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To: KLP who wrote (473646)2/24/2012 2:07:40 AM
From: SmoothSail  Read Replies (1) | Respond to of 794024
 
so what is the difference this week....?

Wonder if it has anything to do with Iran shutting off oil to Europe in retaliation for the sanctions. And oil flow from Libya has gone down to a trickle.

We get most of our oil from Canada, Mexico, Venezuela and the Saudis, but it's a worldwide market.



To: KLP who wrote (473646)2/24/2012 11:19:22 AM
From: majaman19781 Recommendation  Respond to of 794024
 
What is driving the price up so high so fast? I'm with unclewest....there must be some reason we aren't being told.....

Pretty easy to figure out.

Hedge funds and the like play off this "news" in order to drive prices higher. No problems with supply, nor will there be.

They were doing it with the market last year with Europe's mess with countless headlines proclaiming another 2008 calamity causing wild swings.... now they've moved back into commodities with oil leading the way.