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NYMEX-Crude dips on China worry, eyes dollar moves

REUTERS -- * Fears China may tighten money policies affect oil

* Dollar movement vs euro makes oil traders cautious

* Coming up: IEA monthly oil market report due Friday

NEW YORK, March 11 (Reuters) - U.S. crude oil futures fell
on Thursday, as high inflation in China raised fears it may
tighten monetary policy soon and as traders tracked the
dollar's movements.

Also affecting oil markets, Wall Street dipped on data
showing U.S. weekly jobless benefit claims fell less than
expected and the money policy worries about China. [.N]

Post-inventory data reevaluation may also be affecting the
day's trade, some analysts said.

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Submitted Mar 11, 2010 By: billbearAL

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cpl11787 All-Star Author Minnesota Posts:630 Points:123,275 Joined:Jan 2010	Message Posted: Mar 12, 2010 3:40:20 PM Ignore cpl11787 Report Abuse good story.
KillChain Champion Author Albuquerque Posts:4,430 Points:1,093,400 Joined:Jun 2006	Message Posted: Mar 11, 2010 3:12:11 PM Ignore KillChain Report Abuse Ok.
jbcol1 Champion Author Virginia Beach Posts:1,442 Points:296,015 Joined:Sep 2005	Message Posted: Mar 11, 2010 2:41:30 PM Ignore jbcol1 Report Abuse Gee, the poor billionaire oil companies.... you know, the more I read the madder I get. Come on America, it's time we put a stop to being used and abused. Let your legislators know that you are not going to stand for it anymore. Let them know that THEIR job is at stake. They put us in the position that OUR jobs are at stake... We CAN do the same to them. They work for us, remember??? Time we remind them of that.
WCCurtis Champion Author San Bernardino Posts:3,304 Points:1,361,695 Joined:Oct 2005	Message Posted: Mar 11, 2010 2:36:26 PM Ignore WCCurtis Report Abuse Today, a barrel of Crude Oil closed up $.02 to $82.11.
hblee Champion Author Ontario Posts:1,866 Points:634,535 Joined:May 2004	Message Posted: Mar 11, 2010 2:33:59 PM Ignore hblee Report Abuse Let's all welcome China to the 21st century and all of its capitalist glory.
my3sons Champion Author New York Posts:4,455 Points:1,506,535 Joined:Aug 2005	Message Posted: Mar 11, 2010 2:14:36 PM Ignore my3sons Report Abuse the Chinese are not paid enough and their government artifically control prices there
jes Champion Author Pennsylvania Posts:14,025 Points:2,903,365 Joined:Jun 2003	Message Posted: Mar 11, 2010 2:00:55 PM Ignore jes Report Abuse There's no figuring this out anymore. It doesn't seem to matter what the price of oil does, the price of gas just keeps going up.
wizzard1222 Champion Author St. Louis Posts:6,214 Points:1,833,115 Joined:Mar 2006	Message Posted: Mar 11, 2010 2:00:54 PM Ignore wizzard1222 Report Abuse Yahhhha...$usd has been up.... & so has crude !!! Go figure...hedge funds & investment bankers 'SCREWING THE MAKRETS & US CONSUMERS !!!!
saveongasNC Champion Author North Carolina Posts:4,407 Points:1,094,015 Joined:Aug 2008	Message Posted: Mar 11, 2010 1:59:28 PM Ignore saveongasNC Report Abuse IT is all bull!!!
PFCASTA All-Star Author Worcester Posts:939 Points:1,338,205 Joined:Apr 2006	Message Posted: Mar 11, 2010 1:41:43 PM Ignore PFCASTA Report Abuse Crude dips and the price of gas goes up
slvrdo_dsprdo Champion Author Nashville Posts:3,315 Points:642,640 Joined:Jul 2008	Message Posted: Mar 11, 2010 1:40:33 PM Ignore slvrdo_dsprdo Report Abuse At least they're no longer the largest holder of our debt. They're still a large holder, however, and are not to be messed with.
goldseeker Champion Author West Virginia Posts:16,298 Points:2,252,665 Joined:Sep 2005	Message Posted: Mar 11, 2010 1:39:27 PM Ignore goldseeker Report Abuse Really? Pump prices went up another 9 cents here.
DellDude2 Champion Author Nashville Posts:6,778 Points:1,655,860 Joined:Aug 2005	Message Posted: Mar 11, 2010 1:35:53 PM Ignore DellDude2 Report Abuse Kato51, interesting thoughts.
BobbyVA Champion Author Virginia Beach Posts:3,431 Points:748,040 Joined:Jul 2009	Message Posted: Mar 11, 2010 1:34:16 PM Ignore BobbyVA Report Abuse China is still outraged at Obama's position regarding the Dalai Lama and are waiting to bury us by a tighten monetary policy regarding US Treasury Bonds. They are also spearheading an attack on our bond ratings.
