29/10/2007

Going up...

To all that read this blog and are aware of the crude situation will notice that right now Friday 26-10-2007 Crude oil rose above $91,87 a barrel to a all new record in New York, on the other hand we also have the dollar sinking more and more...now it's not a question of when we'll hit $100 but how quickly and how longer can this go on...
New U.S. sanctions against Iran, warnings of a Turkish assault on Kurdish militants in Iraq and the falling dollar have pushed prices higher today.
The U.S. has had sanctions against Iran since 1979 and it's not like we are just hearing for the first time about Turkey's intention to rout the Kurdish rebels in northern Iraq,what the headlines do is keep these issues front and center for anyone trading in this market ... So the real issue is what?
Every excuss is used to inflate the crude price in the international markets and some goverments and oil companies are grabbing this moment to increase the final consumer price... this is happening at the moment here in Portugal were the two bigger companies have increased what is already one of the worlds most expensive consumer prices...WHO CARES IF THE CRUDE PRICE IS THIS HIGH...APPARENTLY NO ONE...

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