To: TLI
That price is only WTI. Brent and ME crude are still at $42-$44.
I think this price drop of WTI reflects the strength of the USD relative to the rest of the world more than a big drop in demand... We still import 65% of our oil needs.
19 posted on
02/12/2009 8:21:33 AM PST by
PugetSoundSoldier
(Indignation over the sting of truth is the defense of the indefensible)
To: PugetSoundSoldier
The following months, including WTI, are all showing traders expect prices to climb but there is currently too much oil in US storage relative to immediate demand.
25 posted on
02/12/2009 8:37:22 AM PST by
thackney
(life is fragile, handle with prayer)
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