Oil Price Drop – CNN.com Gets it Wrong (Again)

http://money.cnn.com/2008/08/04/markets/oil/index.htm?postversion=2008080412

The fall in oil prices since mid July has nothing to do with demand, tropical storms, Iran, offshore drilling, etc. and everything to do with the June 24/25th and July 16th fed meetings where an interest rate hike was mentioned.  As originally seen on BccList.com here

Oil and gas prices are only going to get “better” especially if the fed actually makes a move to hike the interest rate.  We can only hope.

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