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Wednesday, August 16, 2006

Gasoline Under $2!

Gasoline under $2! You can tell the end of the peak summer driving season is nearly upon us now that Unleaded Gasoline futures have dropped the "2" as the first digit in its price. It appears that energy bears have gained the upper hand recently, with last Thursday's sharp sell-off causing large amounts of speculative sell-stops to be hit. The cease fire between Israel and Hezbollah guerrillas has taken some of the "risk premium" out of Gasoline prices, along with a slow start to the Atlantic hurricane season. Commodity funds continue to hold long positions in all the energy markets, and further price weakness should cause these large players to start liquidating their long positions. Read More....