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Omaha Steve Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 02:48 PM
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Oil Prices Drop by Almost $2 a Barrel


Full story: http://apnews.excite.com/article/20060810/D8JDN7H00.htm...

Oil Prices Drop by Almost $2 a Barrel
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Aug 10, 1:58 PM (ET)

By MADLEN READ

NEW YORK (AP) - Crude oil prices fell nearly $2 a barrel Thursday as thwarted airplane attacks led many carriers to cancel flights, which could mean dampened jet fuel demand and weaker consumer confidence.

Light, sweet crude for September delivery dropped $1.95 to $74.40 a barrel in early afternoon trading on the New York Mercantile Exchange.


Shipping containers are stacked on a cargo ship as it passes the Statue of Liberty in New York harbor Wednesday, Aug. 9, 2006. The Commerce Department reported Thursday, Aug. 10 that America's trade deficit improved slightly in June as record sales of U.S. farm products and other exports blunted the impact of soaring crude oil prices. Maersk is a shipping company based in Denmark. (AP Photo/Mark Lennihan)


Gasoline futures dropped more than 11 cents to $2.0615 a gallon, while heating oil futures fell more than 6 cents to $2.044 a gallon.

On Thursday, British authorities said they had stopped a terrorist plot to blow up several aircraft in flight between the United States and the United Kingdom.

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Tight_rope Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 02:51 PM
Response to Original message
1. Must be the pressure of no one giving a fuck any more...
because we are all fucked out when it come to gas prices.
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Trillo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 02:55 PM
Response to Reply #1
3. My first impression was
that the GOP/BigOil/Corporatists are worried about the election.
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Ragin_mad Donating Member (116 posts) Send PM | Profile | Ignore Thu Aug-10-06 02:54 PM
Response to Original message
2. Oil closed down 2.35 @74.00
But the reral loser was gasoline. Unleaded futures dropped over 8% to close at 198.8 down 18 cents per gallon.
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Mojambo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 03:01 PM
Response to Original message
4. Just means they're going to thrust harder and faster later
Got to pop that money shot before the elections.

My ass is getting sore.
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TAPat Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 03:02 PM
Response to Original message
5. Have a look at STOCK MARKET WATCH here every
morning!
Check out the crude graph - veerrrry interestink.
I'm not trying to be a snot, but ups and downs don't mean a thing except that the up side stays the up side and down keeps gettin' higher.

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Betty Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 10:46 PM
Response to Original message
6. not that we'll see any of that
at the pump... it only goes up, regardless.
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MiniMe Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-11-06 07:11 AM
Response to Original message
7. So.....that means that Gas prices should be coming down, right?
Since they go up every time they announce an increase in oil prices, then logically it should come down when the price in oil goes down. Yeah, right.
:sarcasm:
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legin Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-11-06 08:00 AM
Response to Original message
8. Karl Popper used to call economists 'witch-doctors'
Tom Bentz, an analyst at BNP Paribas Commodity Futures gets my 'witch-doctor of the week' award.
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Mountainman Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-11-06 08:03 AM
Response to Original message
9. Oh Oh, the price of oil dropped, they have to raise gas prices for some
unknown reason because of it.
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Javaman Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-11-06 08:11 AM
Response to Original message
10. The price was back up this morning by 2 dollars. nt
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gasperc Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-11-06 10:51 AM
Response to Original message
11. we'll be scared to death and jobless
if oil and gas for that matter drops back down to $2/gallon it'll likely be because demand has softened to the point of living in a broken economy

Rove may be gleeful of hyping the terror factor but he completely misses the point of the the chilling effect this will have on the economy no matter how much you can pin it on the terrorists.
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