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Demand Dreariness. Forget all that talk of a weak dollar or soaring gold price. In a light holiday trade the oil market succumbed to a bought of demand dreariness. Oil is tired and it could not get allot of reassurance from the downgraded GDP that demand is getting ready to turn the corner anytime soon. Even the Fed Minutes dampened the enthusiasm in this market because despite the fact that those rates will remain low almost indefinitely it seems that the road to recovery is going to be long and harrowing. It Fact the Fed things it may be 5 to 6 years before the economy gets back to its previous machismo. I mean how you can get too 'excited about the demand side for oil when the labor market ccontinues to fall apart and job losses remain widespread across many industries.
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