Originally Posted by marketsmart

yawn... this was already predicted.. its called DEMAND... if the speculators were driving the price up as congress and the media would lead you to believe, then oil would still be going up...

the richest investors in this country have already said oil would retreat to at best $80-90, settle there for maybe 4-6 months, and then start climbing again until over $200+...

however, if isreal does something stupid like attack iran, you will see oil hit $200 in less than a week imho...

the bottom line is people are conserving fuel right now any way they can and that is what is lowering the price of oil... however, china and india's demand is growing on a daily basis and will eventually lead to tighter supply that will cause oil price increases regardless of US demand...