Unless you have been living under a rock, you know that oil prices are way down, as you can see prices at the pump drop to the $2 range. Crude continues to get pounded, as over supply and lack of demand continue to plague the economic situation for black gold. Front month futures contracts of oil have it priced at $63.275 a barrel, as the price is getting a temporary rally due to a sizeable US dollar correction. Sterne Agee analysts see oil back up to $75 a barrel once E & P sentiment can rebound and price sees a squeeze from the negative sentiment.
Oil rig count affects...
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