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Brent Down $1 as Hurricane Avoids Oil Platforms

Reuters -- North Sea Brent crude oil fell more than $1 per barrel on Wednesday as Hurricane Isaac, which hit land in Louisiana, left U.S. Gulf Coast oil production facilities without significant damage.

Worries about supply disruptions resulting from the hurricane pushed Brent to a high of $115.50 per barrel on Monday, while Nymex futures hit a peak of $97.72.

Brent crude oil futures for October [LCOCV1 112.03 -0.55 (-0.49%) ] were down 90 cents per barrel at $111.68 after hitting an intra-day low of $111.50.

U.S. light crude oil [CLCV1 95.56 -0.77 (-0.8%) ] was down 80 cents at $95.53.

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Submitted Aug 29, 2012 By: WxVette

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honda0105 Champion Author Tallahassee Posts:18,580 Points:1,605,520 Joined:Nov 2008	Message Posted: Sep 2, 2012 6:44:53 AM Ignore honda0105 Report Abuse crude may have dropped, but pump prices ain't following so much.
sparky808 Champion Author Honolulu Posts:2,981 Points:594,810 Joined:Sep 2011	Message Posted: Aug 30, 2012 12:20:21 PM Ignore sparky808 Report Abuse Thank you for posting.
blupupher Champion Author Houston Posts:3,528 Points:744,045 Joined:Feb 2011	Message Posted: Aug 30, 2012 7:54:00 AM Ignore blupupher Report Abuse but fuel prices willrise
bvrbill Champion Author Eugene Posts:3,193 Points:514,850 Joined:Jul 2011	Message Posted: Aug 29, 2012 11:16:02 PM Ignore bvrbill Report Abuse They will find a way to keep prices from falling at the pump.
big_mac64 Champion Author Tennessee Posts:10,593 Points:1,485,590 Joined:May 2005	Message Posted: Aug 29, 2012 10:41:57 PM Ignore big_mac64 Report Abuse mumbo-jumbo...show me with lower prices!
clermont40miles Champion Author Cincinnati Posts:10,548 Points:1,768,870 Joined:Apr 2008	Message Posted: Aug 29, 2012 10:41:56 PM Ignore clermont40miles Report Abuse Brent sment. Go with WTI!
EVBuddy Champion Author Nevada Posts:16,675 Points:3,028,670 Joined:Sep 2004	Message Posted: Aug 29, 2012 10:40:01 PM Ignore EVBuddy Report Abuse Yes but labor Day Is Comming
fenster66 Champion Author Pittsburgh Posts:3,330 Points:670,090 Joined:May 2011	Message Posted: Aug 29, 2012 10:35:21 PM Ignore fenster66 Report Abuse lets see prices go down at the pump....
mstearno Champion Author Dayton Posts:8,048 Points:1,728,210 Joined:Jan 2008	Message Posted: Aug 29, 2012 10:35:15 PM Ignore mstearno Report Abuse lucky us
monarch57 Champion Author British Columbia Posts:1,622 Points:135,165 Joined:Nov 2008	Message Posted: Aug 29, 2012 10:33:28 PM Ignore monarch57 Report Abuse That's great news. Keeop going down to $60.
southrob Champion Author Tucson Posts:3,585 Points:685,150 Joined:Mar 2011	Message Posted: Aug 29, 2012 10:31:14 PM Ignore southrob Report Abuse everything makes it go up. dhan to make it go down
WIPACKERFAN Champion Author Chicago Posts:8,784 Points:1,839,550 Joined:Aug 2005	Message Posted: Aug 29, 2012 10:28:59 PM Ignore WIPACKERFAN Report Abuse OK
suicyco16 All-Star Author Phoenix Posts:576 Points:284,375 Joined:Jun 2012	Message Posted: Aug 29, 2012 10:22:46 PM Ignore suicyco16 Report Abuse how nice
Blue48 Champion Author Illinois Posts:7,290 Points:1,634,920 Joined:Feb 2007	Message Posted: Aug 29, 2012 10:21:56 PM Ignore Blue48 Report Abuse UP..DOWN..UP..DOWN!
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Aug 29, 2012 10:18:35 PM Ignore mgune9 Report Abuse pump prices won't fall
