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Wednesday, May 09, 2018

The Market On Wednesday

  At 10:55 a.m. ET the DOW is flat and the price of oil is up.

CNN: What Trump's Iran decision means for oil and gas prices by Matt Egan

2 comments:

Glynn Kalara said...

The drill baby Drill crowd is silent on the fact that all that wonderful deregulation they always scream about has produced dramatically higher oil prices and the coming War with Iran will make the Kremlin really happy as the Iranians will probably close the Straits of Hormuz right at its start bottling up 1/2 the World's oil supply in ten minutes. Oil would soar to three hundred as barrell in a few days. This would make Russia rich again since they would then be the World's leading supplier of oil along with Texas. The US economy , Europe and China would tank overnight. Trumpf would blame Obama and Clinton and call Putin for advice.

Jim Sande said...

I believe this entire move by Trump to get out of the Iran deal, is at least in part about driving up oil prices. Period. Trump is giving oil companies a last hurrah.