At the end of last week, oil was at $145 and heading to $150. Now, just after the Wall Street Journal scared the hell out of people with another $200 oil/$6 gas article, it’s down about $9 to $136. The reasons du jour:
- anticipated weakness in demand (thanks Boone Pickens)
- Iran’s president downplayed concerns about possible war in the Middle East (maybe he finally realised his war rhetoric was also killing his customers)
- a strengthening dollar
- Hurricane Bertha predicted to miss Gulf of Mexico
- the G-8 has decided to make energy efficiency a top priority (thanks, guys)
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