camaro_man Champion Author Kitchener-Waterloo Posts:2,215 Points:607,330 Joined:Jun 2010	Message Posted: Aug 29, 2012 10:18:09 PM Ignore camaro_man Report Abuse wow
CobraJ All-Star Author Tampa Posts:998 Points:376,085 Joined:Mar 2011	Message Posted: Aug 29, 2012 10:16:04 PM Ignore CobraJ Report Abuse Ooh! A big $1 Eh! Yeah. Tomorrow, speculators will shoot it up $10 upon news that a tanker spills few thousand gallons of oil.
MacDad614 Champion Author Atlanta Posts:3,022 Points:1,173,460 Joined:Aug 2008	Message Posted: Aug 29, 2012 10:15:41 PM Ignore MacDad614 Report Abuse So oil prices decreased and gasoline prices in Atlanta spiked from $3.69 to $3.94 - GREEDY Esso-Bees. Big oil is like Pfizer, jacking their prices because they were losing money.
serrog Champion Author Nova Scotia Posts:5,549 Points:1,509,205 Joined:Oct 2008	Message Posted: Aug 29, 2012 10:14:39 PM Ignore serrog Report Abuse good news
aggietim Champion Author Fort Worth Posts:1,751 Points:691,350 Joined:Oct 2008	Message Posted: Aug 29, 2012 10:09:40 PM Ignore aggietim Report Abuse ok
justmedc Veteran Author Michigan Posts:382 Points:174,045 Joined:Mar 2012	Message Posted: Aug 29, 2012 10:07:09 PM Ignore justmedc Report Abuse what is really dumb about all this is gas in MI went up over 30 cents (they are blaming the Issac. yet my friend near Pensecola said gas only went up there about 5 cents. does not make any sense!!! but then i guess i wasn't really expecting it to.
jodybull All-Star Author El Paso Posts:767 Points:140,880 Joined:May 2012	Message Posted: Aug 29, 2012 10:01:37 PM Ignore jodybull Report Abuse So? No surprise to me.
Tekkersmom57 Champion Author Syracuse Posts:1,859 Points:697,640 Joined:May 2010	Message Posted: Aug 29, 2012 9:59:43 PM Ignore Tekkersmom57 Report Abuse You hit the nail right on the head, splitrman!
suzmar Champion Author Texas Posts:2,210 Points:869,225 Joined:Jun 2006	Message Posted: Aug 29, 2012 9:52:36 PM Ignore suzmar Report Abuse The rise was all speculation that something might go wrong.
inspiretl Veteran Author New Jersey Posts:417 Points:165,480 Joined:May 2012	Message Posted: Aug 29, 2012 9:51:17 PM Ignore inspiretl Report Abuse gas prices went up again today.
bobdec Champion Author Miami Posts:8,949 Points:1,766,795 Joined:May 2008	Message Posted: Aug 29, 2012 9:50:38 PM Ignore bobdec Report Abuse Prices still rising here also
paulydel Champion Author Delaware Posts:8,769 Points:846,150 Joined:Jan 2008	Message Posted: Aug 29, 2012 9:50:31 PM Ignore paulydel Report Abuse Gas should be a dollar or less a gallon.
hauler43 Champion Author Oakland Posts:8,158 Points:2,597,750 Joined:Sep 2003	Message Posted: Aug 29, 2012 9:47:10 PM Ignore hauler43 Report Abuse Gas prices are up a few pennies here
brammage8 Rookie Author Illinois Posts:94 Points:49,905 Joined:Jun 2012	Message Posted: Aug 29, 2012 9:45:25 PM Ignore brammage8 Report Abuse indeed
carman11 Champion Author North Carolina Posts:3,314 Points:688,475 Joined:Jun 2011	Message Posted: Aug 29, 2012 9:45:24 PM Ignore carman11 Report Abuse OK
Romey08 Champion Author Virginia Posts:6,311 Points:1,436,490 Joined:Apr 2008	Message Posted: Aug 29, 2012 9:45:06 PM Ignore Romey08 Report Abuse waiting for gas prices to drop
Point__man Champion Author Raleigh Posts:4,315 Points:873,695 Joined:Oct 2010	Message Posted: Aug 29, 2012 9:43:31 PM Ignore Point__man Report Abuse $1 down today means how many $$$$ up tomorrow ;)
