What Tropical Storm? Oil Falls Below $120

What Tropical Storm? What Iranian threat to close the Straits of Hormuz? What kidnappings in Nigeria?

In mid-day trading, oil has fallen below $120.  Every news wire is is listing the same 4 reasons that they said were holding oil steady around $125. The evidence of increased output by OPEC is apparently winning out now over the weather, Iranian saber rattling, and Nigerian rebels.

See Also:
Oil Steadies At $125, But Here Comes Another Tropical Storm

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