Cliffhanger Friday: Dow takes a nosedive on oil
Surprise, surprise: oil prices have set another record high today.
The impact of oil’s resurgance is felt everywhere, as all three major indexes are trading sharply lower. The Dow has shed over 340 points on news of oil prices rising nine percent today, breaking $139 a barrel.
Did any fundamental change(s) occur in the world of oil supply and demand yesterday? Today? If not, then why the drastic increase? We may have a new “Gas Face” nominee on our hands…speculators.
I will be watching the markets to see how this session ends, tune in next week for the return of the gas face!
Tags: dow, gas face, oil, speculatorsRelated Stories
POSTED IN: Commodities, Economy, Market, News, Uncategorized
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