If I had a dime for every time someone here said that, I'd be rich.
And yet . . .
Strong GDP Number Unable to Lift Crude Above $73
by Nancy Agin | Rigzone | Friday, January 29, 2010
Closing the month in negative territory, U.S. crude oil futures extended losses below $73 on the New York Mercantile Exchange Friday as still-lackluster demand, bloated inventories and a triumphant greenback continued to put pressure on the energy commodity.
Down 75 cents from yesterday's final price tag, the price of light, sweet crude oil for March delivery ultimately settled at $72.89 a barrel. Friday's session wraps up a month of peak highs and lows for crude's current trading range between $70-$80, but today's lower settlement underscores the biggest monthly percentage loss for oil prices since December 2008.