I've noticed that oil prices go down on Thursdays, ?

Question

Every day I go to bloomberg.com and check what oil is trading at. Usually if its down today, tommorrow its up. Last week oil dropped to $125 (about) per barrel, and was in a three day slide. The next day, (Friday) oil jumped over $10 per barrel in one day. Then on Monday, the speculators sell and its down again. I could be wrong, but it seems like every Thursday for the last month or so, oil is down, only to go back up on Friday (the markets are closed on weekends). Its becoming almost routine. JMO, but I believe if the FED would raise interest rates, that the speculators would pull money out of the commodities market (oil) and the dollar would strenghten, bring the price down. Your thoughts?

Answer 1

Well, gas prices sure haven't one down.

Answer 2

it's because thurs is the last day before the weekend. so it's low on thurs and then the price jumps up on friday because people are more likely to travel places on the weekend.

i think you could be right about the interest rates. they are really low so people can invest more in the commodities market and make a lot of money with the high oil prices. the reason i think for the weak dollar is the high oil prices => high gas prices => high prices of everything else = inflation = weak dollar.

that's what i think anyway...