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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

Nature.com - 366 Days: 2012 In Review

The Guardian - 2012 In Review: An Interactive Guide To The Year That Was

TruTV - The Biggest Conspiracy Theories of 2012

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

FIP Format Update

2012-11-07
Thank you for voting.

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 Slips to Near $90 A Barrel As Growth Prospects Dim
2012-05-25 02:59:19 (119 weeks ago)
Posted By: Intellpuke
Oil slipped to near $90 a barrel Friday in Asia amid signs of sharply slowing economic growth in Europe and China.

Benchmark oil for July delivery was down 33 cents to $90.33 a barrel at mid-day Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 76 cents to settle at $90.66 in New York on Thursday.

Brent crude for July delivery was down 33 cents at $106.22 per barrel in London.

Weaker manufacturing figures released Thursday in Europe and China suggest a sharper slowdown in the global economy and weaker demand for crude.

Some European countries, such as Italy and Spain, are already in recession. Political turmoil in Greece has increased the possibility that the country will leave the euro common currency, a move that would likely undermine investor confidence in the rest of Europe.

(story continues below)




Crude has sunk about 15 percent from $106 three weeks ago amid dimming global growth prospects and easing tensions over Iran's nuclear program.

Iran and six world powers ended talks Thursday without making any progress toward a deal, but agreed to continue meetings next month in Moscow. Crude rose to above $110 earlier this year as traders worried a pre-emptive military attack by the U.S. or Israel on Iran's nuclear facilities would disrupt global crude supplies.

"Data for the world's most important commodity consumer, China, point to signs of slowdown," Citigroup said in a report. "Easing geopolitical concerns have also weakened bullish sentiment."

In other energy trading, heating oil was down 0.3 cent at $2.82 per gallon and gasoline futures slid 0.4 cent at $2.82 per gallon. Natural gas gained 0.2 cent at $2.65 per 1,000 cubic feet.

Intellpuke: If the price of crude is declining, why isn't the price of gasoline/petrol declining at the pumps?

You can read this article by Associated Press writer Alex Kennedy, reporting from Singapore, in context here: www.guardian.co.uk/world/feedarticle/10258234


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