Thursday, August 14, 2008

Another Oil-Fueled Rally

After a strong surge in oil prices yesterday, based upon reduced inventory data from the U.S. government, oil has sold off somewhat today, fueling a stock market triple-digit rally on the Dow. Today's natural gas storage figures showed increased storage as forecast, leading to falling prices that have also affected the crude oil markets. However, crude oil prices are still higher than they began the day yesterday. Georgian officials have indicated this morning that Russian missiles struck the BP oil pipeline yesterday.

Crude Oil
Dow