And Then They Remembered …… Oil Prices

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Oil prices have been swinging lately.  I thought I’d take a moment to comment on this.  As discussed a few times before, oil pricing is tricky.  Yes, it is a supply and demand price, but, it also is an anticipated supply and demand pricing.  Worse, it moves at the whims of some very skittish people with a horrible herd mentality. 

So, we see this in consecutive days ……

Oil prices rose Wednesday, sending U.S. crude above $94 a barrel for the first time in two weeks.

Crude oil for February delivery rose $1.58, or 1.7 percent, to $94.17 a barrel in New York. It’s up 2.6 percent the past two days.

A key reason for the higher price was a big drop in supplies. The U.S. government reported that oil supplies fell by 7.7 million barrels last week, more than analysts expected.

Now, that’s US oil, not Brent.  So, oil…

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