Monday, November 5, 2007

Oil's Recent Rise Not as Familiar as It Looks

From the Washington Post:
Traders, Not Political or Supply Concerns, May Be Pushing Fuel Toward $100
After a week of new records for crude oil prices, the question is: How high can they go?
...Instead, traders who treat oil like any other commodity are widely thought to be driving prices upward, bolstered by a weak dollar and money flowing out of stock markets and other investment vehicles.
...Many veteran oil analysts say this is a bubble....MORE