The oil market has had a nice run no doubt...and there are many leveraged strategies that will have to unwind...
One should not be surprised to see extreme downward movement...just as one has seen extreme upward movement...even to the degree that tankers are being contracted for storage....
http://archives.seattletimes.nwsour...tex/display?slug=oilconsumers14&date=20060914
http://feeds.bignewsnetwork.com/?sid=c12c470208ee6f79
The next 12 months may well grant oil price relief....
One should not be surprised to see extreme downward movement...just as one has seen extreme upward movement...even to the degree that tankers are being contracted for storage....
http://archives.seattletimes.nwsour...tex/display?slug=oilconsumers14&date=20060914
http://feeds.bignewsnetwork.com/?sid=c12c470208ee6f79
The next 12 months may well grant oil price relief....