Solidly above $91 today.
After a huge run-up this year, it's up almost another dollar today.
Update: it's now up $1.08.
While traveling, I don't have access to CNBC. I assume the talking heads say fundamentals don't support $90 oil and that it's speculators running up the price.
Yup, one billion speculators in China who all want to own cars and guys like Icahn who have just doubled their position in oil and gas.
Besides Oil, Uranium is another sector that is ramping up demand and production fueled by the building of approximately 100 nuclear reactors in the next decade in India and China.
ReplyDeleteInvestors will profit greatly in these sectors over the next 5 years+.
Building reactors in the US would result in a few jobs, also, but something tells me China will take the lead on this, too.
ReplyDelete