How to Play the Potential Government Oil Release
Since the really big run in crude oil and gas prices began in the spring of this year, I have been convinced that a release of the Strategic Petroleum Reserve (SPR) has been coming, but maintained that it would be politically timed in an election year. I believe that time has come.
All of the signs have fallen into line: Not only have oil prices risen almost $20 a barrel since the lows of June, but gasoline is up almost $0.80 per barrel, and is now lapping again at the shores of $4 a gallon. The cover for a release from the SPR has most conveniently been given by Hurricane Isaac, which appropriately made landfall eerily close to the same area of the Gulf Coast where Hurricane Katrina hit almost exactly seven years ago to the day – although, thankfully, it did not do nearly as much damage....510 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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