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GasBuddy News Article

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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
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Declines From Two-Month High Amid Signs of Economic Weakness Back to Topics
REPLIES (newest first) Post a Reply
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jrs4125
Champion Author Indiana

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Message Posted: Aug 9, 2012 6:03:10 AM

Alrighty then
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brbaritone
Champion Author Virginia

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Message Posted: Aug 8, 2012 5:43:10 PM

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.
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Xavier80
Champion Author Victoria

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Message Posted: Aug 8, 2012 8:12:30 AM

ok
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csblesson
Champion Author Texas

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Message Posted: Aug 8, 2012 8:07:31 AM

What? See the gas station before posting please...
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bpasta
Champion Author Ohio

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Message Posted: Aug 8, 2012 7:57:01 AM

Must be old cause price's here are up way to high
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lcleveland
Champion Author San Antonio

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Message Posted: Aug 8, 2012 7:56:17 AM

why are prices going up continuously
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car253
Champion Author Ohio

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Message Posted: Aug 8, 2012 7:38:36 AM

We have had economic weakness for 42 months and prices have doubled. Obama's policies?
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CivicMA
Champion Author Boston

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Message Posted: Aug 8, 2012 7:35:19 AM

Must be an old article. Only seeing increases here and we've lost all the "price drops" we saw for a mere month!
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Evilmaddog
Champion Author British Columbia

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Message Posted: Aug 8, 2012 7:32:04 AM

blah, blah...have not seen a price drop in a year.....still paying $5/Us gal
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TomT2Lee
Champion Author Cincinnati

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Message Posted: Aug 8, 2012 7:27:23 AM

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!!!
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dm9667_23
Champion Author Pennsylvania

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Message Posted: Aug 8, 2012 7:25:18 AM

ok
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merlinCO
Champion Author Colorado

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Message Posted: Aug 8, 2012 7:22:50 AM

Yet retail prices go up.
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brbts
Champion Author Charlotte

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Message Posted: Aug 8, 2012 7:15:32 AM

So then why are prices going up???
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dorisntx
Champion Author Fort Worth

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Message Posted: Aug 8, 2012 7:15:09 AM

blah, blah, blah...
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memo81
Champion Author St. Louis

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Message Posted: Aug 8, 2012 7:14:40 AM

Up and down. Same ole song
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Chem60
Champion Author Tallahassee

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Message Posted: Aug 8, 2012 7:13:33 AM

It won't keep prices from rising.
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