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Author Topic: Cost of oil drops along with Gustav’s force  (Read 917 times)

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Offline TheSarge

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Cost of oil drops along with Gustav’s force
« on: September 01, 2008, 03:54:13 PM »
Oil prices fell sharply Monday as weather forecasters said Hurricane Gustav was weakening as it advanced toward Louisiana.

A stronger dollar also helped reverse the course for oil prices, which had risen by nearly $3 a barrel earlier in the session.

Still, precautions due to Gustav prompted companies to shut down drilling and refining operations in the Gulf Coast region.

By afternoon in Europe, light, sweet crude for October delivery was down $2.24 to $113.22 a barrel in electronic trading on the New York Mercantile Exchange. Earlier in the session, it reached a high of $118.25 before retreating.

On Friday, the contract fell 13 cents to settle at $115.46 a barrel.

In London, October Brent crude was down $2.50 to $111.55 a barrel on the ICE Futures exchange. U.S. trading was closed Monday for Labor Day.

http://www.msnbc.msn.com/id/12400801/
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Offline BlueStateSaint

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Re: Cost of oil drops along with Gustav’s force
« Reply #1 on: September 01, 2008, 03:58:54 PM »
Quote from: TxRadioguy on September 01, 2008, 03:54:13 PM
Oil prices fell sharply Monday as weather forecasters said Hurricane Gustav was weakening as it advanced toward Louisiana.

A stronger dollar also helped reverse the course for oil prices, which had risen by nearly $3 a barrel earlier in the session.

Still, precautions due to Gustav prompted companies to shut down drilling and refining operations in the Gulf Coast region.

By afternoon in Europe, light, sweet crude for October delivery was down $2.24 to $113.22 a barrel in electronic trading on the New York Mercantile Exchange. Earlier in the session, it reached a high of $118.25 before retreating.

On Friday, the contract fell 13 cents to settle at $115.46 a barrel.

In London, October Brent crude was down $2.50 to $111.55 a barrel on the ICE Futures exchange. U.S. trading was closed Monday for Labor Day.

http://www.msnbc.msn.com/id/12400801/


Guess they're a tad pissed . . .  :-)
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Offline Airwolf

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Re: Cost of oil drops along with Gustav’s force
« Reply #2 on: September 02, 2008, 08:57:53 PM »
Around noon oil was listed at around $106/barrel
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Offline Chris

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Re: Cost of oil drops along with Gustav’s force
« Reply #3 on: September 02, 2008, 09:10:08 PM »
I filled up at $3.61 today.  :(  It was a little high... I know of at least one or two other stations that were selling gas for 25 cents cheaper, but they're on the other side of town.
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