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Wednesday, June 15, 2011

Oil markets in trouble

Today's sell-off in oil won't do this weeks price change any good, but watch out next week, if the trend continues.

Seems that today, the called slow-down of the US economy and the European Union debt crisis is starting to kick in, as predicted some time ago that it would, and that has sent the oil markets reeling with oil down by $4 US and gasoline down by 16 cents a US Gallon.

Now, if the Canadian dollar doesn't get too dragged down with oil prices, we could see a substantial drop in prices for next week being set up.

I'll be in touch with everyone more often than not with this "crisis" piling in on "Big Oil".

George

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