Oil Rises To $80 On French Strike

[Purveyor]

NEW YORK (Reuters) - Oil rose slightly to top $80 a barrel on Monday as a French refiner strike and tensions over Iran's nuclear program outweighed gains in the dollar.

Further support came on short-covering ahead of the expiration of the March U.S. crude oil contract and from buying up of U.S. RBOB gasoline futures as the market gears up for the U.S. summer driving season, traders said.

U.S. crude for March delivery, which expired on Monday, settled 35 cents higher at $80.16 a barrel after hitting $80.51 earlier -- the highest for a front-month contract since January 13.

It was the fifth straight session of gains, during which time U.S. crude rose 8.13 percent and marking the longest winning streak since early January.

Brent crude for April rose 42 cents to settle at $78.61 a barrel. U.S. RBOB gasoline futures gained 3.01 cents to $2.1158 a gallon, the highest settle since January 12.

"The front of the RBOB (gasoline futures) curve remains in the crosshairs of the hedge funds and money managers," said Jim Ritterbusch, president of Ritterbusch & Associates.

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http://www.reuters.com/article/idUSTRE6142V820100222

[Mari333]

1. more bad news .

[endless october]

2. expensive energy an our refusal to manufacture in the states

will ensure that the economy remains in the shitter.

at least the banksters can make some green, though.

if you have money, all you need is market movement. it can "move" straight into the ground and you can still make money.

[marmar]

3. The Ne Travaille Pas Bubble !!!!

nt