http://biz.yahoo.com/ap/060515/oil_prices.html?.v=15
I hope this trend continues.

My first thought was profit-taking, too.

Yes, there have been a few more positive economic indicators - but although the cite that rising inflation may curb demand, from what I've read elsewhere on Yahoo! demand isn't actually falling as gas prices in the US rise - people are just looking to buy different cars.

Things have been very jittery in oil, but we may find we're simply in the eye of the storm.

2c.

What is the latest on oil prices this time?

Under $70 again at present:
http://www.financemarkets.co.uk/cate...mmodities/oil/