DailyMarkets.com - Oil = Ughhh! |
| Posted: 06 May 2011 07:37 AM PDT Yesterday’s bout of selling in the oil patch was rather unpleasant and quite unexpected. About 3 months worth of gains were wiped out in a single day. Uggh. I am not sure why the sell off occurred nor did I see any specific news. The Dollar was up but it will take more than one day to erase the current down trend. The Middle East premium is still there and maybe more so. I know speculators are being “targeted”, but these are just code words by our “central … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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