could easily be dragged into politics.
I was looking at the Yahoo listing of news headlines yesterday evening. Do you notice anything odd about the headlines:
Is it really any wonder that the citizens of the USA are so divided in claiming either one side or the other of an issue is correct?
I no great mathematician, but I don't thinks those two statements can be factually placed on either side of an equal sign.
The current Dated Brent Spot price is $113.05/barrel
The current WTI Cushing Spot price is $99.70/barrel
There is no "one" oil price; it's priced at different delivery locations and grades
Oil drops below $100 on worry of weaker US demand
By CHRIS KAHN, AP Energy Writer – Thu May 5, 5:48 pm ET
NEW YORK – Oil plunged nearly 9 percent to settle below $100 per barrel. Investors who had ridden a months-long rally fled the market Thursday because of concerns about weakening demand for fuel in the U.S.
Oil above $100 as traders eye weak US jobs market
By ALEX KENNEDY, Associated Press – Fri May 6, 12:47 am ET
SINGAPORE – Oil prices inched above $100 a barrel Friday in Asia, consolidating after a sharp drop in the previous session amid investor concern a weak U.S. jobs market may undermine crude demand.
You're inferring an equivalency but there really isn't one. The second article was written 7 hours after the first. In commodity trading time, that's like light years in regular time. Plus, although the writers would have you believe they understand the reasons for the increase and decrease in price, they're really just making educated guesses. If they really knew why prices go up and down, they wouldn't be writing about it. They'd be getting filthy rich trading commodities.
I see your point , but my first thought after reading allof the headlines was "this is just like a dog chasing his tail"
[flash width=480 height=390] http://www.youtube.com/v/QFTiZG5oGuc?fs=1&hl=en_US&rel=0 [/flash]
I am just teasing, but "Oil Economics" should be clustered into a new category called "Politics/Religion/Oil"!
Apparently it is not as funny to most people as it was
to me. I got a pretty good laugh out of it - of course I also laugh at fart jokes.
As internet news sources are becoming more of the 'norm' - when I saw these two on the same page, I immediately thought of the bit Jay Leno did with clippings from the newspaper that had wording which could be misconstrued.
Without reading the two links, I figured it was something along the lines of the information Mr. Leu posted.
As the price changes based on who sneezed where, I don't personally worry about it very much. It was the juxtaposition of the two headlines with antonyms about the same product that was humorous to me.
It is also something that shows up frequently where one news item will claim some government action will save billions while another news item sites how many billions it will cost to implement the billions in savings - thereby negating the original billions in savings.
