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| Oil down over $1 on U.S. oil stocks build, economy |
| 2009-01-23 |
| SINGAPORE, Jan 23 (Reuters) - Oil fell by more than $1 a barrel on Friday after U.S. weekly oil stocks data showed U.S. crude and products stocks builds, signalling a further weakening of demand in the world's top consumer. A string of bearish economic indicators in the U.S. and Asia added to the gloom. U.S. light crude for March delivery CLc1 fell 92 cents a barrel to $42.75 by 0144 GMT, having slid by as much as $1.08 earlier. London Brent crude LCOc1 fell 73 cents to $44.66 a barrel. |
| Posted by:Steve White |
| #3 Not necessarily a good idea to twitch at every jog in daily trading. It's still up eight bucks from the other week's trough. Keep an eye on trading bands, rather than the current day's price. Right now, it seems to be rattling between $35 and $45, the same way that the Dow's been bobbling between 7900 and 8500, give or take, since the election. |
| Posted by: Mitch H. 2009-01-23 08:52 |
| #2 Remind me again, when did we hit peak oil? |
| Posted by: Procopius2k 2009-01-23 08:18 |
| #1 Let the oil ticks eat their oil. Folks in the exporting countries are in for a world of hurt when Americans really cut back on their consumption of all products. I hope the pain they feel causes the Rulers in these countries to lose their heads...literally. |
| Posted by: Spusosh the Prolific6862 2009-01-23 01:07 |