Oil prices have been attempting to fight off the bottom of a spectacular crash and until the last week - seem poised to get out of a long term funk. However, the strong dollar and re-surfacing concerns of oversupply have driven the market for oil sharply lower today, well below the 50 DMA.
What does this mean for you, the consumer? Will lower prices at the pump actually stick this time or will this just be a blip on the radar?
The biggest component of this move I feel is the strong dollar. As that is tied to the fortunes in Greece, yes - I believe this will be a short term blip on the radar. Don't expect much in the way of relief at the gas pump.
What does this mean for you, the consumer? Will lower prices at the pump actually stick this time or will this just be a blip on the radar?
The biggest component of this move I feel is the strong dollar. As that is tied to the fortunes in Greece, yes - I believe this will be a short term blip on the radar. Don't expect much in the way of relief at the gas pump.