The Ups And Downs Of Oil
Oil dropped $5 to a three-month low on Friday as the dollar surged and concerns about global economic growth weighed on demand expectations.
The fall came even as Russia sent forces into Georgia, a key energy transit region, to repel a Georgian assault on the breakaway South Ossetia region.
U.S. light crude settled down $4.82 to $115.20 a barrel, before falling to $114.90 in post-settlement trade, the lowest level since early May. Prices have slid since hitting a record high over $147 a barrel on July 11.
So how much do you think gas will cost by election day? My guess? $2.67 a gallon. What do you think?
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