Yay!
NEW YORK (AP) -- Oil prices slipped Monday as Hurricane Ike weakened over Cuba and the U.S. dollar strengthened.That's "Yay" that oil is falling. Not "Yay" that a hurricane hit Cuba.
...Light, sweet crude for October delivery fell 64 cents to $105.59 by midafternoon on the New York Mercantile Exchange, after rising as high as $109.89 a barrel and falling as low as $104.70.
Crude has plunged about $40, or 27 percent, since surging to a record $147.27 a barrel on July 11.
Tell you what, if I were a commodities broker, I'd be getting out of oil. I mean, how long do you wait, when clearly, the bottom is falling out?
Time for a little irrational exuberance, exit-wise, if you ask me!
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