Crude Oil Falls Below $80
By: Tim McPartland,
We are noting that crude oil is off $1.25 this morning taking it down to the $79.75 area. A fall much further will set off a bloodbath in the MLP’s. Like interest rates little moves don’t matter too much, but a $2 or $3 move could start a real waterfall of moves lower in crude and crude oil related issues. We will be watching closely to see it there are bargains begin created in the production companies.