LightSweetOil.com

Light, sweet crude for January delivery fell 91 cents to settle at 43.60 U.S. dollars a barrel on the New York Mercantile Exchange. Crude oil tumbled Tuesday as the U.S. Federal Reserve interest rate cut revived investors’ concern about slumping demand during the economic recession.
The Fed decided Tuesday to cut its target for overnight [...]

Pump prices continued their slow decent in California and much of the nation (all the but the midwest) over the last week, reaching levels not seen since the early weeks of 2004. In the Midwest, prices rose for the first time since Hurricane Ike caused spot shortages there in September.

The newest lows came [...]

The OPEC cartel is expected to announce a big production cut next week as oil slips today. It looks like the market is mulling over the impact of the cut as the prices have slipped down today as investors questioned whether a big production cut — expected to be announced by OPEC next week — [...]