Crude futures fall...Greenspan speaks on interest rates

[DuctapeFatwa]

Crude oil futures moved slightly lower yesterday (Tuesday) on the New York Mercantile Exchange, as some traders took profits.

The April light, sweet crude contract closed at 36 dollars, 66 cents a barrel, down 20 cents from a big run-up Monday.

April gasoline futures fell a fraction of a cent to a dollar-14 a gallon.

(Washington-AP) -- Federal Reserve Chairman Alan Greenspan says interest rates will have to go up eventually, though he's not saying when.

http://www.kfor.com/Global/story.asp?S=1684252

[PartyPooper]

1. Is he being coy?

WTF?

[Dogmudgeon]

2. Decreasing income with increasing prices

Economists with so much as a lick of sense are probably spending a lot of money on Imodium and Kaopectate these days.

April crude futures are at 36.66, down 0.20? That's insignificant. Leave it to say that oil is now at $35-40/bbl. Gas prices will start responding this summer; hope for a mild winter in 2004-5.

--bkl