Re: Oil market fireworks on the way ...
Oil up $0.18 a barrel today. The Iraqi news combined with the DOE announcment that U.S. oil inventories increased less than expected combined with the recent developments in Saudi Arabia would seemingly have a bigger impact on prices. The price per barrel has fallen recently from it's all time high of $41 to around $37.40 today. Methinks oil prices may have peaked for the intermediate term. Nothing like increased prices to bring on lots of supply.
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