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Oil falls on weak China manufacturing

AP -- BANGKOK (AP) -- Oil prices fell Monday after weaker-than-expected manufacturing data from China intensified concerns about the global economy.

Benchmark oil for October delivery was down 17 cents at $96.30 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose $1.85 to finish at $96.47 per barrel Friday in New York.

Brent crude for October delivery was up 12 cents to $114.69 on the ICE Futures exchange in London.

A report released Saturday by the state-authorized China Federation of Logistics and Purchasing said its purchasing managers' index, a measure of manufacturing activity, fell to 49.2 in August from July's 50.1. Numbers below 50 indicate activity is contracting.

That was a nine-month low, according to analysts at

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Submitted Sep 03, 2012 By: mastermariner

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honda0105 Champion Author Tallahassee Posts:18,580 Points:1,605,520 Joined:Nov 2008	Message Posted: Sep 6, 2012 12:26:01 AM Ignore honda0105 Report Abuse time will tell.
honda0105 Champion Author Tallahassee Posts:18,580 Points:1,605,520 Joined:Nov 2008	Message Posted: Sep 5, 2012 12:09:05 AM Ignore honda0105 Report Abuse not necessarily so good for the US in the long run.
eomc17 Champion Author Tucson Posts:1,822 Points:134,145 Joined:Mar 2007	Message Posted: Sep 4, 2012 4:26:08 AM Ignore eomc17 Report Abuse 17 cents is not much of a "fall", is just a drop in a bucket. But I expect oil and gas will be higher tomorrow, for whatever excuse the speculators can manufacture to empty our pockets for vastly overpriced oil and gasoline futures. And our president will not "reign in speculators", is just another lie of many this con man has told us he would do to help us over the past four years. I heard him twice on national TV THIS YEAR, "I call on Congress to reign in speculators". haha. sure...whatever... Obama, can you ever tell your people something truthful or just SHUT UP if you can't tell us the truth.
scu227 Champion Author New Haven Posts:4,125 Points:766,905 Joined:Feb 2011	Message Posted: Sep 4, 2012 12:43:31 AM Ignore scu227 Report Abuse Did someone forget to tell the speculators, I see oil futures are UP almost $2.00/barrel and gas .06/gal.
naiiawah Champion Author Boise Posts:2,370 Points:685,100 Joined:Mar 2011	Message Posted: Sep 4, 2012 12:37:26 AM Ignore naiiawah Report Abuse Like it will matter at the pump though.
Digger52 Champion Author Chicago Posts:2,382 Points:843,960 Joined:Aug 2008	Message Posted: Sep 3, 2012 10:05:01 PM Ignore Digger52 Report Abuse OK
Volvodude04 Champion Author Fresno Posts:2,284 Points:268,925 Joined:Aug 2012	Message Posted: Sep 3, 2012 9:16:55 PM Ignore Volvodude04 Report Abuse Staying the same in California.
Jeff1944 Champion Author South Dakota Posts:4,212 Points:1,069,730 Joined:Jan 2010	Message Posted: Sep 3, 2012 7:21:06 PM Ignore Jeff1944 Report Abuse Good news that somewhere other than in Western South Dakota the prices are falling.
DeeLA Champion Author Los Angeles Posts:4,792 Points:1,360,355 Joined:Nov 2008	Message Posted: Sep 3, 2012 6:48:26 PM Ignore DeeLA Report Abuse Prices are rising again in this area.
ktbaeohana Champion Author Las Vegas Posts:2,291 Points:419,725 Joined:Mar 2010	Message Posted: Sep 3, 2012 6:20:18 PM Ignore ktbaeohana Report Abuse watch and see.
Tehbob Champion Author California Posts:2,271 Points:452,630 Joined:Jan 2012	Message Posted: Sep 3, 2012 5:22:57 PM Ignore Tehbob Report Abuse hmmm
comprof Champion Author Houston Posts:6,839 Points:1,352,750 Joined:Jul 2009	Message Posted: Sep 3, 2012 4:16:08 PM Ignore comprof Report Abuse 49.2 PMI - America wishes it could be so lucky.
