Eighty-Six Dollar Oil

Oil was up two and a half bucks to $86.13 today, yet another record close. The big jump was attributed to Kurdistan-related tensions between Turkey and Iraq. So take consolation in the hope that if we can get the Turks to calm down, oil prices will slip to a more sane level in the low eighties. Oh, wait. I forgot. Oil had already been on a robust record setting clip, so the underlying trend was strongly up in any case. And the Turks probably won't calm down. Never mind.

Copyright (C) 2007 James Michael Brennan, All Rights Reserved