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Oil drops below $67

Posted Jul 28th 2009 6:30PM by Michael Fowlkes (RSS feed)
Filed under: Earnings Reports, Forecasts, Market Matters, Money and Finance Today, Economic Data, Oil, Housing, Recession, Financial Crisis

Falling Oil PricesThe past two weeks we have seen oil prices steadily trade higher, but the sellers came out today in reaction to rising concern over consumer confidence and pushed prices lower.

Oil dropped under $67 a barrel today as Wall Street learned that consumer confidence had dropped for the second straight month in July. A major reason for low consumer confidence can be attributed to rapidly rising unemployment in the country.

Continue reading Oil drops below $67

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