WTF!? Did oil drop to $50 a barrel today???

reply to post by srsen


Oil has plummeted to below 100 dollar a barrel in addition to Gold and Silver taking a massive dump as well.. I have not really seen anything that would trigger these drops as of yet... It is intresting though.

blogs.forbes.com...

Rex Tillerson, the boss of ExxonMobil admitted last week that the price of oil–based purely on supply and demand- should be in the $60 to $70 a barrel range. The reason it’s above $100 a barrel, Tillerson explained, is due to the oil majors using futures contracts to lock in current high prices, and speculation that is engineered by the high-frequency trading of quantitative hedge funds.

So then...