Dipping even further into sweet territory, the price of oil. I always love it when that goes down.

Light, sweet crude closed down $3.69, or 2.9 percent, to settle at $121.41 a barrel on the New York Mercantile Exchange after Tropical Storm Edouard seemed unlikely to threaten oil and natural gas facilities in the Gulf of Mexico. It was the lowest settlement price since May 5 and left crude down nearly 20 percent from its July 11 high of $147.27.

That decline eased some of investors’ concerns about inflation. Wall Street initially sold off after the Commerce Department said an inflation gauge tied to consumer spending rose by a sharp 0.8 percent in June, reflecting higher gasoline prices. That was the biggest jump in the indicator since a 1 percent rise in February 1981.

OK, so the stock market declined too, the cost of inflation being the sour point in a sweet day. Hopefully the price of gas goes down correspondingly bringing inflation down eventually. Even the temperature here declined, all of 94° out. Was cloudy this morning is why. Expected to be another cool day out tomorrow too.