The EIA report this morning was bullish for crude oil today. Now that prices have fallen, traders are worried that slackening demand will increase again as gasoline falls below $4 at the pump, and crude oil prices are somewhat higher today as a result. This was undoubtedly the great factor in the downside breakout in the stock indexes, too.Wednesday, July 30, 2008
Crude Oil Rallies Today
The EIA report this morning was bullish for crude oil today. Now that prices have fallen, traders are worried that slackening demand will increase again as gasoline falls below $4 at the pump, and crude oil prices are somewhat higher today as a result. This was undoubtedly the great factor in the downside breakout in the stock indexes, too.
