AI
Wednesday, September 19, 2012 1:01:38 PM
Oil's slide continues, with crude below $93
Several things are pushing prices down. Analysts say traders are taking profits after oil got above $100 per barrel on Friday for the first time since May. Oil has fallen about 7 percent this week.
And there have more signs this week that the global economy is slowing down, which tends to push oil prices down because people and businesses use less energy.
Also, a U.S. government report on Wednesday shows crude inventories rose much more last week than analysts had expected.
http://www.businessweek.com/ap/2012-09-19/oil-near-96-after-boj-eases-monetary-policy
Several things are pushing prices down. Analysts say traders are taking profits after oil got above $100 per barrel on Friday for the first time since May. Oil has fallen about 7 percent this week.
And there have more signs this week that the global economy is slowing down, which tends to push oil prices down because people and businesses use less energy.
Also, a U.S. government report on Wednesday shows crude inventories rose much more last week than analysts had expected.
http://www.businessweek.com/ap/2012-09-19/oil-near-96-after-boj-eases-monetary-policy
My post is for my entertainment, do your own DD before pushing your
buy/sell buttons
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