Oil, the ECB and HFT

25

February, 2011

Yesterday was certainly a wild day in the oil market.  While the quick answer for the late day drop in oil prices was a rumor that Gadhafi had been shot, the real reason probably was a few statements made by President Obama and his Treasury Secretary.  The President said that he thinks we can “ride out the Libya situation” and the Treasury Secretary threatened to open up the strategic petroleum reserve if oil prices got too high.  Just like the Bernank can print money, Turbo Tax

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