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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:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Sep 5, 2012 10:26:01 PM Ignore honda0105 Report Abuse time will tell.
honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Sep 4, 2012 10:09:05 PM Ignore honda0105 Report Abuse not necessarily so good for the US in the long run.
eomc17 Champion Author Tucson Posts:1,843 Points:135,615 Joined:Mar 2007	Message Posted: Sep 4, 2012 2:26:08 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:4,308 Points:799,580 Joined:Feb 2011	Message Posted: Sep 3, 2012 10:43:31 PM 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:2,535 Points:717,775 Joined:Mar 2011	Message Posted: Sep 3, 2012 10:37:26 PM Ignore naiiawah Report Abuse Like it will matter at the pump though.
Digger52 Champion Author Chicago Posts:2,541 Points:875,640 Joined:Aug 2008	Message Posted: Sep 3, 2012 8:05:01 PM Ignore Digger52 Report Abuse OK
Volvodude04 Champion Author Fresno Posts:2,449 Points:301,600 Joined:Aug 2012	Message Posted: Sep 3, 2012 7:16:55 PM Ignore Volvodude04 Report Abuse Staying the same in California.
Jeff1944 Champion Author South Dakota Posts:4,347 Points:1,101,260 Joined:Jan 2010	Message Posted: Sep 3, 2012 5:21:06 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:4,959 Points:1,392,930 Joined:Nov 2008	Message Posted: Sep 3, 2012 4:48:26 PM Ignore DeeLA Report Abuse Prices are rising again in this area.
ktbaeohana Champion Author Las Vegas Posts:2,417 Points:443,100 Joined:Mar 2010	Message Posted: Sep 3, 2012 4:20:18 PM Ignore ktbaeohana Report Abuse watch and see.
Tehbob Champion Author California Posts:2,431 Points:484,780 Joined:Jan 2012	Message Posted: Sep 3, 2012 3:22:57 PM Ignore Tehbob Report Abuse hmmm
comprof Champion Author Houston Posts:7,015 Points:1,385,425 Joined:Jul 2009	Message Posted: Sep 3, 2012 2:16:08 PM Ignore comprof Report Abuse 49.2 PMI - America wishes it could be so lucky.
TRAIN RIDER Champion Author San Bernardino Posts:9,222 Points:2,785,520 Joined:Oct 2004	Message Posted: Sep 3, 2012 2:14:07 PM Ignore TRAIN RIDER Report Abuse China is having trouble manufacturing, wow.
singlemom27 Champion Author Ventura Posts:3,253 Points:667,885 Joined:Apr 2011	Message Posted: Sep 3, 2012 2:13:22 PM Ignore singlemom27 Report Abuse So when will we see reductions at the pumps?
calripken_8 Champion Author Virginia Posts:3,046 Points:687,865 Joined:Jun 2011	Message Posted: Sep 3, 2012 2:10:22 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:2,660 Points:538,970 Joined:Jun 2011	Message Posted: Sep 3, 2012 2:10:17 PM Ignore justme48 Report Abuse For how long???
ZimaKC All-Star Author Pittsburgh Posts:552 Points:568,285 Joined:Jun 2004	Message Posted: Sep 3, 2012 2:09:37 PM Ignore ZimaKC Report Abuse thanks for the info
tamiuron Champion Author Laredo Posts:1,946 Points:751,495 Joined:Jan 2011	Message Posted: Sep 3, 2012 2:08:07 PM Ignore tamiuron Report Abuse We really need to see prices fall because of increased production.
chuckhermann Champion Author New York Posts:1,027 Points:520,975 Joined:Jun 2011	Message Posted: Sep 3, 2012 2:06:51 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 2:06:08 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 2:05:17 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:6,197 Points:1,377,430 Joined:Oct 2008	Message Posted: Sep 3, 2012 2:05:17 PM Ignore jwalkerh Report Abuse Ok, but how long will this last?
oldiesman Champion Author New York Posts:6,566 Points:2,221,590 Joined:May 2006	Message Posted: Sep 3, 2012 2:04:49 PM Ignore oldiesman Report Abuse BOO HOO
beachmanglen All-Star Author Tampa Posts:769 Points:521,650 Joined:Aug 2011	Message Posted: Sep 3, 2012 2:04:44 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:309 Points:1,367,565 Joined:Jun 2008	Message Posted: Sep 3, 2012 2:03:56 PM Ignore CritterNanny Report Abuse Yahoo!
torch347 Champion Author Indianapolis Posts:1,079 Points:1,049,430 Joined:Jul 2007	Message Posted: Sep 3, 2012 2:02:28 PM Ignore torch347 Report Abuse So where does this help us?
LuckyD43 Champion Author Long Island Posts:32,465 Points:2,195,770 Joined:Apr 2005	Message Posted: Sep 3, 2012 1:59:33 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 1:59:18 PM Ignore Lizzylou Report Abuse Not helping us any!
