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Oil price up after attack on US consulate in Libya

AP -- BANGKOK (AP) -- Oil traded above $97 a barrel Thursday in Asia after an attack on the U.S. Consulate in Libya and the killing of the U.S. ambassador there sparked new worries about unrest in the Middle East.

Benchmark crude was up 6 cents at $97.07 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 16 cents Wednesday to end at $97.01 per barrel in New York.

Brent crude was up 16 cents at $115.49 a barrel on the ICE Futures Exchange in London.

Ambassador Chris Stevens and three other Americans died after a mob attack on the U.S. diplomatic facility in Benghazi on Tuesday. The attack in Libya came hours after a mob stormed the U.S. Embassy in Cairo and tore down the U.S. flag.

Officials were investigating whether the rampage


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Submitted Sep 13, 2012 By: mastermariner
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil price up after attack on US consulate in Libya Back to Topics
REPLIES (newest first) Post a Reply
my2002m
Champion Author Tulsa

Posts:9,319
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Joined:Jul 2008
Message Posted: Sep 13, 2012 11:22:43 PM

And we thought prices were going to go down.
PathfinderSC
Champion Author South Carolina

Posts:13,019
Points:2,627,610
Joined:Mar 2008
Message Posted: Sep 13, 2012 7:43:57 PM

They always looking to raise gas prices.
GasGuzZ71
Veteran Author Texas

Posts:327
Points:2,058,865
Joined:Aug 2006
Message Posted: Sep 13, 2012 2:25:03 PM

Why would prices go up? Is there any fear about a reprisal from this administration? I doubt it. We'll probably just apologize for soiling their soil with our blood.
36_ACRES_4_SALE
All-Star Author Appleton

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Joined:Oct 2011
Message Posted: Sep 13, 2012 2:22:30 PM

k
sydb7
Champion Author Atlanta

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Message Posted: Sep 13, 2012 1:46:05 PM

A speculator's excuse!!
sts808
Veteran Author Honolulu

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Message Posted: Sep 13, 2012 12:28:33 PM

ok
melvindale
Champion Author Michigan

Posts:1,438
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Message Posted: Sep 13, 2012 12:27:43 PM

Just an excuse to run up prices, again.
packards42
Champion Author Washington

Posts:9,417
Points:1,801,905
Joined:Feb 2005
Message Posted: Sep 13, 2012 12:24:36 PM

.16 ccents a barrel. why brother to report it.
dieselgus1
Champion Author Montana

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Points:953,675
Joined:Oct 2009
Message Posted: Sep 13, 2012 12:12:25 PM

classic. i know Libya produces oil, but an embassy attack driving up[ prices? uhhhh, I'm sorry, that's just BS. They'll spin it as "unknown" with respect to Libya's oil output, but that's BS.
sramroop
Champion Author Birmingham

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Message Posted: Sep 13, 2012 11:26:00 AM

Any reason to send up the prices
leemun
Champion Author Utah

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Message Posted: Sep 13, 2012 11:20:49 AM

And what were you expecting?
Mariuxus
Champion Author Chicago

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Message Posted: Sep 13, 2012 11:15:12 AM

wow...any reason is good...up and up...
stopforgas
Champion Author Mississippi

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Message Posted: Sep 13, 2012 11:09:16 AM

Doug, you are wrong.
jlf599
Veteran Author Kentucky

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Points:126,925
Joined:May 2012
Message Posted: Sep 13, 2012 10:58:58 AM

Actually, blaming speculators is not wrong. Supply and demand mean nothing. They *do* have control, Doug. Weathermen do not.
DougtheEconMan
Champion Author Akron

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Message Posted: Sep 13, 2012 10:54:56 AM

Blaming speculators for high energy prices is like blaming the weatherman for the bad weather!
Jeff4U
Champion Author Atlanta

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Message Posted: Sep 13, 2012 10:43:56 AM

Oil prices up due to iPhone5 announcement.
BudsterMO
Champion Author Kansas City

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Message Posted: Sep 13, 2012 10:34:35 AM

Develope and promote alternative forms of energy everywhere possible.

Stop Oil Speculation (SOS) NOW!
zaq001
Champion Author Atlanta

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Message Posted: Sep 13, 2012 10:29:21 AM

Not a surprise.
VernonOR
Champion Author Oregon

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Message Posted: Sep 13, 2012 10:24:24 AM

Only answer to have lower fuel prices is alternative energy. Gas will never be cheap again.
hallows
Champion Author St. Louis

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Message Posted: Sep 13, 2012 10:23:43 AM

My same sentiments, VWC!
DougtheEconMan
Champion Author Akron

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Message Posted: Sep 13, 2012 10:23:33 AM

Dollar Index is down to 79.66 this morn! Obama keeps spending at record pace, putting downward pressure on the US Dollar, causing upward pressure on oil/gasoline prices. I cant see prices at the pump dropping very much or maybe not at all!
DougtheEconMan
Champion Author Akron

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Points:378,430
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Message Posted: Sep 13, 2012 10:23:07 AM

KEEP YOUR TANKS FULL! I've been preaching this for almost 2 months. The "pundits" and "experts" have NOT understood the supply/demand curve for gasoline that started to shape at the beginning of summer. Gasoline refineries have been overworked for months and months. Many have broke down. Some have caught on fire. This was all BEFORE the huricane!! We've seen some after driving season price drop, but very little and this is probably it. STAY FULL! We are only one or two down refineries from shooting back over $4 for a national average. Obamas failing and falling dollar will continue to put upward pressure on oil/gasoline.
alwaysridin88
Champion Author Ohio

