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$100 Oil in Sight

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And I don’t mean on the way up, either.

The Gustav effect has passed, the summer driving season in the US is over and Gasoline/crude supply is flush. That giant ‘woosh’ sound are the investors fleeing the market. On the overnight Asian markets, crude dropped to around $106/bbl. London and the NY Merc are next!

Oil Falls as Companies Prepare to Resume Output After Hurricane – Bloomberg.com

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Posted by on Tuesday, September 2, 2008 at 5:59 pm 
Filed under Hurricanes, Oil Companies · Tagged with ,

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