Oil and Gas Prices

dan_s · Post by **dan_s** » Mon Sep 26, 2011 8:09 pm

From plsx.com

The oil/gas price markets joined financial markets down last week with oil shedding 7% to $80/bbl and gas closing down 3% to $3.70/MMBtu. Last week was a triple whammy for the markets: 1) IMF sliced US growth rates down to 1.5% in 2011, 1.8% in 2012, 2) an underwhelming reception to the FEDS new "Operation Twist", and 3) continued pressure on the markets and European banks with sovereign debt woes.

However, today brought some stabilization to the markets with oil closing up slightly to $80.34/bbl and gas up nicely to $3.78.