"Crude oil prices on Tuesday tumbled to a five-months low of $105.46 a barrel as energy traders sold contracts following minor damage to refineries from hurricane Gustav and strengthening of the US dollar.
From Friday’s close of $115.46 a barrel, Nymex October West Texas Intermediate fell $10. Although the New York Mercantile Exchange opened for electronic trading on Monday during a US public holiday, it did not issue a settlement price." From Financial Times
It's entirely possible that with the dollar strengthening, interest rate cuts at an end, and housing in the US beginning to recover ... we'll see oil back under $100 for the first time this year. Now that's just what this economy ordered.
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