Crude Crashing - As Predicted Here At Astute Bloggers

Once again, Astute Bloggers scoops the entire blogosphere. Reliapundit has called the rise in the price of oil as a "Market Bubble", and he predicted it would burst.

It looks as if that is exactly what is happening.

RELIAPUNDIT: WITH OIL CHEAPER AND IRAQ BETTER, OBAMA AND THE DEMS HAVE NOTHING TO RUN ON.

Crude Oil Lt Sweet Pit (Nymex) July , 2008 CL08N (NYMEX) $122.15 $-2.16 -1.74%
6/4/2008 11:16 AM ET

Open 124.45
High 125.10
Low 122.00
52-Wk Low 67.88
52-Wk High 133.70
P/E Ratio 0.00
Volume 115
50 day Avg Vol 13,491,500
50 day Avg Price 117.27