Oil is tumbling
At last check it was nearing $115 a barrel, which is down more than $4 on the day. A stronger dollar is being cited for the drop-off, but what's interesting is that it's happening despite Russia sending troops into a breakaway region of Georgia, a key energy transit region. That kind of global scare would normally have the markets on edge, but not today. With an hour of trading to go, stocks are up more than 300 points. (NYT, Bloomberg)
12:00 PM Friday, August 8 2008 • Link
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© 2003-2008 • About LA Observed • Contact the editor
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