Oil prices

[aquitaine]

With the economy still in the tank, why are oil prices going back up?

[EnumaElish]

With the economy still in the tank, why are oil prices going back up?Nice pun :smile: My guess is that the investors are finding out that the world is not headed to a depression, and oil prices are probably a leading indicator of future recovery.

See, for example:
http://money.cnn.com/2009/06/16/news/economy/oil_on_rise_again.fortune/index.htm

http://www.investorsinsight.com/blogs/daily_profit/archive/2009/03/20/oil-and-the-recovery-a-leading-indicator-to-watch.aspx

http://www.indiadaily.com/editorial/13805.asp

http://news.xinhuanet.com/english/2009-05/31/content_11462763.htm

But, also see: http://www.fxstreet.com/fundamental/market-view/market-insights/2009-06-09.html