Tnerbeel Champion Author Houston Posts:8,973 Points:1,777,450 Joined:Mar 2007	Message Posted: Sep 3, 2012 1:59:18 PM Ignore Tnerbeel Report Abuse I wouldn't call 17 cents a 'fall'. More like a 'slip'
southrob Champion Author Tucson Posts:3,741 Points:715,875 Joined:Mar 2011	Message Posted: Sep 3, 2012 1:58:50 PM Ignore southrob Report Abuse fall to 30 a barrel like it should be...DHAN
iamforiu Champion Author Indiana Posts:3,715 Points:739,440 Joined:May 2011	Message Posted: Sep 3, 2012 1:54:22 PM Ignore iamforiu Report Abuse Nothing falling here, except the rain from Issac
Hemi3tc Veteran Author Vancouver Posts:297 Points:302,390 Joined:Feb 2012	Message Posted: Sep 3, 2012 1:54:07 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:3,928 Points:540,895 Joined:Apr 2011	Message Posted: Sep 3, 2012 1:52:15 PM Ignore scottydoesnt Report Abuse What about Isaac ?
waynemustang Champion Author Indiana Posts:6,470 Points:1,691,235 Joined:Nov 2006	Message Posted: Sep 3, 2012 1:48:47 PM Ignore waynemustang Report Abuse China is in bad shape.
Settjec Champion Author Little Rock Posts:2,125 Points:712,670 Joined:May 2010	Message Posted: Sep 3, 2012 1:44:57 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:3,320 Points:787,240 Joined:Mar 2010	Message Posted: Sep 3, 2012 1:44:46 PM Ignore marlita Report Abuse ok so when will gas prices start falling
ScottTee Champion Author Detroit Posts:4,532 Points:1,091,295 Joined:Mar 2010	Message Posted: Sep 3, 2012 1:44:21 PM Ignore ScottTee Report Abuse yet, retail prices do not fall
braves89 Champion Author Chicago Posts:7,788 Points:1,658,185 Joined:Apr 2008	Message Posted: Sep 3, 2012 1:41:11 PM Ignore braves89 Report Abuse agree with Sam195
trytogetby All-Star Author Cincinnati Posts:910 Points:224,845 Joined:Apr 2012	Message Posted: Sep 3, 2012 1:41:05 PM Ignore trytogetby Report Abuse Really.
silverfoxv65 Champion Author Michigan Posts:4,628 Points:1,258,275 Joined:Sep 2009	Message Posted: Sep 3, 2012 1:40:50 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:8,230 Points:1,602,775 Joined:Oct 2008	Message Posted: Sep 3, 2012 1:40:37 PM Ignore Sam195 Report Abuse I wish gas prices would start falling.
muquee Champion Author Harrisburg Posts:2,536 Points:548,645 Joined:Nov 2011	Message Posted: Sep 3, 2012 1:35:00 PM Ignore muquee Report Abuse That's falling?
tdmedan All-Star Author Colorado Posts:581 Points:149,715 Joined:May 2012	Message Posted: Sep 3, 2012 1:34:58 PM Ignore tdmedan Report Abuse ok
HA4CNN Champion Author Toronto Posts:5,770 Points:1,572,165 Joined:Dec 2006	Message Posted: Sep 3, 2012 1:29:31 PM Ignore HA4CNN Report Abuse Seventeen cents is not falling it is more like sideways.
camaro_man Champion Author Kitchener-Waterloo Posts:2,372 Points:638,745 Joined:Jun 2010	Message Posted: Sep 3, 2012 1:26:53 PM Ignore camaro_man Report Abuse wow
red5529 Champion Author Alabama Posts:4,384 Points:1,485,935 Joined:Mar 2008	Message Posted: Sep 3, 2012 1:26:32 PM Ignore red5529 Report Abuse Ok
snarkysmarko Champion Author Baltimore Posts:3,090 Points:712,490 Joined:Nov 2010	Message Posted: Sep 3, 2012 1:25:54 PM Ignore snarkysmarko Report Abuse yet gas prices rise again...
ESCORT6768 Champion Author Iowa Posts:1,157 Points:627,040 Joined:Sep 2005	Message Posted: Sep 3, 2012 1:24:09 PM Ignore ESCORT6768 Report Abuse I agree Bud122CA.
Bud122CA Champion Author California Posts:7,606 Points:1,632,800 Joined:Jul 2008	Message Posted: Sep 3, 2012 1:23:05 PM Ignore Bud122CA Report Abuse Wish oil would get back to $50. a barrel
NavyEOD Champion Author Los Angeles Posts:10,151 Points:2,049,825 Joined:Jul 2007	Message Posted: Sep 3, 2012 1:20:54 PM Ignore NavyEOD Report Abuse Keep falling.