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Message Posted: Sep 13, 2012 10:22:40 AM

Wind is blowing, oil is up; raining, raise prices; Arab sheik needs new car, jack up the cost per barrel. Always an excuse to gouge us.
VWC
All-Star Author Maryland

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Message Posted: Sep 13, 2012 10:20:36 AM

Always an excuse to raise the price.
Wolfwings
Champion Author Delaware

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Message Posted: Sep 13, 2012 10:20:31 AM

Here's a thought:

Stop dealing with these arabs. Let them destroy each other, and leave the rest of the world ALONE.
FuelBarge
Champion Author Long Island

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Message Posted: Sep 13, 2012 10:18:55 AM

I am stunned at how fast gasoline prices are rising and to the prices. I am now seeing between $4.079 and $4.199 for regular. And after Labor Day no less.
DeeLA
Champion Author Los Angeles

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Message Posted: Sep 13, 2012 10:16:17 AM

lIt's too bad that the speculators only read the headlines and don't study what really happened here.
momof5MN
Champion Author Twin Cities

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Message Posted: Sep 13, 2012 10:14:50 AM

And gas went up another dime yesterday.
Insuremn
Champion Author Twin Cities

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Message Posted: Sep 13, 2012 10:14:26 AM

Ok.
ibhenry
Champion Author San Diego

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Message Posted: Sep 13, 2012 10:13:48 AM

Someone spit on the sidewalk in Iran, gas going up two cents...
mberg
Champion Author Houston

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Message Posted: Sep 13, 2012 10:11:52 AM

Were these buyers, or speculators, or someone just trying to make a living?
MrLuigi
Champion Author Massachusetts

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Message Posted: Sep 13, 2012 10:11:38 AM

wouldn't have effected prices if we didn't deal with the Middle East and the unrest they represent constantly
zonernovi
Champion Author Michigan

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Message Posted: Sep 13, 2012 10:11:23 AM

another excuse
nomad228
Champion Author Columbus

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Message Posted: Sep 13, 2012 10:11:15 AM

i just thought of a way to fix this problem.gas the whole country,not kill them just gas them/put them to sleep for a day/week then have troops walk the land and pick up any of them that have guns/rifles/or even more lethal weapons. then throw them on a island somewhere like they did in the old days in australia.botany bay.
CorvairHaven
Champion Author Cleveland

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Message Posted: Sep 13, 2012 10:11:03 AM

I sure wouldn't want to live in an Islamic country.
Don20
Champion Author Oklahoma City

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Joined:Mar 2005
Message Posted: Sep 13, 2012 10:10:50 AM

Oil traded above $97 a barrel Thursday in Asia after an attack on the U.S. Consulate in Libya and the killing of the U.S. ambassador there sparked new worries about unrest in the Middle East.

Any excuse is good, don't let any disaster go to waist...
gasman50
Champion Author Portland

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Message Posted: Sep 13, 2012 10:09:28 AM

Thanks to our "friends" in the Middle East
jimgraham
Champion Author Akron

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Joined:Oct 2007
Message Posted: Sep 13, 2012 10:09:24 AM

What took them so long and why did they only go up 16 cents?

Maybe the speculators are getting a little scared that they are way out on a limb here?
1958tomg
Champion Author Kansas

Posts:5,527
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Message Posted: Sep 13, 2012 10:09:07 AM

ok
rippertoo
Champion Author Tacoma

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Message Posted: Sep 13, 2012 10:08:50 AM

Or any other news too.
jpgilmor
Champion Author Houston

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Message Posted: Sep 13, 2012 10:08:27 AM

Of course.
bigtravelerPA
Veteran Author Harrisburg

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Message Posted: Sep 13, 2012 10:08:11 AM

Tired of excuses
OldMan322
Champion Author Illinois

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Message Posted: Sep 13, 2012 10:07:26 AM

speculators trying to make an easy buck
cheli2010
Champion Author Twin Cities

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Joined:Mar 2010
Message Posted: Sep 13, 2012 10:07:07 AM

no surprise here....
madison8359
Champion Author Cleveland

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Message Posted: Sep 13, 2012 10:06:54 AM

Any reason of no reason, my aunt was late coming home last night, I guess we will raise prices.
babyjudy
Champion Author Tucson

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Message Posted: Sep 13, 2012 10:05:30 AM

What did you expect?
Somis1
Champion Author Ventura

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Message Posted: Sep 13, 2012 10:05:01 AM

Not an unreasonable reaction, and shouldn't last long.
techque
Champion Author St. Louis

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Message Posted: Sep 13, 2012 10:04:55 AM

"The fact that all of this is occurring without a price impact on oil shows that a geopolitical premium is already priced in,"
tribill
Champion Author Twin Cities

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Message Posted: Sep 13, 2012 10:04:51 AM

Whatever...
96sc1
Champion Author El Paso

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Message Posted: Sep 13, 2012 10:04:11 AM

thepi reported:
"And it sure didn't take long to affect gas pump prices in the Twin Cities, up over 25 cents a gallon in the past week ..."

Perhaps the Twin Cities station owners were in on it.
adadaly
Sophomore Author Utah

Posts:146
Points:1,077,775
Joined:Jan 2009
Message Posted: Sep 13, 2012 10:03:07 AM

Really!
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