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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:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Sep 2, 2012 1:44:53 AM Ignore honda0105 Report Abuse crude may have dropped, but pump prices ain't following so much.
sparky808 Champion Author Honolulu Posts:2,993 Points:597,510 Joined:Sep 2011	Message Posted: Aug 30, 2012 7:20:21 AM Ignore sparky808 Report Abuse Thank you for posting.
blupupher Champion Author Houston Posts:3,545 Points:747,070 Joined:Feb 2011	Message Posted: Aug 30, 2012 2:54:00 AM Ignore blupupher Report Abuse but fuel prices willrise
bvrbill Champion Author Eugene Posts:3,207 Points:517,550 Joined:Jul 2011	Message Posted: Aug 29, 2012 6:16:02 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:1,485,690 Joined:May 2005	Message Posted: Aug 29, 2012 5:41:57 PM Ignore big_mac64 Report Abuse mumbo-jumbo...show me with lower prices!
clermont40miles Champion Author Cincinnati Posts:10,562 Points:1,770,920 Joined:Apr 2008	Message Posted: Aug 29, 2012 5:41:56 PM Ignore clermont40miles Report Abuse Brent sment. Go with WTI!
EVBuddy Champion Author Nevada Posts:16,685 Points:3,030,620 Joined:Sep 2004	Message Posted: Aug 29, 2012 5:40:01 PM Ignore EVBuddy Report Abuse Yes but labor Day Is Comming
fenster66 Champion Author Pittsburgh Posts:3,345 Points:673,115 Joined:May 2011	Message Posted: Aug 29, 2012 5:35:21 PM Ignore fenster66 Report Abuse lets see prices go down at the pump....
mstearno Champion Author Dayton Posts:8,061 Points:1,730,260 Joined:Jan 2008	Message Posted: Aug 29, 2012 5:35:15 PM Ignore mstearno Report Abuse lucky us
monarch57 Champion Author British Columbia Posts:1,625 Points:135,500 Joined:Nov 2008	Message Posted: Aug 29, 2012 5:33:28 PM Ignore monarch57 Report Abuse That's great news. Keeop going down to $60.
southrob Champion Author Tucson Posts:3,590 Points:686,225 Joined:Mar 2011	Message Posted: Aug 29, 2012 5:31:14 PM Ignore southrob Report Abuse everything makes it go up. dhan to make it go down
WIPACKERFAN Champion Author Chicago Posts:8,799 Points:1,842,475 Joined:Aug 2005	Message Posted: Aug 29, 2012 5:28:59 PM Ignore WIPACKERFAN Report Abuse OK
suicyco16 All-Star Author Phoenix Posts:576 Points:286,750 Joined:Jun 2012	Message Posted: Aug 29, 2012 5:22:46 PM Ignore suicyco16 Report Abuse how nice
Blue48 Champion Author Illinois Posts:7,300 Points:1,636,970 Joined:Feb 2007	Message Posted: Aug 29, 2012 5:21:56 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 5:18:35 PM Ignore mgune9 Report Abuse pump prices won't fall
camaro_man Champion Author Kitchener-Waterloo Posts:2,224 Points:609,685 Joined:Jun 2010	Message Posted: Aug 29, 2012 5:18:09 PM Ignore camaro_man Report Abuse wow
CobraJ All-Star Author Tampa Posts:999 Points:376,205 Joined:Mar 2011	Message Posted: Aug 29, 2012 5:16:04 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:3,029 Points:1,175,850 Joined:Aug 2008	Message Posted: Aug 29, 2012 5:15:41 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:5,559 Points:1,511,155 Joined:Oct 2008	Message Posted: Aug 29, 2012 5:14:39 PM Ignore serrog Report Abuse good news
aggietim Champion Author Fort Worth Posts:1,756 Points:693,325 Joined:Oct 2008	Message Posted: Aug 29, 2012 5:09:40 PM Ignore aggietim Report Abuse ok
justmedc Veteran Author Michigan Posts:382 Points:174,045 Joined:Mar 2012	Message Posted: Aug 29, 2012 5:07:09 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 5:01:37 PM Ignore jodybull Report Abuse So? No surprise to me.
