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GasBuddy News Article

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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
Category: Daily News Article Discussions > Topics Add to favorite topics  
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REPLIES (newest first) Post a Reply
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remay
Champion Author Houston

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Message Posted: Apr 12, 2012 5:33:03 AM

snapshot article on price of oil.
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52MPG
Champion Author Dayton

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Message Posted: Apr 11, 2012 9:08:57 PM

15 cents compared to $120.03 is nothing.
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dunedate
Champion Author California

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Message Posted: Apr 11, 2012 9:15:39 AM

Why
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memo81
Champion Author St. Louis

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Message Posted: Apr 11, 2012 7:02:52 AM

Keep dropping!
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humblepie
Champion Author Toledo

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Message Posted: Apr 11, 2012 6:47:26 AM

good thing we dont use brent
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gs7101
Champion Author San Antonio

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Message Posted: Apr 11, 2012 6:38:48 AM

It's time to turn it around -- enough already!
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jen11486
Rookie Author Ohio

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Message Posted: Apr 11, 2012 6:28:21 AM

$$
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roadrunnin
Champion Author Richmond

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Message Posted: Apr 11, 2012 6:26:10 AM

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
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TruthMatters
Champion Author New Jersey

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Message Posted: Apr 11, 2012 6:22:44 AM

Hopefully oil prices have peaked - as the other article posted earlier today says.
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dal1
Champion Author Illinois

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Message Posted: Apr 11, 2012 6:08:18 AM

good question!
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mike1881
Champion Author Fayetteville

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Message Posted: Apr 11, 2012 5:55:20 AM

How can gas prices keep going up, but yet oil is fluctuating.
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JamesCalvin
Champion Author Lancaster

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Message Posted: Apr 11, 2012 5:45:19 AM

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.

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amoshins
Champion Author Trenton

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Message Posted: Apr 11, 2012 5:44:13 AM

Keeps "edging up"
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LanguageMan1
Champion Author Tampa

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Message Posted: Apr 11, 2012 5:33:53 AM

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.
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Evilmaddog
Champion Author British Columbia

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Message Posted: Apr 11, 2012 5:26:47 AM

$$$$$$
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lcleveland
Champion Author San Antonio

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Message Posted: Apr 11, 2012 5:19:19 AM

as usual it goes up
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dgerst
Champion Author South Carolina

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Message Posted: Apr 11, 2012 5:16:07 AM

Hope this is the end of the run-up in gas prices.
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doeslayersr
Champion Author Illinois

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Message Posted: Apr 11, 2012 5:15:47 AM

Well that did not take long.
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