Oil prices are slipping this morning, reacting more to dimming prospects for U.S. growth after a report showed job losses in August than the tropical storms building in the Caribbean.
October crude was last down close to $2 at $105.92 a barrel on the NY Merc — just about the level Iran’s OPEC governor said on Friday is “appropriate.”
Here’s a look at some of the story planning on the Reuters energy team today:
- Checking in on Hurricane Gustav cleanup - it’s been slow. (MMS releases updated production data from Gulf of Mexico in Gustav’s wake (1800 GMT)
- Checking on Entergy’s work to restore power, repair damaged grid
- From Caracas, details of any impact on oil industry from Monday’s electricity blackout.
Trackback
2 comments so far
Despite the slow cleanup, oil just dropped below $90 a barrel and Russia has suggested $50 a barrel oil may not be to far away. http://www.gotoguy.com/?p=415
- Posted by JamesI can say is it is kind of funny when OPEC says speculation is to be blame but why not look at themselves. The world is about demand, when oil prices rises to a record of 147 they were so happy knowing they can earn but never would they expect it to be so short live. They have killed off a demand that may takes years to recover and have also make the west more determine to reduce oil dependance the future looks bleak for OPEC and their role
- Posted by Samuel Louis