Tom Rants

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Tom Rants Default September crude tops $60

September crude tops $60

Latest Business News and Financial Information |

NYMEX crude oil for September delivey — trading at a premium to the front month — hit $60.05, the first time a futures contract has topped $60.

And OPEC is threatening another supply increase. Maybe that $105 superspike is for real.

I’m in the market for an early ’90s Ford Escort, 2 door, if anyone knows where I can get one. Damn things got 40+ MPG with a standard gasoline engine. “Best selling car in the world” and the bozos at Ford stopped building them. Just another irrational market driven by protectionism and unions instead of supply and demand.

More on oil on my site Financial Options including The Secret Way to Play Oil.

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