humblepie Champion Author Toledo Posts:34,297 Points:2,373,320 Joined:Mar 2006	Message Posted: May 14, 2012 6:20:54 PM Ignore humblepie Report Abuse obamanomics is spreading.
LEGION57 Champion Author South Carolina Posts:1,676 Points:283,110 Joined:Mar 2011	Message Posted: May 14, 2012 5:59:02 PM Ignore LEGION57 Report Abuse The commies are deliberately tanking the world.
comptonwoods Sophomore Author Virginia Posts:104 Points:277,480 Joined:Apr 2011	Message Posted: May 14, 2012 5:56:13 PM Ignore comptonwoods Report Abuse nice explanations of global pressures on the commodity market. but if the Saudis want $100 per bbl, they will put new pressure to rase the price.
ToolinIt Champion Author Colorado Posts:1,803 Points:888,945 Joined:May 2010	Message Posted: May 14, 2012 5:33:35 PM Ignore ToolinIt Report Abuse It's the start of tropical cyclone and hurricane season so I suspect that oil prices will rise due to that fact alone, regardless if a storm forms or not.
Meowmy Champion Author Florida Posts:1,293 Points:348,855 Joined:Jan 2011	Message Posted: May 14, 2012 5:31:31 PM Ignore Meowmy Report Abuse Thanks to the speculators.
brbaritone Champion Author Virginia Posts:2,070 Points:1,699,725 Joined:Jan 2007	Message Posted: May 14, 2012 5:27:12 PM Ignore brbaritone Report Abuse "Hedge funds and large speculators made the biggest-ever cuts in their net long U.S. crude futures and options positions in the week to May 8 ... " - did everyone get that? HEDGE FUNDS AND LARGE SPECULATORS!