That makes perfect sense in a free market.
However, we currently see high levels of oil stocks in America... which means that the demand for crude oil is lower... which is somehow increasing the price of oil?
So, I don't expect the price of oil to drop on the sound free market principle of a reduced demand reducing prices.
Elsewise, we'd be seeing it happen in the right here and now.
:-(
"However, we currently see high levels of oil stocks in America... which means that the demand for crude oil is lower... which is somehow increasing the price of oil?
So, I don't expect the price of oil to drop on the sound free market principle of a reduced demand reducing prices."
Your are correct. What is really messed up is heating oil. $2.50 a gallon here in the North East. Thank God we had a mild winter, I burn about 200 gallons a month when it's cold. Their is a MAJOR surplus of heating oil this season, but the price went UP!