Tuesday, March 11, 2008

World's central banks hit the gas.

This move in oil to $109 has been pretty awe inspiring, and it even stomped all over a bearish call by Boone Pickens.

It wasn't terribly clear what was behind the move, as inventories are trending up, and gasoline demand appears to be backing off, but now we know.

The world's central banks are hitting the gas.

CNBC: Fed Leads Coordinated Move to Boost Liquidity.

Now that the cat is out of the bag, I tend to think that this oil rally will temper.