Oil prices fall below $100/bbl on reduced demand from
Japan
, but the
global economy could face permanent increases in energy prices with nuclear power
in now in question, Strategas says.
"The events of the
Middle
East
pushed oil up (near-term), and the demand destruction in
Japan
has
started to push oil down (near-term)... A major source of global energy is now
in question, and it seems more likely that the increase in oil prices can be
viewed as a permanent move."