Tuesday, July 15, 2008

Oil falls below $139..

Rivka flash: "Oil Sinks Below $139.00"!!

But of course we mustn't forget what plays a huge part in driving the price up: Worry and fear over what Iran may or may not do. So watch for Iran to do something like set up another phony missile launch or some other dumb thing to cause us to freak and the price of oil to go back up.

Nevertheless it is good news especially if commodity investors sell their oil contracts to cut their losses and once it drops to a certain level it could be an uncontrollable thing and could drop dramatically. I could be wrong because I am not knowledgeable regarding every aspect of how this works, but if it happens and it goes down, it could drop faster than it ever has historically due to the commodity market stop loss. But hey, then again who knows what will happen.

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