RE:will ac break 12.50?.I shorted oil yesterday at about 2pm which turned out to be just a tad early but no harm done. I'm riding oil as it makes it's way down which is in the middle of a head fake right now but i expect oil to go lower from here.
One concern for AC that we may have to keep an eye on is a number of US refineries that turn oil into fuel are now on strike. If the fuel supply starts to twindle it will not matter how low oil goes. Refineries on strike compound the problem for larger oil surpluses driving the price of oil lower which does not translate into lower fuel prices .