Quote:
Originally Posted by Donger
Lots of things, IMO.
The dollar is gaining strength.
Demand is decreasing here.
Etc.
Just a hunch, but I think that folks are starting to realize that crude was way overvalued at $140+ and that the bubble may have begun to burst.
|
I agree with this. People just quit driving as much, and when they had to, they used the most efficient vehicle that they have in their garage, planned their trips etc.
That, the fear of our economy lessening demand further scared the speculators. Very real grounding of Jets, quantifiable numbers that showed the driving was less, and the market turned bearish.
That, and the fact that oil has become a serious issue on the Hill, has spooked the market for oil temporarily.