Oil Mysteriously Drops As Bernanke Begins Testimony

The chairman of the Federal Reserve Bank, Ben Bernanke, just began his testimony in the U.S. House of Representatives. Ironically, when the chairman began his testimony spot oil prices just dropped sharply intra-day trading below the psychological $100.00 level. Yesterday, the major stock indexes sold off violently while Chairman Bernanke testified in from of the U.S. Senate. Ben Bernanke has stated numerous times that his current QE-2 program has only helped to lift stock market prices and has not caused inflation.