Oil at 92.35 a barrel.

[JerryCarr]

JWFITZ makes a good point about the Fed lowering rates and the price of oil going up. When US interest rates drop, the value of the dollar usually drops, thus making imported commodities such as oil more expensive. A number of economists are concerned that the Fed is cutting rates to prop up the stock markets and to help banks, mortage lenders, and risky mortgage loan consumers not have to deal with the consequences of poor loan decisions. Others think the rate cuts are necessary to stave off a recession. It will be interesting to see how it plays out. As a stock investor, I have a personal interest in maintaining equity values, but I also wonder about the bigger picture.

Cheers,
Jerry