Oil is up again as storm Gustav threatens the Gulf Coast or somewhere down south. There are storms every year and almost none of them, in my opinion, have a lasting effect on oil supply. Get over it. As for the prognosticators that view the decline in oil as a signal that global growth is slowing, please consider the fact that people are using less oil when prices are higher. Also, as crude charts are breaking down, financial buyers have less appetite to get long.
If some other asset class begins to outperform commodities, I think we'll see oil below $100.
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