Crude oil falls more than $3

The selloff came after the International Energy Agency lowered its estimate for worldwide oil demand. Also pushing down crude prices Tuesday: a key OPEC member left open the possibility that the oil cartel will increase output to curb rising prices. Anytime Saudi Arabia's oil minister makes such a pronouncement, it has an immediate impact in the NYMEX trading pits. Jon Decker reports.

Category:

News & Politics

Tags:

• IEA
• Oil
• Crude
• OPECS
• Saudi
• Arabia
• Cartel

[jjcjammer]

@ 1.85 a gallon, I can afford it bitch!!!!

[wildfratto]

@jjcjammer $4?

[circusboy90210]

@GeoffBond007 increasing the money supplie does not automatically provide for inflation, when the money is lent to creditors it becomes real through sweat equity . what also detracts from the us dollar being the cause is that most world transactions are made in us dollars. this further creates value to the dollar. however I do concende that the fed can play a small role in these processese

[GeoffBond007]

@circusboy90210 Prices are moderate by the Federal Reserve printing USD with madnnes,

[circusboy90210]

@ohhimelectrikk prices are moderated by futures traders not any real supply or demand, when prices shoot so sky high that a society cannot afford to pay for it , then reserves are called out to fullfill enough demand that the slaves of opec can continue to feed their gluttony. this willl also spur further new research into undeiscovered fields to satsify the worlds' greedy invesotrs. high prices can be good they insure a long term supply.

[ohhimelectrikk]

you'll start caring when you cant afford to pay for gas stop being ignorant

[dave98503]

Who gives a flying rats ass.