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Author	Topic: Oil Prices Slide as Dollar Strengthens	Post a Reply Back to Topics

Eugene_C Champion Author Columbus Posts:2,299 Points:155,995 Joined:Mar 2004	Message Posted: May 14, 2012 9:00:51 AM Ignore Eugene_C Report Abuse LONDON — Oil prices slumped on Monday, with New York crude striking five-month lows, as the dollar strengthened against the euro on mounting worries over Europe's debt crisis, traders said. New York's main contract West Texas Intermediate crude for delivery in June was down $1.99 at $94.14 a barrel. Earlier Monday it hit $93.65 -- the lowest point since mid-December. A stronger US currency makes dollar-denominated oil more expensive for buyers using the euro, denting demand for crude. Visit AFP for full article

Eugene_C

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Columbus

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Message Posted: May 14, 2012 9:00:51 AM

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LONDON — Oil prices slumped on Monday, with New York crude striking five-month lows, as the dollar strengthened against the euro on mounting worries over Europe's debt crisis, traders said.

New York's main contract West Texas Intermediate crude for delivery in June was down $1.99 at $94.14 a barrel. Earlier Monday it hit $93.65 -- the lowest point since mid-December.

A stronger US currency makes dollar-denominated oil more expensive for buyers using the euro, denting demand for crude.
Visit AFP for full article

