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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (47343)	2/25/2006 4:52:25 PM
From: sea_biscuit	Read Replies (1) of 116555

YAIOBA (Yet Another Iranian Oil Bourse Article)! This time from Malaysia. malaysiakini.com Excerpt : "Today, the price of oil sold to the consumers around the world is determined by two petroleum exchanges - namely the New York Mercantile Exchange and the International Petroleum Exchange in London. This is a bit ironic because the price of oil is determined not by the oil producers but by the exchanges in the West. However, the monopoly enjoyed by these two exchanges will soon come to an end. Come March 2006, the Iranian oil bourse will commence operations and will use euro in its daily activities. "

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