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Oil Falls to Four-Month Low on European Votes, U.S. Jobs

Bloomberg -- Oil fell to the lowest level in more than four months after European elections stoked speculation that austerity efforts will be derailed and weaker-than-expected jobs data underscored concern the U.S. economy may falter.

Futures pared losses after slumping as much as 3.2 percent to the lowest intraday price since Dec. 20. European equities and the euro fell after France elected Socialist Francois Hollande as president and Greek voters flocked to anti-bailout parties. Crude extended a 4 percent drop on May 4 after U.S. payrolls rose by the least in six months.

“Elections in France and Greece brought euro-zone fears back to the fore,” Nam Truong, a dealer at London Capital Group Holdings Plc, said in an e-mailed note. Investors are concerned that European austerity measures will wea

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Submitted May 07, 2012 By: WxVette
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Falls to Four-Month Low on European Votes, U.S. Jobs Post a Reply Back to Topics
REPLIES (newest first)
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drpepperTX
Champion Author Texas

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Message Posted: May 7, 2012 8:17:52 PM
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Current quotes:

GASOLINE RBOB FUT (USD/GAL.) 298.14 +0.74
(0.24%) 20:04 ET
WTI CRUDE FUTURE (USD/BBL.) 97.94 +0.00
(0.0%) 20:04 ET
BRENT CRUDE FUTR (USD/BBL.) 113.35 +0.19
(0.16%) 20:05 ET
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jjjleblanc
Champion Author Rochester

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Message Posted: May 7, 2012 7:02:54 PM
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Falling on more bad news.
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A2J
Champion Author Richmond

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Message Posted: May 7, 2012 1:26:08 PM
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Finally, small break thru..,
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Jeff4U
Champion Author Atlanta

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Message Posted: May 7, 2012 12:54:17 PM
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Crude should be priced no higher than $65 per barrel.
I'm sure OPEC would be comfortable.
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Travel1st
Champion Author Las Vegas

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Message Posted: May 7, 2012 12:21:48 PM
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OK
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Night Owl
Champion Author Toronto

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Message Posted: May 7, 2012 10:52:24 AM
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Good news, but oil prices are still far too high thanks to greedy Wall Street oil speculators.
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doctorindyj
Champion Author Santa Fe

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Message Posted: May 7, 2012 10:52:21 AM
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Damned if you do and damned if you don't.
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leraar2
Champion Author Massachusetts

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Message Posted: May 7, 2012 10:20:14 AM
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i guess this demonstrates the extent of the influence
that PURE SPECULATORS have on oil prices.
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BUSMAN1105
Champion Author Atlanta

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Message Posted: May 7, 2012 10:13:17 AM
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GOOD, DROP BABY DROP SOME MORE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Eugene_C
Champion Author Columbus

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Message Posted: May 7, 2012 9:49:54 AM
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This makes no sense. Austerity kills demand. So, the short-term effect of this will be less austerity, so gas prices should rise. It will be a couple of years before the economic impacts are fully realized.
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MontanaMac
Champion Author Washington

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Message Posted: May 7, 2012 9:36:54 AM
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France, Greece and the EU are toast.
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Skunk63
Champion Author Phoenix

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Message Posted: May 7, 2012 9:33:52 AM
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The EU is toast.
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Evilmaddog
Champion Author British Columbia

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Message Posted: May 7, 2012 9:28:39 AM
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?????????$$$$$$$$$$
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glorioussnookie
Champion Author Tennessee

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Message Posted: May 7, 2012 9:28:24 AM
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Buckeye you sure said it! our government enables way to much!
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tatker
Champion Author Asheville

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Message Posted: May 7, 2012 9:24:23 AM
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please know I'm kidding but see the positive results of a socialist president in France....
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Rich1430
All-Star Author Indiana

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Message Posted: May 7, 2012 9:19:14 AM
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Agreed. Keep falling.
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scu227
Champion Author New Haven

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Message Posted: May 7, 2012 9:15:17 AM
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Keep falling
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wrunner
Champion Author Virginia

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Message Posted: May 7, 2012 9:14:40 AM
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Maybe cyclical.

Do not get your HOPES up for too long.

It may CHANGE in a heartbeat.
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Buckeyee
Champion Author Maine

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Message Posted: May 7, 2012 8:58:00 AM
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Can you imagine what would happen if we had a president who cut back on all the welfare and " free " money. Europe here we come !
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investmentdr
Champion Author Cleveland

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Message Posted: May 7, 2012 8:54:59 AM
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lovin it
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dgerst
Champion Author South Carolina

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Message Posted: May 7, 2012 8:54:29 AM
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Keep the price down!!
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buckets42
Champion Author New Jersey

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Message Posted: May 7, 2012 8:48:04 AM
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Good
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mreiff
Champion Author Louisville

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Message Posted: May 7, 2012 8:47:10 AM
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Good news, now we just need gas to follw suit.
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drpepperTX
Champion Author Texas

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Message Posted: May 7, 2012 8:36:44 AM
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Latest numbers:

BRENT CRUDE FUTR (USD/BBL.) 112.90 -0.29
(-0.25%) 08:17 ET
GASOLINE RBOB FUT (USD/GAL.) 297.89 +0.32
(0.1%) 08:17 ET
WTI CRUDE FUTURE (USD/BBL.) 97.81 -0.68
(-0.7%) 08:18 ET
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Wanda127
Champion Author Florida

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Message Posted: May 7, 2012 8:36:15 AM
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Good!!!
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NoSoup4U
Champion Author Raleigh

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Message Posted: May 7, 2012 8:36:04 AM
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And gas prices... barely nudge.
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grandpadon28110
Champion Author Charlotte

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Message Posted: May 7, 2012 8:29:24 AM
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Bring'er on down!!!
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dorisntx
Champion Author Fort Worth

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Message Posted: May 7, 2012 8:28:41 AM
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ok
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lcleveland
Champion Author San Antonio

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Message Posted: May 7, 2012 8:19:39 AM
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ok
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bar1035
Champion Author Charlotte

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Message Posted: May 7, 2012 8:18:46 AM
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so your 401k was down Friday and could be down more today.
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MetroSexual
Champion Author New Hampshire

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Message Posted: May 7, 2012 8:16:56 AM
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And yet gas prices are staying in the stratosphere.
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TripleHs
Champion Author Austin

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Message Posted: May 7, 2012 8:16:21 AM
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still way too high due to speculations
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APlus
Champion Author San Antonio

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Message Posted: May 7, 2012 8:11:43 AM
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So?
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"Consumers working together to save on gas"