the_lazy_observer

Reality Hits Oil Market, Dollar Could Benefit

oil is lower because credit is drying up. the extraordinary rise in oil prices was fuelled by speculation, which is funded by cheap credit. with the credit crunch, all that is drying up. if the speculators can't find cheap credit, or in fact ANY credit, to buy oil, the prices will probably go down to a more realistic level -- prices before the credit bubble era.