Oil Prices Drop to $71.59 per Barrel

Hmm, it seems that Oil Prices are dropping and thus gas prices should follow.

Worries about shrinking oil consumption in a slowing global economy
continued to suppress crude prices, according to Alan Mandel, analyst at Alan M.
Trading. However, investors shouldn't expect oil to fall much further, Mandel
says.

"There will be a buying opportunity if oil falls below $68," he says.
"Geopolitical hotspots around the world are still relevant, and we haven't yet
entered the peak of hurricane season."

I have a feeling that oil prices may drop further here because demand seems to be slowing and these geopolitical hotspots are kind of moving to the back page. Also there seems to be few if any hurricanes so far this season that I know of. There may be some big ones later this month but it would seem that there would be more throughout the season and not a big clump at the end. I'm still in the camp that New Orleans won't see another levee breaking whopper hurricane for another 40 years.