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TOP Oil Market News: Crude Drops; Oil at $120 a Barrel Becomes Biggest Bet

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dipsydoodle Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-25-11 09:21 AM
Original message
TOP Oil Market News: Crude Drops; Oil at $120 a Barrel Becomes Biggest Bet
Source: Bloomberg

The biggest bet in the oil market has become a 20 percent increase to $120 by the end of the year as global growth drives demand for raw materials.

Read more: http://www.bloomberg.com/news/2011-07-25/oil-at-120-becomes-biggest-energy-bet-as-futures-leave-forecasters-behind.html
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truth2power Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-25-11 10:17 AM
Response to Original message
1. What would that mean in terms of price at the pump? n/t
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safeinOhio Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-25-11 10:23 AM
Response to Reply #1
2. $4.50/gallon
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truth2power Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-25-11 11:27 AM
Response to Reply #2
5. Thanks. n/t
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defendandprotect Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-25-11 10:35 AM
Response to Original message
3. We need to reregulate commodity trading to prevent SPECULATION....
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defendandprotect Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-25-11 10:36 AM
Response to Original message
4. And Obama's release of oil reserves brought the price down 20 cents for a week or so?
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Historic NY Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-25-11 11:43 AM
Response to Original message
6. Thats the idea to capture the WH keep oil high & dump Obummer....
didn't you get your memo.
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lovuian Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-25-11 01:44 PM
Response to Original message
7. Peak Oil has arrived America ...its why society and world
governments are falling into chaos

Some countries are better prepared than others

America will change
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