google news: 2 hours ago they said oil was less than $50/barrel... But now

[Deja Q]

they are saying it's below $57/barrel.

I wish I kept the article bookmarked; it blathered on about barrel prices getting to $45 within a few months or something... and the date was within the last 48 hours...

So what's the truth?

And does google truly tell it?

[Teaser]

1. Google doesn't report anything.

It simply aggregates stories. Somewhere out there was a story with a copy error and you just happened to find it.

[bigscott]

2. oil has not been

under 50 a barrel in a long time

[LunaC]

3. Markets fluctuate

throughout the trading day. Nothing sinister is going on. Check the closing price at the end of the day.

[bananas]

4. Maybe that was in euros n/t

[brokensymmetry]

5. Per WSJ:

Light Crude Oil Dec '05 57.40 -0.48 57.82 58.52 57.10 81905 63906 NYMX 11/17/05 13:35:17

So the trading low today was $57.10 on the Dec 2005 contract. I don't think you'll see $50/barrel again. Now $50 per gallon... :evilfrown:

[bananas]

6. found it - "OPEC oil price falls below $50"

I searched news.google.com for "oil barrel".
Here are four paragraphs:

http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=OBR&Date=20051117&ID=5290578

November 17, 2005 06:53 AM ET

OPEC oil price falls below $50

Reuters
All Reuters News

LONDON (Reuters) - OPEC's own oil price fell below $50 a barrel for the first time since the start of June on Thursday, touching a level that may trigger calls from some producers for the cartel to cut output.

The value of OPEC's basket of crudes fell to $49.73 a barrel on Wednesday, the group said on Thursday, down from $50.01 the previous day.

<snip>

But evidence that record high prices are dampening demand has convinced some in the cartel that the OPEC basket price can ease toward $40 before supply cuts become necessary.

"No one will cry if the OPEC basket hits $45, but $40 might be a different story," said an OPEC delegate.

<snip>