Oil was too high relative to supply, anyway.
The three “B”’s
A bit of a bubble bursting.
My opinion is that the US economy reflexively contracted (to the price run-up) and the demand shrank enough to pull back on the prices a bit. The dollar is still epically weak, so there’s no short term relief in sight. Just my opinion, worth every cent that was paid for it.
I think Bin Laden’s capture has much to do with it. Now he’s dead, his organization has just been fractured and this will lead to a lot less terrorism from them. They are all likely scrambling for power and they will be disorganized for some time.
Silver dropped last Friday so this is not completely unexpected (lol!). Will we see gold drop in price, too?
Have interest rates gone up a little? Have they slowed down the printing presses on all of that monopoly money they are producing?
I don’t know, all I can see is serious instability. Just as one crisis passes another one pops up. Birth pangs.
The traders have read the writing on the wall. Obama was about to put a pin to their bubble in order to save his political arse, and they are getting out ahead of it. Look for Eric Holder investigations into “manipulative” trades and tough new rules requiring traders to take physical custody of the oil. The savvy ones will cash out on top before all that starts happening.
Is this because Obama just won the war on terrorism by bringing down the Islamic wall?
Seriously : oil and silver they went up too high too fast and need a correction but will be increasing again.
But, but...why arent’t the evil speculators keeping it going higher? I thought they controlled the price!
Seriously, this is a reaction to the employment report. A forecast of lower economic activity indicates lower demand for oil going forward.
Markets adjust to the news they receive. For today, the big news is the above. We’ll see what tomorrow brings.
the post-it protest and anti-Obama campaign put too much pressure on them
Stock market...down. Commodities...down. It sounds like there won’t be a QE3. If thats true then you can count on interest rates to go up because if the Fed does not print money then the Treasury will have a hard time selling bonds. This will put pressure on Congress and the White House to reduce the deficit.
In other words, get ready for big tax hikes!!!!!!
It's sign we're headed into a double dip recession.
We can expect oil prices and inflation to take off again when economic growth starts picking up again.
Damnit. The day after I doubled down on my shares of COP. Figures. My timing always sucks.
I hope it stays high to be honest. It shows Obama’s economic plans in action in simplest terms even for a liberal to understand.
I would never buy crude oil. You couldn’t take it anywhere. It’s always belching and making fart noises with its armpit. And it’s never even seen a linen napkin. Give me cultured oil every time.
Margin Call Gentlemen.
Geithner said a few days ago that they were coming to the end of the current $600,000,000,000 lump of printing paper money in early June.
The Ivy League apparently rids its graduates of wisdom.
I heard that Soros sold a bunch of gold, silver, and oil holdings.
Gold and silver are sharply down too, but the dollar is rocketing up against the Pound and Euro. All indications are that the dollar is strengthening.