Hey, Great News: $136 Oil!

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)

See Also:
Boone Pickens: Oil To $100 In 2 Years on Demand Collapse

$200 Oil and $6 Gas Just Months Away

Who’s Responsible For $150 Oil? A List of the Actual Villains

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