Oil Prices Drop, Sadly

The price of oil dropped $2.19 today, to $117.91, spurring a stock market and dollar rally. Sounds like good news. Except that it’s dropping because the market thinks more people won’t be able to afford to drive their cars as much. Who’s up for a “staycation?”

Oil Prices Tumble Again; Stock Markets Surge [NYT] (Photo: hanapbuhay)