Oil Prices Drop Below $90 A Barrel

AP   |  PABLO GORONDI   |   November 30, 2007 08:17 AM

Read More: Crude Oil, Crude Oil Prices, New York Mercantile Exchange, Oil Prices, Oil Prices Drop, Opec, Breaking Business News
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Oil prices fell Friday on expectations that OPEC will increase output next week and on fading concerns of a supply disruption from a U.S. pipeline fire.

Light, sweet crude for January delivery fell $1.55 to $89.46 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. On Thursday, the crude contract gained 39 cents to settle at $91.01 a barrel in choppy trade.

In London, January Brent crude dropped $1.78 to $88.44 a barrel on the ICE Futures exchange.

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- nomoredead See Profile I'm a Fan of nomoredead permalink

A great sign was at the LA Auto Show last week seeing all the models of electric, hybrid, hydrogen, biodiesel, and ethanol models. They are here NOW, not waiting to be invented. The bad sign was the crowds drooling over the huge SUVs.

    Favorite    Flag as abusive Posted 10:46 AM on 12/02/2007
- Ginzaman See Profile I'm a Fan of Ginzaman permalink

Wanna know the truth about global warming? Go here:

http://www.cbc.ca/fifth/denialmachine/video.html

    Favorite    Flag as abusive Posted 01:05 PM on 12/01/2007
- Ping See Profile I'm a Fan of Ping permalink

What sayeth you "Gloom and Doomers"? Peak oil. What happened to Peak oil? Where is my peak oil?

    Favorite    Flag as abusive Posted 11:27 AM on 12/01/2007
- realitytrumpsbull See Profile I'm a Fan of realitytrumpsbull permalink

Someday, it'll be a dollar a barrel...but no
one will have a dollar...

    Favorite    Flag as abusive Posted 12:20 AM on 12/01/2007
- mmckinl See Profile I'm a Fan of mmckinl permalink

Just normal fluctuations in the market ...

We are coming to the end of the month and contracts will either be rolled or sold. The underlying fundamentals have not changed , that is , a very tight supply where any disruptions will cause spikes.

    Favorite    Flag as abusive Posted 01:00 PM on 11/30/2007
- BRUMALIA See Profile I'm a Fan of BRUMALIA permalink

A temporary relief, but not a permanent resolution of the oil crisis.US$ 100.00 per barrel is still looming. We need to conserve energy,decrease our reliance on Middle Eastern oil,and develop alternative sources of energy.This respite or relief may be short-lived as a consequence of geo-politics,and the industrialization of China and India with respect to their economic growth.Also, rein in the exploitative oil companies with their relentless quest of manipulating and driving oil prices skywards for asftronomical profits.

    Favorite    Flag as abusive Posted 11:19 AM on 11/30/2007
- willo See Profile I'm a Fan of willo permalink

Keep in mind our troops have invaded foreign nations illegally to steal control of their resources. The cost of this war should be rolled into the price of gasoline. That way people could more easily see how much the war is really costing.
Their should be a warning on the gas pump like there is for cigarettes about the dangers of the products use.

    Favorite    Flag as abusive Posted 11:17 AM on 11/30/2007
- rbspickles See Profile I'm a Fan of rbspickles permalink

WOW!! This is amazing! And right before the Christmas shopping extravaganza! Now I can afford to go crazy shopping because gas is going to go down! Kool!


Sheeshe :(

    Favorite    Flag as abusive Posted 10:40 AM on 11/30/2007
- CologneCitizen See Profile I'm a Fan of CologneCitizen permalink

And if OPEC deides in their meeting next week to increase the output, the oil price will even go down more. Good news no doubt.

    Favorite    Flag as abusive Posted 10:38 AM on 11/30/2007
- Fuji See Profile I'm a Fan of Fuji permalink

As an immediate effect, this is bad news -- for skawking chicken littles. In the long term, this is bad because it turns down the fire that should be under us, lighting our way to get off petro.

    Favorite    Flag as abusive Posted 09:44 AM on 11/30/2007
- ming099 See Profile I'm a Fan of ming099 permalink

...........POLLYANNA SAYS.............


....if we all would just use a little less gas/oil/petroleum the price per BBL would come down.......


....thats what POLLYANNA says........

    Favorite    Flag as abusive Posted 09:41 AM on 11/30/2007
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