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Oil Declines From Two-Month High Amid Signs of Economic Weakness

Bloomberg -- Oil dropped from the highest close in more than two months in New York amid signs of weakening demand in the U.S., the world’s biggest crude consumer, and slowing growth in Germany.

Futures fell as much as 0.9 percent, dropping for the first time in four days. Crude consumption declined 4 percent to 15.9 million barrels a day last week, the biggest percentage decrease in a month, data from the American Petroleum Institute showed. Gasoline usage was the lowest since February, according to the API figures. German industrial production declined in June, led by a drop in construction output, data from the Economy Ministry in Berlin showed today.

“There are no signs of growth coming out of Europe’s largest economies,” said Christopher Bellew, a senior broker at Jefferies Bache Ltd. in L

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Submitted Aug 08, 2012 By: WxVette

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REPLIES (newest first)Ignore Short Messages

jrs4125 Champion Author Indiana Posts:2,893 Points:618,470 Joined:Sep 2011	Message Posted: Aug 9, 2012 6:03:10 AM Ignore jrs4125 Report Abuse Alrighty then
brbaritone Champion Author Virginia Posts:2,141 Points:1,723,145 Joined:Jan 2007	Message Posted: Aug 8, 2012 5:43:10 PM Ignore brbaritone Report Abuse Demand is at an 11-year low, and it's been weak for almost 4 years. The recent increases have nothing to do with supply or demand.
Xavier80 Champion Author Victoria Posts:1,907 Points:401,920 Joined:Apr 2012	Message Posted: Aug 8, 2012 8:12:30 AM Ignore Xavier80 Report Abuse ok
csblesson Champion Author Texas Posts:1,926 Points:378,725 Joined:May 2012	Message Posted: Aug 8, 2012 8:07:31 AM Ignore csblesson Report Abuse What? See the gas station before posting please...
bpasta Champion Author Ohio Posts:2,759 Points:458,280 Joined:Nov 2010	Message Posted: Aug 8, 2012 7:57:01 AM Ignore bpasta Report Abuse Must be old cause price's here are up way to high
lcleveland Champion Author San Antonio Posts:2,756 Points:676,005 Joined:May 2011	Message Posted: Aug 8, 2012 7:56:17 AM Ignore lcleveland Report Abuse why are prices going up continuously
car253 Champion Author Ohio Posts:6,425 Points:1,494,370 Joined:Oct 2008	Message Posted: Aug 8, 2012 7:38:36 AM Ignore car253 Report Abuse We have had economic weakness for 42 months and prices have doubled. Obama's policies?
CivicMA Champion Author Boston Posts:2,035 Points:561,620 Joined:Jun 2011	Message Posted: Aug 8, 2012 7:35:19 AM Ignore CivicMA Report Abuse Must be an old article. Only seeing increases here and we've lost all the "price drops" we saw for a mere month!
Evilmaddog Champion Author British Columbia Posts:3,461 Points:984,275 Joined:Aug 2010	Message Posted: Aug 8, 2012 7:32:04 AM Ignore Evilmaddog Report Abuse blah, blah...have not seen a price drop in a year.....still paying $5/Us gal
TomT2Lee Champion Author Cincinnati Posts:5,471 Points:1,623,135 Joined:Sep 2005	Message Posted: Aug 8, 2012 7:27:23 AM Ignore TomT2Lee Report Abuse Yea; there IS NO RECOVERY!!!! Giving the American credit drug addict a near lethal injection more credit and US dollar destruction does NOT MEAN RECOVERY!!!
dm9667_23 Champion Author Pennsylvania Posts:1,287 Points:375,425 Joined:May 2008	Message Posted: Aug 8, 2012 7:25:18 AM Ignore dm9667_23 Report Abuse ok
merlinCO Champion Author Colorado Posts:1,775 Points:368,120 Joined:Mar 2012	Message Posted: Aug 8, 2012 7:22:50 AM Ignore merlinCO Report Abuse Yet retail prices go up.
brbts Champion Author Charlotte Posts:3,747 Points:796,265 Joined:Feb 2011	Message Posted: Aug 8, 2012 7:15:32 AM Ignore brbts Report Abuse So then why are prices going up???
dorisntx Champion Author Fort Worth Posts:2,079 Points:664,255 Joined:Apr 2011	Message Posted: Aug 8, 2012 7:15:09 AM Ignore dorisntx Report Abuse blah, blah, blah...
memo81 Champion Author St. Louis Posts:2,484 Points:471,225 Joined:Feb 2012	Message Posted: Aug 8, 2012 7:14:40 AM Ignore memo81 Report Abuse Up and down. Same ole song
Chem60 Champion Author Tallahassee Posts:4,016 Points:839,775 Joined:Oct 2010	Message Posted: Aug 8, 2012 7:13:33 AM Ignore Chem60 Report Abuse It won't keep prices from rising.