Savings Experiment: Snow Removal
Why Your 2012 Tax Bill May Jump By $8,000
Oil prices, which were up earlier in the session, have moved lower in afternoon trading after the dollar rebounded from earlier losses.Earlier in the session, the U.S. dollar had dropped as much as 0.3% against competing currencies, but reversed course and made back most of its losses. The greenback is now down just 0.1% on the day against competing currencies.
Oil prices had briefly moved higher earlier in the day after a bullish inventory report, but the bounce in the dollar has pushed oil prices lower, and is now down $2.27 on the day and approaching the psychological $70 barrier at $70.35. The precious crude hit a low on the day of $70.13 after hitting a high earlier in the session of $73.87.
Today's earlier move came after this week's inventory report from the Department of Energy which showed an unexpected 3.82 million barrel drop in oil inventories. Going into today's report analysts had been expecting to see an increase in oil supplies of 200,000 barrels.
Gasoline inventories on the other hand made a surprising jump last week, increasing by 2.25 million barrels, higher than the 1.6 million barrels that analyst had forecast.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
Reader Comments (Page 1 of 1)
12-09-2009 @ 4:43PM
john sellick said...
i live in good old nys and gasoline led by mobil is 2.89 a gallon and why.rep.higgins were are you.
12-09-2009 @ 5:52PM
dang1067 said...
HEADLINE: "Oil prices move lower as the dollar rebounds"
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
That's not the real reason oil been DIVING... Oil has been diving cause 1)- The U.S. Government has given the SHELL the green light to drill on Alaskan shores. 2)- U.S. are overloaded in oil supplies nearly swimming on it. We are soooooo over flooded with oil supplies that we can't find space on land to store them, forcing countless of oil filled super-tankers to be parked on U.S. sea shores. You want to know why we are so overwhelmed with crude supplies??? ANSWER: Because our thousand U.S. refineries "AREN'T" refining, and refusing to refine at their maximum refining capacities. And while all that are happening, oil producing countries continues to keep pumping and producing at consistent pace level while fuel usage demand around the globe continues to dive DEEPER!!! People around the globe have had enough of Wall Street ROBBING, and are more than determined now of being fuel FRUGAL, continue seeking ways to permanently BOYCOTT any crude based fuel... 3)- China is one great example who's now leading to transitioning their country into green technology having a solar power greater than the size of the entire state of Texas... Not only in solar but through wind and water power sources as well. And are determined to electrify all vehicles on their Chinese roads...