Chronicles Of Depression 2.0: #145

Oil down more than $8 in 2 days

NEW YORK (AP) — Oil prices fell as much as $6 a barrel Tuesday, bringing crude down $10 this week and hurling prices back to levels not seen since June 26. Traders, keeping a wary eye on the global economy, cashed in gains from oil’s recent rally.

A barrel of light, sweet crude for August delivery fell $6.23 in morning trading on the New York Mercantile Exchange, following a $3.92 slide on Monday, and later traded down $5.79 at $135.58. The market’s bearish turn this week erases, at least for the time being, the effect of a rally that pushed prices past $145 in a string of record-setting sessions before the Fourth of July.

I’m waiting to see this reflected at the pump, where actual human beings become involved.

I checked the pump prices this morning. No change from July 3rd.

Previously here:

Chronicles Of Depression 2.0: #108

Oil: Price Crash Coming?

Explore posts in the same categories: C.O.A.T. - Scams, Depression 2.0

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