Here’s some news worth reading …
Oil is rocketing higher. It still has to get above last week’s high, but this is a bullish start.
Why is oil making its biggest move in four weeks? Because the dollar is weakening, and because OPEC says they won’t increase output. As I said in Friday’s column, there is plenty of oil in storage. As I also said Friday, it probably doesn’t matter – oil will head higher anyway.
In other news …
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If you think China doesn’t play fair economically, Brazil is giving them a run for their money. Bloomberg reports that Brazil is breaking patents on U.S. films, books and drugs. I think countries will do this as long as they’re rewarded (i.e. not punished) for doing so).
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Jesse asks if the United States is making preparations for a pre-emptive strike on Iran. My take: Well, it would make the transformation of the Obama administration into the Bush administration complete.
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Global CO2 levels rise to new highs, if you believe in that sort of thing.
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The Globe and Mail asks: Is The Bear: Dead or Just Sleeping?
Related Posts
- News and Chart for Wednesday (07/29/09)
- Gold Chart and China News (07/16/09)
- New Chart on Oil (12/12/09)
- Gold Chart and Commodity Chart for Monday (06/29/09)
- Tuesday News — Bankers, Heathcare, and Other Disasters (01/19/10)
{ 5 comments… read them below or add one }
What’s your support levels on this Sean
Hi, Dean. First support is at 77. There is other support below that. And since we’re all talking ourselves into thinking oil is going higher, maybe now is when it will go lower
Interesting comparison of the cost of “green technology”.
http://www.larouchepac.com/node/13889
JG.
Brazil looks good on the surface but is a “bubble ready to burst”.
http://www.larouchepac.com/node/13891
JG.
East Anglia - Emails…
http://www.larouchepac.com/node/12623