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

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posted on May, 10 2011 @ 12:53 PM
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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.




posted on May, 15 2011 @ 12:57 PM
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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...



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