The MOONBATS are ticked off...
Posted on 09/06/2006 12:04:02 PM PDT by kellynla
LONDON (Reuters) -- Oil prices tumbled more than a dollar Wednesday, falling below $68 a barrel and breaking a key support level.
U.S. light crude for October delivery fell $1.15 to $67.45 a barrel on the New York Mercantile Exchange.
For U.S. crude, the 200-day moving average, considered a funds buy/sell trigger, was effective around $67.50.
Prices have fallen by more than $11 from a record of $78.65 hit on Aug. 8 when concerns of supply disruption ran high.
Since then, diplomatic efforts to try to resolve Iran's dispute with the West have eased worries of possible disruption of the OPEC producer's exports.
Iran failed to meet an Aug. 31 decline to halt uranium enrichment or face the threat of sanctions.
Analysts had feared Iran might halt oil exports in response to any sanctions, but traders view the fact diplomacy is still under way as an indication disruption is unlikely for now.
(Excerpt) Read more at money.cnn.com ...
Sinking would be around $30.00/barrel. It is still way too high.
The MOONBATS are ticked off...
From $78-$68 is definately a good trend.
"Cool" he says as he runs to check gas prices.
I've got $2.50 for an average with the lowest price being $2.42 in Jackson Mi.
The longer it stays high, the closer we get to an alternative that will keep oil at $30 a barrel permanently.
I paid $2.48 in Houston yesterday.
Hide the sharp objects at the DNC Headquarters!
This would never of happened if John Kerry was President.
I think the floor is somewhere between $55 and $60, unless we get a Gulf hurricane or escalated problems with Iran. Methinks a good twenty bucks was a fear factor with a bit of speculator manipulation thrown in.
Nationwide, average price of a gallon of gas (regular) down 32 cents over the last month.
Source: www.gasbuddy.com .
We don't need an alternative - we can go at $30.00 for 150 years without importing a single barrel. It is not possible for any alternative to be less expensive.
2.28 here in Corpus.
Too high for what?
"I think the floor is somewhere between $55 and $60, unless we get a Gulf hurricane or escalated problems with Iran. Methinks a good twenty bucks was a fear factor with a bit of speculator manipulation thrown in."
Soros????
$2.34/gal in my neck of the woods (north St. Louis County, MO)
Would that be a good thing?
What if the alternative cost more?
Probably more of an informal confederacy of opportunists than a conspiracy or cartel.
Who were the manipulators and how did they accomplish the manipulation?
Too high for what?
Affecting inflation.
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