Quote:
Originally Posted by Quixote's Revenge
Psychology...plain and simple.
Did more oil hit the market?
Did fewer people buy?
No....the supply and demand stayed the same.
Simple short term profiteering. Cause the price to drop today, stock-up, then sell it again in two weeks.
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If congress allows it, there will be more oil.
Yes we consumed 2% less oil (that's a really big number)
Also, the market trades on news, not actual numbers. So him saying that could have had an impact. However, I think the 2% decrease in consumption played a much bigger role.