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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: patron_anejo_por_favor who wrote (124357)5/21/2008 10:41:45 AM
From: Think4YourselfRead Replies (2) of 306849
 
"BTW, huge draws in crude in the EIA inventories this week...even with price at 125/bbl and up."

That's extremely bad news, and a bit surprising. Given how empty the roads have been these past two weeks I would expect that we are actually building supply. I wonder where all the oil is going, besides the SPR, which they are still filling.

Also, FWIW, I don't believe oil is in a bubble either. It may come down in the near term due to worldwide recession, but longer term it is going higher, a LOT higher.
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