HEFTY, HEFTY, HEFTY:

Oil ends under $62 on hefty supply, OPEC talk (Myra P. Saefong, Sep 19, 2006, MarketWatch)

Crude futures closed under $62 a barrel Tuesday as a general cloud of uncertainty in the market, concerns over a potential glut in global oil supplies and easing worries about risks to production helped sent the October contract to its lowest level of the year.

Comments from the president of the Organization of the Petroleum Exporting Countries dismissing the near-term likelihood of a production cut probably contributed the largest part of the price pressure Tuesday, said Phil Flynn, a senior analyst at Alaron Trading.

If only W were who Democrats think he is--he could release the Strategic Petroleum Reserves and really drive prices down in time for the election....

Posted by Orrin Judd at September 19, 2006 4:03 PM