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Oil falls as dollar strengthens against currencies. Oil near $97 per barrel as dollar rises against other currencies; gas slides to $3.69 a gallon

Chris Kahn, AP Energy Writer, On Wednesday June 15, 2011, 12:41 pm
NEW YORK (AP) -- Oil dropped more than 2 percent Wednesday as the dollar strengthened and investors shrugged off an unexpectedly large decline in crude supplies.
Benchmark West Texas Intermediate crude for July delivery fell $2.20, or 2.2 percent to $97.17 per barrel in midday trading on the New York Mercantile Exchange. In London, Brent crude fell $3.55, or 3 percent, to $115.90 per barrel on the ICE Futures exchange. http://finance.yahoo.com/news/Oil-f...91.html?x=0&sec=topStories&pos=4&asset=&ccode=
 
Crude Oil Falls to Near a Four-Month Low on European Debt Crisis, Economy
By Mark Shenk - Jun 17, 2011 9:44 AM ETFri Jun 17 13:44:59 GMT 2011

Oil fell to the lowest level in almost four months in New York on doubts that a German willingness to compromise on the Greek debt crisis will settle markets and spur economic growth.
Futures pared an earlier loss of 3 percent as German Chancellor Angela Merkel moderated previous conditions for supporting a Greek rescue plan. Oil is down 5.7 percent this week as data showed U.S. manufacturers turned pessimistic in June and demand for diesel.
http://www.bloomberg.com/news/2011-...onth-low-on-european-debt-crisis-economy.html
 
If you think this policy is going to help our country, you're WRONG!:nuts:
June 16, 2011

Obama Admin Blocks Alaska Drilling Effort

He said the bill's requirement to hold lease sales in the areas most likely to produce commercial oil and gas and set permitting deadlines could undermine the agency's public land management process, including the National Environmental Policy Act.
Click to expand...
Read more: http://nation.foxnews.com/anwr/2011...id=NL_FiredUpFoxNation_20110617#ixzz1PYI1roMM[/h]
 
Futures Movers Archives | Email alerts
June 17, 2011, 5:00 p.m. EDT
Oil slips further as demand fears persistContract settles at lowest since mid-February, loses 6% on week
By Claudia Assis and Virginia Harrison, MarketWatch
SAN FRANCISCO (MarketWatch) — Crude futures settled sharply lower Friday, adding to the week’s woes on persistent fears of slowing global growth and diminished demand.
Oil for July delivery /quotes/zigman/2075821 CL1N -2.15% shed $1.94, or 2%, to end at $93.01 a barrel on the New York Mercantile Exchange. http://www.marketwatch.com/story/oil-futures-slip-as-dollar-strengthens-2011-06-17
 
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