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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.

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Oil drops below $67 originally appeared on BloggingStocks on Tue, 28 Jul 2009 18:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>consumer confidenceConsumerConfidenceearningsearnings seasonEarningsSeasoneconomyGDPmarketwatchoiloil chartoil demandOilChartOilDemandrecessionunemploymentTue, 28 Jul 2009 18:30:00 EST