Most news reports including the one that we have linked to below, indicate that oil shows no signs of falling. Although the reports have seem to be logical they lack seeing the obvious. When a recession takes hold demand will fall. It’s that simple. Also, Cheney should have some success next week increasing output from the Saudis. In addition, the recent run-up is mainly associated with trading volatility. Traders will also make money when it falls hard.
To read a related article, please click here:
http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=&xml=/money/2008/03/12/cnoil112.xml
Jim Sutliff