03-17-2015, 04:52 AM
Oil less than $43 today and they have run out of storage to put all the oil.
Remember this when in a short time they say there is no oil.
3-16-2015
Oil plunges to a 6-year low. Is $30 a barrel next?
Crude plunged 4% to as low as $42.85 a barrel on Monday. That's the lowest price since March 2009 and marks the fifth consecutive day of losses
This should bring smiles to the faces of the millions of American drivers who have watched gasoline prices creep higher in recent weeks.
What's fueling the latest plunge? The world still has too much oil. The supply glut that sparked the dramatic crash in crude from $100 a barrel last summer to under $50 in January remains. Oil settled at $43.88 on Monday.
Strong dollar, weak oil: At the same time, the U.S. dollar continues to skyrocket at an even faster pace than anyone expected. One dollar is now nearly worth one euro, and Goldman Sachs thinks the euro could plunge to just 80 cents by the end of 2017.
A stronger greenback is bad for oil prices because the black stuff trades in dollars. So when the dollar strengthens, it makes oil more expensive for foreign buyers whose own currencies are weaker.
Remember this when in a short time they say there is no oil.
3-16-2015
Oil plunges to a 6-year low. Is $30 a barrel next?
Crude plunged 4% to as low as $42.85 a barrel on Monday. That's the lowest price since March 2009 and marks the fifth consecutive day of losses
This should bring smiles to the faces of the millions of American drivers who have watched gasoline prices creep higher in recent weeks.
What's fueling the latest plunge? The world still has too much oil. The supply glut that sparked the dramatic crash in crude from $100 a barrel last summer to under $50 in January remains. Oil settled at $43.88 on Monday.
Strong dollar, weak oil: At the same time, the U.S. dollar continues to skyrocket at an even faster pace than anyone expected. One dollar is now nearly worth one euro, and Goldman Sachs thinks the euro could plunge to just 80 cents by the end of 2017.
A stronger greenback is bad for oil prices because the black stuff trades in dollars. So when the dollar strengthens, it makes oil more expensive for foreign buyers whose own currencies are weaker.