Nothing happening in the field of oil this past week. it's almost like the news has stagnated the markets somewhat.
From what I hear out there, there's still a bone of contention on whether there's a slowdown in the world economy again, and that may be part of the problem why any increase in oil prices has also stalled; until there is concrete news on unresolved financial issues worldwide. July 23rd is probably the date that everyone, investors included, is waiting on. It seems that countries like Spain, Greece and Italy will face the biggest test in handling their own debt and any resolution to their own financial crisis, the results of part of that test becoming known on that date.
Portugal, part of the European union's financial bailout just two months ago, faces an even deeper means test, all while Moody's has downgraded their credit rating again just last week.
In the meantime, here's what I have for this weeks price changes for Thursday coming:
- Heating and stove oils will increase by 79/100ths of a cent.
- Diesel shows an increase of 8/10ths, and...
- Gasoline shows an added 5/10ths, just a half cent.
It's been really busy around here the past couple of weeks, and it's bound to get busier with all the things going on. Some of you know what's on the go. i just want to thank the lot of you for keeping us all in your thoughts and prayers!
I'll be here next week!