Via the NYT: Oil Prices Drop Below $60 a Barrel

Light, sweet crude for November delivery dropped 25 cents to $59.78 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe.

On London’s ICE Futures exchange, November Brent crude was down 15 cents at $59.85 a barrel.

Heating oil futures fell 0.75 cent to $1.6845 a gallon while unleaded gasoline was down 1.15 cents to $1.5135 a gallon. Natural gas futures gained 6.2 cents to $6.360 per 1,000 cubic feet.

Well, of course they fell! What with the Foley scandal the Republicans needed a boost, so the Bush cabal called the trilateralists who got in their black helicopters and put pressure on ever single trader in the futures market to make sure gas prices would continue to head downward.

Really, it’s all so simple when you stop and think about it!