Tuesday, September 2, 2008

Crude Oil Falls Through the Floor

Crude Oil fell all the way to $105.44, but has also recovered back to the $108.50 level. Wild markets overnight! Demand destruction is being at least partly attributed to the downside breakout.

Personally, I hope that despite the price collapse in the energy commodity sector, Americans will keep up the pressure on their elected officials to become energy independent, or the United States will soon be back in the same energy pinch that we have seen in the first half of this year!