Nymex crude oil futures drop 1.9% to end at $104.70/barrel, lowest since mid February, rattled...

Nymex crude oil futures drop 1.9% to end at $104.70/barrel, lowest since mid February, rattled by concerns about the ripple effect of a potential disorderly default by Greece as well as China's lower growth outlook. Shares of the big oilfield services firms - SLB -3.1%, HAL -3.2%, BHI -2.4%, WFT -4.1%, NOV -3.5% - are pushed well below their target prices.

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Comments (3)
  • Stone Fox Capital
    , contributor
    Comments (10304) | Send Message
    absurd to keep repeating the 'China lower growth' comment. If that is the reason, this market will be at 1,700 as Lazlo suggests when China report 9% growth numbers.
    6 Mar 2012, 03:22 PM Reply Like
  • Bear Bait
    , contributor
    Comments (952) | Send Message
    I believe oil speculators may have been rattled by Congress asking for controls on excessive speculation. I do wish I knew where to find how much money rolled out of oil futures and into shorting equities.
    6 Mar 2012, 03:53 PM Reply Like
  • Triple Double Advisors
    , contributor
    Comments (19) | Send Message
    Recent Trends in Oil and Gas Supply and Demand:
    6 Mar 2012, 05:13 PM Reply Like
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