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2014-07-09
R.I.P. William 'Bill' Herbert Kelder - Intellpuke

2013-11-28
Gamers Donate 37,500 Pounds Of Food To Needy

2013-09-30
Statement From The Whitehouse Regarding The Government Shutdown

2013-09-29
An Open Response To 'Organizing for Action'

2013-08-26
Bayou Corne: The Biggest Ongoing Disaster In The U.S. You Have Not Heard Of

2013-04-21
Boston Mayor Hopes Feds 'Throw the Book' at Marathon Bombing Suspect

2013-04-19
Boston Police Closing In On Suspects

2013-04-15
2 Explosions At Boston Marathon. 2 Dead, Many Injured.

2013-01-03
The Press vs Citizens Rights and Privacy - Act 3

2012-12-30
CBS News - Year In Review 2012

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Colbert Nation: 2012: A Look Back

FIP Year In Review(s?)

2012-12-25
Happy Holidays

2012-12-21
Welcome To A New Era!

2012-12-16
An Open Letter To United Health Care, Medcom, And The Medical Insurance Industry In General

2012-11-17
Whitehouse Petition To Remove "Under God" and "In God" From Currency And The Pledge.

2012-11-15
December 21, 2012

2012-11-11
If Hillary Clinton Ran For President, She Would Probably Be The Best-prepared Candidate In American History

2012-11-10
CIA Director David Petraeus Resigns After FBI Investigation Uncovers Affair With High-Profile Journalist

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2012-11-07
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2012-11-06
Live Election Results

2012-09-30
FIP In Hiatus

2012-09-18
U.S.-Afghan Military Operations Suspended After Attacks

Iran Nuclear Chief Says IAEA Might Be Infiltrated By 'Terrorists And Saboteurs'

Romney Stands By Gaffe

2012-09-17
President Obama Says China Trade Practices Harm American Auto Parts Workers


Oil Hovers Below $93 After Sharp Two-Week Sell-Off
2012-05-18 03:47:21 (127 weeks ago)
Posted By: Intellpuke
Oil prices hovered below $93 a barrel Friday in Asia, pausing after the latest twists in Europe's debt crisis triggered a sharp two-week sell-off.

Benchmark oil for June delivery was up 4 cents to $92.60 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 25 cents to settle at $92.56 in New York on Thursday.

Brent crude for July delivery was up 11 cents at $107.60 per barrel in London.

Crude has plunged about 13 percent from $106 two weeks ago because of expectations Europe's debt crisis will slow the global economy and reduce demand for fuel.

On Thursday, rating agency Moody's downgraded its credit ratings on 16 Spanish banks while a newspaper reported depositors were rushing to withdraw their money from Bankia, a troubled Spanish bank that was effectively nationalized just one week ago.

(story continues below)




Investors are also closely watching the U.S. economy, which has shown signs of uneven growth in recent months. The government said Wednesday that crude inventories rose again last week to their highest since 1990.

"The oil market remains highly sensitive to any negative macroeconomic news, particularly with stockpiles at 22-year highs," energy trader and consultant Ritterbusch and Associates said in a report.

A sustained drop in crude should eventually ease gasoline prices, which would slow global inflation and allow policymakers to implement stimulus measures or loosen monetary policy to boost economic growth.

In other energy trading, heating oil was up 0.4 cent at $2.86 per gallon and gasoline futures slid 0.7 cent at $2.81 per gallon. Natural gas rose 3.3 cents at $2.63 per 1,000 cubic feet.

Intellpuke: You can read this article by Associated Press writer Alex Kennedy, reporting from Singapore, in context here: www.guardian.co.uk/world/feedarticle/10247814

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