Thursday, July 3, 2008

Oil Only at $145: So Much For Morgan Stanley's $150-By-July 4th

Headline by Clusterstock, chart and comments from The Big Picture:

Wow -- this is amazing. It shows no sign of stopping, which of course, it eventually must.

Here's a question -- at what point does ECB Central Bank Chief Trichet realize that every time the ECB hikes rates, it pummels the dollar and sends oil higher?

Let's rename this the Trichet Oil Rally!

Crude Oil, August Futures