NEW YORK ( TheStreet) -- Oil is tanking, down $5 today, while Brent is down more than 8 bucks -- what is going on here?Two major events have led to this flight from the oil trade -- first, Fed Chairman Ben Bernanke's warning of a "slowing pace of recovery," which is the warning signal that oil relies upon. Second is the announcement by the International Energy Agency that in concert with the United States, there will be a release of 60 million barrels from the Strategic Petroleum Reserve to make up for Libyan shortfalls. This release of supply will occur in the next month.
Sinking Oil Prices Create a Buy Opportunity
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