Thursday, November 01, 2007

Halloween $100?

It's gonna be a $100 oil very very soon...it's been rising almost $1 per barrel a day on concerns of tight supplies and tension in the Middle East (Iran, Turkey, you name it...). Well, at least for now it is at $96 but I doubt it will remain there for very long. There's a lot of speculative trading involved, not unlike trading in stocks whenever a certain psychological level is reached - right now the bullseye is at $100. Who knows, if we are lucky tonight, we might see a Halloween $100 oil - spooky thought, isn't it?

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