Wednesday, July 28, 2010

Why did oil go so high today? (Friday, 6/6)?

Games.Why did oil go so high today? (Friday, 6/6)?
A few reasons:





1.) Predictions that oil will reach $150/barrel by the fourth of July, which seems reasonable considering oil went up $11 dollars in ONE DAY!





2.) Israel threatened to attack Iran if it does not stop enriching uranium.





3.) The U.S. dollar continues to weaken on bad economic news. (Job losses, inflation etc.)





So, in my opinion not even this news justifies an extreme jump in prices.Why did oil go so high today? (Friday, 6/6)?
AN INTERNAL REPORT BY gOLDMAN sACHS THAT THE PRICE PER BARRELL WOULD $150 BY jULY 4TH.

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