Oil Futures Hold Fast At $47

Light, sweet crude continues to hover around the $47 mark climbing as high as $48.05 but then going back down. Gasoline went up 2 cents to $1.44 a gallon and Brent North Sea crude is 58 cents this morning to $48.68.

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Descension In the Tanks: Oil Prices Plunge

Oil prices plunged down today to $47 before settling at $47.25. The prices for light sweet crude as OPEC regains control over the market from speculators who drove prices up over $58 a barrel in early April. Brent North Sea crude was down $1.19 cents at $48.15.