Crude down, hits biggest 3 week loss since Aug, 2011 [SoftCommodities] - MarketTicker Forums


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User Info	Crude down, hits biggest 3 week loss since Aug, 2011 in forum [SoftCommodities]
Guydaley Posts: 15320 Incept: 2007-07-10 Wyoming only ATM Banned	NEW YORK (Reuters) - Crude oil futures fell more than 1 percent on Friday, down for the sixth straight session, as worsening problems in Greece and Spain raised worries of contagion in the euro zone and as a late tumble in U.S. equities spurred further selling in oil markets. NYMEX crude for June delivery settled at $91.48 a barrel, falling $1.08, or 1.17 percent. For the week, it slid $4.65, or 4.84 percent, extending weekly losses to a third in a row. In three weeks, front-month U.S. crude has slumped $13.45, or 12.82 percent, the biggest three-week loss since the week to August 14, 2011, when prices dropped 14.54 percent. http://finance.yahoo.com/news/brent-stea.... Too bad its not biggest 3 week loss in last 10 years instead. This is just letting a little pressure off the thumb screws. I'm sure headlines will cry demand from India and China forcing price up, shortly to reverse this minor setback. ---------- Its called creeping TEOTWAWKI. Just because it doesn't happen all at once doesn't mean it isn't happening. 2012-05-18 16:47:04 Permalink
Eleua Posts: 14022 Incept: 2007-07-05 N 47.72/ W 122.55	Unleaded is up 40 cents in the past 2 weeks. WTF? ---------- http://clearcutbainbridge.blogspot.com/ "My object in life is to dethrone God and destroy capitalism." - Karl Marx "Destroy the family, you destroy the country." - Lenin "Education is a weapon whose effects depend on who holds it in his hands and at whom it is aimed." - Stalin 2012-05-18 17:00:48 Permalink
Rrman Posts: 6223 Incept: 2007-10-27 Baton Rouge, LA	The charts say it will be hard pressed to hold 70 this summer....when oil breaks it breaks it's not for faint heart to play....we get a rebound before that happens though... Last modified: 2012-05-18 17:06:07 by rrman Reason: addition 2012-05-18 17:04:53 Permalink
Christiangustafson Posts: 4140 Incept: 2007-06-27 Helping Hand Acceptance Corporation Banned	Per Steve of Virginia, there is no credit left to maintain the bid. http://www.economic-undertow.com/2012/05.... Instead, new "supply" comes from weak nations being weaned off the international crude oil teat. ---------- It is therefore, on opinion only that government is founded... -- Hume Last modified: 2012-05-21 00:41:37 by christiangustafson 2012-05-21 00:40:52 Permalink