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Author	Topic: Oil Prices Fall as Greece Worries Spook Investors	Post a Reply Back to Topics

WxVette Rookie Author Omaha Posts:34 Points:1,012,455 Joined:Jul 2007	Message Posted: May 16, 2012 8:14:04 AM Ignore WxVette Report Abuse Oil prices slid with world shares and the euro on Wednesday as investors fretted about ths political situation in Greece and fled from riskier assets. The possibility a political crisis in Greece may force the country's exit from the euro zone and send the region into deeper financial turmoil is fanning concerns about a slowdown in global demand for oil. "One element contributing to the decline in oil prices is general investor risk aversion stemming from euro zone concerns and an increased risk of a general economic slowdown," said Gareth Lewis-Davies, a senior energy strategist at BNP Paribas. It has also helped send the euro to a four-month low against the dollar, another factor weighing on oil prices on Wednesday. "Another is the strength of the dollar flight to safety. Visit Reuters for full article

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Oil prices slid with world shares and the euro on Wednesday as investors fretted about ths political situation in Greece and fled from riskier assets.

The possibility a political crisis in Greece may force the country's exit from the euro zone and send the region into deeper financial turmoil is fanning concerns about a slowdown in global demand for oil.

"One element contributing to the decline in oil prices is general investor risk aversion stemming from euro zone concerns and an increased risk of a general economic slowdown," said Gareth Lewis-Davies, a senior energy strategist at BNP Paribas.

It has also helped send the euro to a four-month low against the dollar, another factor weighing on oil prices on Wednesday.

"Another is the strength of the dollar flight to safety.
Visit Reuters for full article

