Crude ends above $77, Hezbollah declares war…market plunges!
July 14, 2006 – 4:37 pmIf you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
FUD are in the drivers seat as oil ends above $77 a barrel. Price levels like that were thought of as impossible a few years back. Now the question is: how high can they go and how will it affect all of us?
People are beginning to fear problems with the Iranian oil supply:
“Many analysts believe that the Hezbollah attacks on Israel were explicitly or implicitly sanctioned if not actually instigated by Iran,” said James Williams, an analyst at WTRG Energy Economics in London, Ark. “While the volume of oil involved in the direct participants is minuscule the conflict always has the possibility of encouraging Hezbollah sympathizers to action in other arenas.”
With gas reaching ever higher record levels, bears outnumbered bulls and the broad market finished down.
It is a perilous market to navigate at present. Only the most creative stock investing ideas should even be entertained now.
If you enjoyed this post, subscribe to the Superior Investor Blog RSS feed!.
