Crude inventories surged 150% to 3900k barrels on expectations of 1500k. Wow. I guess people don't like 4 dollar gas. The CFTC raised margin requirements on speculators after 17 Congressmen whined about high gas and oil prices. They said they can't understand these outrageous prices when demand has all but fallen away. No shit.
Interesting that nobody ever mentions that oil is priced in worthless dollars. That might have something to do with it- Washington brainiacs. Hmm...let's see... oh the dollar is up...crude is down...
Just had to include this snip from wiki for all of the Canes-Ee-yuns out there. (Keynes) The Moonbats think this shit is gospel. Keynesian economic theory proposes that changes in money supply do not directly affect prices, and that visible inflation is the result of pressures in the economy expressing themselves in prices.
If that were true, we might never have heard of currency exchanges, Weimar, or Zimbabwe. Or precious metals. Keep printing away Moonbats...Keynes just has to be right...doesn't he?