Driving down the economy

Good news: Oil dropped 1.8 percent Thursday. Bad news: It was back up on Friday.

Trading above $130 crude is up 15 percent for the month and 36 percent for the year. Just in time for driving season.


The momentary drop was surprising, given the International Energy Agency warning that supply may outstrip demand.

Despite IEA data being partially funded by Wall Street, I occasionally cite it because it’s often the best available source of information on oil. However, I’m skeptical of the agency’s ability to accurately assess future production.

Nashua Telegraph