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Commodities Corner: No Rest For The Wicked…Or Gas, Corn and Silver
Welcome to another installment of our bi-weekly round-up of what’s been happening in the world of commodities. Once again, there’s been no shortage of wild action, so let’s get right to it.
Oil Resting For The Moment
The energy markets took a much-needed breather and retracement over the last few sessions. Since the oil market was reaching unsustainable heights, this was bound to happen, and it did.
Whether it continues to regain its lost ground and make newer all-time highs is yet to be seen, but it is still driving all the other commodities markets at this time.
Crude oil topped out at $147.27 /barrel…
22Jul2008 | Smart Profits Report | Comments Off | ContinuedInvesting in Commodities
Most of us Americans are so accustomed to a world of plenty; we have a hard time imagining a world of scarcity — much less making investments based upon this idea. But the energy markets provide a very powerful example of what happens when resources become less plentiful.
Five years ago, almost no one believed that oil prices would soar past $30 per barrel. $50 seemed utterly unthinkable. As oil prices continued climbing, so did disbelief. The skeptics never abandoned their misguided notion that oil was “overpriced.†So when crude retreated from $75 to $50 early last year, the prospect of…
23Jun2008 | The Penny Sleuth | Comments Off | Continued
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