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Oil near $120, edges up from two-month low

Reuters -- Oil edged higher to around $120 a barrel on Wednesday, after falling to its lowest level in almost two months, supported by increased investor appetite for riskier assets that also led to gains in equities and the euro.

Brent crude posted its biggest one-day drop this year on Tuesday as part of a sell-off in commodities and equities. On Wednesday, European shares rallied, other commodities such as copper steadied and the dollar fell.

North Sea Brent was up 15 cents at $120.03 a barrel by 1104 GMT, after falling as low as $119.05, the lowest since February 17.

Its 2.27 percent slide on Tuesday was the biggest one-day percentage loss since December 14. U.S. crude was up 61 cents to $101.63.

"Yesterday's sell-off was prompted by an increased risk aversion," said Carsten Fritsch, a

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Submitted Apr 11, 2012 By: WxVette

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REPLIES (newest first)Ignore Short Messages

remay Champion Author Houston Posts:6,978 Points:2,119,565 Joined:May 2006	Message Posted: Apr 12, 2012 5:33:03 AM Ignore remay Report Abuse snapshot article on price of oil.
52MPG Champion Author Dayton Posts:7,277 Points:1,744,630 Joined:Apr 2006	Message Posted: Apr 11, 2012 9:08:57 PM Ignore 52MPG Report Abuse 15 cents compared to $120.03 is nothing.
dunedate All-Star Author California Posts:900 Points:147,030 Joined:Jan 2010	Message Posted: Apr 11, 2012 9:15:39 AM Ignore dunedate Report Abuse Why
memo81 Champion Author St. Louis Posts:2,358 Points:446,450 Joined:Feb 2012	Message Posted: Apr 11, 2012 7:02:52 AM Ignore memo81 Report Abuse Keep dropping!
humblepie Champion Author Toledo Posts:34,304 Points:2,373,320 Joined:Mar 2006	Message Posted: Apr 11, 2012 6:47:26 AM Ignore humblepie Report Abuse good thing we dont use brent
gs7101 Champion Author San Antonio Posts:5,533 Points:389,120 Joined:Jun 2009	Message Posted: Apr 11, 2012 6:38:48 AM Ignore gs7101 Report Abuse It's time to turn it around -- enough already!
jen11486 Rookie Author Ohio Posts:30 Points:4,720 Joined:Mar 2009	Message Posted: Apr 11, 2012 6:28:21 AM Ignore jen11486 Report Abuse $$
roadrunnin Champion Author Richmond Posts:1,760 Points:566,955 Joined:May 2008	Message Posted: Apr 11, 2012 6:26:10 AM Ignore roadrunnin Report Abuse there is a huge disconnect between the cost of a barrel of oil and the high prices we end up paying at the pump. Yesterday's news said oil was heading down, today's news says it's heading up, really don't know, but either way US gas prices are steadily rising
TruthMatters Champion Author New Jersey Posts:2,525 Points:535,710 Joined:Oct 2011	Message Posted: Apr 11, 2012 6:22:44 AM Ignore TruthMatters Report Abuse Hopefully oil prices have peaked - as the other article posted earlier today says.
dal1 Champion Author Illinois Posts:1,183 Points:147,165 Joined:Jun 2007	Message Posted: Apr 11, 2012 6:08:18 AM Ignore dal1 Report Abuse good question!
mike1881 Champion Author Fayetteville Posts:1,306 Points:566,375 Joined:Feb 2011	Message Posted: Apr 11, 2012 5:55:20 AM Ignore mike1881 Report Abuse How can gas prices keep going up, but yet oil is fluctuating.
JamesCalvin Champion Author Lancaster Posts:3,196 Points:521,505 Joined:Nov 2011	Message Posted: Apr 11, 2012 5:45:19 AM Ignore JamesCalvin Report Abuse Just yesterday there was an article posted that said oil was edging down to near $100 per barrel? O, I forgot. Global climate change causes global crude oil price fluctuations.
amoshins Champion Author Trenton Posts:2,205 Points:643,595 Joined:Apr 2011	Message Posted: Apr 11, 2012 5:44:13 AM Ignore amoshins Report Abuse Keeps "edging up"
LanguageMan1 Champion Author Tampa Posts:11,733 Points:1,663,740 Joined:Apr 2008	Message Posted: Apr 11, 2012 5:33:53 AM Ignore LanguageMan1 Report Abuse No need for those trying to get oil higher, it's going to happen soon enough. It will be back up to it's highs of this year already and will go higher still.
Evilmaddog Champion Author British Columbia Posts:3,332 Points:959,500 Joined:Aug 2010	Message Posted: Apr 11, 2012 5:26:47 AM Ignore Evilmaddog Report Abuse $$$$$$
lcleveland Champion Author San Antonio Posts:2,671 Points:653,000 Joined:May 2011	Message Posted: Apr 11, 2012 5:19:19 AM Ignore lcleveland Report Abuse as usual it goes up
dgerst Champion Author South Carolina Posts:2,721 Points:557,975 Joined:Aug 2008	Message Posted: Apr 11, 2012 5:16:07 AM Ignore dgerst Report Abuse Hope this is the end of the run-up in gas prices.
doeslayersr Champion Author Illinois Posts:9,127 Points:873,955 Joined:Dec 2010	Message Posted: Apr 11, 2012 5:15:47 AM Ignore doeslayersr Report Abuse Well that did not take long.