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Thursday, July 06, 2006

Oil+Political Tensions = Record High Prices

Oil+Political Tensions = Record high prices: This has been the formula for the past several months, as worldwide turmoil and high Crude Oil demand has set the stage for all time high Oil prices. Political tensions involving North Korea, Nigeria, Iran, and Iraq are forcing traders to place a high "risk premium" on the price of Oil, as fears of possible supply disruptions keep traders nervous. Now that lead month Oil futures are trading above $75, there are calls that prices could reach $80 to $85 by the end of the year. Read More....