Don't Fret Over Europe's Debt Crisis – Oil Prices Will Bounce Back

The volatility in the oil market has notched up this week, courtesy of another bout with debt jitters in Europe. Oil and gasoline futures are moving down - and most of the energy sector along with them. In a situation like the current European debt mess - where maximum uncertainty is channeled into a very focused concern - oil futures will generally overcompensate, exaggerating the downside. Of course, that is of little consolation to the traders who in the past few days have seen about $3.00 cut from the near-month futures (July).