In the energy market Thursday, crude for June delivery fell for the third straight day, dropping to $112.52/barrel, down 94 cents. June reformulated gasoline declined 2.81 cents, to $2.8782/gallon.
“It’s one of those days where nothing much seems to be happening,” I said as I sat down at our morning meeting. Boy was I wrong!
Is the U.S. Fed done cutting rates? The commodities market seems to think so. Gold, platinum, palladium and silver all fell by the end of New York trading. Even oil was off its all-time highs though still above US$115.
On a personal level, it was more of a food crunch than a credit crunch…