Oil prices

[cantthinkofanything]

So the European debt crisis is "contained" and oil rises over $7 / bbl. Seems rational.

[CosmicCowboy]

Traders covering shorts on the last day of the quarter.

[cantthinkofanything]

Traders covering shorts on the last day of the quarter.

Maybe exacerbated it a little but it doesn't explain +$7 imo. I guess we'll see next week.

[CosmicCowboy]

Maybe exacerbated it a little but it doesn't explain +$7 imo. I guess we'll see next week.

Euro up 2% against the dollar(dollar down) did the rest. When the dollar goes down it takes more dollars to buy oil.

[cantthinkofanything]

Euro up 2% against the dollar(dollar down) did the rest. When the dollar goes down it takes more dollars to buy oil.

I don't think that relationship is driving the boat right now. The dollar fell pretty sharply vs Euro late last month - early June while oil continued to fall.

[CosmicCowboy]

OK, you win. It's the greedy oil companies.

The Bas s!

[cantthinkofanything]

OK, you win. It's the greedy oil companies.

The Bas s!

LOL. What???? I'm not against the oil companies.