Not Logged In Log In   Sign Up   Points Leaders
Follow Us    12:50

GasBuddy News Article

7
votes
Oil prices rise as Fed meets on interest rates

Charter -- Oil prices rose Tuesday as the Federal Reserve began a two-day policy meeting on interest rates.

The U.S. government stepped in to bail out faltering banks and other giant businesses over the past year, which has helped send the dollar tumbling and the price of oil sharply higher.

Since oil is largely bought and sold in dollars, investors holding stronger currencies can buy more crude for less and have done so in recent months, sending the price of benchmark crude above $80 near the end of October.



Read the Full Article

Submitted Nov 03, 2009 By: FPLREP
Category: Daily News Article Discussions > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: Oil prices rise as Fed meets on interest rates Post a Reply Back to Topics
REPLIES (newest first)
Profile Pic
ENORMS Car icon
Champion Author Colorado

Posts:1,300
Points:530,375
Joined:Sep 2006
Message Posted: Nov 5, 2009 6:08:54

The speculators keep pushing up the price of oil until it kills the economy and puts more people out of work.
Profile Pic
NedW Car icon
Champion Author Indianapolis

Posts:2,320
Points:504,425
Joined:Mar 2008
Message Posted: Nov 3, 2009 10:13:47 PM

The Fed. This institution needs to be audited, badly.
Profile Pic
fordmexico Car icon
Champion Author Michigan

Posts:1,577
Points:139,905
Joined:Oct 2009
Message Posted: Nov 3, 2009 9:32:52 PM

No action expected by the Fed on interest rates (thank God), yet speculators are still using it as a reason to raise oil proces!
Profile Pic
mreiff Car icon
All-Star Author Louisville

Posts:990
Points:210,315
Joined:May 2009
Message Posted: Nov 3, 2009 3:34:40 PM

Too many factors influencing oil prices.
Profile Pic
FPLREP Car icon
Champion Author Virginia

Posts:2,887
Points:1,339,980
Joined:Oct 2005
Message Posted: Nov 3, 2009 3:29:35 PM

Better raise interest rates.
Post a reply Back to Topics