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Oil Falls to Two-Week Low in New York as Japanese Quake May Limit Demand

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posted on Mar, 14 2011 @ 01:19 PM
From Bloomburg

Oil fell to a two-week low in New York on speculation that the worst earthquake in Japan’s history will hurt growth and reduce fuel demand in the world’s third- largest economy.

Here's the thing... Prices have dropped 6.1 percent in five days of losses...but they rose nearly 20 percent to the levels we see today... anyway I know what your all gonna ask

What's this mean in terms of what I pay for gas... well the answer is...
Nymex RBOB Gasoline Future 296.09 -2.68 -0.90% 14:04

Oil for April delivery fell on the New York Mercantile Exchange as much as $2.69, or 2.7 percent, to $98.47 a barrel, the lowest price since March 1. It was at $99.61 at 11:48 a.m. London time. Brent oil for April settlement on the London-based ICE Futures Europe exchange dropped as much as $2.68, or 2.4 percent, to $111.16 a barrel, the lowest price since Feb. 25.

But it could be lower... or not... markets are a funny thing ya know
edit on 14-3-2011 by DaddyBare because: (no reason given)


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