Crude Oil Falls, Following Stocks Lower, as Dollar Strengthens

Crude oil fell for a second day, following global equities lower, as a stronger dollar reduced the appeal of commodities as an alternative investment.
Prices declined after stocks dropped and the U.S. currency gained against the euro. The stronger currency undermines demand for dollar-priced assets such as oil and gold. Oil futures touched a seven-month high of $70.32 on June 5 after a Labor Department report showed the fewest job losses in eight months.
The fundamentals don’t support these prices, said Michael Fitzpatrick, a vice president for energy at MF Global Ltd. in New York. A stronger dollar takes away one of the supporting factors behind the recent rally.
Crude oil for July delivery fell 35 cents, or 0.5 percent, to settle at $68.09 a barrel at 3:04 p.m. on the New York Mercantile Exchange. Futures are up 53 percent this year.
Read entire areticle :

Bob Chapman on Obama's Financial Overhaul Plan

Bob Chapman on Erskine Overnight 20 June 2009
Bob Chapman The International forecaster says we got to get rid of the FED hopefully RON Paul's bill will pass soon , he then touches several topics such as GOLD and Silver prices on which he is a renown expert , the Real estate Market the dozens of neighborhoods that the government wants to bulldozer , the housing market won't stand on its feet before 2012 says Bob Chapman houses prices are likely to drop by a 40% ..., Inflation the credit crisis , credit cards default on the rise credit cards companies will continue their losses , the Unemployment , we will see higher interest rates probably around 6% ..this will create inflation...food prices are going up , food will become scarcer ...price inflation on food is around 12% ..China is headed for a certain collapse , US and China are both on the ride for a Revolution says Bob Chapman ...all G20 countries stimulus packages are working temporarily then inflation will hit them all , especially China which is totally dependent on American Imports Many countries will see Revolutions...this is no more a capitalist system , no more free market , the FED and US treasury manipulate every single market in the world , they want gold and silver prices to go down ...