September 9th, 2008

WTI closed below $105

Specifically, $103.26.

My personal interpretation is still that at this point, the fear is demand destruction, not loss of supply due to Ike and tag-alongs in the GOM. However, everyone _else_ seems to think it's about a strong dollar. To which I merely note, only because everyone else caught what we've been suffering from and their currencies finally are reflecting it.