Falling oil prices

[priapism]

I heard this morning that the price of oil has dropped again by about a dollar a barrel last night . It is now at a 4 month low and heading downwards.

I guess all the SLF like myself can now look forward to a corresponding drop in the fuel surcharge .!

Not holding my breath though.

[Tom Sawyer]

Virgin Atlantic have already dropped theirs, about 10 days ago I think.

[Uncommon Sense]

Personally I think it will be short lived - there is nothing to show that the long term capacity / availability and demand ratio can keep the price down. It is a simple futures market after all, despite some manipulation.

But the fundamentals still say oil is far to cheap - IMHO.