With Christmas over those on Wall Street need something to get their week jumped started before the New Year.
Oil prices increased today and low demand after the holiday. Fuel prices will probably go lower next week based on week demand numbers reported by the EIA.
Santa brings $35.35 crude oil prices for Christmas. As oil costs fall for 9 consecutive days. Most oil investors feel that prices will continue to fall into the new year. Lower fuel prices mean a nice Christmas present and a Happy New Year to almost everyone except oil companies.
Many companies are saving money on their fuel cost not only the fuels have come down but they have taken action to improve fuel saving.
Yes, we head into the biggest holiday of the year and the economy is bad. Real bad. Not a day goes by that you don’t read about this company laying off 1,000 people or that company laying 5,000 people. Toyota for the first time in its 70 year history is reporting an operating loss.