Falling Crude Oil Prices

Oil Prices Crude Oil Prices are now $20 less than record price set two weeks ago.

by Associated Press

Published: Wed, July 23, 2008 - 8:10 pm CST Last Updated: Wed, July 23, 2008 - 8:13 pm CST

Crude prices took another tumble. Light, sweet
crude for September delivery dropped $3.98 to settle at $124.44 a
barrel on the New York Mercantile (MUR'-kuhn-tyl) Exchange, crude's
lowest finish since June 4th.

Stock prices finished higher. The Dow added
about 30 points to 11,632. The S&P rose 5 points to 1,282 and the
Nasdaq surged about 22 points to 2,325.

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asda Says:

Thu, Jul 24, 2008 at 8:05 am

Tide Fan you are so right. If they would have said that the storm would interupt oil production the price would have shot up over night along with all the prices at the pump. It is crazy how if the price goes up 2 dollars a barrel it goes up 20 cents at the pump. but the price falls by 8 dollars and it goes down a penny.

Tide Fan Says:

Thu, Jul 24, 2008 at 7:35 am

What chaps my hide is when the oil executives start up woth the ole…price is dictated by supply and demand crapola…..Hogwash…Speculators dictate prices for oil…not supply and demand..All it takes is one positive comment..for example, earlier this week when they said that the storm would not effect supply lines in the gulf..the price of oil dropped $15….

mustuknow Says:

Thu, Jul 24, 2008 at 6:48 am

It’s about time however it won’t help the working stiff until they are flat on the back broke, everything they owned repossessed and they are on the street panhandling. What pisses me off about oil and gas prices the most is that Exxon and Chevron have been posting some of their highest quarterly profits in years…..