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New Second order effects begin to roll in
[link|http://www.marketwatch.com/news/story/story.aspx?guid=%7BB11E7CD4%2D9037%2D4267%2D8183%2D89908CB77796%7D&siteid=rss|Market Watch]
"You're seeing traders continue the fear trade that demand will not be as great considering the recent large size sell-offs in the global market place and the recognition by central banks that this subprime issue is more than just a U.S. issue," said Zachary Oxman, senior trader at Wisdom Financial, in emailed comments.
"As long as we continue to see global volatility and until the banks and brokerages can assign a true value to the billions of dollars worth of subprime and CDO paper out in the market, you'll continue to see downside volatility in crude as each day brings more bad news to the markets," Oxman said. "Money seems to flow out of the crude complex to meet margin requirements and generally free up cash for other trading activities amongst other things."

In addition to fear of US economic slowdown, hedge funds and speculators are being forced out of the oil market by the credit crunch.

Jay
New there is a reason chavez is trying to lock in $50 long term
contracts. Oil prices are sheer speculation above supply, demand and costs
thanx,
bill
Quantum materiae materietur marmota monax si marmota monax materiam possit materiari?
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 51 years. meep

reach me at [link|mailto:bill.oxley@cox.net|mailto:bill.oxley@cox.net]
     Dow and global markets plunge - (JayMehaffey) - (9)
         Banks intervene to prop up credit markets - (JayMehaffey) - (1)
             Yeah, and the only stock I have going up . . . - (Andrew Grygus)
         Feds intervene in US market as US market continues drop - (JayMehaffey) - (4)
             the feds need to leave it alone - (boxley) - (2)
                 Very true - (JayMehaffey) - (1)
                     Some "circuit breakers" that kick in if things fall too much - (Another Scott)
             thank you oh fed, for the inflation we are about to receive -NT - (boxley)
         Second order effects begin to roll in - (JayMehaffey) - (1)
             there is a reason chavez is trying to lock in $50 long term - (boxley)

You keep using that word, but I do not think that it means what you think it does.
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