The Marketplace Reader

Will oil price drop continue?

Richard Core Jul 8, 2008

Oil prices fell as much as $6 a barrel Tuesday, bringing crude down $10 this week and hurling prices back to levels not seen since June 26. Traders, keeping a wary eye on the global economy, cashed in gains from oil’s recent rally.

That’s the lead of the Associated Press report.

The story says analysts see the decline resulting from profit-taking, reduced concerns about supply disruptions, and fears that the economic slowdown is spreading. Of course, we all wonder if any of this will show up at the pump.

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