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Oil Slick: Crudes Falling Again, But Why?

Posted on October 02, 2008

Well, so much for an immediate crude-oil bounce from fresh progress on the Wall Street bailout. Crude is in full retreat, dipping below $95 a barrel, despite the Senates endorsement of a revised financial rescue plan. So the big question is: What is really driving oil pricesthe dollar, or demand?Keep your footing (AP)First, the bailout package was seen as too little, too late, driving oil prices down. Then, when the House shot down the rescue plan, oil markets got even more nervous and plummeted, fearing a full-blown U.S. recession that would see people burning their SUVs to keep warm. So why ...

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demand , economy , european