"The oil market is linked to whatever is happening in the financial market as opposed to oil fundamentals. After the biggest one day drop, Dow Jones futures are up a couple of hundred points and this is bringing a bit of stability to some commodities including oil this morning,"
a London-based broker said regarding the recent market volatility following the US $700 billion bailout rejection.

"We suspect that Congress will eventually come up with a plan that all sides can live with. There is simply too much at stake by failing to pass a massive cash injection."
Ed Meir of MF Global said in a report regarding the failed US bailout proposal.

Updated: September 30, 2008