naturegirl
Gold Member
Not sure if it's really "good" because of the reasons this is happening but it looks like the price of gas just might be going down........we'll see. Forgive me for being skeptical.
News Headlines
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Oil prices were in free fall Friday as worries about a weakening global economy combine with seemingly ample supplies and less fear of a confrontation with Iran.
Traders also point to new margin requirements by the CFTC, announced Thursday. However, those requirements do not go into effect until August, and the bigger factor behind the selling is concerns about a global slowdown.
West Texas crude finsished down nearly 4 percent at $98.49 per barrel, after breaking key technical levels and the psychological $100 mark. WTI has now wiped out all of its gains for the year and is down fractionally for the year and down 6 percent on the week.
Brent crude, the international bench mark, was also tumbling, down 2.5 percent at $113.18 per barrel after breaking through its 200-day moving average of $113.60. It lost 5.6 percent for the week.
News Headlines