from http://www.forbes.com/finance/feeds/afx/2005/08/17/afx2183733.html
"At 4.49 pm, new front month October-dated Brent futures contracts were down 1.46 usd 63.60, well off Monday's record of 66.85 usd.
"Meanwhile, US benchmark September-dated contracts were down 1.53 usd 64.55, also well below the record 67.10 set on Monday."
-----
Brent down $3.25 since Monday. Sep -$2.55 since Monday.
The next week could be really interesting in oil futures.
I've been writing all along that at some point, we'll probably see a repeat of 1982. But don't tell that to speculators, doomers or Green extremists because it does not support their agenda.
"Brent down $3.25 since Monday. Sep -$2.55 since Monday.
The next week could be really interesting in oil futures."
it is coming down a bit which is good news. I think it will settle down to about $58 a barrel for the long haul meaning $2.25 price per gallon of gas. The days of huge spike and huge declines is over because of India and China demand. In other words market economics 101, more buyers on the market. The $2.25 price did not seem to slow the economy much but the $2.60 price is going to take a toll. I am in the Northeast and I paid $2.11 a gallon for heating oil. I bought it in early August 2 days before this recent price spike. We in the Northeast get a double whammy of gas and heating oil prices. I thank God I can afford it and when I can't go out to eat as much or go on vacation, I still remember I have a decent home, enough food and am warm.