Posts filed under “Energy”
Wild day in the pits — DJIA up 213.97, Nasdaq up 46.80 (and over its 200 day moving average!). Crude oil up over $6 intraday, closing up $5.49 to $127.90.
Blame ECB chair Trichet, whose hawkish inflation pronouncements helped tank the greenback and send oil soaring.
In the battle of the Central Bankers, its Trichet 3, Bernanke 0
UPDATE: June 6, 2008 5:48am
See this Bloomberg story, Trichet Leads Shift From Growth to Beating Inflation
Billionaire Boone Pickens, founder and chairman of BP Capital LLC, talks about his investment in wind power, the impact of speculation and demand on oil prices and Microsoft Corp.’s efforts to buy Yahoo!
Pickens Calls Speculation a `Scapegoat’ for Oil Prices: Video
Bloomberg, June 2 2008