Oil Slick Stuff

Sort by newest Sort by date
Oil price plunge continues ahead of US jobs data

Oil slides to near $97 in Europe, extending week-long plunge ahead of key US jobs report




Pablo Gorondi, Associated Press, On Friday May 6, 2011, 8:14 am

Oil prices continued to plunge on Friday, slipping to near $97 a barrel as investors worried that a weakening U.S. jobs market may undermine demand for crude in the world's largest economy.
By early afternoon in Europe, benchmark crude for June delivery was down $2.60 at $97.20 a barrel in electronic trading on the New York Mercantile Exchange. Earlier, it fell as low as $94.63. http://finance.yahoo.com/news/Oil-p...39.html?x=0&sec=topStories&pos=4&asset=&ccode=
 
WOW!!! Gas dropped from 3.899 to 3.519 overnight here at a couple of stations.

38 cents overnight... unexpected to say the least.
 
At least you guys are going in the right direction. $3.92 to $4.05 today. And yes, that's for regular.
 
Goldman sees new oil rally after predicting drop



On Friday May 6, 2011, 11:12 am EDT
By Dmitry Zhdannikov
LONDON (Reuters) - Goldman Sachs, which in April predicted this week's major correction in oil prices, said on Friday that oil could surpass its recent highs by 2012 as global oil supplies continue to tighten.
The Wall Street bank, seen as one of the most influential in commodities business, said it did not rule out a further limited short-term fall in oil prices if macro-economic data, which it said had sparked this week's crash, continued to disappoint.
News of Goldman's mid-term outlook on Friday prompted a $1 a barrel jump in oil prices, helping oil to pare some of its earlier heavy losses.
Oil prices seesawed on Friday, turning positive on better than expected U.S. jobs data, which eased fears about global economic recovery that led to a 10-percent price crash on Thursday.
"It is important to emphasize that even as oil prices are pulling back from their recent highs, we expect them to return to or surpass the recent highs by next year," Goldman Sachs' analysts said in a research note. http://finance.yahoo.com/news/Goldm...html?x=0&sec=topStories&pos=main&asset=&ccode=
 
One hundred years in Fuel Economy and auto development:

vdtfb.png
 
You must log in or register to reply here.
Back
Top