Friday, June 06, 2008

Crude on the move once again....

Crude prices jumped over 5 dollars a barrel today on the back of hawkish comments from ECB President Jean-Claude Trichet.

``A year ago there would have had to be a disruption or political event to trigger a $5 move, but that's no longer the case,'' said Chip Hodge, a managing director at MFC Global Investment Management in Boston, who oversees a $4.5 billion energy-company bond portfolio. ``The only rational reason is the falling dollar.''

A lower dollar equals higher Crude. Not good for an economy....




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