CAroadrunner101 Champion Author California Posts:1,807 Points:1,312,175 Joined:Mar 2009	Message Posted: Aug 29, 2012 9:41:08 PM Ignore CAroadrunner101 Report Abuse gas will still go up...
mrbee Champion Author Little Rock Posts:3,738 Points:2,462,585 Joined:Oct 2005	Message Posted: Aug 29, 2012 9:40:48 PM Ignore mrbee Report Abuse But the price jumped about 27c here this week.
kcboy Champion Author Utah Posts:3,953 Points:1,504,775 Joined:Jun 2005	Message Posted: Aug 29, 2012 9:40:02 PM Ignore kcboy Report Abuse Good
grammamNV Champion Author Nevada Posts:2,335 Points:372,425 Joined:Mar 2011	Message Posted: Aug 29, 2012 9:40:01 PM Ignore grammamNV Report Abuse so, will gas prices go down? or up?
BCweatherman Champion Author British Columbia Posts:1,070 Points:1,222,065 Joined:May 2009	Message Posted: Aug 29, 2012 9:39:18 PM Ignore BCweatherman Report Abuse good
abcdMA Champion Author Worcester Posts:7,907 Points:1,571,955 Joined:Nov 2008	Message Posted: Aug 29, 2012 9:39:03 PM Ignore abcdMA Report Abuse this issue is far from finished yet due to the flooding
justmedc Veteran Author Michigan Posts:382 Points:174,045 Joined:Mar 2012	Message Posted: Aug 29, 2012 9:37:02 PM Ignore justmedc Report Abuse and yet gas has not gone down here, and some stations even went up again today, yippee!!!!!!!!!!!
Is246 Champion Author Albuquerque Posts:1,007 Points:425,045 Joined:Apr 2011	Message Posted: Aug 29, 2012 9:31:38 PM Ignore Is246 Report Abuse Paying the profiteers!!!
dad2two Champion Author Dallas Posts:3,525 Points:746,620 Joined:May 2010	Message Posted: Aug 29, 2012 9:30:58 PM Ignore dad2two Report Abuse Crude should not have gone up on fears something might happen.
dacofa Champion Author Nevada Posts:5,367 Points:1,145,975 Joined:Jan 2010	Message Posted: Aug 29, 2012 9:25:36 PM Ignore dacofa Report Abuse For a few days at least.
TDIdave Champion Author California Posts:5,043 Points:1,221,715 Joined:May 2006	Message Posted: Aug 29, 2012 9:24:06 PM Ignore TDIdave Report Abuse Good.
Johnnyrebell12 Champion Author Massachusetts Posts:1,333 Points:1,421,475 Joined:Aug 2005	Message Posted: Aug 29, 2012 9:23:37 PM Ignore Johnnyrebell12 Report Abuse So Brent went down a dollar, so what? The big guys aren't going to loose any sleep over it and the consumer isn't going to save anything at the pumps, so what do I care about Brent going down a dollar
BMWer Champion Author Calgary Posts:2,066 Points:1,662,020 Joined:Dec 2003	Message Posted: Aug 29, 2012 9:23:13 PM Ignore BMWer Report Abuse OK..but is the pump price also going to go down?
netman044 Champion Author Texas Posts:6,848 Points:1,287,525 Joined:Sep 2005	Message Posted: Aug 29, 2012 9:19:34 PM Ignore netman044 Report Abuse It not only could it should go down more. Instead of waiting to see if the hurricane was going to hit Gulf production, prices started going up on the possibility that it would.
bginsj Champion Author San Jose Posts:1,853 Points:1,231,610 Joined:May 2009	Message Posted: Aug 29, 2012 9:15:52 PM Ignore bginsj Report Abuse it could go down even more!!
MINIWINI598 Champion Author Washington Posts:3,002 Points:515,775 Joined:Dec 2011	Message Posted: Aug 29, 2012 9:15:46 PM Ignore MINIWINI598 Report Abuse ok
afghaned Champion Author Hamilton Posts:11,798 Points:1,282,460 Joined:May 2004	Message Posted: Aug 29, 2012 9:15:24 PM Ignore afghaned Report Abuse Great!!!
goodbuy Champion Author Michigan Posts:7,648 Points:1,419,180 Joined:May 2005	Message Posted: Aug 29, 2012 9:13:39 PM Ignore goodbuy Report Abuse So then we should see gas drop tomorrow