Oil prices may finally be getting acquainted with reality. After clipping an eight-month high earlier today, crude prices tumbled more than 2% to close below $70 a barrel.
Given the shaky consumer-confidence reading this morning, primarily attributed to higher gasoline prices, a drop in oil prices would be welcome. And it may be in the offing following a 41% gain in prices during the second quarter.
The oil market has not exactly focused on fundamental supply and demand issues during the...
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Martin M.
