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Thursday, October 03, 2013

Oil Falls Below $104 A Barrel As Inventories Rise

BANGKOK (AP) — Oil prices on Thursday shed some of the prior day's gains after a report showed a bump upward in U.S. crude inventories.

Benchmark oil for November delivery was down 41 cents to $103.69 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.

A report from the American Petroleum Institute showed an increase in oil supplies for the week ending Sept. 27. Stocks rose by 356,000 barrels to 363.7 million barrels from the prior week, suggesting a weakening in demand.
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4 comments:

  1. AnonymousOctober 3, 2013 at 7:41 PM

    And the cost of gasoline when Obama took office was $1.88. So anyone have answer? Perhaps he is supporting his family in the Muslim Brotherhood.

    ReplyDelete
  2. AnonymousOctober 4, 2013 at 8:16 AM

    741, clearly demand had also tanked at that time. Please cut the buffoonery.

    ReplyDelete
  3. AnonymousOctober 4, 2013 at 1:49 PM

    741 And oil was trading at $25 a barrel at the time as well. So if we use your logic then gas should be $8.00 a gallon

    ReplyDelete
  4. AnonymousOctober 4, 2013 at 4:43 PM

    Yep 1:45 im crazy enough to actually think that the price of gas is largely influenced by the price of oil

    ReplyDelete

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