209119 Resource 133514 120646 120646 1216210338925 1216210338925 Controlled Economy Affects Oil Prices

Slowing demand forces oil prices lower

<font size="2"><span style="font-family: verdana,arial,helvetica,sans-serif;">The US economy is faltering, and it is finally having an effect on oil prices. </span><a href="http://www.bloomberg.com/apps/news?pid=20601012&sid=aIiJ9e9eThWY&refer=commodities" target="_blank" title="oil futures, oil prices, demand oil, US economy, spread bets oil prices, spread betting commodities, futures trading, GFT" style="font-family: verdana,arial,helvetica,sans-serif;">Bloomberg reports on US demand and oil futures</a><span style="font-family: verdana,arial,helvetica,sans-serif;">:</span><br style="font-family: verdana,arial,helvetica,sans-serif;" /><br style="font-style: italic; font-family: verdana,arial,helvetica,sans-serif;" /></font><div style="margin-left: 40px; font-family: verdana,arial,helvetica,sans-serif;"><font size="2"><span style="font-style: italic;">``With each passing day we are reading about more car companies cutting back on production, airlines slashing flights and consumers driving less,'' MF Global Ltd. analyst </span><a onmouseover="function onmouseover(event) { return escape(popwSearchNews(this)); }" href="http://search.bloomberg.com/search?q=Edward+Meir&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1" style="font-style: italic;">Edward Meir</a><span style="font-style: italic;"> said in a report today. ``As the pace of demand destruction accelerates, it will be harder to ignore.''</span><br /></font></div><font size="2"><br style="font-family: verdana,arial,helvetica,sans-serif;" /><span style="font-family: verdana,arial,helvetica,sans-serif;">Speculation on future demand for oil by developing nations can support </span><a href="http://www.oilweek.com/news.asp?ID=17427" target="_blank" title="oil futures, oil prices, demand oil, US economy, spread bets oil prices, spread betting commodities, futures trading, GFT" style="font-family: verdana,arial,helvetica,sans-serif;">oil prices</a><span style="font-family: verdana,arial,helvetica,sans-serif;"> only for so long. At some point, current demand has to be taken into consideration. And right now, the US economy is reducing demand for oil, and oil prices have no choice to respond.</span><br style="font-family: verdana,arial,helvetica,sans-serif;" /><br style="font-family: verdana,arial,helvetica,sans-serif;" /><span style="font-family: verdana,arial,helvetica,sans-serif;">The big question now is whether they will really fall that much further.</span></font><br /> 9 application/xml false demand oil futures trading GFT oil futures oil prices spread bets oil prices spread betting commodities US economy Spread betting on commodities http://www.gftuk.com/land/index.asp?aid=53 Mozilla/5.0 (Macintosh; U; Intel Mac OS X; en-US; rv:1.8.1.15) Gecko/20080623 Firefox/2.0.0.15 127.0.0.1 127.0.0.1 mmarquit 66.182.71.18 false true false false true 133514 blog blogsite/GFTUK/web