Business journalism can be very frustrating -- and basically useless. For example, oil today reached $106/barrel -- the reason? A little explosion in Manhattan, if you believe this business journalist who seems to have heard it from one -- only one, mind you -- analyst.
OK. So why, then, had oil risen to $105/barrel before it rose that one extra $1 on the terrifying news that some little military recruiting was bombed, when by the time oil markets opened in NYC police already knew wasn't terrorism?
I hate business stories that attempt to attribute a whole market's worth of business, worth hundreds of billions of dollars, on some obscure reason somewhere, as if oil investors were some skittery scardey-cats who were reacting to last hour's events and not maybe to the fact that we are starting to run out of oil....?