Tuesday, May 20, 2008

Local Peak For Oil?

According to yesterday's Mad Money, Iran is stockpiling crude in tankers. That's quite like the end of 2006. Spot price for tankers is sky high, oil is sky high, oil is getting stockpiled in tankers for the lack of other options.

In 2006, that was a local peak for oil. Shortly after that, oil price dropped sharply. Are we going to get another?

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