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The Daily "Oil Lower Than" Post: $53 [Update: $52]
Not only are crude oil futures continuing to sell off (driving down close to $52 per barrel), but natural gas futures have simply cratered today, currently trading 6% below yesterday's close.
The 1-2 punch of falling oil and this morning's encouraging jobless numbers has sent the Dow above its all time high closing price.
Further, with mild weather forecasts punishing oil's fundamentals and with talk on Wall Street of investors increasingly betting on additional sell-offs, the downward move appears to have become somewhat self-sustaining.
Previously:
All's Well When Oil Swells; Now Below $54
Oil Below $55
Oil Below $57 [Update: Below $56]
Oil Below $58
Update: Now below $52 per barrel
Handcrafted by Flip on January 11, 2007 |
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