Oil drops to 54 bucks
Generally I don’t watch commodities, but since I got a $900 natural gas bill (my whole house uses gas – gas water heater and gas heat) a couple of years ago – I am more prone to take notice as to the price level of natural gas. I think it is hovering in the $6-7 level now, but it seems the real story is oil. Apparently (since I don’t have any real data on crude), oil closed below $55 today – almost below $54 – breaking some long-term support. Excellent! I say that only as a consumer, not a trader (which I am not a trader and have not been a trader in years). Over the summer it seemed that $100 oil was more likely than $40 oil. Hmmmm… What does everyone think now?
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