Brent Crude Falls $3.74 to $103.54/bbl
Brent crude fell on "surpluses" but mostly due to EU economic collapse and bank runs prompting futures to drop. Futures markets for crude are essentially betting that currency messes associated with Southern Europe dropping the Euro and Defaulting their debts will greatly reduce demand for crude oil, or rather the ability to pay for crude oil anyway. Ironic that post-Memorial Day gasoline price drops make for a rather peculiar record. This being an election year in the USA, and the impact a lot of manipulation of the market by political figures and the capitalist demagogues who own them, means US crude prices similarly dropped $3.20/bbl as well to $87.58. I would not have predicted that, but strengthening of the US dollar is occurring as flight from the Euro continues. Eventually Euros are going to crash.
What will Top Gear be like when there's fuel rationing in the UK and nobody has money for supercars?
What will Top Gear be like when there's fuel rationing in the UK and nobody has money for supercars?