A combination of relative dollar strength and tightening financial and credit conditions currently weigh on oil prices as global demand is brought into question
barrel. today they sit closer to around 74 to $75 per barrel and that s a massive decline. by the way, that s translateded into fuel prices as well. gasoline prices today for aaa are roughly $3.55 a gallon nationally. they will remember $5.02 a gallon back in early june. so this has been a huge move because of demand concerns and by the way, if you want to link it all together mika was talking about the black friday and cyber monday that they expected to have today. those lower fuel prices are expecting to power consumer spending and the interesting part of that consumer spending story right now, you mentioned the record $1.2 million on black friday, it shows that the american consumer is at least relatively healthy. they started to buy things like consumer electronics, equipment and toys, but a lot of the bad news around this is because the increase in spending comes
OIL PRICE UPDATE: WTI prices are looking to break back above the $90 a barrel mark. Will the price be able to maintain upside momentum or enter another consolidation phase?