From today's newswires!
"A sharp decline by oil prices has also fueled the rally. Lower energy costs should take pressure off of inflation and give consumers strapped by a cooling housing market some added pocket change. Crude was moving lower again Friday, sliding 78 cents to $62.44 a barrel on the New York Mercantile Exchange as momentum-driven speculators continued to jump out of the energy market."
I guess the "conspiracy" to hold those prices above $64 failed?
Perhaps they are just trying to fool us into thinking there is a world spot maket functioning for oil?
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Rich Belloff
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