Tuesday, August 19, 2008
Oil news of the day
Oil prices have fallen for four straight days notwithstanding a hurricane in the Gulf of Mexico.
Crude for September delivery fell 79 cents, or 0.7%, to $112.08 a barrel in early electronic trading on Globex. Crude has lost $4, or 3.4%, in four sessions. The September contract will expire Wednesday. October crude futures lost 0.5% to $112.35.
Oil fell when the Russians bombed the Georgian pipeline, and it fell when a hurricane swept through the Gulf. The summer driving season is almost over. Perhaps Americans won't freeze in the dark after all.
2 Comments:
By 
Mrs. Davis, at
Tue Aug 19, 11:40:00 AM:
Perhaps not freeze, but I still expect to read about a lot of deaths in houses heated by open flame kerosene fires.
By 
, at
Wed Aug 20, 12:05:00 AM:
I think this means George Soros is out of money.
