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Wednesday, June 10, 2009

Oil over $250/b?

Gazprom CEO Miller says oil could go over $250/barrel. This news is very "inflammatory". A mix of hot passions in the Middle East and petroleum make the area very volatile.

As the dollar drops oil will rise, and an increase in price of fuel mean less money to buy goods. This also will have a negative impact on sales and cause much higher interest rates.

Already, I am paying over $3/gal for gas and it is rising. The future price of oil is much higher than now.