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Oil price falls on concerns about global economy

Anchorage Daily News online -- CHRIS KAHN
The Associated Press

Published: May 2nd, 2012 11:55 AM
Last Modified: May 2nd, 2012 12:00 PM

NEW YORK (AP) - Oil prices fell Wednesday on concerns about a weakening European economy and disappointing job growth in the U.S.

Benchmark West Texas Intermediate crude gave up 94 cents to end the day at $105.22 per barrel in New York. Brent crude, which helps set the price of oil imported into the U.S., lost $1.46 to finish at $118.20 per barrel in London.

Prices dropped after a survey showed that Europe's manufacturing industry is slowing down. Also, the unemployment rate in the 17 countries that use the euro rose to 10.9 percent in March. A separate report says U.S. businesses added 119,000 jobs in April, far lower than the 201,000 added in March.

Oil and natural gas demand has

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Submitted May 02, 2012 By: Nitewolf

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TRYWI All-Star Author Appleton Posts:898 Points:282,150 Joined:Jan 2012	Message Posted: May 4, 2012 2:42:08 AM Ignore TRYWI Report Abuse lol
tjc09f Veteran Author Tallahassee Posts:468 Points:669,795 Joined:Mar 2011	Message Posted: May 3, 2012 3:56:59 PM Ignore tjc09f Report Abuse Not low enough
eomc17 Champion Author Tucson Posts:1,822 Points:134,145 Joined:Mar 2007	Message Posted: May 3, 2012 2:17:18 AM Ignore eomc17 Report Abuse "Concern for the economy??" my butt. Just yesterday oil jumped due to increased manufacturing, completely ignoring the stockpiles report showing that we had almost three million barrels of oil in our stockpiles than last week. The dollar was nearly unchanged against the Euro yesterday so that excuse wouldn't fly. The dollar rose against the Euro today so I am sure that helped somewhat. The speculators couldn't give a rat's @ss about our economy or gas and oil prices would not have gone up as much as they did since 2003. Tomorrow the speculators will blame an increase in oil prices on the excuse of the day. Hopes, speculation, recovery, consumer spending, Iran, the dollar, Romney, Bush, Carter, etc.
Nicoalbum Champion Author Ottawa Posts:6,016 Points:1,188,050 Joined:Jan 2010	Message Posted: May 3, 2012 12:48:31 AM Ignore Nicoalbum Report Abuse Falling oil is usually a bad sign.
anascom Champion Author Hamilton Posts:1,593 Points:553,115 Joined:Feb 2011	Message Posted: May 3, 2012 12:27:21 AM Ignore anascom Report Abuse not here in ontario!
WalRus49 Champion Author Boston Posts:4,072 Points:868,780 Joined:Nov 2010	Message Posted: May 3, 2012 12:09:36 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage............
amerk73 Champion Author Dallas Posts:7,046 Points:1,621,000 Joined:Oct 2008	Message Posted: May 3, 2012 12:02:30 AM Ignore amerk73 Report Abuse WTI Crude Oil now at $105.08
amerk73 Champion Author Dallas Posts:7,046 Points:1,621,000 Joined:Oct 2008	Message Posted: May 3, 2012 12:01:10 AM Ignore amerk73 Report Abuse gas price here $3.53
aquarinut Champion Author British Columbia Posts:1,628 Points:436,855 Joined:Jul 2011	Message Posted: May 2, 2012 10:38:43 PM Ignore aquarinut Report Abuse Combine all of these up and down articles and the conclusion will probably show that global economic recovery is still in a fragile state!! Not as bad as a few years ago, but some sort of influence, could be small or large, still has its hand on the handle of the worlds economic crapper!!!
TomT2Lee Champion Author Cincinnati Posts:5,357 Points:1,597,230 Joined:Sep 2005	Message Posted: May 2, 2012 8:45:56 PM Ignore TomT2Lee Report Abuse There are only two conclusions: 1) Authors who write articles like this are clueless. 2) Authors who write articles like this are part of the con.
Wanda127 Champion Author Florida Posts:2,494 Points:914,905 Joined:May 2010	Message Posted: May 2, 2012 7:37:20 PM Ignore Wanda127 Report Abuse I needs to drop a lot more for our economy to ever recover.
humblepie Champion Author Toledo Posts:34,199 Points:2,371,370 Joined:Mar 2006	Message Posted: May 2, 2012 7:11:11 PM Ignore humblepie Report Abuse once greece and spain go down, can the u s a be far behind ????????????
36_ACRES_4_SALE All-Star Author Appleton Posts:999 Points:338,815 Joined:Oct 2011	Message Posted: May 2, 2012 6:51:59 PM Ignore 36_ACRES_4_SALE Report Abuse OK
jimgraham Champion Author Akron Posts:10,372 Points:1,979,960 Joined:Oct 2007	Message Posted: May 2, 2012 6:46:49 PM Ignore jimgraham Report Abuse Then why in the blankety blank dig gas go up today - and a warning od a gas price spike was emailed to us in the Akron oHIo area about a price spike??????????????
BuckyTJones Champion Author Salt Lake City Posts:4,932 Points:967,950 Joined:Mar 2010	Message Posted: May 2, 2012 6:43:57 PM Ignore BuckyTJones Report Abuse Reading all these articles one would tend to think the odds are stacked against us in lower fuel prices..........:( What a news flash.
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: May 2, 2012 6:42:24 PM Ignore dh0770 Report Abuse What a farce.... I feel that I might because you know i was wondering who could possibly want to try....
humblepie Champion Author Toledo Posts:34,199 Points:2,371,370 Joined:Mar 2006	Message Posted: May 2, 2012 6:31:16 PM Ignore humblepie Report Abuse contol speculation, control the economy.
wz Champion Author Twin Cities Posts:2,484 Points:1,276,340 Joined:Feb 2009	Message Posted: May 2, 2012 6:05:33 PM Ignore wz Report Abuse It will take lower energy costs to get the economy moving again - for both Europe and the U.S.
Mano2311 Rookie Author Seattle Posts:1 Points:345 Joined:May 2012	Message Posted: May 2, 2012 6:01:39 PM Ignore Mano2311 Report Abuse good.
Buckeyee Champion Author Maine Posts:4,602 Points:898,780 Joined:May 2010	Message Posted: May 2, 2012 5:46:24 PM Ignore Buckeyee Report Abuse Fine the speculators till it hurts.
gizbo123 Champion Author Los Angeles Posts:1,511 Points:1,751,050 Joined:Dec 2005	Message Posted: May 2, 2012 5:44:51 PM Ignore gizbo123 Report Abuse Good, low gas prices will spur the economy.
playtimeCLE Champion Author Cleveland Posts:8,555 Points:1,543,400 Joined:Nov 2008	Message Posted: May 2, 2012 5:39:49 PM Ignore playtimeCLE Report Abuse Seems like there rising slightly to me.
bruin19MD Champion Author Maryland Posts:1,064 Points:164,450 Joined:Feb 2011	Message Posted: May 2, 2012 5:26:08 PM Ignore bruin19MD Report Abuse Hope gas prices fall, fall, fall