Monday, July 17, 2006

Iran

Crude oil prices fell more than $1 a barrel Monday on rumors of moves toward peace in the Middle East and in Iran's nuclear standoff with Western nations.


How nice.

"Slim spare capacity, continued demand and a spate of geopolitical threats to supply all point toward bullish oil markets and yet more upward pressure on crude," said Simon Wardell at Global Insight.


Note to Democrats - let's increase our refining capacity here in the US. Let's allow more drilling for oil.