Monday, August 14, 2006

Latest Meaningless Oil Price Information

I am going to start a regular feature here tracking all the latest "news" and "explanation" regarding the price of oil and plot it on the chart. Here is today's "explanation":
Oil prices fell as much as $1.75 a barrel Monday as a cease-fire began in Lebanon and investors responded to news that BP expects to maintain half of its production at a large oil field in Alaska despite a pipeline leak.
Click on image for a clearer picture.

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