Oil Down To $119

In early morning trading, oil is near $119 a barrel. Today’s factors:

  • crappy US economy
  • speculation that wimpy Tropical Storm Edouard will leave US oil rigs and refineries undamaged
  • U.S. gasoline stockpiles 3% above their five- year seasonal norm at 213.6 million barrels
  • dollar at six-week high against the euro

See Also:
$4 Gas Is No More

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