West Texas Intermediate fell to trade near the lowest price in more than four months amid speculation crude inventories increased for a seventh week in the U.S., the world’s biggest oil consumer.
Futures eased 0.1 percent after settling last week at the lowest close since June. Crude stockpiles probably expanded by 2.2 million barrels to 386.1 million last week as production climbed to a 24-year high, according to a Bloomberg News survey of analysts before data from the Energy Information Administration tomorrow. Libya prepared to resume crude exports at its Hariga terminal amid protests involving armed guards.
All I know is that I've got Sunpower panels on my house and my electricity bill for the ENTIRE first year was $69!! It costs me $69 to fill up my car one time! Oil can't cut their prices enough to hurt the value in solar (not to mention solar is getting cheaper). Oil is in trouble with solar and electric.