No bailout means much cheaper gas
The oil commodity speculators were praying for that bailout. Without it those bastards left the market in droves, thus the price plunged and will go down to $55 a barrel without these predators around, equaling cheaper gas. Sound good? Phone your senator now.
Oil prices rebound above $100 after huge sell-off
By STEVENSON JACOBS, AP Business Writer 35 minutes ago
Oil prices swung back above $100 a barrel Tuesday following a precipitous plunge a day earlier, with a growing consensus among investors that Congress will resurrect a failed U.S. financial bailout plan.
Light, sweet crude for November delivery rose $4.27 to settle at $100.64 a barrel on the New York Mercantile Exchange, after earlier rising as high as $101.40.
On Monday, prices fell $10.52 to settle at $96.37 - the second largest drop ever in dollar terms - after House legislators rejected the $700 billion bailout, stunning investors and raising fears of a long economic crisis that could dramatically curb global energy demand. The Dow Jones industrial average plunged 777 points, its largest one-day point decline ever.
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Oil prices rebound above $100 after huge sell-off
By STEVENSON JACOBS, AP Business Writer 35 minutes ago
Oil prices swung back above $100 a barrel Tuesday following a precipitous plunge a day earlier, with a growing consensus among investors that Congress will resurrect a failed U.S. financial bailout plan.
Light, sweet crude for November delivery rose $4.27 to settle at $100.64 a barrel on the New York Mercantile Exchange, after earlier rising as high as $101.40.
On Monday, prices fell $10.52 to settle at $96.37 - the second largest drop ever in dollar terms - after House legislators rejected the $700 billion bailout, stunning investors and raising fears of a long economic crisis that could dramatically curb global energy demand. The Dow Jones industrial average plunged 777 points, its largest one-day point decline ever.
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