This is the one that says "just wait a cotton pickin' minute with all that deflation talk". Oil was brushing $80/bbl last week and anything above $70 will keep the supplying nations happy enough. So with all this doom and gloom talk around the market, would anyone like to explain to me why crude has stayed stubbornly high? And no, it's not a store of value... just a store of speculation.Monday, June 28, 2010
Chart of the day is.....
...crude oil weekly candles.
This is the one that says "just wait a cotton pickin' minute with all that deflation talk". Oil was brushing $80/bbl last week and anything above $70 will keep the supplying nations happy enough. So with all this doom and gloom talk around the market, would anyone like to explain to me why crude has stayed stubbornly high? And no, it's not a store of value... just a store of speculation.
This is the one that says "just wait a cotton pickin' minute with all that deflation talk". Oil was brushing $80/bbl last week and anything above $70 will keep the supplying nations happy enough. So with all this doom and gloom talk around the market, would anyone like to explain to me why crude has stayed stubbornly high? And no, it's not a store of value... just a store of speculation.