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NEW YORK (AP) -- Wall Street extended its sharp decline Wednesday as oil prices stubbornly climbed to new record levels, keeping investors' inflation jitters alive. The Dow Jones industrial average was down nearly 100 points.
Originally posted by MikeboydUS
Something very weird is going on with food, oil, and metal speculation. Something that has me very worried.
Originally posted by worldwatcher
who are the speculators???
Originally posted by Christian Voice
I am curious as to why the petroleum prices are rising. ?
This is the 'crude' fundamental driving oil prices: Global demand crossed global production three years ago. The congressional - media war on speculation, is nothing short of an election year witch-hunt. We have developing nations hording food...oil producing nations hoarding oil...and congress threatening OPEC and the CFTC. All of these gubmn't interventions are doomed to result in future market dislocations...and even higher prices. Word.
IEA worried over oil supply
By ANGELA CHARLTON – 2 hours ago
PARIS (AP) — A leading global energy monitor said Thursday it is worried that demand for oil will outstrip world supply and is preparing a landmark revision of its closely watched forecasts. Full Text