TRAIN RIDER Champion Author San Bernardino Posts:9,057 Points:2,752,845 Joined:Oct 2004	Message Posted: Sep 3, 2012 4:14:07 PM Ignore TRAIN RIDER Report Abuse China is having trouble manufacturing, wow.
singlemom27 Champion Author Ventura Posts:3,088 Points:635,210 Joined:Apr 2011	Message Posted: Sep 3, 2012 4:13:22 PM Ignore singlemom27 Report Abuse So when will we see reductions at the pumps?
calripken_8 Champion Author Virginia Posts:2,876 Points:654,215 Joined:Jun 2011	Message Posted: Sep 3, 2012 4:10:22 PM Ignore calripken_8 Report Abuse Weak China manufacturing? I guess more people need to go buy more cheap crap.
justme48 Champion Author New Jersey Posts:2,495 Points:506,595 Joined:Jun 2011	Message Posted: Sep 3, 2012 4:10:17 PM Ignore justme48 Report Abuse For how long???
ZimaKC All-Star Author Pittsburgh Posts:552 Points:545,185 Joined:Jun 2004	Message Posted: Sep 3, 2012 4:09:37 PM Ignore ZimaKC Report Abuse thanks for the info
tamiuron Champion Author Laredo Posts:1,943 Points:722,060 Joined:Jan 2011	Message Posted: Sep 3, 2012 4:08:07 PM Ignore tamiuron Report Abuse We really need to see prices fall because of increased production.
chuckhermann All-Star Author New York Posts:952 Points:495,800 Joined:Jun 2011	Message Posted: Sep 3, 2012 4:06:51 PM Ignore chuckhermann Report Abuse Prices will continue to rise as other countries become industrialized and compete for limited resources.
Jeeputtputt Champion Author Ohio Posts:3,002 Points:677,465 Joined:Aug 2009	Message Posted: Sep 3, 2012 4:06:08 PM Ignore Jeeputtputt Report Abuse more bs ==$$$$$$$$$$$$ at our pumps..
syreda Sophomore Author Phoenix Posts:244 Points:60,610 Joined:Jan 2012	Message Posted: Sep 3, 2012 4:05:17 PM Ignore syreda Report Abuse refine our oil at home.. shop giving China more and more of our American dollars.
jwalkerh Champion Author Louisiana Posts:6,127 Points:1,368,270 Joined:Oct 2008	Message Posted: Sep 3, 2012 4:05:17 PM Ignore jwalkerh Report Abuse Ok, but how long will this last?
oldiesman Champion Author New York Posts:6,407 Points:2,189,960 Joined:May 2006	Message Posted: Sep 3, 2012 4:04:49 PM Ignore oldiesman Report Abuse BOO HOO
beachmanglen All-Star Author Tampa Posts:669 Points:491,950 Joined:Aug 2011	Message Posted: Sep 3, 2012 4:04:44 PM Ignore beachmanglen Report Abuse Now I know why prices are falling. We fell a nickel a gallon last week.
CritterNanny Veteran Author Washington Posts:298 Points:1,340,345 Joined:Jun 2008	Message Posted: Sep 3, 2012 4:03:56 PM Ignore CritterNanny Report Abuse Yahoo!
torch347 Champion Author Indianapolis Posts:1,065 Points:1,029,325 Joined:Jul 2007	Message Posted: Sep 3, 2012 4:02:28 PM Ignore torch347 Report Abuse So where does this help us?
LuckyD43 Champion Author Long Island Posts:31,950 Points:2,163,095 Joined:Apr 2005	Message Posted: Sep 3, 2012 3:59:33 PM Ignore LuckyD43 Report Abuse This is good news. Now let's see if and when the GAS PRICES fall.
Lizzylou Champion Author Stockton Posts:8,818 Points:2,357,285 Joined:Oct 2005	Message Posted: Sep 3, 2012 3:59:18 PM Ignore Lizzylou Report Abuse Not helping us any!
Tnerbeel Champion Author Houston Posts:8,798 Points:1,743,860 Joined:Mar 2007	Message Posted: Sep 3, 2012 3:59:18 PM Ignore Tnerbeel Report Abuse I wouldn't call 17 cents a 'fall'. More like a 'slip'
southrob Champion Author Tucson Posts:3,585 Points:685,150 Joined:Mar 2011	Message Posted: Sep 3, 2012 3:58:50 PM Ignore southrob Report Abuse fall to 30 a barrel like it should be...DHAN
iamforiu Champion Author Indiana Posts:3,550 Points:706,765 Joined:May 2011	Message Posted: Sep 3, 2012 3:54:22 PM Ignore iamforiu Report Abuse Nothing falling here, except the rain from Issac
