chilling out the stock market
Oil, Natural Gas Prices Up on Cold Weather
WASHINGTON (AP) -- Natural gas prices jumped 9 percent to a new high Thursday and oil prices also climbed as cold weather across the U.S. raised jitters about increased demand for home-heating fuels this winter.
But some brokers said they were stunned by the market's apparent knee-jerk reaction to freezing temperatures and snow, chalking it up to speculative buying.
At the end of the day, some serious reflection is in order for rank and file economic pundits. Energy prices are swinging wildly in response to a little chilly weather. When did this phenomenom start?
There were those who predicted this very situation.