New Hampshire Classifieds

GasBuddy News Article

votes

Oil higher as stocks rise, Europe worries ease

Associated Press -- NEW YORK (AP) -- Oil prices followed stocks higher on Wednesday, as worries about European debt problems eased and buyers returned to the market.

Benchmark crude for October delivery rose 58 cents to settle at $74.67 a barrel on the New York Mercantile Exchange.

At the pump, gasoline prices inched down to a national average of $2.68 a gallon, according to AAA, Wright Express and Oil Price Information Service. That's about the same as a week ago and 10.2 cents above a year ago.

Shares of oil and gas companies climbed after Fitch raised its rating on BP. The troubled energy giant issued a report Wednesday taking blame for the big spill in the Gulf of Mexico, while saying other companies involved in the Deepwater Horizon disaster shared some blame. BP shares rose $1.18, or 3.2 percen

Read the Full Article

Submitted Sep 08, 2010 By: suportoffroad30

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Oil higher as stocks rise, Europe worries ease	Post a Reply Back to Topics

REPLIES (newest first)

JimTee Champion Author Tampa Posts:2,322 Points:1,190,950 Joined:Apr 2006	Message Posted: Sep 9, 2010 10:12:22 AM Ignore JimTee Report Abuse Oil prices are like a roller coaster.
Night Owl Champion Author Toronto Posts:5,280 Points:1,335,675 Joined:Jul 2004	Message Posted: Sep 9, 2010 9:51:57 AM Ignore Night Owl Report Abuse Greedy oil speculators are back to work.
silverfox63 Champion Author Michigan Posts:5,814 Points:1,157,720 Joined:Oct 2008	Message Posted: Sep 9, 2010 7:18:33 AM Ignore silverfox63 Report Abuse Just another reason to raise prices again.
ENORMS Champion Author Colorado Posts:3,014 Points:1,174,060 Joined:Sep 2006	Message Posted: Sep 9, 2010 7:00:08 AM Ignore ENORMS Report Abuse Blame the speculators!!
PDQBlues Champion Author San Diego Posts:4,716 Points:982,400 Joined:Jan 2009	Message Posted: Sep 9, 2010 12:57:14 AM Ignore PDQBlues Report Abuse The rising cost of gas will help halt any economic recovery. That'll get Europe worrying again!
Huskersed All-Star Author Atlanta Posts:703 Points:337,950 Joined:Nov 2008	Message Posted: Sep 9, 2010 12:33:58 AM Ignore Huskersed Report Abuse Seems like BP still making tons of money after paying the settlement.
CruisinLinda Champion Author Tallahassee Posts:7,947 Points:1,621,420 Joined:Sep 2005	Message Posted: Sep 8, 2010 11:48:50 PM Ignore CruisinLinda Report Abuse Writes good report sharing blame, and your valuation goes up, BP finds. Take your choice: low-priced stocks and oil or the reverse.
troy272 Rookie Author South Carolina Posts:6 Points:8,370 Joined:Jul 2008	Message Posted: Sep 8, 2010 11:05:39 PM Ignore troy272 Report Abuse Of course.... ANOTHER reason to drive oil up again. Seems to be completely unrelated to what WE as the consumer are experiencing. Just because some traders are scared of European debt, us average hard working Americans are going to have to pay a little more for gasoline? of course, I bet these traders on NYMEX don't even drive to work in their own cars or have to worry about gas money. There seems to be a real disconnect between the real world and the trading floor.
afghaned Champion Author Hamilton Posts:8,517 Points:823,500 Joined:May 2004	Message Posted: Sep 8, 2010 8:10:48 PM Ignore afghaned Report Abuse We'll probably have higher pump prices in my area again tomorrow.
BigDNC Rookie Author North Carolina Posts:56 Points:33,050 Joined:Aug 2010	Message Posted: Sep 8, 2010 6:57:17 PM Ignore BigDNC Report Abuse What is irritating about this is the oil companies effort to portray a sense of being powerless over pricing. They set the pricing, OPEC reduces production to set their pricing. They have nothing but power and we all allow them to have it. Our government allowed companies like BP fee free rights to drill off our coast then they turn around and inflate prices on taxpayers.
amerk73 Champion Author Dallas Posts:4,720 Points:1,158,180 Joined:Oct 2008	Message Posted: Sep 8, 2010 5:07:33 PM Ignore amerk73 Report Abuse now at $74.58
suportoffroad00 All-Star Author Wisconsin Posts:770 Points:910,260 Joined:Aug 2007	Message Posted: Sep 8, 2010 4:35:30 PM Ignore suportoffroad00 Report Abuse yoyo effect!
suportoffroad00 All-Star Author Wisconsin Posts:770 Points:910,260 Joined:Aug 2007	Message Posted: Sep 8, 2010 4:35:10 PM Ignore suportoffroad00 Report Abuse Here we go again