It's no wonder stocks have plunged! Crude oil has take off again! Crude oil is crashing the stock rally party today! After holding support well above $120, crude oil bulls have stampeded higher again. Crude oil has surged $6 today alone!
This may have also fueled the fire of higher corn and soybean prices, since the two seem to follow crude oil when it moves higher! They're fuel after all, not food, anymore! This bull trend could really gather steam if poor crop weather continues to fuel corn and soybeans higher while the threat of a hurricane adds moment to record crude oil prices!
It could get ugly!
Thursday, June 5, 2008
Crude Oil Can't Be Contained
