Crude Oil Price on Sep 8, 2008

• 58%
  accuracy

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In the entire August, the market talked about how cheap oil could get cheaper. The currency traders are chalking up the dollar's second straight day of gains to the hope that lower oil prices will jumpstart the American economy. That could create a kind of virtuous circle: Economic growth bolsters the dollar, and the stronger the dollar is, the less attractive crude is as a hedge against inflation.

Analysts said the market's inability to rally in the face of bullish news such as threats to energy supplies from Russia's invasion of Georgia and another tropical disturbance suggests that crude remains in a downward trend. Crude oil has dropped about $30, or 25 percent, from record trading levels above $147 a barrel reached last month.

The oil price on Aug 26 was about $115.
real-time price: http://www.bloomberg.com/...

Community Prediction in Chance

Community Accuracy:  58%

Top Predictor:   dcpik (100% Accuracy)

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Rank Accuracy A >= 90% B >= 80% C >= 70% D >= 60% E >= 40% F < 40%

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	ZiiValue (chance)	Answer	MyValue (0% to 100% chance)	Possible Outcomes
	1%			> $130
	8%			$120 - $130
	42%			$110 - $120
	46%			$100 - $110
	4%			< $100

STEP 2:  Comment

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