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Oil prices are falling

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w¡n9Nµ7 §£@¥€r Grand Master

w¡n9Nµ7 §£@¥€r   123

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Oil prices fell as much as $6 a barrel Tuesday, hurling crude back to levels not seen since June 26 as traders ... cashed in gains from oil's recent rally.

...

Analysts attributed much of the recent sell-off to profit-taking, saying traders were cashing in on the previous week's gains. A stronger dollar also helped keep prices lower by discouraging investors from pumping more money into commodities.

At the same time, concerns about global oil supply disruptions subsided.

...

Analysts warned the pullback could be fleeting.

"For the time being it's what we call corrective. ... It's a profit-taking pullback that could still be followed by fresh highs down the road," said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates.

http://biz.yahoo.com/ap/080708/oil_prices.html

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Sheriff Uling Experienced

Sheriff Uling   3

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Oil prices are only falling in Saudi Arabia... :devil:

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