Suggested Predictions
Ziibos (25)
|
Oil prices went up. Oil prices came down. So was this all a bubble?
Since hitting their peak on July 11, oil prices have fallen more than $40 a barrel. The fall came despite hurricanes threatening Gulf of Mexico drilling and refining and Russia invading Georgia, with its crucial energy pipelines. Crude oil fell to a five-month low in New York and Brent oil in London dropped below $100 a barrel as the Saudi Arabian and Venezuelan oil ministers signaled that OPEC will maintain production levels when it meets today in Vienna. The oil price on Sep 22 was about $102. real-time price: http://www.bloomberg.com/... ziitrend's oil channel: http://www.ziitrend.com/c...
Comments (2)
|
||||||
Crude oil rose for a fourth day on speculation a proposed $700 billion U.S. government rescue plan for the finance industry may shore up demand. Oil has climbed 18 percent since Sept. 16, the biggest four-day gain since October 2000, as lawmakers pledged fast consideration of the Treasury's plan to buy devalued mortgage- related securities from investment firms. The dollar fell to its lowest in three weeks against the euro, boosting the appeal of commodities as a hedge.