REPLIES (newest first)Ignore Short Messages

leraar2 Champion Author Massachusetts Posts:3,759 Points:786,705 Joined:Mar 2011	Message Posted: May 17, 2012 12:35:29 AM Ignore leraar2 Report Abuse SPECULATORS.
esq262 Champion Author Asheville Posts:2,892 Points:647,290 Joined:Jul 2011	Message Posted: May 16, 2012 8:48:38 PM Ignore esq262 Report Abuse Greece spooks me.
Grizdad Champion Author San Bernardino Posts:5,525 Points:782,450 Joined:Oct 2010	Message Posted: May 16, 2012 6:35:42 PM Ignore Grizdad Report Abuse Greece is coming to the USA if we are not careful!
ObieDog Champion Author Maryland Posts:1,961 Points:850,620 Joined:Sep 2010	Message Posted: May 16, 2012 3:46:49 PM Ignore ObieDog Report Abuse Let's see the 80's by the weekend.
mike1881 Champion Author Fayetteville Posts:1,290 Points:563,450 Joined:Feb 2011	Message Posted: May 16, 2012 1:27:01 PM Ignore mike1881 Report Abuse Keep on coming down
Jeff4U Champion Author Atlanta Posts:8,749 Points:1,851,395 Joined:Nov 2004	Message Posted: May 16, 2012 1:16:03 PM Ignore Jeff4U Report Abuse fall Baby fall! Crude is now at $93.17
deputydog082 Champion Author Detroit Posts:1,781 Points:659,365 Joined:Apr 2011	Message Posted: May 16, 2012 12:23:01 PM Ignore deputydog082 Report Abuse keep dropping!
investmentdr Champion Author Cleveland Posts:4,024 Points:1,454,075 Joined:Sep 2008	Message Posted: May 16, 2012 12:01:28 PM Ignore investmentdr Report Abuse it's funny how no one is blaming speculators when prices fall
investmentdr Champion Author Cleveland Posts:4,024 Points:1,454,075 Joined:Sep 2008	Message Posted: May 16, 2012 11:59:52 AM Ignore investmentdr Report Abuse still right direction
rjojo40 Champion Author Las Vegas Posts:7,367 Points:1,073,895 Joined:Feb 2004	Message Posted: May 16, 2012 11:43:15 AM Ignore rjojo40 Report Abuse Greece needs to get it together.
doctorindyj Champion Author Santa Fe Posts:3,448 Points:838,835 Joined:Nov 2009	Message Posted: May 16, 2012 10:50:22 AM Ignore doctorindyj Report Abuse Well as we all know it isn't Greece, it's our wonderful regime that is causing prices to fall. At least that's what they'll tell us but we all know that the president has no control over gas prices. Greece is an object lesson that no one is paying attention to. They have basically been told to cut spending or lose everything. Their response? Elect neo-nazis who promised to not cut spending. Anything to keep from losing their freebies.
Moumoom Veteran Author Toronto Posts:320 Points:398,125 Joined:Mar 2011	Message Posted: May 16, 2012 10:28:57 AM Ignore Moumoom Report Abuse The whole Euro zone is going to get worse before it gets better. The EU wanted to form so they could be competitive with the US, who they reasoned, had similar population numbers... "the United States of Europe" as they used to say. Thing is, they were never "united" because they're "different" countries and cultures and that was not going to change just for smoothing out economies. Expect more turbulence from the whole zone that didn't realize that the world economic power shifted eastward.
fracknsave Champion Author Grand Rapids Posts:1,666 Points:58,000 Joined:Mar 2012	Message Posted: May 16, 2012 9:44:19 AM Ignore fracknsave Report Abuse Greece is determined to wage war on the Euro, they will lose and return to the drachma with much ado and uncertainty to the financial markets as others ponder the same path.
Wanda127 Champion Author Florida Posts:2,494 Points:914,030 Joined:May 2010	Message Posted: May 16, 2012 9:37:10 AM Ignore Wanda127 Report Abuse I want our fuel prices to keep falling but really hope Greece can recover.
qwerty17 Champion Author New Jersey Posts:3,645 Points:1,116,550 Joined:Oct 2009	Message Posted: May 16, 2012 9:34:50 AM Ignore qwerty17 Report Abuse spook the speculators.
dorisntx Champion Author Fort Worth Posts:2,079 Points:644,355 Joined:Apr 2011	Message Posted: May 16, 2012 9:26:01 AM Ignore dorisntx Report Abuse ok
Goatroper Champion Author Dallas Posts:6,594 Points:1,293,485 Joined:Apr 2004	Message Posted: May 16, 2012 9:25:40 AM Ignore Goatroper Report Abuse I heard that there is/was a run on the banks to stock up on Euros, just in case Greece decides to issue their own worthless currency
TripleHs Champion Author Austin Posts:3,355 Points:915,740 Joined:Oct 2009	Message Posted: May 16, 2012 9:06:12 AM Ignore TripleHs Report Abuse keep going lower
EricBrazil Champion Author Miami Posts:2,127 Points:470,525 Joined:Nov 2011	Message Posted: May 16, 2012 8:44:44 AM Ignore EricBrazil Report Abuse The Greek crisis has been in the headlines for over a year. Factored in yet? Maybe its something else!
drpepperTX Champion Author Texas Posts:8,939 Points:751,985 Joined:Apr 2011	Message Posted: May 16, 2012 8:29:17 AM Ignore drpepperTX Report Abuse NATURAL GAS FUTR (USD/MMBTU) 2.53 +0.03 (1.56%) 08:15 ET GASOLINE RBOB FUT (USD/GAL.) 293.44 -0.97 (-0.33%) 08:15 ET WTI CRUDE FUTURE (USD/BBL.) 92.94 -1.04 (-1.11%) 08:14 ET
scu227 Champion Author New Haven Posts:4,147 Points:770,905 Joined:Feb 2011	Message Posted: May 16, 2012 8:28:20 AM Ignore scu227 Report Abuse It's all speculation !!!
grandpadon28110 Champion Author Charlotte Posts:4,711 Points:1,141,335 Joined:Sep 2008	Message Posted: May 16, 2012 8:19:07 AM Ignore grandpadon28110 Report Abuse When this is solved there will be something else.
Ouch06 Champion Author Michigan Posts:1,611 Points:1,430,440 Joined:Apr 2006	Message Posted: May 16, 2012 8:16:46 AM Ignore Ouch06 Report Abuse Gas prices not falling here.
memo81 Champion Author St. Louis Posts:2,343 Points:443,525 Joined:Feb 2012	Message Posted: May 16, 2012 8:15:21 AM Ignore memo81 Report Abuse Lets keep the prices falling, but I cant help but wonder how this Greek crisis will affect our financial system.