Rising fuel prices got you down? Blame Twitter

The power of social media revealed itself yesterday in the form of fluctuation in fuel prices based on a false tweet. According to The Wall Street Journal , a Twitter account claiming to be Russian Interior Minister Vladamir Kolokoltsv tweeted that Syrian president Bashar al-Assad had been injured or killed. That tweet which occurred at 9:59 AM EST, was followed by two more tweets alleging the confirmation of al-Assad's death. In the hour following that tweet, light, sweet crude prices rose from $90.82 to $91.99, and the jump took place in between 10:15 and 10:45. According to the Reuters report, the Russian ministry denies firing off the tweets and denies any connection to the account. Price Futures Group analyst Phil Flynn pointed out "a well-placed story can move the market, and that looks like what happened." Though Syria itself is not a major oil producer, it is feare...

Full article: http://green.autoblog.com/2012/08/08/rising-fuel-prices-g...

Tweets

@ChromeNW » 09 Aug '12, 8pm
A twitter rumor made gas prices jump on Tuesday. [link]
@Eco_Cars1 » 08 Aug '12, 9pm
RT @Earthgarage: Rising fuel prices got you down? Blame Twitter: Filed under: Etc., Middle East The power o... [link] via AutoblogGreen
@mahoganyltd » 08 Aug '12, 1pm
Rising fuel prices got you down? Blame Twitter: Filed under: Etc., Middle East The power of social media rev... [link]
@ThomasWillie » 08 Aug '12, 1pm
#PLEASE #RETWEET Rising fuel prices got you down? Blame Twitter: According to The Wall Street Journal, ... [link] #TWITTER
@jknistrum » 08 Aug '12, 1pm
Rising fuel prices got you down? Blame Twitter [link] #green #energy
@Earthgarage » 08 Aug '12, 1pm
Rising fuel prices got you down? Blame Twitter: Filed under: Etc., Middle East The power o... [link] via AutoblogGreen
@SDRelectriccars » 08 Aug '12, 12pm
Rising fuel prices got you down? Blame Twitter - Filed under: Etc., Middle East The power of social media reveal... [link]
@carstufffeed » 08 Aug '12, 11am
Rising fuel prices got you down? Blame Twitter: Filed under: Etc., Middle East The power of s... [link] #AutoblogGreen
@fibergeneration » 08 Aug '12, 10pm
Rising fuel prices got you down? Blame Twitter [link]
@Alltop_green » 08 Aug '12, 1pm
Rising fuel prices got you down? Blame Twitter [link]
@otogeek » 08 Aug '12, 12pm
[link] Rising fuel prices got you down? Blame Twitter: Filed under: Etc., Middle East The power... [link]
@jaffarwahdat » 08 Aug '12, 12pm
Rising fuel prices got you down? Blame Twitter [link]
@mygreenlimo » 08 Aug '12, 12pm
Rising fuel prices got you down? Blame Twitter [link]