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Crude Oil Falls From Nine-Month High on Signs of Slowdown in Europe, China

Bloomberg -- Oil fell from a nine-month high as signs of slowing demand in Europe and China countered concern that a conflict between Iran and Western nations may escalate and disrupt supplies from the Persian Gulf producer.

Futures slipped as much as 0.6 percent in New York after an index based on a survey of euro-region purchasing managers unexpectedly declined, signaling a contraction. Manufacturing in China, the world’s second-biggest oil consumer, may shrink for a fourth month. Oil rose earlier after United Nations inspectors in Iran said they were denied access to a suspected nuclear- related military base.

The purchasing manager index indicates that “euro-zone economies will remain very weak in the months ahead,” said Andy Sommer, a senior trader at EGL AG in Dietikon, Switzerland. “That

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Submitted Feb 22, 2012 By: WxVette

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scu227 Champion Author New Haven Posts:4,125 Points:766,905 Joined:Feb 2011	Message Posted: Feb 22, 2012 8:31:24 AM Ignore scu227 Report Abuse Should be sigfnificantly lower, the Speculators are killing any chance of a recovery.
DYSKYPILOT Champion Author Fort Worth Posts:2,877 Points:621,480 Joined:Mar 2006	Message Posted: Feb 22, 2012 8:28:20 AM Ignore DYSKYPILOT Report Abuse Stop SPECULATION NOW.
SkyWarnTX All-Star Author Texas Posts:947 Points:57,185 Joined:Jan 2012	Message Posted: Feb 22, 2012 8:14:19 AM Ignore SkyWarnTX Report Abuse --- ?? Think BIG WALL STREET BANKS & SPECULATORS are causing the RISE in OIL Prices ?? YOU ARE CORRECT, BUT DO YOU KNOW HOW BIG WALL STREET BANKS & SPECULATORS CAME TO BE BIG OIL ENERGY TYCOONS… ? VIEW THIS ... AND YOU TOO WILL KNOW, “THE REST OF THE STORY”... CLICK HERE to WATCH the VIDEO explaining how WE GOT TO THIS POINT in GAS PRICES & HOME HEATING BILLS --- There is NO SHORTAGE of REFINED GASOLINE in the U.S., only an OVERABUNDANCE of SPECULATOR GREED in the OIL FUTURES MARKET, bidding up the PRICE of OIL CONTRACTS, that INVESTORS NEVER TAKE DELIVERY OF. --- DRILL BABY DRILL then EXPORT somewhere else does not make any sense. U.S. OIL Companies Export 117 million gallons per day of Refined GASOLINE... from the U.S. away to OTHER COUNTRIES... to keep the price up... --- MANIPULATING the OIL FUTURES MARKET is a “Suited-Up” RICH MAN's GAME, played on the BACKS of HARD WORKING AMERICANS. --- Investors have moved out of Financial Stocks into OIL FUTURES Market which currently have a higher rate of return. See this REPORT from KTLA ---
Buckeyee Champion Author Maine Posts:4,581 Points:895,005 Joined:May 2010	Message Posted: Feb 22, 2012 7:40:49 AM Ignore Buckeyee Report Abuse I believe that.
FPLREP Champion Author Virginia Posts:8,242 Points:2,444,270 Joined:Oct 2005	Message Posted: Feb 22, 2012 7:10:39 AM Ignore FPLREP Report Abuse High prices will do that.