Death comes to us all. Life's but a walking shadow | Two reports today which suggest that the slide in crude oil & gasoline prices may be over.
The first was the previously discounted rumor that Russia and OPEC might be coming around to the view that "enough is enough" seems to be building credence. http://www.reuters.com/article/us-global-oil-idUSKCN0VO01K
The second was this :"A few refineries have already announced production cuts as it isn't worth it for them to produce RBOB currently," said Jeff Pelton, GasBuddy.com senior petroleum analyst. "That, coupled with upcoming maintenance and the looming specter of summer (reformulated) gas all bode poorly for gas prices to get any better than they currently are."
The fact that they couldn't completely kill that rumor when it came out last weeks may mean that there's some truth to it. |
Bottom in crude?
