SPECULATION

SPECULATION once more as always had a (positive ) effect on crude oil prices, all it took was for the U.S. Energy Department. to say crude oil inventories at the delivery point for the U.S. benchmark grade increased.. amid signs that a slowing U.S. economy may damp fuel consumption in the world's largest energy user.

So what will happen if a recession developed in the U.S...!

Crude oil for January delivery on the New York Mercantile Exchange fell to $96.62 a barrel in electronic trading.

Brent crude oil for January settlement was at $94.29 a barrel, down 55 cents, on the London-based ICE Futures Europe exchange. a Yesterday it reached $96.53, the highest since trading began in 1988, as the tumbling dollar made crude cheaper for foreign investors

If SPECULATION continues then the dollar will slide more, there's still enough momentum out there to finally make the push for $100 a barrel, getting to three figures before the year is out is all but inevitable, and many crude exporters are hoping for that.

The dollar touched $1.4874 per euro yersterday, the lowest since the 13-nation currency was started in 1999.
Crude supplies at Cushing, Oklahoma, where New York-traded West Texas Intermediate oil is stored, rose 1.14 million barrels to 14.6 million last week, the Energy Department report showed. Nationwide, stockpiles of crude oil fell 1.07 million barrels to 313.6 million, said the report, in my view the report was kind of a mixed bag.

So its up to us to force crude prices down, means and ways have to be found to counterbalance the ever present SPECULATION...