MDTDriver Champion Author California Posts:7,445 Points:1,692,760 Joined:Jul 2006	Message Posted: Mar 11, 2010 1:31:08 PM Ignore MDTDriver Report Abuse Crude dips and the price of gas goes up up and away.
valvestem Champion Author Maine Posts:1,595 Points:109,830 Joined:Feb 2006	Message Posted: Mar 11, 2010 1:27:58 PM Ignore valvestem Report Abuse Mumbo jumbo. Typical of these people.
unicornpmb Champion Author Buffalo Posts:6,117 Points:1,162,475 Joined:Sep 2005	Message Posted: Mar 11, 2010 1:24:32 PM Ignore unicornpmb Report Abuse Here we go again with the "May" rumors.
aalix Champion Author Orange County Posts:20,900 Points:3,679,225 Joined:Aug 2001	Message Posted: Mar 11, 2010 1:22:21 PM Ignore aalix Report Abuse This article ended up confusing me. Was this the intention?
Kato51 Champion Author Atlanta Posts:5,332 Points:1,771,450 Joined:Jul 2005	Message Posted: Mar 11, 2010 1:19:59 PM Ignore Kato51 Report Abuse If the problems in China continue we may be in a real mess if China's economy goes down the toilet in view of the humugous bank they have been to Boma.
eddyp94 Champion Author Ontario Posts:6,753 Points:1,381,885 Joined:Mar 2008	Message Posted: Mar 11, 2010 1:10:11 PM Ignore eddyp94 Report Abuse sounds like another reason to raise prices again...
repeater1 Champion Author Topeka Posts:6,043 Points:1,914,545 Joined:Oct 2005	Message Posted: Mar 11, 2010 1:08:02 PM Ignore repeater1 Report Abuse More speculation trying to drive the price up.
TFowler513 Champion Author Memphis Posts:2,582 Points:978,110 Joined:Mar 2008	Message Posted: Mar 11, 2010 1:02:59 PM Ignore TFowler513 Report Abuse Nothing but pure speculation just to manipulate the market.
lindact Champion Author New Haven Posts:6,487 Points:1,270,410 Joined:May 2008	Message Posted: Mar 11, 2010 12:54:01 PM Ignore lindact Report Abuse As China goes, so goes the world.
dollarwatcher Champion Author Wisconsin Posts:5,555 Points:1,067,445 Joined:Mar 2007	Message Posted: Mar 11, 2010 12:53:34 PM Ignore dollarwatcher Report Abuse It's all about the final price at the pump.
RobertSpratt Champion Author Virginia Beach Posts:2,612 Points:596,660 Joined:Jul 2007	Message Posted: Mar 11, 2010 12:52:47 PM Ignore RobertSpratt Report Abuse Everything affects the price of oil. "McDonalds now has a new dollar menu", "This just in, crude oil prices just jumped $2/barrel on the announcement of McDonalds new dollar menu".
lgwhitlock Champion Author Chico Posts:5,130 Points:1,223,470 Joined:Jun 2008	Message Posted: Mar 11, 2010 12:52:45 PM Ignore lgwhitlock Report Abuse More speculation even if in this instance it favors us in the USA...
balljars Champion Author Michigan Posts:6,135 Points:1,217,150 Joined:Aug 2008	Message Posted: Mar 11, 2010 12:52:17 PM Ignore balljars Report Abuse And all we have worry about is everything is going up.
Lowell_MA Rookie Author Massachusetts Posts:65 Points:88,295 Joined:May 2009	Message Posted: Mar 11, 2010 12:43:09 PM Ignore Lowell_MA Report Abuse Focus2 I agree...They make all scrap products, nothing is durable.
KarateDude Champion Author Cincinnati Posts:1,815 Points:544,485 Joined:Mar 2008	Message Posted: Mar 11, 2010 12:40:30 PM Ignore KarateDude Report Abuse Its like one big shell game.......... and the end consumer is the looser...............
Zygnatz Champion Author British Columbia Posts:10,512 Points:2,072,530 Joined:Oct 2005	Message Posted: Mar 11, 2010 12:40:27 PM Ignore Zygnatz Report Abuse Anything affects the price of crude now. What about supply and demand?
KarateDude Champion Author Cincinnati Posts:1,815 Points:544,485 Joined:Mar 2008	Message Posted: Mar 11, 2010 12:39:53 PM Ignore KarateDude Report Abuse Its like one big shell game..........
Focus2 Champion Author Illinois Posts:6,297 Points:1,630,480 Joined:Mar 2006	Message Posted: Mar 11, 2010 12:37:42 PM Ignore Focus2 Report Abuse We have to have a tax base and the goods from China should be taxed. This country wants the services but they don't want to pay for them. They want someone else to pay. There will have to be taxes to pay even for wars,we can't charge everything.
