Pullback from $50/bbl could be temporary

Is the so-called speculative bubble in crude oil prices about to burst?After flirting with $50/bbl, New York crude futures have plunged nearly $7/bbl as of this writing.Analysts cite a number of factors in assessing the pullback from the dreaded $50/bbl psychological watershed. The No. 1 factor is the easing of concern over a major oil supply disruption. Venezuela's Aug. 15 recall referendum election, resulting in the political survival of its divisive president, Hugo Chàvez, proved a nonevent as a supply disruption threat. The violent cat-and-mouse game being waged by militant Shiites against Iraqi security forces and US troops in Iraq's holy city of Najaf apparently has end...

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