KBTX - Money - Headlines

Oil Prices Fall on Concerns About Slowing Economy

By: AP
Posted: Wed 10:06 AM, Aug 03, 2011

Oil prices are below $93 a barrel, as concerns persist about the
slowing global economy.

Benchmark West Texas Intermediate crude dropped $1.33 to $92.46
in Wednesday morning trading on the New York Mercantile Exchange.
In London, Brent crude lost $1.96 at $114.50 per barrel on the ICE
Futures exchange.

Investors are concerned about lagging consumer spending, weak
demand for oil and gas, and sovereign debt problems in Europe that
could spread.

Traders will look for more clues about demand later Wednesday
when the government releases its weekly inventory report.

Gas pump prices were virtually unchanged at a national average
of $3.701 a gallon. That's up less than a penny from a week ago,
but over 97 cents higher than a year ago.


We ask that the following Community Standards be followed:
  • Comments must not be profane or vulgar.
  • Comments must not use hate speech, racial slurs, or violent descriptions.
  • We encourage varying views to be shared. We do ask commenters to not personally attack other readers, groups, people featured in our stories, or other posters for disagreeing with their views.
  • Comments must not contain negative, comparative debates between community standards of cities or towns.
  • Comments must contribute to the discussion, flaming and/or trolling will not be tolerated.
  • Comments must be truthful and not intentionally falsified. Providing a source link is encouraged.

If you find that a comment violates the above rules, please use the flagging option located to the right of the comment to notify the moderators.
For a complete list of guidelines, please follow this link:
http://www.kbtx.com/home/misc/Online-Commenting-Policy-181579421.html
powered by Disqus
KBTX-TV Channel 3 4141 E. 29th Street Bryan, TX 77802 Phone: (979) 846-7777 Fax: (979) 846-1490 News Fax: (979) 846-1888
Gray Television, Inc. - Copyright © 2002-2013 - Designed by Gray Digital Media - Powered by Clickability
User Agent: CCBot/2.0 - 126667293