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Author	Topic: Oil hits 8-month low as Spain optimism fades	Post a Reply Back to Topics

Nitewolf Champion Author Anchorage Posts:16,537 Points:2,104,670 Joined:Jun 2004	Message Posted: Jun 12, 2012 1:14:19 PM Ignore Nitewolf Report Abuse PABLO GORONDI Published: June 11th, 2012 12:55 PM Last Modified: June 12th, 2012 04:30 AM The price of oil hovered above $82 a barrel Tuesday after touching an eight-month low near $81 earlier in the session amid concern Spain's bank bailout won't be enough to stem Europe's debt crisis and suggestions OPEC could boost production targets. By early afternoon in Europe, benchmark oil for July delivery was down 24 cents to $82.46 per barrel in electronic trading on the New York Mercantile Exchange. Earlier on Tuesday, oil dropped to $81.07, the lowest since October, having dropped $1.40 on Monday. In London, Brent crude for July delivery was down 72 cents at $97.37 per barrel on the ICE Futures exchange. Crude jumped temporarily on Monday after the 17 countries that use the euro common Visit The Associated Press for full article

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PABLO GORONDI

Published: June 11th, 2012 12:55 PM
Last Modified: June 12th, 2012 04:30 AM

The price of oil hovered above $82 a barrel Tuesday after touching an eight-month low near $81 earlier in the session amid concern Spain's bank bailout won't be enough to stem Europe's debt crisis and suggestions OPEC could boost production targets.

By early afternoon in Europe, benchmark oil for July delivery was down 24 cents to $82.46 per barrel in electronic trading on the New York Mercantile Exchange. Earlier on Tuesday, oil dropped to $81.07, the lowest since October, having dropped $1.40 on Monday.

In London, Brent crude for July delivery was down 72 cents at $97.37 per barrel on the ICE Futures exchange.

Crude jumped temporarily on Monday after the 17 countries that use the euro common
Visit The Associated Press for full article

REPLIES (newest first)Ignore Short Messages

esq262 Champion Author Asheville Posts:2,897 Points:647,515 Joined:Jul 2011	Message Posted: Jun 12, 2012 8:08:56 PM Ignore esq262 Report Abuse Spain needs to fail.
Gas4Gore Champion Author Detroit Posts:2,411 Points:421,925 Joined:Jan 2010	Message Posted: Jun 12, 2012 6:51:48 PM Ignore Gas4Gore Report Abuse Greece, Spain, Italy, Portugal, who is next. The United States if we do not get rid of President Barack Hussein Obama.
Pramodsharma Champion Author Richmond Posts:1,974 Points:386,640 Joined:Feb 2012	Message Posted: Jun 12, 2012 6:34:10 PM Ignore Pramodsharma Report Abuse OK News
Lugi1967 Champion Author Ohio Posts:4,783 Points:1,001,270 Joined:Jun 2010	Message Posted: Jun 12, 2012 5:43:08 PM Ignore Lugi1967 Report Abuse lower is good for all
heydano67 Champion Author California Posts:1,661 Points:357,435 Joined:Feb 2012	Message Posted: Jun 12, 2012 2:24:12 PM Ignore heydano67 Report Abuse Feel bad for Europe, but will take the lower oil prices, still needs to drop further.
BUSMAN1105 Champion Author Atlanta Posts:2,156 Points:1,170,025 Joined:Aug 2008	Message Posted: Jun 12, 2012 2:22:38 PM Ignore BUSMAN1105 Report Abuse IT NEEDS TO DROP MORE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
OTISFL Champion Author Pensacola Posts:4,605 Points:864,840 Joined:Apr 2009	Message Posted: Jun 12, 2012 2:14:53 PM Ignore OTISFL Report Abuse Whatever!!
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Jun 12, 2012 1:56:35 PM Ignore dh0770 Report Abuse Blah, blah, blah...it'll go up today on the same b.s. Oh look, it's $83.10 as we speak! [Edited by: dh0770 at 6/12/2012 1:58:23 PM EST]
tnfran Champion Author Arizona Posts:4,378 Points:842,190 Joined:Dec 2010	Message Posted: Jun 12, 2012 1:43:44 PM Ignore tnfran Report Abuse Well if those that are so greedy wouldn't be so much so and let the economy pick up 'before' pushing it to the hilt things could be a lot different.
humblepie Champion Author Toledo Posts:34,182 Points:2,370,395 Joined:Mar 2006	Message Posted: Jun 12, 2012 1:34:44 PM Ignore humblepie Report Abuse GRECE, SPAIN, PORTUGAL AND ITALY ALL GOIN DOWN FOLLOWED BY ANOTHER DOWNGRADE OF THE US HALF DOLLAR.
knutzAL Champion Author Alabama Posts:2,248 Points:372,680 Joined:Feb 2012	Message Posted: Jun 12, 2012 1:25:41 PM Ignore knutzAL Report Abuse its the dollar.