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Oil spikes $25 on anxiety over bailout

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StephHigdem

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http://www.msnbc.msn.com/id/12400801/

Here we go again...

Oil spikes $25 on anxiety over bailout
Trading suspended as crude prices soar to biggest one-day increase ever

Crude has gained about $40 in a dramatic four-day rally that has at least temporarily halted oil's steep two-month slide below $100. At this rate, crude is within striking distance of its all-time record of $147.27, reached in July.
 

Terrel L. Shields

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Oil speculators are predicting the dollar gets hammered....which drives the price up for us and not many others...
 

toddmallard

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Are you **%$en kidding.

Specs plus bullets = Stable oil prices. I hope that every speculator has long term trouble with their entire life. Including but not limited to, Their Families, Their Health, Their Jobs, Their Teeth. They should all fall out except for 1 and that one should be a tooth ache for all eternity. Go Pubs.
 

AJL118

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According to CNBC, it is the speculators having to cover their short positions and has nothing to do with supply and demand. I wish I had some idea WTH they are talking about! Top your tank off.........
 

Claude From NY

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from what I read Terrel is correct

The Dollar had its biggest one day decline against the Euro since the formation of the Euro in 1999. Hence the big spike in oil as crude futures are traded in dollars and declining $s make oil more attractive to overseas investors.
 

Terrel L. Shields

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the speculators having to cover their short positions
This is the last day you can buy or sell November futures contracts. They "short" the market and go long as the same time - a straddle hedge - limits the amount they can lose. The declining dollar is the fuse that sent prices up.
 

PropertyEconomics

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New Mexico
And today Oil is down below $108 a barrel. Proof that covering the short positions was what caused yesterdays spike. Additional proof was the lack of similar rises in gas, heating oil and natural gas prices. It was a one day issue and prices should stabilize again.
Those guys that made money on the way up are making money on the way down, and with new regulations on short selling, they were covering their positions.
 

JENIFFERW

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Nov 26, 2007
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California
Check the link I posted to the Picken's Plan. It's all about not only how much the price of gas is, treating the environment better, but MOSTLY about the saving American economy and way of life.

http://www.pickensplan.com/index.php
 

JENIFFERW

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Seems to me that if we spent as much time insisting on a solution like this as we do complaining about the price of gas and our messed up economy, things could get a whole bunch better in this country. It keeps our money here, makes us less dependent on foreign nations that hate us, makes energy cheaper, makes the air cleaner, and creates tons industrial jobs that can't be outsourced. Hello...
 
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