Monday, September 27, 2010
Phil Flynn: The Oil Market Finally Decided To Join The Commodity Rally
With Gulf storms seemingly not a threat to supply and the fact that a falling dollar really does not matter that much to this market, gas could start to fall even harder. The trade likes to play crude off of the gas market and that should lead to further downside pressure. Do you remember when OPEC seemed to matter? Dow Jones reports that the Organization of Petroleum Exporting Countries is unlikely to change production quotas at its next meeting in Vienna, scheduled for Oct. 14, as current oil prices are "comfortable," Kuwait's Oil Minister said Monday. Sheikh Ahmad Abdullah Al-Sabah added that he isn't concerned about global crude oil demand but is worried about.....Read the entire article.
Let’s Get Some in South America....watch "Let The Carnival Begin!"