REPLIES (newest first)Ignore Short Messages

PathfinderSC Champion Author South Carolina Posts:9,516 Points:1,830,640 Joined:Mar 2008	Message Posted: May 14, 2012 5:58:59 PM Ignore PathfinderSC Report Abuse That is good.
qwerty17 Champion Author New Jersey Posts:3,650 Points:1,117,525 Joined:Oct 2009	Message Posted: May 14, 2012 4:22:13 PM Ignore qwerty17 Report Abuse "dollar strengthens"? haven't seen those 2 words together for a while.
ObieDog Champion Author Maryland Posts:1,966 Points:851,895 Joined:Sep 2010	Message Posted: May 14, 2012 12:37:52 PM Ignore ObieDog Report Abuse Woop woop.
Rehorsehay All-Star Author California Posts:871 Points:45,925 Joined:Feb 2012	Message Posted: May 14, 2012 12:32:12 PM Ignore Rehorsehay Report Abuse Gas prices up on the central coast of California? [Edited by: Rehorsehay at 5/14/2012 12:32:40 PM EST]
Penny_Pincher Veteran Author Columbus Posts:435 Points:22,695 Joined:Aug 2005	Message Posted: May 14, 2012 12:25:51 PM Ignore Penny_Pincher Report Abuse I'll take it.
blueBMW480 Champion Author Nashville Posts:818,391 Points:840,740 Joined:Jan 2011	Message Posted: May 14, 2012 11:58:44 AM Ignore blueBMW480 Report Abuse Great
sciotosix Champion Author Dayton Posts:2,749 Points:666,125 Joined:Apr 2011	Message Posted: May 14, 2012 11:56:16 AM Ignore sciotosix Report Abuse Finally some good news.
rjojo40 Champion Author Las Vegas Posts:7,368 Points:1,074,665 Joined:Feb 2004	Message Posted: May 14, 2012 11:52:32 AM Ignore rjojo40 Report Abuse With a stronger dollar should we not see the index drop?
TripleHs Champion Author Austin Posts:3,355 Points:916,590 Joined:Oct 2009	Message Posted: May 14, 2012 11:48:52 AM Ignore TripleHs Report Abuse energy prices are too high
deputydog082 Champion Author Detroit Posts:1,786 Points:660,340 Joined:Apr 2011	Message Posted: May 14, 2012 11:34:02 AM Ignore deputydog082 Report Abuse the dollar is stronger why?
des7902 Veteran Author Virginia Posts:385 Points:212,240 Joined:May 2011	Message Posted: May 14, 2012 11:31:32 AM Ignore des7902 Report Abuse This is a good thing.
Tehbob Champion Author California Posts:2,296 Points:457,605 Joined:Jan 2012	Message Posted: May 14, 2012 11:19:08 AM Ignore Tehbob Report Abuse hopefully it holds
K9LO Champion Author North Dakota Posts:2,685 Points:543,980 Joined:Nov 2010	Message Posted: May 14, 2012 10:49:03 AM Ignore K9LO Report Abuse It is about time.
Eugene_C Champion Author Columbus Posts:2,299 Points:155,995 Joined:Mar 2004	Message Posted: May 14, 2012 10:43:45 AM Ignore Eugene_C Report Abuse A weaker euro, by default, makes for a stronger dollar.
drpepperTX Champion Author Texas Posts:8,945 Points:752,210 Joined:Apr 2011	Message Posted: May 14, 2012 10:32:31 AM Ignore drpepperTX Report Abuse Dated Brent Spot 110.77 -1.28 -1.15% 10:26 ET WTI Cushing Spot 94.31 -1.82 -1.89% 09:11 ET Nymex RBOB Gasoline Future 295.54 -4.54 -1.51% 10:16 ET
OTISFL Champion Author Pensacola Posts:4,610 Points:865,815 Joined:Apr 2009	Message Posted: May 14, 2012 10:22:27 AM Ignore OTISFL Report Abuse Prices dropping here but surely not fast enough.
jorobins538 Champion Author Chicago Posts:4,732 Points:638,320 Joined:Sep 2009	Message Posted: May 14, 2012 10:20:20 AM Ignore jorobins538 Report Abuse ok
Jkent1953 Champion Author Salt Lake City Posts:1,986 Points:440,710 Joined:Dec 2011	Message Posted: May 14, 2012 10:17:45 AM Ignore Jkent1953 Report Abuse A warning about what will happen to the dollar if our economic policies don't change.
cricket48750 All-Star Author Michigan Posts:802 Points:413,580 Joined:May 2011	Message Posted: May 14, 2012 9:58:19 AM Ignore cricket48750 Report Abuse Should we actually say "dollar strengthening" or should we say "euro weakening?"
Eugene_C Champion Author Columbus Posts:2,299 Points:155,995 Joined:Mar 2004	Message Posted: May 14, 2012 9:38:58 AM Ignore Eugene_C Report Abuse Gas prices have been dropping here for nearly a month, Dennis. We went from the 3.90's to the 3.40's. Takes a while for the 30-day delivery contracts to catch up.
Dennis783 Champion Author Des Moines Posts:13,594 Points:2,703,885 Joined:Sep 2005	Message Posted: May 14, 2012 9:34:14 AM Ignore Dennis783 Report Abuse so where is the drop in gas prices?
Eugene_C Champion Author Columbus Posts:2,299 Points:155,995 Joined:Mar 2004	Message Posted: May 14, 2012 9:31:37 AM Ignore Eugene_C Report Abuse @gasrat: Since commodities are priced in dollars, the recent price declines suggest that the dollar is rising against the global average.
gasrat6083 Champion Author Long Island Posts:3,476 Points:1,162,180 Joined:Sep 2005	Message Posted: May 14, 2012 9:29:03 AM Ignore gasrat6083 Report Abuse As dollar strengthens? They mean as the euro weakens.
farmboyTN Champion Author Tennessee Posts:2,262 Points:449,310 Joined:Feb 2012	Message Posted: May 14, 2012 9:27:33 AM Ignore farmboyTN Report Abuse ok
davenles Champion Author Texas Posts:3,196 Points:718,660 Joined:May 2011	Message Posted: May 14, 2012 9:21:24 AM Ignore davenles Report Abuse But yet gas prices are slow to fall.
Skunk63 Champion Author Phoenix Posts:2,557 Points:558,395 Joined:Oct 2011	Message Posted: May 14, 2012 9:14:51 AM Ignore Skunk63 Report Abuse This story has more to do with the euro than the strength of the US dollar.
Joeski1 Champion Author New Jersey Posts:10,001 Points:1,741,835 Joined:Dec 2004	Message Posted: May 14, 2012 9:12:48 AM Ignore Joeski1 Report Abuse won't last... just a lil suck you all in before the next peak.
scu227 Champion Author New Haven Posts:4,152 Points:771,880 Joined:Feb 2011	Message Posted: May 14, 2012 9:10:48 AM Ignore scu227 Report Abuse Keep on dropping !!!
Ken2OD Champion Author Grand Rapids Posts:9,067 Points:1,970,965 Joined:Dec 2005	Message Posted: May 14, 2012 9:09:26 AM Ignore Ken2OD Report Abuse Alaska North Slope Crude closed at $112.03 on Friday. And, Alaska engineers have discovered another 50 million barrels of oil at the Oooguruk Island site in the Beaufort Sea. This is an artificial island near the mouth of the Colville River near the Village of Nuiqsut. Test have shown that 2000 barrels a day are possible from this new oil source. That is 68-1/2 years of production from this one well.
Ouch06 Champion Author Michigan Posts:1,613 Points:1,431,505 Joined:Apr 2006	Message Posted: May 14, 2012 9:06:03 AM Ignore Ouch06 Report Abuse More good news. :)