November 5, 2004
THEY SURE AREN'T FALLING BECAUSE W WILL CUT CONSUMPTION:
Oil slides to lowest levels in 6 weeks (Daily Star, November 06, 2004)
The dramatic rise of oil prices seems to have been checked after riding at record highs for six weeks on Friday.Posted by Orrin Judd at November 5, 2004 5:41 PMPrices slid on the back of a continuing fund-led selling spree that has knocked 13 percent from last week's record highs as rising stockpiles have eased worries of a winter supply crunch.
U.S. light crude fell 52 cents to $48.30, the lowest level since Sept. 24. London Brent crude fell 33 cents to $45.68 a barrel.
Just Soros ending one of his ineffective plots.
Posted by: PapayaSF at November 5, 2004 8:53 PMGeorge is bleeding off his futures contracts and making up the millions he spent on the election that largely went to the MSM. Where's James Bond when we need him? Goldfinger has returned.
Posted by: genecis at November 6, 2004 11:25 AMSo now you're happy with $48 oil? Six months ago you thought that was impossible.
Speculators aren't keeping oil so high, it's the consumption, Stu! Look at the oil price chart for the last 4 years. Oil bottomed in 2002 and has been tracing a very orderly upward trend since then. The trend is up. Speculators don't cause the trend, they ride the trend.
Posted by: Robert Duquette at November 7, 2004 12:27 PMIt'll keep going down. VZ is acting more normal, China is in turmoil, Iraq is near peace...
Posted by: oj at November 7, 2004 12:35 PM