The lows of the year didn't hold and West Texas Intermediate Crude Oil is testing 46 on the downside in early trading. Can the all important mark of 44/45 hold or will the next leg down begin soon? The question of the day - what does this crash in oil mean for you, gas prices, and the economy?
First - This will mean lower gas prices. The input cost of oil continues to drop and soon you will see the gas prices melting to the lowest levels of the year.
As to what this means for the economy - oil is at current the lifeblood of American capitalism. What does it mean for the 'lifeblood' to be on sale and STILL nobody wants to buy it?
Watch the 44/45 level. It's a line in the sand.
First - This will mean lower gas prices. The input cost of oil continues to drop and soon you will see the gas prices melting to the lowest levels of the year.
As to what this means for the economy - oil is at current the lifeblood of American capitalism. What does it mean for the 'lifeblood' to be on sale and STILL nobody wants to buy it?
Watch the 44/45 level. It's a line in the sand.