What your seeing is the result of confusion and fear, all the metals jumped up as well. Oil is seen as safe, for now.

If the markets stabilize, it will come right back down to the low 90's range. If they keep going nuts, or if it gets worse, it will shoot sky high. Which would cause whats left of the economy to grind to a hault.

Its anyones guess what the markets do, at this point. I'm usualy extremely optimistic about this stuff, but I'm not now. My gut is telling me this could be the start of a much bigger problem. Either way nothing to do now but keep watching.

IMHO I see it going two ways:
Best case the markets respond to either Washington or good old market forces and stabilize.

Worst case, they keep going nuts and fall apart. No one can get any credit, oil shoots up to un imaginable levels taking up everyones spare cash, un employment sky rockets. The world enters the 2nd Great Depression. We all stand in soup lines talking about the MB's we used to have, as we look for work.

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