Tamas2evil Champion Author Pennsylvania Posts:5,794 Points:1,000,160 Joined:Sep 2006	Message Posted: Mar 11, 2010 12:35:29 PM Ignore Tamas2evil Report Abuse I think we should just stop selling only to buy later... come on that is just crazy
TheDix Champion Author Ontario Posts:2,000 Points:359,270 Joined:Dec 2009	Message Posted: Mar 11, 2010 12:34:50 PM Ignore TheDix Report Abuse None of this makes any sense to me.
tarheelcoastie Champion Author Greensboro Posts:3,008 Points:662,745 Joined:Jan 2009	Message Posted: Mar 11, 2010 12:21:02 PM Ignore tarheelcoastie Report Abuse I wish we could wean ourselves off of China and send them back to the Stone Age. Looks like greed will be our downfall.
mickealo Champion Author Spokane Posts:3,909 Points:1,698,090 Joined:Oct 2006	Message Posted: Mar 11, 2010 12:20:30 PM Ignore mickealo Report Abuse it will kill economy if it keeps going up
Chazzy12 Champion Author Massachusetts Posts:2,598 Points:641,140 Joined:Dec 2008	Message Posted: Mar 11, 2010 12:18:01 PM Ignore Chazzy12 Report Abuse But the Wall Street journal said we can afford $3 gasoline 'cuz the economy is improving?????
MRED3 Champion Author Jacksonville Posts:3,626 Points:803,345 Joined:May 2009	Message Posted: Mar 11, 2010 12:15:22 PM Ignore MRED3 Report Abuse OK
Jarod13 Champion Author Virginia Posts:3,470 Points:1,049,730 Joined:Oct 2008	Message Posted: Mar 11, 2010 12:10:47 PM Ignore Jarod13 Report Abuse China is finally starting to feel the pain that the rest of the world has been experiencing for the past couple of years. Since the Chinese government has been subsidizing most segment of their economy, it's finally having to do something in order to prevent its economy from totally collapsing, similar to what has happened to the rest of the world's economies. With many of its people still living in the 19th century, the Chinese government is going to have to eventually relinquish some of its power over its people and afford some civil rights to them in order to prevent chaos and total anarchy.
oldosc8 Champion Author Baltimore Posts:1,541 Points:377,180 Joined:Nov 2009	Message Posted: Mar 11, 2010 12:10:16 PM Ignore oldosc8 Report Abuse Gas prices down for now around here until the spring and summer.
milespergallon Champion Author Illinois Posts:7,494 Points:1,480,185 Joined:Feb 2007	Message Posted: Mar 11, 2010 12:09:26 PM Ignore milespergallon Report Abuse Job loses being less than 'expected' is NOT good news! It still means that more jobs where LOST!
ebowMA Veteran Author Boston Posts:443 Points:607,860 Joined:Apr 2008	Message Posted: Mar 11, 2010 12:07:01 PM Ignore ebowMA Report Abuse China needs to let their exchange rate with the dollar float, and they need to stop subsidizing gasoline.
Kamakani Champion Author Hawaii Posts:2,388 Points:954,270 Joined:Oct 2008	Message Posted: Mar 11, 2010 12:03:42 PM Ignore Kamakani Report Abuse Let er dip.
Duallyman All-Star Author Columbus Posts:930 Points:159,075 Joined:Oct 2009	Message Posted: Mar 11, 2010 12:02:51 PM Ignore Duallyman Report Abuse Ride a motorcycle . Summer is comming and motorcycles will be on sale and will pay for itself in gas savings.
b899 Champion Author Connecticut Posts:2,772 Points:1,136,270 Joined:Jul 2008	Message Posted: Mar 11, 2010 11:57:11 AM Ignore b899 Report Abuse still too high
RANGERKY Rookie Author Lexington Posts:18 Points:2,340 Joined:Mar 2010	Message Posted: Mar 11, 2010 11:56:28 AM Ignore RANGERKY Report Abuse OIL PRICES DOWN, GAS PRICES UP GO FIGURE.
CatMan623 Champion Author Houston Posts:12,460 Points:1,881,655 Joined:Aug 2006	Message Posted: Mar 11, 2010 11:54:09 AM Ignore CatMan623 Report Abuse Gotta get that gambler's high every day on the market..... Let's not actually make anything any more, just churn the market trying to make a buck for doing absolutely nothing.
Tekkie Champion Author Philadelphia Posts:3,781 Points:801,080 Joined:Oct 2003	Message Posted: Mar 11, 2010 11:51:51 AM Ignore Tekkie Report Abuse Not reflected in gas prices...
PAofFA Champion Author Trenton Posts:2,059 Points:440,345 Joined:May 2009	Message Posted: Mar 11, 2010 11:50:47 AM Ignore PAofFA Report Abuse But gas prices don't follow...
srchr Champion Author San Jose Posts:4,874 Points:1,161,750 Joined:Apr 2008	Message Posted: Mar 11, 2010 11:50:45 AM Ignore srchr Report Abuse too complicated for me