Hemi3tc Veteran Author Vancouver Posts:282 Points:281,415 Joined:Feb 2012	Message Posted: Sep 3, 2012 3:54:07 PM Ignore Hemi3tc Report Abuse The crash of the High speed trains and corruption uncovered caused the PRC to quietly suspend the construction of their High speed train network earlier this year. No more need for lots of steel so the import of large quatities of raw materials is no longer needed.
scottydoesnt Champion Author Chicago Posts:3,762 Points:526,520 Joined:Apr 2011	Message Posted: Sep 3, 2012 3:52:15 PM Ignore scottydoesnt Report Abuse What about Isaac ?
waynemustang Champion Author Indiana Posts:6,352 Points:1,660,810 Joined:Nov 2006	Message Posted: Sep 3, 2012 3:48:47 PM Ignore waynemustang Report Abuse China is in bad shape.
Settjec Champion Author Little Rock Posts:1,953 Points:683,520 Joined:May 2010	Message Posted: Sep 3, 2012 3:44:57 PM Ignore Settjec Report Abuse It has been brought to my attention that under the Bush admin. that crude went up to $140.00 a barrel. This is very true, back in summer of 2008 it did go up to that. However what people that are stating on here that OBUMMER had NOTHING to do with it, is very much brain dead. IT SURELY WAS NOT BUSH THAT BOWED TO SAUDI ARABIA IN APRIL OF 2009.... JUST 4 MONTHS AFTER TAKING OFFICE!!!! Hmmmmm I WONDER WHICH PRES. DID???? [Edited by: Settjec at 9/3/2012 3:45:42 PM EST]
marlita Champion Author Dayton Posts:3,307 Points:784,055 Joined:Mar 2010	Message Posted: Sep 3, 2012 3:44:46 PM Ignore marlita Report Abuse ok so when will gas prices start falling
ScottTee Champion Author Detroit Posts:4,366 Points:1,058,620 Joined:Mar 2010	Message Posted: Sep 3, 2012 3:44:21 PM Ignore ScottTee Report Abuse yet, retail prices do not fall
braves89 Champion Author Chicago Posts:7,623 Points:1,625,510 Joined:Apr 2008	Message Posted: Sep 3, 2012 3:41:11 PM Ignore braves89 Report Abuse agree with Sam195
trytogetby All-Star Author Cincinnati Posts:864 Points:214,000 Joined:Apr 2012	Message Posted: Sep 3, 2012 3:41:05 PM Ignore trytogetby Report Abuse Really.
silverfoxv65 Champion Author Michigan Posts:4,460 Points:1,225,750 Joined:Sep 2009	Message Posted: Sep 3, 2012 3:40:50 PM Ignore silverfoxv65 Report Abuse It needs to go back to $40.00 a barrel, like it should be.
Sam195 Champion Author San Bernardino Posts:8,065 Points:1,570,100 Joined:Oct 2008	Message Posted: Sep 3, 2012 3:40:37 PM Ignore Sam195 Report Abuse I wish gas prices would start falling.
muquee Champion Author Harrisburg Posts:2,416 Points:517,970 Joined:Nov 2011	Message Posted: Sep 3, 2012 3:35:00 PM Ignore muquee Report Abuse That's falling?
tdmedan All-Star Author Colorado Posts:580 Points:148,945 Joined:May 2012	Message Posted: Sep 3, 2012 3:34:58 PM Ignore tdmedan Report Abuse ok
HA4CNN Champion Author Toronto Posts:5,600 Points:1,539,360 Joined:Dec 2006	Message Posted: Sep 3, 2012 3:29:31 PM Ignore HA4CNN Report Abuse Seventeen cents is not falling it is more like sideways.
camaro_man Champion Author Kitchener-Waterloo Posts:2,207 Points:606,820 Joined:Jun 2010	Message Posted: Sep 3, 2012 3:26:53 PM Ignore camaro_man Report Abuse wow
red5529 Champion Author Alabama Posts:4,244 Points:1,454,385 Joined:Mar 2008	Message Posted: Sep 3, 2012 3:26:32 PM Ignore red5529 Report Abuse Ok
snarkysmarko Champion Author Baltimore Posts:3,072 Points:684,755 Joined:Nov 2010	Message Posted: Sep 3, 2012 3:25:54 PM Ignore snarkysmarko Report Abuse yet gas prices rise again...
ESCORT6768 Champion Author Iowa Posts:1,063 Points:609,110 Joined:Sep 2005	Message Posted: Sep 3, 2012 3:24:09 PM Ignore ESCORT6768 Report Abuse I agree Bud122CA.
Bud122CA Champion Author California Posts:7,446 Points:1,601,100 Joined:Jul 2008	Message Posted: Sep 3, 2012 3:23:05 PM Ignore Bud122CA Report Abuse Wish oil would get back to $50. a barrel
NavyEOD Champion Author Los Angeles Posts:9,986 Points:2,017,150 Joined:Jul 2007	Message Posted: Sep 3, 2012 3:20:54 PM Ignore NavyEOD Report Abuse Keep falling.