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We'll ask the question again - has oil topped out? Isaac and the ECB couldn't get oil to extend...

We'll ask the question again - has oil topped out? Isaac and the ECB couldn't get oil to extend its rally. Now Beijing and the Fed enter the picture and WTI crude falls 1.3% to $94.33 even as other stimulus-sensitive commodities get lit up bright green. (previous)
Comments (2)
  • Ray - Kitchener
    , contributor
    Comments (74) | Send Message
     
    Who knows? The jobs report was pretty bad, so maybe someone in the Fed has done the numbers, sees lower GDP coming and realizes that higher Oil prices will only make it worse. There was a large drop yesterday, despite the rally and a lower $US. Someone big must have been dumping Oil. It would not surprise me that the Fed is attempting to manipulate the price of Oil downward. We are not in a free market, thus your question cannot be answered. Why is Gold, Silver and all metals up, yet Oil and Nat gas are moving the other way with the $US tanking? Manipulation period!
    7 Sep 2012, 10:40 AM Reply Like
  • DAVIDTRITH123
    , contributor
    Comments (5) | Send Message
     
    Fading this shady reporting seems to be the way to go. We've bounce almost two dollars since this posting.
    7 Sep 2012, 05:51 PM Reply Like
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