JakeStarkey
Diamond Member
- Aug 10, 2009
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The world wide economic weaknesses continue as oil drops again. US stocks are down, but our economy keeps the rest of the world afloat. The Saudis seemed determined to break Russia's economy, which is based on oil.
Andrew Cullen | Reuters
An oil pumpjack operates near Williston, North Dakota.
Oil prices pared losses after U.S. crude briefly dipped below $30 on Tuesday, but remained under pressure on worries about the demand outlook and rising supply, while hopes for a deal between OPEC and Russia on output cuts faded.
Brent for April delivery had dropped $1.17, or 3.4 percent, to $33.07 a barrel by 10:53 a.m. ET (1553 GMT), off a session low of $32.23. It settled down $1.75, or 4.9 percent, in the previous session.
The front-month contract for West Texas Intermediate (WTI) was down $1.27, or 4 percent, at $30.35, having fallen as low as $29.81. It fell $2, or 5.9 percent, the session before.
Oil prices off lows after WTI dips below $30
Andrew Cullen | Reuters
An oil pumpjack operates near Williston, North Dakota.
Oil prices pared losses after U.S. crude briefly dipped below $30 on Tuesday, but remained under pressure on worries about the demand outlook and rising supply, while hopes for a deal between OPEC and Russia on output cuts faded.
Brent for April delivery had dropped $1.17, or 3.4 percent, to $33.07 a barrel by 10:53 a.m. ET (1553 GMT), off a session low of $32.23. It settled down $1.75, or 4.9 percent, in the previous session.
The front-month contract for West Texas Intermediate (WTI) was down $1.27, or 4 percent, at $30.35, having fallen as low as $29.81. It fell $2, or 5.9 percent, the session before.
Oil prices off lows after WTI dips below $30