Tekkersmom57 Champion Author Syracuse Posts:1,874 Points:700,215 Joined:May 2010	Message Posted: Aug 29, 2012 4:59:43 PM Ignore Tekkersmom57 Report Abuse You hit the nail right on the head, splitrman!
suzmar Champion Author Texas Posts:2,212 Points:871,865 Joined:Jun 2006	Message Posted: Aug 29, 2012 4:52:36 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 4:51:17 PM Ignore inspiretl Report Abuse gas prices went up again today.
bobdec Champion Author Miami Posts:8,959 Points:1,768,845 Joined:May 2008	Message Posted: Aug 29, 2012 4:50:38 PM Ignore bobdec Report Abuse Prices still rising here also
paulydel Champion Author Delaware Posts:8,779 Points:847,450 Joined:Jan 2008	Message Posted: Aug 29, 2012 4:50:31 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 4:47:10 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 4:45:25 PM Ignore brammage8 Report Abuse indeed
carman11 Champion Author North Carolina Posts:3,332 Points:690,750 Joined:Jun 2011	Message Posted: Aug 29, 2012 4:45:24 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 4:45:06 PM Ignore Romey08 Report Abuse waiting for gas prices to drop
Point__man Champion Author Raleigh Posts:4,330 Points:876,720 Joined:Oct 2010	Message Posted: Aug 29, 2012 4:43:31 PM Ignore Point__man Report Abuse $1 down today means how many $$$$ up tomorrow ;)
CAroadrunner101 Champion Author California Posts:1,822 Points:1,314,450 Joined:Mar 2009	Message Posted: Aug 29, 2012 4:41:08 PM Ignore CAroadrunner101 Report Abuse gas will still go up...
mrbee Champion Author Little Rock Posts:3,749 Points:2,464,855 Joined:Oct 2005	Message Posted: Aug 29, 2012 4:40:48 PM Ignore mrbee Report Abuse But the price jumped about 27c here this week.
kcboy Champion Author Utah Posts:3,963 Points:1,506,825 Joined:Jun 2005	Message Posted: Aug 29, 2012 4:40:02 PM Ignore kcboy Report Abuse Good
grammamNV Champion Author Nevada Posts:2,335 Points:372,425 Joined:Mar 2011	Message Posted: Aug 29, 2012 4:40:01 PM Ignore grammamNV Report Abuse so, will gas prices go down? or up?
BCweatherman Champion Author British Columbia Posts:1,072 Points:1,224,530 Joined:May 2009	Message Posted: Aug 29, 2012 4:39:18 PM Ignore BCweatherman Report Abuse good
abcdMA Champion Author Worcester Posts:7,917 Points:1,574,005 Joined:Nov 2008	Message Posted: Aug 29, 2012 4:39:03 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 4:37:02 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:1,013 Points:426,265 Joined:Apr 2011	Message Posted: Aug 29, 2012 4:31:38 PM Ignore Is246 Report Abuse Paying the profiteers!!!
dad2two Champion Author Dallas Posts:3,538 Points:749,420 Joined:May 2010	Message Posted: Aug 29, 2012 4:30:58 PM Ignore dad2two Report Abuse Crude should not have gone up on fears something might happen.
dacofa Champion Author Nevada Posts:5,373 Points:1,148,820 Joined:Jan 2010	Message Posted: Aug 29, 2012 4:25:36 PM Ignore dacofa Report Abuse For a few days at least.
TDIdave Champion Author California Posts:5,053 Points:1,223,765 Joined:May 2006	Message Posted: Aug 29, 2012 4:24:06 PM Ignore TDIdave Report Abuse Good.
Johnnyrebell12 Champion Author Massachusetts Posts:1,333 Points:1,423,025 Joined:Aug 2005	Message Posted: Aug 29, 2012 4:23:37 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:2,071 Points:1,664,595 Joined:Dec 2003	Message Posted: Aug 29, 2012 4:23:13 PM Ignore BMWer Report Abuse OK..but is the pump price also going to go down?
netman044 Champion Author Texas Posts:6,848 Points:1,288,275 Joined:Sep 2005	Message Posted: Aug 29, 2012 4:19:34 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:1,863 Points:1,233,660 Joined:May 2009	Message Posted: Aug 29, 2012 4:15:52 PM Ignore bginsj Report Abuse it could go down even more!!
MINIWINI598 Champion Author Washington Posts:3,012 Points:517,725 Joined:Dec 2011	Message Posted: Aug 29, 2012 4:15:46 PM Ignore MINIWINI598 Report Abuse ok
afghaned Champion Author Hamilton Posts:11,809 Points:1,284,710 Joined:May 2004	Message Posted: Aug 29, 2012 4:15:24 PM Ignore afghaned Report Abuse Great!!!
goodbuy Champion Author Michigan Posts:7,663 Points:1,421,005 Joined:May 2005	Message Posted: Aug 29, 2012 4:13:39 PM Ignore goodbuy Report Abuse So then we should see gas drop tomorrow