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Author	Topic: Oil to Get Boost on US Jobs Data: Survey	Post a Reply Back to Topics

brbaritone Champion Author Virginia Posts:2,063 Points:1,696,960 Joined:Jan 2007	Message Posted: Aug 8, 2012 6:29:00 PM Ignore brbaritone Report Abuse Oil prices will likely gain this week after Friday's forecast-beating U.S. jobs report though any rally may fade quickly as one month's data will do little to ease broader concerns about an anemic recovery in the world's largest economy, according to CNBC's weekly survey of oil market sentiment. "We expect the recent recovery in the crude oil price will be difficult to sustain in an environment where global growth fails to recover and in the absence of central bank action to stimulate growth," wrote Deutsche Bank analysts in a report on Friday. "Prospects for growth will improve from September onwards, which we expect will herald a more constructive environment for global oil markets," the report said. U.S. nonfarm payrolls increased by a seasonally adjusted 163,000 jobs last month, ... Visit CNBC via Yahoo! Finance for full article

brbaritone

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Message Posted: Aug 8, 2012 6:29:00 PM

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Oil prices will likely gain this week after Friday's forecast-beating U.S. jobs report though any rally may fade quickly as one month's data will do little to ease broader concerns about an anemic recovery in the world's largest economy, according to CNBC's weekly survey of oil market sentiment.

"We expect the recent recovery in the crude oil price will be difficult to sustain in an environment where global growth fails to recover and in the absence of central bank action to stimulate growth," wrote Deutsche Bank analysts in a report on Friday.

"Prospects for growth will improve from September onwards, which we expect will herald a more constructive environment for global oil markets," the report said.

U.S. nonfarm payrolls increased by a seasonally adjusted 163,000 jobs last month, ...
Visit CNBC via Yahoo! Finance for full article

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WalRus49 Champion Author Boston Posts:4,070 Points:867,890 Joined:Nov 2010	Message Posted: Aug 9, 2012 8:41:12 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage................
wild3bill Champion Author New York Posts:2,546 Points:1,686,615 Joined:Nov 2005	Message Posted: Aug 9, 2012 5:29:37 AM Ignore wild3bill Report Abuse Practically every week for a year or more these ESTIOMATES are published and the liars proclaim MORE JOBS= Unemployment Down. A week later the numbers are revised DOWN. Conservatives say the Recovery is a myth as the revised numbers show fewer people actually got jobs and theonly reduction in the numbers of people LOOKING for work are a result of old age, death, and people who just gave up looking because they felt it was HOPELESS.Gasoline prices rocket up on false news ten or twenty cents at a time.As the impact of the realaty of the Obama depression a diseas CAUSED by Obama care and not covered by it! gas prices begin to drop a penney at a time. In the mean time we were screwed by higher prices! TODAY look real carefully for the News that last weeks numerrs were revised DOWN!
anascom Champion Author Hamilton Posts:1,593 Points:553,115 Joined:Feb 2011	Message Posted: Aug 9, 2012 2:58:22 AM Ignore anascom Report Abuse just a usual excuse for increasing oil/gas prices.
amerk73 Champion Author Dallas Posts:7,045 Points:1,620,105 Joined:Oct 2008	Message Posted: Aug 9, 2012 1:10:39 AM Ignore amerk73 Report Abuse good to know
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Aug 9, 2012 12:48:29 AM Ignore dh0770 Report Abuse Of course speculators will embrace any excuse to steal.
DerHahn Champion Author Illinois Posts:13,704 Points:2,113,160 Joined:May 2004	Message Posted: Aug 8, 2012 10:45:50 PM Ignore DerHahn Report Abuse so, if we were all on unemployment does that mean that gas prices would finally be lower?
underbird10 Sophomore Author Atlanta Posts:166 Points:21,075 Joined:Jan 2009	Message Posted: Aug 8, 2012 10:30:14 PM Ignore underbird10 Report Abuse "Prospects for growth will improve from September onwards, which we expect will herald a more constructive environment for global oil markets," the report said. Speculation says that this statement will become reality just based on the fact that someone wrote it down and posted it. Constructive environment for global oil markets is defined as: another way to justify unreasonable and frequent increases in prices for no other reason than "because we can". I don't see any change in the pattern of "Create fear of meltdown to justify meltdown caused by fear of meltdown."
bkplenge Champion Author Tallahassee Posts:1,617 Points:121,580 Joined:Sep 2005	Message Posted: Aug 8, 2012 9:53:35 PM Ignore bkplenge Report Abuse Let's keep killing the economy. After all, it's been bad shape for several years now.
RONALD777 Champion Author Houston Posts:2,432 Points:362,005 Joined:Nov 2007	Message Posted: Aug 8, 2012 9:18:47 PM Ignore RONALD777 Report Abuse The world economy is still bad.
Meowmy Champion Author Florida Posts:1,293 Points:348,105 Joined:Jan 2011	Message Posted: Aug 8, 2012 8:03:53 PM Ignore Meowmy Report Abuse They need to count the people who are still unemployed, not just the new filings.
humblepie Champion Author Toledo Posts:34,154 Points:2,370,395 Joined:Mar 2006	Message Posted: Aug 8, 2012 7:24:52 PM Ignore humblepie Report Abuse so much guess work, it hasnt worked for obama for 3 1/2 years now...............
Night Owl Champion Author Toronto Posts:7,545 Points:1,785,625 Joined:Jul 2004	Message Posted: Aug 8, 2012 7:13:56 PM Ignore Night Owl Report Abuse Why aren't oil prices controlled by the laws of supply and demand? Greedy oil speculators just dictate what oil prices should be.
qwerty17 Champion Author New Jersey Posts:3,645 Points:1,116,550 Joined:Oct 2009	Message Posted: Aug 8, 2012 7:01:09 PM Ignore qwerty17 Report Abuse great.
brbaritone Champion Author Virginia Posts:2,063 Points:1,696,960 Joined:Jan 2007	Message Posted: Aug 8, 2012 6:30:02 PM Ignore brbaritone Report Abuse The article continues: ... the biggest increase since February, even as the unemployment rate ticked up to 8.3 percent, the Labor Department said Friday. In response, light, sweet crude (New York Mercantile Exchange: CLCV1) for September delivery rose $4.27, or 4.9 percent, to settle at $91.40 a barrel on the New York Mercantile Exchange on Friday. The contract reached $91.74, its highest intraday price since July 20, before pulling back slightly. Brent crude (Intercontinental Exchange Europe: LCOCV1) on ICE Futures Europe settled up $3.04, or 2.9 percent, at $108.94 a barrel. Many believe the consensus-beating U.S. payrolls data may represent yet another 'false dawn' for markets in much the same way as the July 26 remarks by European Central Bank President Mario Draghi's that the ECB "is ready to do whatever it takes to preserve the euro." The recent run up in prices "was based on expectations that the global economy would get another short term booster shot from the Fed, ECB, China," said Aiden Bradley, Managing Director and Head of Asian Oil and Gas at CIMB Research in Singapore. "Just how many plasters do people expect can be put over this gaping wound?" Bradley said he remained bullish on the outlook for oil in the medium-term but expected weakness in the near-term.