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TwitterEnergy prices just keep on heading higher, and today we see new highs for both oil and gas.
Oil crept through the $143 mark today, a traders continue to see oil as their refuge from a weak overall global economy. As recession fears continue to weigh on the minds of traders, they are flocking into commodities as a hedge against a possible full blown recession. Supply concerns are also present today, and, as usual, we have some tension in the Middle East the continues to weigh on investor’s minds.
So how about those gasoline prices? Last month, I moved back to America after spending a couple years in Europe, and the harsh reality of gasoline prices is now something I am being forced to experience first hand. So long public transportation, and hello $4 gasoline. It’s tough, but its just something that is hard to avoid living in America. But just how bad are things? Overnight the national average creeped a little bit higher, and set a new record up at $4.086. Ouch.
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[...] The Yellow Brick Road â?º The Wall Street Examiner wrote an interesting post today onHere’s a quick excerptBoth oil and gas prices setting new highs today June 30th, 2008 | Posted in New Highs, Consumer Experience, Bad News, Oil Energy prices just keep on heading higher, and today we see new highs for both oil and gas. Oil crept through the $143 mark today, a traders continue to see oil as their refuge from a weak overall global economy. As recession fears continue to weigh on the minds of traders, they are flocking into commodities as a hedge against a possible full blown recession. Supply conce [...]