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Oil Price Plummets Nearly 4% on Job Cut Report
Crude oil futures plummeted nearly 4% today (Thursday) – reaching their lowest point in a month – after a disappointing jobs report ignited investor fears that the U.S. economy’s rebound may be further off than most thought.
A strengthening of the U.S. dollar against most other major currencies also weighed heavily on crude-oil prices.
The U.S. Labor Department said today employers slashed their payrolls by a larger-than-expected 467,000 in June – about 44% more than the drop of 325,000 that had been expected, according to a survey of economists conducted by MarketWatch.com. That followed a work-force reduction of 322,000 in May.
August crude…
3Jul2009 | Money Morning | 0 comments | ContinuedGet On the Other Side of the Pump
If there’s one thing I’m certain of, it’s that casino owners don’t have a soft spot for gambling addicts.
In the same vein, auto body shops don’t want you to drive safely and Norton and McAfee don’t give a crap who’s hacking into your computer (and are probably hoping it continues).
You shouldn’t feel bad either. In our free market economy, no one is stopping you from profiting from oil the same way the big boys do.
Currently, the price of a barrel resides right at $100. That’s a 32% discount from the high only two months ago. Admittedly, I didn’t even think…
12Sep2008 | Oxbury Research | Comments Off | Continued
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