Oil tumbles on worries swine flu may halt economic recovery

Oil futures fell nearly 4% Monday, as the outbreak of a deadly swine flu raised concerns over the prospects for a global economic recovery.
Crude oil for June delivery dropped $1.84, or 3.6%, to $49.71 a barrel on the New York Mercantile Exchange. Earlier, the contract slumped nearly 7% to hit an intraday low of $48.01 a barrel.

"Fear is dominating the cyclical commodity markets today, as investors are concerned that the spreading of swine flu in Mexico may severely damp hopes of an economic recovery," said analysts led by Eugen Weinberg at Commerzbank in a note to clients.

&dist=google]Full Article Here

I can't believe oil prices are being effected by the swine flu... i mean c'mon this makes no sense, what are these guys trying to pull? ... i thought it would be companies who sold pork products that would be more likely to see a change in their prices ...

what are your thoughts?

[edit on 27-4-2009 by baseball101]

Originally posted by baseball101

Oil futures fell nearly 4% Monday, as the outbreak of a deadly swine flu raised concerns over the prospects for a global economic recovery.
Crude oil for June delivery dropped $1.84, or 3.6%, to $49.71 a barrel on the New York Mercantile Exchange. Earlier, the contract slumped nearly 7% to hit an intraday low of $48.01 a barrel.

"Fear is dominating the cyclical commodity markets today, as investors are concerned that the spreading of swine flu in Mexico may severely damp hopes of an economic recovery," said analysts led by Eugen Weinberg at Commerzbank in a note to clients.

&dist=google]Full Article Here

I can't believe oil prices are being effected by the swine flu... i mean c'mon this makes no sense, what are these guys trying to pull? ... i thought it would be companies who sold pork products that would be more likely to see a change in their prices ...

what are your thoughts?

[edit on 27-4-2009 by baseball101]

Of course it makes sence if the plan all along was to steal all the stimulus money.. Think about it !! 'Oh dear, there is a flu, and there went our bailout money'..