Posts Tagged ‘oil’
For those of us who are wondering why the days of declining prices at the gas station have ended, a look at the 1 year chart of crude oil will give us an idea.
From a high of $147/bbl, oil has dropped to a low of $35/bbl a few months back and that seems to be [...]
I thought everything including the kitchen sink was flying out the window while the market disintegrates. How wrong I was after I saw a key reversal day by OV on Tuesday.
A bullish outside day with heavy volume presented itself to signal traders that there could be an opportunity despite the meltdown. Probably a quick 3 [...]
Back in the quagmire again?
Crude oil futures jumped more than $16 a barrel last Monday, recording the biggest one-day gain in dollar terms since 1984 (when crude began trading on the New York Mercantile Exchange).
Factors that contributed to the spike:
Steep drop in the U.S. dollar
Increasing hope that the U.S. government rescue plan will serve as [...]