OK, now the price of oil has fallen below $42.00 a barrel. This in spite of the fact that Iraq's southern oil terminals have been stopped by terrorists who attacked parts of Iraq's main southern pipeline. If we were to follow the usual pattern of behavior in the oil futures markets, it should have sent prices skyward once again. It didn't and the price continues to fall.
A million barrels of oil per day have been taken out of the equation, and the price drops?
What kind of crock is being pulled on us?
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